Active and functional ingredients specialist Lucas Meyer is looking to acquisition and internal growth to unleash significant growth potential in both the Americas and Asia Pacific.
“Although France has traditionally been the most important market for our business, we the biggest future growth potential on both the Asia Pacific and North America markets, while Brazil also holds significant potential for us,” said Christine Desy, global commercial director, in an interview with Cosmetics Design at the recent PCHi event in Guangzhou, China.
“Although markets throughout the Asia Pacific region will continue to grow in the next year, we are expecting some of the most significant growth in the North America market, which we are forecasting double digit growth for.”
Continued ingredients innovation
A lot of that growth is also driven by a constant stream of increasingly innovative ingredients that the company continues to launch every year.
On average the company has unveiled between three and five new ingredients every year, with a number of those new products receiving industry acclamation, most notably by winning best ingredient prizes at the last two European in-cosmetics events.
“One of our objectives is to continue the development of active ingredients that are tailored to varying market needs. Every market has a different cultural and racial mix, which means different needs for cosmetic and personal care products.”
China leads the way for the company in Asia Pacific
Desy went on to explain that China is clearly the most important market for the company in Asia, because of both its size and potential for future growth.
“The continued growth of the PCHi in China is testimony to the importance of this market, and I believe this event is set to become the biggest in Asia for the cosmetics ingredients market.”
“We have to carefully present our products to the China industry, discussing and educating formulators about our ingredients. But at the same time we also have to be sure that we are tapping into both the consumers’ needs and the latest trends.”