Malaysia Cosmetic Ingredients Market Is Anticipated To Witness High Growth Owing To Growing Cosmetics Industry



The cosmetics industry has witnessed significant growth in Malaysia over the past few years. Cosmetic ingredients serve as raw materials that are used in manufacturing various cosmetic products such as skin care, hair care, makeup, and fragrances. They provide critical functionalities like moisturization, anti-aging, UV protection, and others to cosmetic products. Ingredients ranging from emollients, surfactants, emulsifiers, polymers, preservatives, and active ingredients are widely used across product categories. Growing disposable incomes and significant penetration of online retailing have resulted in increased spends on personal care products.

The Malaysia Cosmetic Ingredients Market is estimated to be valued at US$ 72.9 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the Malaysia Cosmetic Ingredients are BASF, Evonik, DKSH Holding Ltd., AVARES (M) SDN BHD, TCT Nutraceuticals Sdn Bhd and Among Others. BASF is a leading supplier of surfactants, polymers, and active ingredients to domestic and international cosmetic brands. Evonik offers innovative and sustainable solutions across categories like emulsifiers, polymers, and actives.

The cosmetic industry in Malaysia presents significant opportunities for ingredient suppliers owing to the rising demand for premium and natural personal care products. Product innovations focusing on skin hydration, anti-aging, and brightening are driving demand. Growing online presence of domestic beauty brands is also opening new avenues.

Key players are expanding their footprint in the region through partnerships, acquisitions, and setting up local manufacturing facilities. This allows them to cater to the booming local market and capture a share of exports to Southeast Asian nations. Malaysia's strategic location and trade agreements with other countries in the region make it an ideal export hub.

Market Drivers

Rising household incomes: Rapid economic growth and urbanization have increased disposable incomes in Malaysia. This has boosted spends on personal care and cosmetic products.

Growing demand for natural/organic ingredients: Consumers are gravitating towards natural, chemical-free cosmetics. This is increasing the demand for natural active ingredients and extracts in the industry.

Market Restrain

Stringent regulatory framework: Manufacturing and marketing of cosmetic products involves compliance with various regulatory standards. Frequent changes in guidelines can increase the cost of doing business.

High dependency on imports: Malaysia depends on imports to meet most of its cosmetic ingredient requirements. Fluctuations in foreign exchange rates and global supply chain disruptions can impact the local industry.

Segment Analysis

The Malaysia cosmetic ingredients market is segmented based on ingredient type which includes emollients & moisturizers, surfactants, active ingredients, rheology modifiers, preservatives and others. Emollients & moisturizers is the dominating sub-segment accounting for highest share in 2022. The dominance of emollients & moisturizers can be attributed to increasing demand for skin caring cosmetic products in Malaysia.

Global Analysis

Regionally, East Asia holds the largest share of Malaysia cosmetic ingredients market in 2022 and projected to maintain its dominance during forecast period. The dominance of East Asia can be attributed to booming cosmetic industry in countries like Malaysia, South Korea and Japan. In Southeast Asia region, Malaysia is the fastest growing country for cosmetic ingredients market due to rising per capita income, growing awareness about personal care and expanding number of domestic as well as multinational personal care companies in the country.

Get more insights on this topic: https://www.ukwebwire.com/malaysia-cosmetic-ingredients-market-is-in-trends-by-increasing-consumer-preferences-for-natural-beauty-products/

 

Author Bio:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163 )

 

What Are The Key Data Covered In This Malaysia Cosmetic Ingredients Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Malaysia Cosmetic Ingredients's growth between 2024 and 2031.

:- Accurate calculation of the size of the Malaysia Cosmetic Ingredients and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Malaysia Cosmetic Ingredients Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Malaysia Cosmetic Ingredients vendors

FAQ’s

Q.1 What are the main factors influencing the Malaysia Cosmetic Ingredients?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Malaysia Cosmetic Ingredients companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Malaysia Cosmetic Ingredients’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

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