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Actives Innovation Grows in India
Posted: December 22, 2009
Frost & Sullivan has reported that India's beauty market is a "fertile breeding ground" for active ingredient companies offering novel products and easier-to-use formulations. Ingredients with increased functional benefits and multi-application profiles are in demand, the firm wrote in its "Strategic Analysis of the Indian Personal Care Active Ingredients Market," and raw material companies are penetrating this market via better formulations with multiple benefits.
UV ingredients in particular are fueling the demand for end-product skin creams and skin lightening lotions, said Frost & Sullivan research analyst Natasha Telles, in this report. She added, "This trend is expected to continue as customers become more aware and manufacturers are compelled to use targeted ingredients for specific formulations."
The success of raw material suppliers will depend upon differentiating their ingredients and functionalities, which has resulted in innovations ranging from silicone elastomers and the delivery of antiaging actives, to nutricosmetics developed to impart anti-wrinkle and skin-smoothing properties.
According to the report, innovative product development and market penetration are crucial to enhancing the growth of mature product segments such as conditioning agents. However, in younger markets such as UV and exfoliating ingredients, diversification and market expansion are expected to aid in revenue generation.
"Personal care active ingredient manufacturers need to focus on the scientific efficacy and brand awareness of their products by constantly remaining a step ahead of market trends," noted Telles in the report. In addition, utilizing raw materials provided by the Indian topography such as turmeric or exotic actives will connect regional consumers to innovative products, which will make an emotional connection and thus further the market penetration.