The ASEAN cosmetic chemicals market reached USD 1,994.0 million in 2024. ASEAN demand for cosmetic chemicals recorded 5.7% year-over-year growth in 2024, and thus, the market is expected to reach USD 2,117.6 million in 2025. Over the projection period (2025 to 2035), ASEAN cosmetic chemicals sales are predicted to rise swiftly at 6.2% CAGR and climb to a market size of USD 3,864.5 million by 2035's end.
The market is flooded with various cosmetic chemicals. Cosmetic chemicals are the basic ingredients found in cosmetic products including soap, shampoo, lipstick, mascara, deodorants, and other beauty products (excluding the products listed under therapeutic goods).
At present, various cosmetic business enterprises use more than 5,000 different chemical compositions to offer selected cosmetic products. Based on their end-use applications, cosmetic chemicals have been further divided into surfactants, emollients, conditioning polymers, and UV absorbers.
| Attributes | Key Insights |
|---|---|
| Estimated Size, 2025 | USD 2,117.6 million |
| Projected Size, 2035 | USD 3,864.5 million |
| Value-based CAGR (2025 to 2035) | 6.2% |
These chemical-based products contain preservatives that hinder microbial growth and thereby offer longer shelf life to cosmetics. In addition, these chemicals contain a variety of vitamins, antioxidants, minerals, herbs, hormones, and fragrances. This vast range of cosmetic chemicals allows business cosmetics to deliver different types of cosmetics in the Industry, thereby offering a vibrant market to cosmetic industries.
The ASEAN cosmetic chemicals Industry is poised for continued growth, driven by increasing consumer demand for quality, innovative, and personalized beauty products. As the demand for clean, green, and sustainable beauty products increases, companies will continue to invest in research and development to introduce new formulations. Also, the expansion of e-commerce platforms and growing disposable incomes will further fuel Industry growth in the region.
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The table below presents the annual growth rates of the ASEAN cosmetic chemicals market from 2025 to 2035. With a base of 2024 and extended to the current year 2025, the report studied how the industry growth trajectory moves from the first half of the year-that is, January to June, (H1)-to the second half comprising July to December, (H2). This is an absolute comparison to offering the stakeholder's idea of how the sector has performed over time, with hints on developments that may emerge.
These figures indicate the sector's growth in each half-year between 2024 and 2025. The market is expected to grow at a CAGR of 5.6% in H1-2024, and in H2, the growth rate will increase to 5.8%.
| Particular | Value CAGR |
|---|---|
| H1 2024 | 5.6% (2024 to 2034) |
| H2 2024 | 5.8% (2024 to 2034) |
| H1 2025 | 5.9% (2025 to 2035) |
| H2 2025 | 6.2% (2025 to 2035) |
Moving into the subsequent period, from H1 2025 to H2 2025, the CAGR is projected to slightly decrease to 5.9% in the first half and relatively increase to 6.2% in the second half. In the first half (H1), the sector saw an increase of 30 BPS while in the second half (H2), there was a slight increase of 40 BPS.
Increasing Consumer Demand for Beauty and Personal Care Products
The demand for beauty and personal care goods is rising in the ASEAN nations as people become more conscious of issues linked to well-being, skincare, and personal grooming. People are spending more money on cosmetics, skincare products, shampoos, and other beauty items because they are more aware of their skin, hair, appearance, and appearance. Younger people are more conscious about their appearance and health, which has caused a more noticeable shift in the trend.
Social media and beauty influencers also play a big role in spreading beauty trends, making people more interested in trying out new products. As a result, more people are purchasing not just basic products but also premium items that promise better results. This sets up a self-reinforcing cycle: growing interest in looking good and feeling confident drives the consumption of cosmetic products across the region, thereby fueling demand for the same ingredients and chemicals used in making them.
Impact of Social Media and Beauty Influencers on Cosmetic Trends
Social media, beauty influencers, and TV advertising have also been among the biggest influencers in buying beauty products in most ASEAN countries. Instagram, YouTube, and social media allow beauticians and beauty influencers to demonstrate skin routines, makeup tutorials, and product reviews. These could result in an immensely huge following wherein one recommendation could create trends, thereby leading to a sudden rise in demand for that particular product.
When influencers talk about a new product or show how to use it, their followers are more likely to try it out themselves. This has increased interest in new and innovative cosmetics, from skincare solutions to makeup products.
Therefore, consumers have been more open to trying different types of beauty products and are always on the lookout for the latest trends. Social media has made beauty products much more accessible, and people are influenced by online opinions and reviews that push brands to keep innovating and meeting the industry's ever-changing demands.
Growth of Online Shopping and Its Impact on Cosmetic Demand
Online shopping platforms have completely changed the game in the beauty industry, making beauty products more accessible to consumers across ASEAN countries. E-commerce has allowed people to browse and buy a wide range of cosmetics from the comfort of their homes. Popular online platforms like Lazada, Shopee, and Tokopedia have become go-to destinations for beauty shoppers, offering everything from skincare products to makeup, hair care, and fragrances.
It was estimated that by 2023, beauty and personal care online sales would reach about USD 7 billion in ASEAN, growing 10% year-on-year. Digital shopping has become the easiest avenue to research, compare products, read reviews, and sometimes even discover new brands.
Besides that, beauty brands and retailers have enhanced their online presence through the offering of special deals and promotions, which, in addition, have driven sales through the roof. E-commerce became a leading driver of the cosmetic chemicals industry because it could deliver products to consumers quickly and directly to their doors. This led to an increasing demand for ingredients used to manufacture these products, as companies work to supply this growing online consumer base.
Balancing Consumer Preferences: Traditional vs. Natural Beauty Products in ASEAN
Consumer preferences in the ASEAN beauty Industry are evolving, with a noticeable shift towards natural and organic products. Many consumers are now more health-conscious and environmentally aware, leading them to seek out skincare, haircare, and cosmetic products made from natural ingredients. The desire for cruelty-free, non-toxic, and eco-friendly options is growing, especially among younger generations who are more focused on sustainability.
However, in some ASEAN countries, traditional beauty products and chemical-based cosmetics remain popular. For example, consumers in certain markets may prioritize affordability and familiarity, which often leads them to choose well-established, chemical-based products over newer, natural alternatives.
This presents a challenge for brands that are focusing on offering organic or natural solutions, as they need to convince these price-sensitive or more conservative consumers of the benefits of switching to cleaner, greener options. Manufacturers are therefore tasked with finding a balance between catering to both preferences-offering effective products that appeal to those looking for traditional solutions while also tapping into the growing demand for natural and organic beauty.
The ASEAN cosmetic chemicals industry recorded a CAGR of 5.7% between 2020 and 2024. The industry's growth was positive, as it reached a value of USD 1,994.0 million in 2024 from USD 1,582.5 million in 2020.
The ASEAN cosmetic chemicals Industry has experienced significant growth from 2020 to 2024. This growth is attributed to the increasing demand across various industries, such as such as skincare, haircare, color cosmetics, and fragrances. Consumers are becoming more aware of personal grooming and wellness, driving higher consumption of beauty products
The rise of e-commerce platforms has also played a crucial role, in making beauty products more accessible and convenient for consumers across the region. Along with that, increasing disposable incomes, urbanization, and a shift towards premium and luxury products have spurred Industry demand. The influence of social media and beauty influencers has created trends that further drive interest in new and innovative cosmetic items. Overall, these factors combined have significantly contributed to the expansion of the cosmetic chemicals Industry in ASEAN, with an ongoing trend expected in the coming years.
The ASEAN cosmetic chemicals Industry is poised for continued growth from 2025 to 2035, Consumers will increasingly demand more sustainable, natural, and cruelty-free cosmetic products, pushing manufacturers to adopt eco-friendly ingredients and packaging. The expansion of men’s grooming will increase demand for targeted cosmetic chemicals in skincare, haircare, and shaving products. As online shopping and social media continue to influence purchasing decisions, companies will need to leverage digital platforms for marketing and distribution.
Tier 1 companies include industry leaders with annual revenues exceeding USD 200 to 500 million. These companies are currently capturing a significant share of 55% to 65% ASEAN. These frontrunners are characterized by high production capacity and a wide product portfolio.
Tier 1 companies are distinguished by extensive manufacturing expertise and a broad geographical reach, underpinned by a robust consumer base. They provide a wide range of products to meet regulatory standards. Prominent companies within Tier 1 include Akzo Nobel NV, Ashland Global Holdings Inc., BASF SE, Dow Inc., and others.
Tier 2 companies encompass mid-sized participants with revenues ranging from USD 50 to 100 million. They hold a presence in specific regions and exert significant influence in local economies. These firms are distinguished by their robust presence overseas and in-depth industry expertise.
They possess strong technology capabilities and adhere strictly to regulatory requirements. However, they may not always possess the latest cutting-edge technologies or maintain an extensive global reach. Noteworthy entities in Tier 2 include Eastman Chemical Company, Evonik Industries AG,and Firmenich SA.
Tier 3 encompasses most small-scale enterprises operating within the regional sphere, catering to specialized needs with revenues below USD 10 to 30 million. These businesses are notably focused on meeting local demand and are hence categorized within the Tier 3 segment.
They are small-scale participants with limited geographical presence. In this context, Tier 3 is acknowledged as an informal sector, indicating a segment distinguished by a lack of extensive organization and formal structure compared to the structured one. Tier 3 Givaudan SA, International Flavors & Fragrances Inc.Global, P&G Chemicals, and others.
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The section below covers assessments of cosmetic chemicals sales across key countries. Countries from ASEAN, are anticipated to exhibit promising double-digit growth over the forecast period. All the below-listed countries are collectively set to reflect a CAGR of around 6.2% through the forecast period.
| Countries | Value CAGR (2025 to 2035) |
|---|---|
| Thailand | 9.1% |
| Indonesia | 10.3% |
| Vietnam | 10.8% |
| Philippines | 6.5% |
| Malaysia | 6.1% |
Thailand is one of the largest markets for cosmetic chemicals in ASEAN, with strong demand for both mass-market and premium products. Rising consumer awareness about skincare and wellness has significantly contributed to the growth of the cosmetic chemicals market.
Thai consumers are increasingly focused on skincare, driving demand for ingredients in products like moisturizers, anti-aging creams, and sunscreens. In addition, the growing interest in natural and organic products aligns with global trends, further boosting consumption of plant-based and eco-friendly cosmetic chemicals.
The strong e-commerce infrastructure of Thailand is one of the major reasons for Industry growth, as this makes the beauty products more accessible to a wider audience. Online platforms like Lazada and Shopee have been key drivers in increasing product consumption, especially among those consumers who seek convenience and variety.
On the production side, Thailand has an established cosmetics manufacturing industry producing a full spectrum of cosmetic chemicals for both local and international brands. The country has been a regional production hub for cosmetics and cosmetic exports that meet both domestic and global market demand. Furthermore, local manufacturers are very much concerned with innovation and adherence to regulations in producing safe and quality cosmetic chemicals.
Indonesia is a key player in the ASEAN cosmetic chemicals market, driven by its large population and an expanding middle class. With over 270 million people, Indonesia’s consumer Industry offers vast growth potential. Rising disposable incomes and urbanization have significantly increased the demand for beauty and personal care products. As more people adopt skincare routines, products like moisturizers, cleansers, and anti-aging treatments are becoming more popular.
Social media, particularly beauty influencers on Instagram and TikTok, has driven the adoption of new beauty trends, increasing demand. Consumers are also looking for innovative products, with a growing preference for natural and organic ingredients as they become more health-conscious.
E-commerce platforms, like Tokopedia, Bukalapak, and Lazada, are also very important in distributing products and making cosmetic products more accessible to consumers. By 2023, the online beauty and personal care industry in Indonesia will be valued at approximately USD 2.1 billion and continue to grow rapidly, hence driving demand for cosmetic chemicals.
Vietnam's rapid economic growth has significantly boosted consumer spending on beauty and personal care products. The country’s young population, particularly those aged 18-35, is driving the demand for skincare and cosmetic products, often seeking natural and organic options. This demographic's growing awareness of health and wellness has led to a rise in the consumption of eco-friendly and safe beauty products.
The continuous rise of urbanization expands the demand for cosmetic chemicals and local and international brands' race to meet consumer preferences. Skin and hair care have emerged as highly in demand because consumers concentrate on self-care routines for skin health.
The increasing middle class in Vietnam is significant for the growth of the market as disposable incomes increase, and thus, consumers become willing to spend more on premium beauty products. Besides this, e-commerce platforms like Shopee and Lazada have made beauty products easily accessible to end-consumers throughout the country. Such growing digital infrastructure supports the demand for cosmetic chemicals in the dynamically developing Industry of Vietnam.
The section explains the Value Share of the leading segments in the industry. In terms of Product Type, the Surfactants will likely dominate and generate a share of around 33.0% in 2024.
| Segment | Value Share (2024) |
|---|---|
| Surfactants (product type) | 33.0% |
Surfactants are one of the largest segments in the cosmetic chemicals market. They are crucial ingredients in many everyday beauty and personal care products, such as shampoos, body washes, facial cleansers, and toothpastes. Surfactants help these products work by creating foam and cleaning the skin and hair, making them a key part of most personal care routines.
With increasing awareness of skincare, hygiene, and grooming among ASEAN people, the demand for surfactant-based products has also continued to rise. Increasing awareness of cleanliness and the trend of performing daily personal care have raised the demand for soaps and shampoos, both of which use surfactants in very high amounts.
Surfactants are essential in personal care and household cleaning products. With more consumers looking for effective and safe products, surfactants play a major role in ensuring that beauty and hygiene products perform well. As a result, they hold a large share of the overall cosmetic chemicals Industry.
| Segment | Value Share (2024) |
|---|---|
| Skin Care (Application type) | 42.6% |
Skincare products, including moisturizers, cleansers, anti-aging creams, sunscreens, and face masks, are in high demand across ASEAN. This is because more people in the region are becoming aware of the importance of skincare and overall wellness. As consumers become more focused on self-care, they are adopting skincare routines to maintain healthy, glowing skin.
The demand for natural and organic ingredients is also a key factor driving the growth of the skincare industry. Many consumers prefer products that are safe, eco-friendly, and made with natural ingredients, aligning with global beauty trends. This shift toward natural products is driving more brands to offer skincare solutions that cater to these preferences.
Also, the rising awareness of sun protection, anti-aging, and skin health has led to a boom in the popularity of products like sunscreens and anti-aging creams. As a result, skin care products continue to dominate the ASEAN cosmetic chemicals Industry, capturing the largest share due to these growing consumer trends.
The section provides comprehensive assessments and insights that highlight current opportunities and emerging trends for companies in developed and developing countries. It analyzes advancements in manufacturing and identifies the latest trends poised to drive new applications in the industry.
A few key players in the cosmetic chemicals industry are actively enhancing capabilities and resources to cater to the growing demand for the compound across diverse applications. Leading companies also leverage partnership and joint venture strategies to co-develop innovative products and bolster resource base.
Significant players are also introducing new products to address the increasing need for cutting-edge solutions in various end-use sectors. Geographic expansion is another important strategy being embraced by reputed companies. Start-ups are likely to emerge in the sector through 2035, thereby making it more competitive.
Industry Updates
In terms of Product Type, the industry is divided into Emollients & Film Formers, Surfactants, Additives, Colorants, Thickening Agents, Polymer Ingredients, Preservatives
In terms of Application, the industry is divided into Skin Care Hair Care, Make-up, Oral Care, Perfumes & Fragrances, Others
Key countries of Malaysia, Thailand, Vietnam, The Philippines, Singapore, Indonesia, Rest of ASEAN, have been covered in the report.
The ASEAN market was valued at USD 1,994.0 million in 2024.
The ASEAN market is set to reach USD 2,117.6 million in 2025.
ASEAN demand is anticipated to rise at 6.2% CAGR.
The industry is projected to reach USD 3,864.5 million by 2035.
Akzo Nobel NV, Ashland Global Holdings Inc, BASF SE, Dow Inc, Eastman Chemical Company, Evonik Industries AG, Firmenich SA, Givaudan SA, International Flavors & Fragrances Inc, P&G Chemicals are prominent companies.
| Estimated Market Size (2024E) | USD 13,643.4 million |
|---|---|
| Projected Market Value (2034F) | USD 21,416.2 million |
| Value-based CAGR (2024 to 2034) | 4.6% |
| Projected Market Value (2022) | USD 15.89 Billion |
|---|---|
| Anticipated Market Value (2032) | USD 26.84 Billion |
| Global CAGR (2022 to 2032) | 5.4% |
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