Global Cosmetic Ingredients Market: Key Highlights
Global Cosmetic Ingredients Market: Key Market Dynamics
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Global Cosmetic Ingredients Market: Regional Overview
Europe is expected to account for the largest share in the global cosmetic ingredients market during the forecast period, owing to the presence of key market players including BASF SE, Croda International PLC., Evonik Industries AG and many others. In addition to this, Europe It hosts numerous big beauty brands including L’Oreal and Beiersdorf which is likely to boost the cosmetic ingredients market in the Europe Region. Moreover, Europe has over 4000 companies that manufacturers personal care goods and perform strongly in terms of exports. Thus, the increasing demand for personal care goods and exports in the Europe region will boost product demand.
Asia-Pacific is expected to grow at a higher CAGR of cosmetic ingredients market during the forecasted period. This highest growth can be attributed to the growing population and rapid urbanization, along with the increase in per capita spending on personal care products in highly developing economies such as China, South Korea, India, and Indonesia is contributing towards the growth of the cosmetic ingredients market in this region.
Global Cosmetic Ingredients Market: Key Players Overview
Ashland is a US-based specialty chemicals company. The company provides products, services and solutions to customers in various industries in over 100 countries. Ashland operates in two segments: Ingredients (Specialty Ingredients) and Intermediates and Solvents. The Company serves customers in a range of consumer and industrial markets, including adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical. The company operated 58 manufacturing sites and 29 research, development and technical centers, serving customers in more than 100 countries on six continents. In April 2017, Ashland global holdings acquired Pharmachem Laboratories, Inc. (U.S.), a leading provider of ingredients to health & wellness industries and products to fragrance & flavor houses. The acquisition helped the company in increasing its product line.
BASF SE is one of the leading chemical company across the globe. The Company’s portfolio comprised of six business segments including Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. The Chemicals segment consists of the Petrochemicals and Intermediates divisions. The Materials segment consists of Performance Materials and Monomers divisions. BASF SE has Approximately 3,000 research project and 361 production plant worldwide. In April 2017, BASF SE introduced three new ingredients, namely Collalift 18, Oligolin, and Cetiol 4. Collalift 18 and Oligolin, are active ingredients used for reducing signs of ageing. Cetiol 4 is emollient used for various applications such as face care, body care, color care, antiperspirants, and deodorant.
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