Humectants Market to Grow with a CAGR of 5.82% through 2028
Growing usage of humectants in the manufacture of
animal feed and increased consumer preference for natural & organic
products is expected to drive the Global Humectants Market growth in the
forecast period, 2024-2028.
According to TechSci Research report, “Humectants
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Humectants Market stood at USD 26.54 Billion in 2022 and is
anticipated to grow with a CAGR of 5.82% in the forecast period, 2024-2028. The global
humectants market is driven by several key factors. The increasing demand from
the food and beverage industry, where humectants are used to maintain moisture
and extend shelf life, propels market growth. The personal care and cosmetics
industry also contributes significantly to the demand for humectants, as they
are essential ingredients in many skin and hair care products. Furthermore, the pharmaceutical industry's
requirement for humectants in formulations to promote drug stability adds to
the market momentum. Emerging markets and advancements in technology present
future growth opportunities for the global humectants market. The Global Humectants Market is a rapidly evolving and
dynamic industry that holds significant potential for growth. Humectants, which
are substances that help retain moisture, are increasingly in demand across
various sectors, notably in food and beverage, pharmaceuticals, and cosmetics,
owing to their excellent moisture retention properties. In the food and
beverage industry, humectants play a crucial role in ensuring quality and
prolonging the shelf life of products. They are used to enhance taste, maintain
the desired texture, and prevent moisture loss, thereby preventing food
spoilage and ensuring that products remain fresh for extended periods.
Similarly, in the cosmetics industry, humectants are
essential ingredients in skincare and haircare products. They are widely used
in lotions, shampoos, and conditioners to keep the skin moisturized and the
hair healthily hydrated. By preventing dryness and maintaining skin elasticity,
humectants contribute to the overall efficacy of these products, providing
consumers with desired results. Moreover, the pharmaceutical industry heavily
relies on humectants for the formulation of various medications, particularly
in liquid and semisolid dosage forms. Humectants not only help maintain the
consistency and stability of these formulations but also increase their shelf
life, ensuring their effectiveness over time.
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Market trends indicate a robust growth trajectory for
the humectants market. The increasing awareness about the health benefits of
humectants, coupled with the rising popularity of clean-label products, is
fostering market growth. Furthermore, advancements in technology are paving the
way for the development of innovative synthetic and natural humectants, further
propelling the market's expansion. However, it's important to note that the
market does face certain challenges. Fluctuations in raw material prices and
stringent regulations regarding product approval and labeling can hinder the
market's growth. Additionally, the growing demand for organic and natural
products may impact the market for synthetic humectants. Industry players need
to navigate these challenges while capitalizing on the opportunities presented
by the expanding applications of humectants across diverse sectors. Nonetheless,
the global humectants market is poised for significant growth in the coming
years. As consumer preferences continue to evolve and technological
advancements pave the way for innovative products, the humectants market is set
to witness unprecedented growth. This makes it an exciting area for investment
and development, with ample opportunities for businesses to thrive and
contribute to the overall growth of the industry.
The Global Humectants Market is segmented into type, source,
application, regional distribution, and company
Based on source, the natural humectants segment
emerged as the dominant force in the global humectants market. Glycerine,
honey, and aloe vera are prime examples of natural humectants derived from
eco-friendly sources, promoting human health. The increasing popularity of
natural and organic products in the food and cosmetics industries is a key
driver for the demand of natural humectants. Glycerine, widely used as a
natural sweetener and humectant in baked goods, confections, and beverages,
guarantees optimal moisture retention. The market for natural humectants
continues to expand as the demand for organic cosmetics and personal care
products rises.
During the forecast period, the synthetic humectants
segment is projected to exhibit the highest revenue CAGR. Synthetic humectants
such as propylene glycol, butylene glycol, and Sorbitol find wide usage in the
cosmetics and pharmaceutical sectors due to their superior moisture retention
properties and extended shelf life. Additionally, synthetic humectants are
highly sought after for their cost-effectiveness and ease of manufacturing. For
example, propylene glycol, a common synthetic humectant, is found in various
cosmetics and personal care products including moisturizers, shampoos, and
conditioners. It is also utilized as a humectant and solvent in oral and
topical pharmaceutical treatments.
Based on region, during the forecast period, the Asia
Pacific market is projected to generate the highest revenue share for the
humectants industry. The region's expansion is driven by the growing demand for
humectants in the personal care, cosmetics, as well as the food and beverage
sectors. Factors such as increasing urbanization and population in countries
like China and India have contributed to the growth of the humectants market in
the region. Furthermore, the presence of major competitors offering a wide
range of products and services has fostered innovation and competition, further
fueling market expansion. In the North American market, a substantial revenue
CAGR is expected during the projected period, primarily due to the rising
demand for humectants in the personal care and cosmetics industries. Increased
awareness of the benefits of natural and organic products has driven the demand
for humectants in the region. The existence of significant competitors, such as
Ashland Global Holdings Inc. and DuPont de Nemours Inc., offering a variety of
humectants has also contributed to market growth.
The moderate growth of the Europe market over the
forecast period is likely to be propelled by the increasing demand for
humectants in the food and beverage industry. The consumption of packaged and
processed food in the region has driven significant growth in the food and
beverage sector. Humectants are widely used in the industry to prevent food
products from drying out and to extend their shelf life. The presence of major
competitors, including BASF SE and The Dow Chemical Company, offering a variety
of humectants has also contributed to market expansion.
Major companies operating in Global Humectants Market
are:
- Archer Daniel Midland Company
- Ashland Global Holdings Inc.
- BASF SE
- Barentz BV
- Brenntag AG
- Cargill Incorporated
- DuPont de Nemours, Inc.
- Ingredion Incorporated
- Roquette Freres
- Dow Inc.
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“The future of the global humectants market holds
great promise, driven by the increasing consumer awareness of the skincare and
haircare benefits. This positive trajectory is evident through the ongoing
innovation in natural and organic humectant formulations. These ingredients,
which attract moisture to the skin and hair, are in high demand due to the
growing consumer preference for natural and sustainable beauty products.
Consequently, cosmetic manufacturers are incorporating them into their
formulations, enhancing their offerings with added moisturizing benefits. Humectants
are not only gaining popularity in the beauty industry but also making strides
in the food and beverage sector. With their ability to retain moisture, they
play a crucial role in extending the shelf-life of various products. Whether
it's preserving the freshness of baked goods or preventing crystallization in
candies and frozen foods, humectants offer significant advantages. As food
manufacturers seek preservation solutions without compromising taste and
texture, the demand for humectants in this industry is expected to rise. The
global humectants market is poised for substantial growth. The increasing
awareness of their benefits, coupled with continuous application innovation,
will drive market expansion in the years to come.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Humectants Market - Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Sugar Alcohol,
Alpha Hydroxy Acid & Polysaccharides, Glycols, and Others), By Source
(Synthetic and Natural), By Application (Food & Beverages, Oral &
Personal Care, Pharmaceuticals, Animal Feed and Others), By
Region and Competition”, has evaluated the future growth
potential of Global Humectants Market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in
Global Humectants Market.
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