Lanolin, popularly known as wool wax or wool grease, is a wax secreted by the sebaceous glands of wool bearing animals. Lanolin consists of sterol esters. It is estimated that there are around 10,000 to 20,000 different types of sterol esters present in lanolin. Lanolin possess a waterproofing property, which helps sheep to repel water from their fur. Thus, a major role of lanolin is to protect the wool and skin of sheep from climatic conditions. Lanolin and its derivatives are primarily used in skin treatment and protection in humans. In terms of composition, high purity grade of lanolin is typically composed of a large proportion of long chain waxy esters while the remaining portion consists of lanolin acids, lanolin alcohols, and lanolin hydrocarbons. Lanolin is mixture of various esters, alcohols, and fatty acids. Increasing population across the world and rising usage of cosmetics are the major drivers that are anticipated to drive the lanolin market during the forecast period.