Global Emollients Market to Grow with a CAGR of 4.42% through 2028
Surge in research and development activities is expected to drive the Global
Emollients Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Emollients
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Emollients Market stood at USD1.47 billion
in 2022 and is anticipated to grow with a CAGR of 4.42% in the forecast period,
2023-2028. The initiatives taken by government based on emollients has led to
favorable market conditions for the Global Emollients Market. Several factors
contribute to the growth of various emollients market products.
In light of
recent findings about the fire risks associated with emollients, governments
around the world have taken proactive measures to raise awareness and ensure
public safety. For instance, the UK's Medicines and Healthcare products
Regulatory Agency (MHRA) has extended warnings about the risk of severe and
fatal burns to all paraffin-based emollients, regardless of their
concentration.
To further
address this issue, firefighting agencies, including those in West Sussex and
London, have launched comprehensive campaigns urging users of emollient creams
to take necessary precautions and protect themselves against fire risks. These
agencies have provided simple yet effective prevention tips to minimize the
chances of accidents.
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The surge in
research and development (R&D) activities is playing a crucial role in
driving the growth of the emollients market. With an increasing focus on
innovation, companies are developing novel and advanced emollient products that
offer unique benefits and cater to the evolving consumer demands. This not only
expands the emollients portfolio but also presents new opportunities for market
expansion, as these innovative products find applications in various industries
such as personal care, pharmaceuticals, and cosmetics. As a result, the
emollients market is poised for significant growth in the coming years, fueled
by the continuous efforts to develop cutting-edge solutions and meet the
diverse needs of consumers worldwide.
The Global
Emollients Market is segmented into product type, application, regional
distribution, and company.
Based on its application, the hair care segment held
the largest share in the market. The increasing consumer awareness of beauty
and personal care, coupled with the desire for healthier and more vibrant hair,
is driving the demand for a wide range of specialized hair care products. These
products, including shampoos, conditioners, hair masks, creams, and hair gels,
among others, are specifically formulated with emollients to provide deep
hydration and nourishment to the hair and scalp. Emollients play a crucial role
in maintaining the moisture balance of the hair, preventing dryness and frizz,
and promoting overall hair health. With their unique properties and benefits,
emollients are becoming an essential component in the formulation of hair care
products, contributing to the growth and success of the emollient market.
Based on region, Asia Pacific segment is expected to
grow during the forecast period.
The market growth in this region is primarily
attributed to the rising demand for cosmetics products. The demand for personal
care products is tremendously increasing among millennials and young adults in
the region. This can be attributed to various factors such as increased
awareness about skincare and grooming, changing beauty standards, and the
influence of social media. As a result, numerous companies are launching innovative
personal care products targeting young adults and millennials. For instance, in
June 2022, Shiseido, a leading beauty brand, launched Sidekick, a new skincare
line specifically designed for Gen-Z men in the Asia Pacific region. This
product line aims to the unique skincare needs and preferences of cater to the
unique skincare needs and preferences of this demographic, offering effective
and tailored solutions. With the introduction of such specialized products, the
personal care industry is continuously evolving to meet the ever-changing
demands of the market and consumers.
Major
companies operating in Global Emollients Market are:
- BASF SE
- Clariant AG
- Eastman Chemical Company
- The Lubrizol Corporation
- Covestro AG
- Evonik Industries AG
- HallStar Company
- Croda International Plc
- Ashland Inc.
- Lonza Group AG
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“Growing application of emollients in various end user
industries are key drivers of the emollients market. Growth in competitive
landscape and presence of well-established companies in the market who are
dedicated to enhance their productivity of emollients with every passing year
are anticipated to register an impressive growth to Global Emollients Market in
the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Global Emollients
Market By Product Type (Isopropyl Myristate, C12-15 Alkyl Benzoate,
Caprylic/Capric, Triglyceride, Cetyl Palmitate, Myristyl Myristate, Others), By
Application (Hair Care, Cosmetics, Oral Care, Skincare, Fragrances, Toiletries,
Others), By Region, By
Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Emollients 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 Emollients Market.
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