Caprylyl Glycol: Global Market Analysis and Forecast for 2024

The caprylyl glycol market size has grown strongly in recent years. It will grow from $1.47 billion in 2023 to $1.59 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to rising demand for the skincare products, growing demand for organic cosmetics, increasing demand for natural preservatives, demand from end-use industries, expanding beauty and personal care industry.

The caprylyl glycol market size is expected to see strong growth in the next few years. It will grow to $2.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increasing popularity of natural cosmetics, rising awareness of product safety, rising popularity of clean beauty, benefits of using caprylyl glycol in various applications, increasing demand for skincare treatments. Major trends in the forecast period include expansion in emerging countries, increase in production capacity, technological advancements in caprylyl glycol, innovation in formulations, focus on ethical and sustainable sourcing.

Market Overview -
Caprylyl glycol is a cosmetic ingredient that serves as a humectant, moisturizer, and preservative enhancer in skincare and personal care products. It is a type of alcohol derived from caprylic acid, which is naturally found in coconut and palm oils. Caprylyl glycol helps to keep products stable, prevents microbial growth, and can also impart a silky, smooth feel to the skin.

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Growing Demand For Natural And Organic Cosmetics Driving Caprylyl Glycol Market
Growing demand for natural and organic cosmetics is expected to propel the growth of the caprylyl glycol market going forward. Natural and organic cosmetics refer to beauty and personal care products formulated with natural ingredients and produced without synthetic chemicals, artificial preservatives, or genetically modified organisms (GMOs). The demand for natural and organic cosmetics continues to surge as consumers prioritize clean, sustainable, and environmentally friendly products. Natural and organic cosmetics use caprylyl glycol, as a skin-conditioning agent derived from renewable sources such as coconut oil, due to its multifunctional properties, including its ability to moisturize and preserve products. For instance, in March 2022, according to the annual organic beauty and wellbeing report by the Soil Association, a UK-based charity organization, in 2021, the sales of Soil Association-certified organic and natural beauty and wellbeing products in the UK experienced a 15% growth, reaching around $170 million. Therefore, the growing demand for natural and organic cosmetics is driving the development of the caprylyl glycol market.

Competitive Landscape -
Major companies operating in the caprylyl glycol market are Archer Daniels Midland Company, BASF SE, Dow Inc., LyondellBasell Industries N.V., Merck KGaA, Evonik Industries AG, DuPont de Nemours Inc., Huntsman Corporation, Avantor, Lonza Group AG, Lubrizol Corporation, Clariant AG, Symrise AG, Croda International Plc, Ashland Global Holdings Inc., Innospec Inc., Galaxy Surfactants Ltd., Thor Specialties, Schulke & Mayr GmbH, Spectrum Chemical Manufacturing Corp., Colonial Chemical Inc., Hallstar Company, INOLEX Inc., Floratech, Tri-K Industries Inc., Lotioncrafter LLC, The Good Scents Company, Pilot Chemical Company

Innovation With Bio-Based Glycol To Enhance Sustainability
Major companies operating in the caprylyl glycol market are developing innovative formulations, such as bio-based glycol, to increase the natural origin index of personal care products. Bio-based glycol refers to glycol, a type of alcohol derived from renewable biological sources rather than traditional fossil fuels. For instance, in April 2022, Symrise AG, a Germany-based chemicals company, launched Hydrolite 8 Green, a 100% bio-based caprylyl glycol derived from palm kernel oil, offering sustainability and similar properties to its synthetic counterpart. This ingredient serves as a moisturizer, improves sensory profiles, acts as a wetting agent, and enhances product protection in cosmetic formulations. It represents a sustainable choice for formulators seeking multifunctional ingredients with high performance and eco-friendly characteristics.

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Key Segments -

The caprylyl glycol market covered in this report is segmented -

1) By Type: Cosmetic Grade, Industrial Grade
2) By Application: Haircare Products, Skincare Products, Toiletries, Makeup And Color Cosmetics, Other Applications
3) By End-Use: Pharmaceuticals, Cosmetics And Personal Care, Industrial

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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