Asia Pacific Methyl Glucose Market is expected to exceed USD 70 million by 2025. Premiumization in the beauty and personal care industry accompanied by technological advancements in cosmetics ingredients manufacturing will fuel the market growth
Some major findings of the Asia Pacific methyl glucose market report include:
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The demand for Asia Pacific methyl glucose products is increasing across the globe due to improved demand for bio-based cosmetic ingredients in beauty & personal care market.
Rapid expansion in the premium cosmetics segment supported by the acceleration of urbanization in the region.
Expansion in online distribution network for cosmetics along with enhanced consumer awareness of product ingredients is generating new growth opportunities for the methyl glucose industry
Modifications in regulations pertaining to synthetic cosmetic ingredients is likely to create long-term positive impact
Some of the major players operating in the Asia Pacific methyl glucose market are Evonik Industries, Lubrizol Corporation, Guangzhou Tinci Materials Technology, KCI Limited, and NOF Corporation.
Increasing regional production of methyl glucose derivatives coupled with rise in market competitiveness will provide potential growth prospects
Strong outlook for methyl glucose derivatives in beauty & personal care market owing to diverse functional usage as a humectant, emollient, thickener, surfactant, and emulsifier. Some of the major applications of methyl glucose derivatives in the end-use market include shampoos, creams, skin cleansers, body wash, lip care products and color Cosmetics. Further, extremely low eye irritation scores make these products support the product penetration in eye area skin care products.
Improved consumer knowledge and willingness to pay higher for premium cosmetics is shifting the preference towards bio-based and natural ingredients, thereby propelling the methyl glucose market size. Also, ease in availability of raw materials such as natural methyl glucose, oleic acid, stearic acid will shift the preference towards methyl glucose products. These products may vary by form such as solid form or flakes and in liquid form. Solid form provides product at high concentration levels, as well as ease in transportation and storage.
Asia Pacific region accounts for around 39% of the global cosmetics market in 2018, where skin care and hair care segment together account for around 60% of the overall industry share. Strong development in the ecommerce sales channel has changed the dynamics of the cosmetics business. According to Loreal, the global online cosmetics & personal care product sales was increased by 25% in 2018, reaching over 12% market share in the same year.
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PEG 120 Methyl Glucoside Dioleate holds a significant share in the overall market. The product functions as a surfactant and emulsifier in skincare and haircare products. It does not cause irritation and is considered to minimize the irritation value of whole formulas. Moreover, Methyl Gluceth-20, a corn-sugar derived active cosmetic ingredient, is projected to grow at a considerable rate over the forecast timeframe. The product offers water-retention characteristics to prevent water-loss from the skin along with emulsifying & thickening properties. It is non-tacky, and finds application in cleansers, creams, hair care, and color cosmetics.
China holds over 35% share in the Asia Pacific methyl glucose market in 2018. Considerable market growth in China can be attributed to rise in production capacity supported by favorable government policies, cost effectiveness, and established exports network. Other factors such as rapid economic growth and increasing consumer propensity to spend on premium cosmetics due to rise in middle class income levels is expected to surge the business expansion.
The Asia Pacific methyl glucose market share is consolidated with presence of multinational corporations and small scale regional players. Manufacturers are engaged in new product developments to offer high quality and diverse range of methyl glucose products. Cosmetic ingredient manufacturers Large scale manufacturers such as Evonik Industries and Lubrizol are offering additional services such as formulations for various personal care products to gain competitive edge in the market. Majority of the regional manufacturers are located in China, South Korea, and Japan and are dependent on their established distribution channel to cater the regional demand for methyl glucose.