The cosmetic ingredients market in Malaysia has been witnessing steady growth over the past few years. Increasing consumer preferences towards natural and organic skincare products due to rising awareness regarding ingredients and their effects has augmented the demand for cosmetic ingredients. Key ingredients used in cosmetics include emulsifiers, surfactants, emollients, thickeners, UV absorbers and active ingredients. These ingredients provide products with attributes like moisture retention, anti-aging properties, sun protection etc. Growing cosmetic industry in Malaysia along with rising disposable income has boosted the sales of cosmetic products, thereby favoring the growth of the cosmetic ingredients market.
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 market are BASF, Evonik, DKSH Holding Ltd., AVARES (M) SDN BHD, TCT Nutraceuticals Sdn Bhd and Among Others. These players are focusing on developing natural and organic cosmetic ingredients to capitalize on the ongoing trend towards sustainable and eco-friendly products.
The cosmetic ingredients market is expected to witness lucrative opportunities due to expanding cosmetics sectors and rise in premiumization. New product launches with novel formulations catering to newly emerging segments like men’s grooming would create substantial scope over the coming years.
With increasing investments by international players, the global expansion of the Malaysia cosmetic ingredients market is expected to gain momentum. Penetration in newer regions by major players through strategic partnerships is estimated to aid internationalization.
Market Drivers
The major market driver aiding the growth of Malaysia cosmetic ingredients market is the increasing demand for natural and organic skincare products. Consumers are increasingly avoiding products containing parabens, silicones, mineral oils and other synthetic chemicals due to rising awareness regarding their potential side effects. This has propelled the demand for natural alternatives like plant and herbal extracts, vitamins and proteins. Growth of online beauty portals and rise of social media influencers promoting organic brands has also catalyzed the shift towards natural ingredients. As consumers associate plant-based cosmetic products with added benefits like skin rejuvenation and detoxification, their demand is witnessing an upsurge. This is expected to boost the sales of cosmetic ingredients market over the forecast period.
PEST Analysis
Political: Malaysia cosmetic ingredients market is regulated by laws governing ingredients safety and packaging. Any new products need regulatory approval.
Economic: Rising disposable incomes and increasing beauty consciousness is driving the demand for premium cosmetic products in Malaysia. However, economic slowdowns can negatively impact the market.
Social: Young population is more brand conscious and inclined towards using modern cosmetic products. Social media influences have increased self-grooming and appearance enhancement trends.
Technological: Innovation in delivery systems, active ingredients and formulations is expanding product ranges. New manufacturing techniques help produce customized and specialized ingredients.
Malaysia itself accounts for a major share of the cosmetic ingredients market value in the Asia Pacific region. As one of the fastest growing economies in Southeast Asia, the country hosts a sizable domestic market. The rising exports of beauty products from Malaysia also contributes to local ingredients demand.
China represents the fastest growing regional market for Malaysian cosmetic ingredients exporters and suppliers. Factors like the huge population base, increasing incomes, westernization and e-commerce boom are propelling the Chinese cosmetic industry. Foreign companies see China as an important growth market and source ingredients from Malaysia to manufacture products locally.
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, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile