Asia-pacific Cosmetic Bioactive Ingredients Market 2022-2028
MARKET OUTLOOK
Triton’s report on the Asia-Pacific cosmetic bioactive ingredients market displays that the market is deemed to showcase a CAGR of 6.12% during the forecast period 2022-2028. ASEAN countries, China, India, Australia, Japan, South Korea, and Rest of Asia-Pacific are major countries assessed in the region.
In recent years, beauty trends have evolved significantly in India. A large number of the population are focusing on integrating skincare routines into their daily lifestyle. This has increased the demand for products that help reduce dark circles and wrinkles, moisturize the skin, etc. Moreover, several applications have been launched to cater to consumers’ rising beauty and cosmetic needs. Another factor that supports the market’s growth is the growing consciousness that has encouraged men to opt for face wash, face cream, bread gel, etc. This high demand for products increases the need for active ingredients in cosmetic and personal care products.
South Korea’s beauty industry has grown tremendously, being among the top 10 beauty markets globally. The skincare segment majorly dominates in the beauty industry. There is a high demand for various skincare products, such as serum, eye cream, masks, moisturizers, retinol oil, etc. This has encouraged prominent players to introduce new products containing various bioactive ingredients. For instance, Time Revolution Night Repair Ampoule is a serum made of 10 types of probiotics. Thus, the rising skincare industry boosts the cosmetic bioactive ingredients market.
COMPETITIVE OUTLOOK
The major companies in the market include BASF SE, Clariant, Lubrizol, Ashland Global Holdings Inc, Provital, and Symrise.
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