According to Fact.MR’s recent forecast study, the global market for humectants is pegged to expand at a CAGR of 4.2% in terms of value during the forecast period, 2017-2026.
Rockville, MD -- (SBWIRE) -- 02/15/2018 -- Substances and materials that can retain moisture play a pivotal role in production of cosmetics. Commonly known as humectants, these substances ensure that ingredients in the cosmetic product penetrate the human skin and effectively serve their purpose. The transepidermal absorption and retention of humectants helps in maintaining the required moisture content in cosmetic products. In the view of growing incidence of skin disorders and changing weather conditions, the demand for humectants is pegged to gain traction in the cosmetics industry. In the near future, humectants are likely to find application in the production of several other consumer goods including tobacco products.
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Fact.MR's latest forecast report estimates that during the period, 2017-2026, the global humectants market is assessed to expand at a 3.8% CAGR in terms of volume. The report also estimates that by the end of 2026, humectants worth over US$ 4.4 Bn will be sold across the globe. The report has addressed several factors influencing the dynamics of the global humectants market through 2026. Key highlights from the report have been revealed as:
4 Key Insights from the Report
1- In 2017, more than 640,000 tons of glycerol was sold in the global humectants market. Throughout the forecast period, glycerol will represent the highest-selling humectant, registering a healthy CAGR. The report further estimates that the demand for glycols as humectants will also gain traction in the future. Over the forecast period, glycols will register a modest growth at a 4.1% CAGR in terms of volume. Increasing use of glycols as an additive in production of cosmetics will continue to support its growth in the global humectants market through 2026.
2- Skin care product applications of humectants are expected to bring in the highest amount of revenues in the global market. The report estimates that more than 40% of humectants produced in the world will be used for manufacturing skin care products throughout the forecast period. Moreover, the effective use of humectants in shampoos and hair conditioners will continue to boost their hair care product applications. By the end of 2026, nearly half a million tons of humectants are expected to be used in production of hair care products.
3- The report further assesses that majority of humectants will be sourced synthetically due to cost-saving production process and easy raw material procurement. By the end of 2026, more than three-fifth of humectants produced in the global humectants market will be sourced synthetically.
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4- The report further reveals that the Asia-Pacific excluding Japan (APEJ) region will be the largest market for humectants during the forecast period. Global leaders of cosmetics industry continue to expand their manufacturing bases in the APEJ countries like China and India. This has propelled the uptake for humectants in the APEJ region. By 2026, sales of nearly 1 million tons of humectants are expected to be registered by the APEJ market.
The report has profiled leading producers of humectants, which include companies such as Cargill, Archer Daniels Midland Company, The Dow Chemical Company, Roquette Frères, E. I. du Pont de Nemours and Company, BASF SE, Ingredion Incorporated, The Lubrizol Corporation, VMP Chemiekontor GmbH, Wuhan Sanjiang Space Gude Biotech Co., and Vantage Specialty Ingredients, Inc. These players are expected to instrument the global humectant production in the year to come. Majority of humectant producing companies will be focusing on increasing the moisture retention properties of their products. Complexities emerging in the global humectant supply chain and raw material procurement will continue to challenge the production in the global humectant market through 2026.
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