INDONESIA NUTRICOSMETICS MARKET ANALYSIS

Market News

Key Development

• During the COVID -19, Paragon Group launched new cosmetic brands to cater to the changing needs of Indonesian consumers who were spending more time at home and shopping online. The company unveiled brands, such as Emina and Putri, which offer affordable and halal-certified cosmetic products designed for younger consumers.
• Skincare products made from natural ingredients are particularly popular. As an example, Sensatia Botanicals and Martha Tilaar make-up products are designed to withstand the hot and humid climate in Indonesia.
• Sanofi and Innate Pharma SA announced an expansion of their partnership in December 2022. Sanofi licensed an NK cell engager program from Innate's ANKETTM (Antibody-based NK Cell Engager Therapeutics) technology that targets B7H3. Along with Sanofi be able to choose to add up to two more ANKETTM targets.
• Croda International Plc ('Croda') announced on February 6, 2023 that it has reached an agreement to purchase a leader in high-end, biotechnology-derived beauty actives, Solus Biotech ('Solus'), from Solus Advanced Materials on a KRW350bn (about £232m) total consideration basis.cash-free and debt-free basis. The purchase gives users access to Solus' current biotech-derived developing capabilities in natural retinol, phospholipid and ceramide technology.