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Biz News Korea(Eng)
CJ CheilJedang makes a foray into cosmetic ingredient market
- Collected
- 2016.11.09
- Distributed
- 2016.11.10
- Source
- Go Direct
South Korea’s leading processed food producer said on Tuesday that under new brand N’ gredient, it will develop cosmetics ingredients with naturally derived ingredients and fermentation methods. N’ gredient is combined term of “Natural” and “Ingredient,” the company said.
Cosmetic ingredients are largely divided into two groups - “active” ones, which are responsible for delivering proposed benefits such as skin whitening and ultraviolet (UV) protection, and “base” ingredients that play a role of improving the function of cosmetics like skin absorption and texture. The Korean company will develop both active and base products.
An official at CJ CheilJedang said the company has already developed active ingredients by using fermented wheat germ extract and base ingredients based on sunflower oil.
Global demand for natural ingredients for cosmetics was estimated at 18 trillion won ($15.8 billion) last year, with base ingredients making up over 80 percent of the market. Yet this is an area that is new to Korean companies and CJ CheilJedang hopes it can usher the way for local peers.
On Tuesday, Shares of CJ CheilJedang closed at 371,500 won, up 2.06 percent, or 7,500 won, from the previous session.
By Lee Sae-bom
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]