Color cosmetics segment is the top investment pocket, owing to its growing demand in Korean personal care market. Changing lifestyle in Korea is expected to drive customers to try new color cosmetics to create different looks for certain occasions or get better make-up.
Portland, OR -- (SBWIRE) -- 09/21/2017 -- Allied Market Research published a recent report, titled, "Korea Personal Care Encapsulation Materials Market Report". According to the experts the industry was valued at $25,268 thousands in 2016, and is projected to rise up to $59,880 thousands by 2023, increasing at a CAGR of 10.9% during the period, 2018–2023. The study divides the market in to application and material type.
Encapsulation is a technique through which tiny particles are protected by coating them in order to form small capsules and offers control of deposition of active ingredients. In addition, use of encapsulating unstable components in a lipid-based micro particle decreases volatility and prolongs protection of the treated skin. This technique is used to isolate components or other materials from potential stressful conditions that can adversely affect the performance of a product. The encapsulation materials find application in various industries, such as food, pharmaceuticals, personal care & cosmetics, and textiles.
Based on material type, the Korean personal care encapsulation material market is categorized, viz., lipids, proteins, synthetic polymers, and polysaccharides. There are factors that drive the industry, such as high demand for personal care products including anti-aging creams, shower & bath gels, and color cosmetics. Moreover, high standards of living, and rapid geriatric population supplement the demand for organic, natural, and functional cosmetics products. This rise in trend is anticipated to continue during the forecast period, which in turn will boost the personal care encapsulating materials market in Korea. The export of cosmetics from Korea has grown in the recent years. Furthermore, increase in demand for personal care and cosmetics from international markets is anticipated to fuel the demand for encapsulation materials in Korea.
The polysaccharides segment is expected to continue its dominance in the Korea market during the forecast period. The lipids segment is anticipated to rise at the highest CAGR 11.8%, during the aforementioned period. Based on application, the color cosmetics and wrinkle creams segments are expected to contribute the maximum shares in the Korea personal care encapsulation materials market.
Key Findings of the Korea Personal Care Encapsulation Materials Market are as follows:
- In terms of value, the chitosan segment under the polysaccharides would register a CAGR of 9.1%, during the forecast period.
- In terms of value, soy proteins and paraffin segments would grow at CAGRs of 12.0% and 12.4%, respectively, during the aforementioned period.
Key players of the Korea personal care encapsulation materials market described in the report include Sumitomo Corporation, Durae Corporation, and Biogenoci Co. Ltd. The main supplier of encapsulation materials in Korea is Persperse Corporation, which has been acquired by Sumitomo Corporation.
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