Asia-Pacific Cosmetic Bioactive Ingredients Market: Forecast Analysis 2024-2032
As per Triton’s research report, the Asia-Pacific cosmetic bioactive ingredients market is estimated to progress in terms of revenue at a CAGR of 6.02% during the forecast period 2024-2032.
The cosmetic bioactive ingredients market in the Asia-Pacific region is witnessing robust growth, driven by increasing consumer awareness and demand for natural cosmetic ingredients. A significant trend is the rising preference for products containing bioactive compounds like hyaluronic acid, peptides, and botanical extracts, which are valued for their efficacy and safety. Additionally, social media and beauty influencers play a crucial role, with the majority of consumers in this region being influenced by online reviews and recommendations when choosing skincare products. As the demand for organic beauty products is increasing, this growth uptrend is thus characterized by a blend of traditional herbal ingredients and cutting-edge biotechnology, catering to the diverse needs and preferences of the people.
The countries analyzed in this region include China, Australia & New Zealand, ASEAN Countries, Japan, South Korea, India, and Rest of Asia-Pacific.
China leads with a major market share, recording nearly $132.57 million in 2023.
- As per a study conducted among consumers in China, 90% of the respondents prefer healthy and organic beauty products and for 77% of Millennials and Gen-Z consumers, the quality of ingredients is the most important factor to purchase cosmetics.
- These trends suggest that there will be a growing market for cosmetic products that emphasize bioactive ingredients, such as Vitamin C, Hyaluronic Acid, Green Tea, Aloe Vera, etc.
- Consequently, manufacturers and suppliers who can provide high-quality bioactive ingredients will likely see increased demand as brands strive to meet consumer expectations for healthier, more effective cosmetic products.
Cosmetic Bioactive Ingredients Market Forecast for India & Japan
The beauty trends in India are evolving as people are now prioritizing their health, skin, and hair care by using natural cosmetic products. Indians prefer skincare and other beauty related products that contain plant extracts and herbal ingredients. Similarly, the popularity of anti-aging creams and hydrating products among Japanese consumers drives the demand for bioactive ingredients such as collagen, hyaluronic acid, and peptides.
Moreover, the ban on harmful ingredients like triclocarban and triclosan highlights the importance of safety in cosmetic formulations, which will notably boost the demand for bioactive ingredients. This will also encourage the manufacturers to invest in research and development of new, safe, and effective non-toxic bioactive compounds. Such trends are having a positive impact on the cosmetic bioactive ingredients market growth in the coming years.
The cosmetic bioactive ingredients market is segmented by source and ingredient type. Based on ingredient type, it is further classified into amino acids, Omega-3 fatty acids, proteins & peptides, vitamins, probiotics & prebiotics, plant extracts, carotenoids & antioxidants, minerals, and other ingredient types. Amino acids, derived from plant sources, are valuable bioactive ingredients in cosmetics, aiding in the conditioning of hair and skin. They are categorized into essential and non-essential amino acids. Essential amino acids must be obtained from food, as the body cannot produce them, while the body synthesizes non-essential amino acids and does not need to be supplemented.
Contender Analysis in the Cosmetic Bioactive Ingredients Market:
Clariant AG drives value creation with innovative and sustainable solutions for various industries, including agriculture, oil and gas, personal care, home care, and industrial manufacturing. In the personal care segment, the company offers products such as anti-dandruff treatments, antiperspirants, UV sunscreens, and hair conditioning agents. It has a global presence, spanning Europe, North America, Latin America, the Middle East, and Asia-Pacific. It is headquartered in Muttenz, Switzerland.
Recently, it acquired Lucas Meyer Cosmetics from IFF, aiming to enhance its presence in high-value cosmetic ingredients and shift its portfolio towards high-growth specialty chemicals driven by increasing demand for natural products.
Other key contenders in the market include BASF SE, Croda International PLC, Evonik Industries AG, Clariant AG, The Dow Chemical Company, Gattefossé, Solvay, Givaudan, Nouryon, Momentive Performance Materials, Symrise AG, Lubrizol, Ashland Global Holdings Inc, Zschimmer & Schwarz, and Provital.
ASIA-PACIFIC COSMETIC BIOACTIVE INGREDIENTS MARKET 2024-2032.pdf