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Hypnea Musciformis Extract Market Segmented By Hypnea (Algae) and Seaweeds source in Economic and Premium price range in Concentrate, Liquid and Powder form
Continuous surge of skin friendly cosmetic products is creating an intense need of product innovation in the cosmetic industry. Moreover, supply side trends and demand side trends are continuously changing in the market with arrival of new skin care products. In present scenario, customers are moving towards choosing specific ingredient for various purpose.
This trend is postitively influencing the growth of the cosmetics ingredient industry. The cosmetics ingredient industry is witnessing a significant growth due to changing cosmetic trends pertaining to the ingredient use in cosmetics products. Use of hypnea musciformis extract for soothing the skin, protect collagen and to increase cell turnover has rapidly increased the demand of hypnea musciformis to use it as a cosmetics ingredient.
Although, benefits of hypnea musciformis extract such as source of trace minerals, sugars and amino acids are attracting the cosmetics companies towards usage of hypnea musciformis extract in the skincare products. Moreover, flexibility in the usage of the hypnea musciformis extract in various form is expected to fuel growth of the hypnea musciformis extract market in terms of volume.
Drivers for Hypnea musciformis extract Market
Changing cosmetic industry trend and customers purchasing enhancement for specific skin products is expected to positively influence growth of the hypnea musciformis extract market during the forecast period. Moreover, increasing customer’s awareness towards use of skin care products instead of beauty products and increasing purchasing power of customers due to increasing disposable income is expected to be key factors driving growth of the hypnea musciformis extract market. Rapid growing product penetration in various regions globally through online sales channel is a major factor driving growth of hypnea musciformis extract market during the forecast period.
Trends for Hypnea Musciformis Extract Market
Key players in the hypnea musciformis extract market are principally focused on advertisement of the products through, social networking sites, and through other modes.
Moreover, product innovation is a key trend adopted by the key players in the hypnea musciformis extract market. For example, in fiscal year 2017-18, SILAB Company has introduced a seaweed extract under the name Deglysome (INCI: Hypnea Musciformis Extract), that limits cellular and tissue damage caused by glycation and Advanced Glycation End Products (AGEs).
Opportunities for Hypnea Musciformis Extract Market
Sales of hypnea musciformis extract through e-Commerce is further anticipated to witness significant growth over the forecast period owing to higher adoption of smartphones and due to increasing internet penetration in various untapped hypnea musciformis extract markets across Asia Pacific region.
Challenges for Hypnea Musciformis Extract Market
Use of conventional skin care products due to unawareness of advantages of hypnea musciformis extract and high cost related to them is challenging growth of the hypnea musciformis extract marlet in terms of value.
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Some of the key players operating in the global hypnea musciformis extract market are SILAB, Parchem, ASSESSA, Yasham, Essentials by Catalina, Seppic, RITA Corporation among others. These players are expected to fuel growth of growth of the hypnea musciformis extract market over the forecast period.
Europe is expected to hold a significant market value share in the global hypnea musciformis extract market due presence of a significant number of vendors, distributers and suppliers in the market. Moreover, increasing customer’s expectation for skin care products is expected to fuel growth of the hypnea musciformis extract market during the forecast period.
North America is expected to witness a significant growth in the hypnea musciformis extract market due to increasing growth of healthcare industry and due to significant awareness among cosmetics companies and customers regarding the product.
Hypnea musciformis extract market in Asia Pacific is expected to witness a rapid growth during the forecast period because of significant growth of cosmetics ingredient industry and due to ease of availability of hypnea musciformis extract in the region.
Key players are penetrating in the hypnea musciformis extract market in Asia Pacific, Latin America and Middle East & Africa through third party e-commerce. Moreover, increasing customer’s purchasing power for cosmetic products in these regions has inspired cosmetics companies for using ingredient such as hypnea musciformis extract in the products, which is expected fuel growth of the hypnea musciformis extract market during the forecast period.