International investment in Asian beauty proliferates as KLK Oleo, Hydrinity, Lanxess expand presence
KLK Oleo and specialty chemicals company Lanxess have increased their business operations in Mumbai, India. Meanwhile, Hydrinity Accelerated Skin Science has partnered with Philomedicare Alliance, a distributor of advanced dermatological and aesthetic devices based in Singapore.
These recent company expansions and partnerships indicate key growth opportunities in the region. Last month, Innova Market Insights data showed a 5% global increase in women’s care product launches from July 2022 to June 2024, with Asia leading with a 47% share of these launches.
Portfolio of care
KLK Oleo is establishing a new representative office called KLK OLEO India (KLKOI) in Mumbai. The global oleochemical producer aims to strengthen its relationships with customers, distributors, and partners in India.
“We offer a diverse portfolio ranging from basic oleochemical products, such as fatty acids, glycerine, fatty alcohols, and fatty esters, all the way down the spectrum to specialties, such as methyl ester sulphonates, surfactants, and phytonutrients.
KLK Oleo has a portfolio of home and personal care, flavors and fragrances, lubricants, pharmaceuticals, food and nutrition, polymers, and industrial chemicals. It calls India a growing market and believes that its local presence will allow it to expand its business portfolio and explore new opportunities.
Indian market exploration
Lanxess is also opening a Mumbai facility with the India Application Development Centre (IADC). The IADC will focus on lubricant additives and material protection products such as antimicrobial, disinfection, and preservation solutions. Lubricant additives and material protection are two key businesses in India.
KLK Oleo and Lanxess are expanding their presence in Mumbai. The facility supports innovation and tailored solutions for India’s industrial and consumer markets. Lanxess says the move is part of its strategic focus on India as a key market and innovation hub to provide specialized solutions tailored to local needs.
Lanxess already has a strong presence in India, with representation from all ten of its business units. The company operates production hubs in Jhagadia and Nagda, specializing in flavors and fragrances.
Clinically-backed partnership
In a similar move, Hydrinity Accelerated Skin Science’s partnership with Philomedicare Alliance represents the growing international interest in the Asian beauty market.
The US skin care brand will leverage Philomedicare Alliance’s over 10 years of experience in Singapore and Hong Kong. The Singapore-based company provides clinical-focused medical technology.
Philomedicare Alliance is led by physicians from Europe and Asia to generate medical aesthetic innovations.
“Philomedicare Alliance is led by a team of world-class trained physicians and known for its emphasis on the most clinically proven products. Their commitment to the highest level of training and support will give us a distinct market advantage as we introduce Hydrinity to these important lucrative markets,” says Brent Nixon, COO of Hydrinity.
Singapore and Hong Kong are considered two of the “East Asian Tigers” for their economic growth and thriving aesthetic markets since 1960. These regions are known for a high demand for advanced skin care products and services — primarily focused on medical aesthetic procedures such as Botox, fillers, and laser treatments.
Hydrinity will use Philomedicare Alliance's physicians to create advanced skin care.
Hydrinity says the areas have a combined skin care market opportunity exceeding US$1 billion. With its proximity to mainland China, Hong Kong has a larger and more established market, while Singapore is recognized for its premium clinics that emphasize natural-looking results.
Asian market rises and falls
Innova Market Insights data reveals that botanical solutions are rising in Asia, with skin care as the leading category.
France-based cosmetic company Roquette Beauté opened an Expertise Center in Shanghai, China, to create plant-based beauty ingredients for the Chinese cosmetic market.
Roquette Beauté told us that it chose Shanghai because it is “in the heart of one of China’s main cosmetics hubs, which allows for closer partnerships and collaborations with key players.”
However, L’Oréal recently announced that it is becoming less dependent on Chinese consumers for growth amid a continuous decline in quarterly North Asia sales due to a “challenging” Chinese ecosystem.
Personal Care Insights also found that other personal care and beauty companies faced similar challenges in China.
