Description

Personal care active ingredients are responsible for a specific functionality in a cosmetic product. Improvements in technology act as a major driver by enhancing the functionalities and features of the active ingredients. Innovations are the key to increasing the market share and developing a competitive edge. Chinese competition in prices acts as a major restraint in this market, as the global suppliers are forced to reduce the prices and lose their margins. UV filters are expected to grow the fastest, followed by anti-aging ingredients during the forecast period. Emerging economies, such as Thailand, Indonesia, and Malaysia, are expected to play a major role in Asia-Pacific cosmetics market, driven by the prospering middle class segment.