Market Research Future published a Cooked Research Report on “Global MENA/G.C.C./China Cosmetics & Personal Care Ingredients Market Research Report – Forecast to 2023”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
SABIC, Artec Chemical Company Limited, Dongming Jujin Chemical Co., Ltd., Ittihad International Chemicals Trading LLC (IICT), Reza Chemical Industries (RCI) (REZA Investment Company Ltd.), Chemanol and DOGOIDE Group among others are some of the prominent players at the forefront of competition in the Global MENA/G.C.C./China Cosmetics & Personal Care Ingredients Market and are profiled in MRFR Analysis.
MENA/G.C.C./China Cosmetics & Personal Care Ingredients Market – Overview
Cosmetics & Personal Care Ingredients are the raw materials which are predominantly utilized in numerous end use applications such as color cosmetics, bath & shower, skin care, hair care, and others. MENA/G.C.C./China Cosmetics & Personal Care Ingredients Market is predicted to witness significant growth on account of increasing population along with rising consumption of personal care products. In addition, among the type segment formaldehyde accounted for the largest market share and is predicted to retain their dominance on account of rising concern regarding skin fading and change of skin color. Among the application segment, skincare segment accounted for the largest market share and is expected to register with highest growth rate due to increasing demand for anti-aging skincare products such as lotions and creams.
Regionally, China emerged as the largest market for MENA/G.C.C./China Cosmetics & Personal Care Ingredients followed by MENA and GCC. The China cosmetics & personal care ingredients market is predicted to witness significant growth with a healthy CAGR over the assessment year on account of rising multifunctional ingredients demand along with high consumption of cosmetics & personal care products. Moreover, the demand for MENA/G.C.C./China Cosmetics & Personal Care Ingredients is predicted to raise in numerous countries such as Turkey, Saudi Arabia, UAE, China, Bahrain, and North Africa on account of rising middle class population along with increasing demand for male centric cosmetics as well as growing number of tourist activities in these region. Moreover, countries such as Saudi Arabia and UAE accounted for the strongest market share in GCC region due to strongest presence of cosmetics manufacturers and relatively huge consumer spending in these regions. Moreover, halal certified cosmetics and shifting consumer preference towards organic cosmetics ingredients in Saudi Arabia, UAE, Kuwait, and Oman are estimated to drive the growth of the market. Turkey is estimated to dominate the market share in MENA region due to the robust presence of manufacturing units in this region.
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Industry/ Innovation/ Related News:
August 2017– Clariant, presented its business strategy and development plan for the cosmetics & personal care industry. The company is showing its interest on developing nature-inspired active ingredients. For the personal care industry, the company has launched four themes of ORIGIN, BALANCE, REVIVE, AND CUSTOM. This business strategy is estimated to help company to expand its traditional product portfolio for specialty formulation ingredients.
June 2017– BASF SE announced to setup a new plant for emollients and waxes in Jinshan, Shanghai. This plant will cost around USD 24 Million and is expected to be the largest investment in emollients manufacturing in Asia Pacific. This capacity expansion will help company to meet the increasing demand for emollients in this region.
The MENA/G.C.C./China Cosmetics & Personal Care Ingredients Report has analysed the level of competition among the major manufacturers as well as sector growth and market scenario. The MENA/G.C.C./China Cosmetics & Personal Care Ingredients Market includes a large number of producers operating in the market which comprises of small scale and medium scale producers. The leading manufacturers which has strong hold in the market has shifted their focus towards growth association specifically by China as small level and medium level suppliers belongs to this country. Moreover, the key operating players are following numerous strategic plans to improve their product portfolio by strategic acquisition and mergers, joint ventures, product launches, and exclusive agreements. Some of the major manufacturers in this market are increasing their production capacity of cosmetics & personal care ingredients to meet the increasing demand for cosmetics & personal care Ingredients worldwide.
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