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Humectants Industry Analysis and Insights Report 2024
"The Business Research Company recently released a comprehensive report on the Global Humectants Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.According to The Business Research Company's, The humectants market size has grown strongly in recent years. It will grow from $28.64 billion in 2023 to $30.8 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to food and beverage industry growth, pharmaceutical applications, prevalence of dry and sensitive skin conditions, functional properties in food, demand in agriculture..
The humectants market size is expected to see strong growth in the next few years. It will grow to $41.27 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to growing clean beauty movement, rise of e-commerce platforms, functional foods and nutraceuticals, r&d in healthcare applications, global water scarcity concerns.. Major trends in the forecast period include innovations in packaging, customization in personal care products, advancements in biotechnology, cross-industry collaboration, innovation in formulations..
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Market Drivers and Trends:
The rise in demand in cosmetics is expected to propel the growth of the humectants market, going forward. Cosmetic refers to the products that enhance or alter a person's appearance. Humectant acts as a typical moisturizing ingredient employed in lotions, shampoos, and other cosmetics, that attracts moisture from the atmosphere into the skin's outer layer, so the rise in demand for cosmetics will propel the growth of the humectant market. For instance, in February 2022, according to the data published in the annual report, released by L'Oréal S.A., a France-based, personal care and cosmetic company, the total annual sale of an active cosmetic segment of the company increased by 31.8%, recording €3,924.0 million ($ 4318 million) in 2021, compared with €3,011.1 million ($3313.44 million) in 2020. Therefore, the rise in demand for cosmetics is driving the growth of the humectant market.
An increase in innovations is a key trend gaining popularity in the humectants market. Companies operating in the humectant market are focusing on innovations to sustain their position in the market. For instance, in 2022, Nexus Ingredient a UK-based, company engaged in the development and marketing of products including, humectants, binders, natural preservatives, fibers, and natural emulsifiers/stabilizers, launched MoistPlus® Syrup, an all-natural humectant syrup made from cassava root that is devoid of gluten, dairy, allergens, fructose, and grains. MoistPlus® syrup provides unmatched humectant results, water absorption control, humidity control, appearance performance, a shelf-life extension, product cleanliness and integrity, improved yields, and organic colorant.
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Major Key Players of the Market:
Ashland Global Holdings Inc.; Barentz International BV; Brenntag SE; Cargill Incorporated; DuPont Tate & Lyle Bio Products Company LLC; Ingredion Incorporated; Corbion N.V; The Lubrizol Corporation; Vantage Specialty Chemicals Inc.; VMP Chemiekontor GmbH; Lipo Chemicals Inc.; Ederma Pharma India Private Limited.; 5M Biotech India; Roquette Frères Ltd.; Xena International Inc.; Archer Daniels Midland Company; BASF SE; DuPont de Nemours Inc.; Croda International plc; Wacker Chemie AG; Akzo Nobel N.V.; Clariant AG; Eastman Chemical Company; Solvay S.A.; Evonik Industries AG; PPG Industries Inc.; Stepan Company; Huntsman Corporation; Glanbia plc; Galaxy Surfactants Ltd.
Humectants Market 2024 Key Insights:
• The humectants market will grow to $41.27 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
• The Surge In Cosmetic Demand Drives Growth In The Humectants Market
• Key Players Innovations Driving Humectants Market Growth
• North America was the largest region in the humectants market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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