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Global Mannosylerythritol Lipids Market to Approach US$ 3,495.7 Mn by 2022
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On the basis of end-use industry, the market has been segmented into household detergents, personal care & cosmetics, pharmaceuticals, food, and others. The household detergents segment accounted for over 29.7% value share of the global mannosylerythritol lipids market in 2015 and is expected to register a healthy CAGR similar to that projected for the global mannosylerythritol lipids market over the forecast period. Furthermore, personal care & cosmetics segment accounted for 29.7% value share of the overall market in 2015 and is expected to grow at the fastest CAGR of 5.7% in terms of value, over the forecast period.
The household detergents segment is sub-segmented into the laundry, dish wash, and others. The laundry sub-segment is expected to grow at the fastest growth rate over the forecast period owing to the rising demand of MEL as a non-toxic alternative to chemical-based detergents. Personal care & cosmetics segment is further sub-segmented into skin care, hair care, and others. The skin care sub-segment is expected to grow at the fastest value CAGR of 6.1% over the forecast period owing to the increasing demand for MEL as a moisturising ingredient in skin care products.
Revenue contribution of pharmaceuticals segment was 23.3% in 2015 and is projected to grow to 24.6% by 2020, witnessing an increase of 130 Basis Point Share and registering a healthy CAGR of 5.6%. The food segment is forecast to witness a steady growth over the forecast period owing to the increasing application of MEL in food processing.
The global mannosylerythritol lipids market has been segmented into five major regions which include North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. Of all the regions, Europe dominated the market with over 32.2% of the overall mannosylerythritol lipids market volume share of in 2015. North America ranked second with 25.9% market volume share in 2015, followed by Asia Pacific. In addition, Asia-Pacific is anticipated to become the fastest growing region in the global mannosylerythritol lipids market.
The growth of the global mannosylerythritol lipids market is mainly driven by rising demand for environment-friendly products, tremendous promise for use in wide range of applications, and the rising demand of MEL as a natural ceramide substitute. Other trends driving the growth of the global mannosylerythritol lipids market include the production of MEL-B using sugarcane juice as the primary carbon source, and customizing the product portfolio more specific to an application.
This report covers trends driving each segment and respective sub-segments and offers analysis and insights of the potential of the mannosylerythritol lipids market in specific regions. Europe dominated the global mannosylerythritol lipids market with over 34.1% market share in 2015 and is anticipated to remain dominant by 2022. North America and Asia-Pacific collectively accounted for over 47.9% of the total mannosylerythritol lipids market share in 2015. Among all the regions, Asia Pacific is anticipated to register the highest CAGR between 2016 and 2022, followed by Europe and MEA due to increasing awareness regarding bio-based products within this region.
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Key players in the global mannosylerythritol lipids market include Toyobo Co. Ltd., Biotopia Co Ltd., and Damy Chemicals Co. Ltd. Major participants such as Toyobo Co. Ltd. focus on expanding into overseas markets for its bio-products through strategic mergers and acquisitions in order to attain a sustainable advantage over the competition. In addition, the key players also focus on expanding their product portfolio through innovative product launch with the objective to enhance customer base. Apart from the above-mentioned strategies, these major players also focus on research and development activities and partnerships with various small-scale MEL manufacturers.
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