APAC methyl glucose market to see 8% CAGR till 2025 | Tinci, BOC Sciences, Kalichem, SMA Collaboratives, ACAR Chemicals, Evonik
APAC methyl glucose market is poised for robust growth on the back of its wide-ranging application in beauty & personal care products. Methyl glucose derivatives are extensively used in cosmetic products like creams, skin cleansers, shampoos, lip care products, body wash, and creams. These derivatives are used as emollient, thickener, humectant, surfactant, and emulsifier in cosmetics.
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APAC methyl glucose market is consolidated with a strong presence of numerous multinational companies and small-scale manufacturers and suppliers. These companies have aligned their focus on new product developments to deliver diverse and high-quality methyl glucose products. Large scale ingredient manufacturers like Lubrizo and Evonik Industries are delivering additional services like formulations for numerous personal care products.
Most of these manufacturers are in Japan, China, and South Korea, leveraging their established distribution network to serve the increasing demand for methyl glucose. Notably, companies such as Guangzhou Tinci Materials Technology, NOF Corporation, KCI Limited, Lubrizol Corporation, and Evonik Industries are currently leading the APAC methyl glucose market.
Methyl glucose exhibits non-irritant and non-toxic properties that has helped contribute to its demand. China had recorded a US$50 billion sale of cosmetics and personal care products in the year 2015 and was predicted to be the largest market for the segment in the forthcoming decade. The steadily growing middle class in the country has stimulated the demand for consumer products. It has also been predicted that the Chinese consumers will purchase 44% of the luxury goods by 2020 which will majorly comprise cosmetic products.
There is a massive penetration of multinational firms manufacturing and distributing consumer care products. World-class brands have been dominating the Asian market such as L’Oréal , Proctor and Gamble, among others. 80% of China’s consumer care and cosmetic products are produced through foreign-owned or joint ventures, impacting APAC methyl glucose market trends notably.
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