At 5.1% CAGR, the Asia Pacific Cosmetic Polymer Ingredients Market is Projected to be worth US$ 4,624.24 million by 2031, says Business Market Insights

According to Business Market Insights research, the Asia Pacific cosmetic polymer ingredients market was valued at US$ 3,106.39 million in 2023 and is expected to reach US$ 4,624.24 million by 2031, registering a CAGR of 5.1% from 2023 to 2031. Rising sales of beauty products through e-commerce and strategic initiatives by key market players are among the critical factors attributed to drive the Asia Pacific cosmetic polymer ingredients market growth.

The emergence of e-commerce has transformed the shopping experience for people looking to purchase beauty products. The burgeoning penetration of smartphones and the internet, the increasing purchasing power of consumers, rising access to emerging technologies, and the convenience provided by online retail shopping platforms are bolstering the e-commerce industry. According to an article published by Bolt in May 2023, 57% of the Gen Z population is willing to spend 11–20% more for beauty products while making purchases from custom and curated online shopping platforms. Further, key cosmetics market players are utilizing advanced technologies such as artificial intelligence, augmented reality, and machine learning to develop personalized beauty solutions. For example, L’Oreal uses advanced research, data analysis, and artificial intelligence to offer personalized beauty solutions through smart devices, online platforms, and a range of digital services. L’Oréal has plans to unveil innovations that deliver “Beauty for Each, Powered by Beauty Tech” at Viva Technology in Paris in 2024. This portfolio includes a GenAI-powered personal beauty assistant, a GenAI Beauty Content Lab named CREAITECH, a micro-resurfacing device for advanced skincare performance, a realistic, human skin-like technology platform for scientific research and product testing, etc. The incorporation of modern technologies helps them build trust among their consumers, in turn resulting in increased sales of their products. Thus, the rising sales of beauty products through online sales channels propels the Asia Pacific cosmetic polymer ingredients market.

On the contrary, adverse effects of synthetic cosmetic polymer ingredients hamper the growth of Asia Pacific cosmetic polymer ingredients market.

By type, the Asia Pacific cosmetic polymer ingredients market is segmented into polyethylene glycol, acrylic acid-based, vinyl acetate, silicone, cellulose, collagen, pectin, xanthan gum, chitosan, and others. The silicone segment held 40.4% share of Asia Pacific cosmetic polymer ingredients market share in 2023, amassing US$ 1,253.47 million. It is projected to garner US$ 1,845.83 million by 2031 to register 5.0% CAGR during 2023–2031.

In terms of category, the Asia Pacific cosmetic polymer ingredients market is segmented into natural, synthetic, and semi-synthetic. The synthetic segment held 72.3% share of Asia Pacific cosmetic polymer ingredients market share in 2023, amassing US$ 2,244.99 million. It is projected to garner US$ 3,267.70 million by 2031 to register 4.8% CAGR during 2023–2031.

Based on function, the Asia Pacific cosmetic polymer ingredients market is segmented into rheology modifiers, stabilizers, emulsifiers, film formers, conditioning, and others. The rheology modifier segment held 30.8% share of Asia Pacific cosmetic polymer ingredients market share in 2023, amassing US$ 957.45 million. It is projected to garner US$ 1,485.45 million by 2031 to register 5.6% CAGR during 2023–2031.

By application, the Asia Pacific cosmetic polymer ingredients market is segmented into skincare, hair care, makeup, and others. The skincare segment held 37.1% share of Asia Pacific cosmetic polymer ingredients market share in 2023, amassing US$ 1,152.53 million. It is projected to garner US$ 1,766.55 million by 2031 to register 5.5% CAGR during 2023–2031.

Based on country, the Asia Pacific cosmetic polymer ingredients market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific Our regional analysis states that China captured 37.3% share of Asia Pacific cosmetic polymer ingredients market in 2023. It was assessed at US$ 1,157.75 million in 2023 and is likely to hit US$ 1,707.27 million by 2031, registering a CAGR of 5.0% during 2023–2031.

Key players operating in the cosmetic polymer ingredients market are 3V Sigma S.p.A.; Arkema SA; Ashland Inc; BASF SE; Cargill, Incorporated; Clariant AG; Derypol; Evonik Industries AG; Nouryon Chemicals Holding BV; Sensient Technologies Corp; SNF; Solvay SA; SOPHIM IBERIA S.L; The Dow Chemical Co; and The Lubrizol Corporation, among others.

• In April 2024; Clariant AG announced the acquisition of Lucas Meyer Cosmetics, a provider of high-value ingredients for the cosmetics and personal care industry, from IFF for an Enterprise Value (EV) of US$ 810 million. This acquisition enables Clariant AG to strengthen its market position.

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