by The cosmetic ingredients market in Malaysia mainly consists of essential raw materials that are used in the manufacture of personal care and beauty products. Some of the key products include moisturizers, cleansers, toners, sunscreens, shampoos, conditioners, hair dyes, lipsticks, eye makeup, and fragrances. Cosmetic ingredients help improve the aesthetics and provide therapeutic benefits. They impart characteristics like moisturization, UV protection, anti-aging, and nourishment. The increasing disposable incomes and rising focus on appearance among Malaysians have fueled the demand for cosmetics over the years.
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. Key players are focused on developing natural and organic cosmetic ingredients to cater to the rising demand.
The growing demand for cosmetic products in Malaysia owing to increasing spending on personal grooming and rising beauty consciousness is driving the consumption of cosmetic ingredients. Wide availability and aggressive marketing strategies by brands are also propelling the market growth.
Cosmetic companies are increasingly sourcing ingredients from Malaysia due to the availability of raw materials, favorable climate, and low production costs. Manufacturers are also export-oriented given Malaysia’s strategic geographic positioning and trade relations. This is contributing to the global expansion of the Malaysia cosmetic ingredients market.
Market Key Trends
The Malaysia cosmetic ingredients market is witnessing increased demand for natural and organic products owing to rising health and environmental concerns. There is a trend where consumers prefer plant-derived and chemical-free ingredients that have minimal side effects. Key players have started offering natural alternatives to synthetic ingredients to cater to this demand. Another notable trend is the usage of medicinal plant extracts as active ingredients in cosmetic formulations for their therapeutic properties. For instance, products containing aloe vera, ginseng, and camellia help address specific skin issues. Sustainability is also an important consideration, and manufacturers are investing in eco-friendly packaging and green production techniques.
Porter’s Analysis
Threat of new entrants: New entrants face high costs to build quality manufacturing and R&D facilities that meet regulatory standards.
Bargaining power of buyers: Large cosmetic buyers can negotiate lower prices and demand high quality and innovative ingredients.
Bargaining power of suppliers: Suppliers of specialty ingredients operate in an oligopolistic market.
Threat of new substitutes: Alternatives with similar functionality and properties pose minimal threat.
Competitive rivalry: Companies compete based on quality, innovation, and relationship building with customers.
Geographical Regions
The Southeast Asian region, especially Malaysia, accounts for a major share of the cosmetic ingredients market in value terms. This is due to the expanding cosmetics industry in the country along with a strong manufacturing base for cosmetic ingredients.
The Middle East region is anticipated to be the fastest growing market for cosmetic ingredients during the forecast period. Growth in disposable incomes and increasing spending on personal care products are driving demand growth in GCC countries. Rising expatriate population and their high spending power also support the regional market.
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
About Author - Money Singh
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, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
