|
Forecast
Period
|
2024-2028
|
|
Market
Size (2022)
|
USD
26.54 Billion
|
|
CAGR
(2023-2028)
|
5.82%
|
|
Fastest
Growing Segment
|
Natural
|
|
Largest
Market
|
Asia
Pacific
|
Market Overview
Global
Humectants Market has valued at USD 26.54 Billion in 2022 and is anticipated to
project impressive growth in the forecast period with a CAGR of 5.82% through
2028. Humectants are hygroscopic organic compounds that form hydrogen bonds
with water molecules. These moisture-attracting substances can be derived from
natural sources, such as glycerin, honey, aloe vera gel, and lactic acid, or
they can be synthetically produced. By absorbing moisture from the air and
retaining it in the stratum corneum, the upper layer of the skin, humectants
play a crucial role in maintaining skin hydration. Not only do they help make
the skin appear soft, supple, and hydrated, but they also reduce flakiness,
cracking, and chaffing. Due to these beneficial properties, humectants are
extensively utilized in the manufacturing of beauty and personal care products,
ensuring that your skin remains nourished and protected.
Key Market Drivers
Rising Demand for Skincare &
Haircare Products
The
global surge in demand for skincare and haircare products is expected to
significantly propel the humectants market. Humectants, substances that retain
moisture, are critical components in these products, enhancing their efficacy
by preventing the loss of moisture, thus ensuring skin and hair remain
hydrated, supple, and healthy. As consumers become more knowledgeable and
concerned about the health of their skin and hair, the demand for high-quality,
moisture-retaining products rises. This growing interest is further ignited by
increased cosmetic industry innovation and the emergence of personalized beauty
products tailored to specific skin and hair types. Moreover, the rise in
e-commerce and digital marketing has facilitated easier and wider access to
these products, expanding their consumer base. Changes in lifestyle, increased
disposable income, and climatic changes have also contributed to the surge in
demand for effective skincare and haircare products. Consequently, the
humectants market is projected to experience significant growth, driven by the
escalating demand for these products globally. With continued innovation and market
expansion, humectants' demand is unlikely to dwindle, underlining their crucial
role in skincare and haircare products.
Expanding Application in The
Food & Beverage Sector
Humectants,
substances that attract and retain moisture, are experiencing unprecedented
demand globally in the Food & Beverage sector. This is largely due to their
unique hygroscopic properties, which not only maintain the freshness of food
products but also enhance their texture and palatability. Humectants such as
glycerol, sorbitol, and honey are being extensively used to prevent the drying
out of food items, thereby prolonging their shelf life. These ingredients are
particularly useful in baked goods, confectioneries, and ready-to-eat meals,
where they help preserve moisture and softness over time.
Moreover,
humectants play a crucial role in low-fat food products. They provide volume
and a pleasing mouthfeel, compensating for the reduction in fat content. This
aligns with the growing consumer preference for healthier, low-calorie options,
thus driving the demand for humectants across the globe. Additionally, the use
of humectants in beverages is on the rise, given their ability to enhance the
drink's flavor and provide a refreshing aftertaste. In part, the growth can also be attributed to
the surge in food innovations and the introduction of new products, where
humectants are key components. The increase in their application not only
results in improved product quality but also in cost savings for manufacturers
due to reduced wastage. These factors combined are expected to continue fueling
the expansion of humectants use in the Food & Beverage sector, leading to a
sustained growth trajectory in the global market.
Increased Consumer Preference
for Natural & Organic Products
A
rising trend amongst consumers worldwide is the increasing preference for
natural and organic products, a shift that is expected to drive the global
demand for humectants significantly. Humectants, substances that help retain
moisture, are extensively used in various industries, including cosmetics,
food, and pharmaceuticals. Customers are developing a growing awareness of the
ingredients used in products and are favoring those with natural and organic
components, including humectants. This preference stems from the perceived
health benefits, eco-friendliness, and higher quality associated with natural
and organic products. As a result, manufacturers are compelled to accommodate
these consumer preferences, leading to an increased usage of natural humectants
over synthetic ones. Furthermore, the benefits of humectants, such as improving
skin health by retaining moisture and enhancing the shelf-life of food
products, are well recognized. These advantages, coupled with the consumer
shift towards natural and organic products, indicate a promising surge in the
global demand for humectants. This trend underlines the potential for growth in
industries that manufacture and supply natural humectants, presenting
opportunities for innovation and market expansion in a consumer-driven
marketplace.
Growing Usage of Humectants in
The Manufacture of Animal Feed
The
global demand for humectants is anticipated to rise significantly, driven
primarily by their increasing usage in the manufacture of animal feed.
Humectants, substances that promote moisture retention, play a critical role in
maintaining the freshness and nutritional value of animal feed. They prevent
the feed from drying out, enhancing its palatability and ensuring animals
receive the necessary nutrients for growth and health. As the global livestock
industry continues to expand, the demand for high-quality animal feed is
escalating. This, in turn, is pushing the need for humectants to ensure the
optimal quality of the feed. Moreover, the burgeoning trend of organic
livestock farming further necessitates the use of natural humectants, such as
glycerol and propylene glycol, thus broadening the market scope. Additionally,
advancements in animal nutrition science are leading to the development of more
effective humectants. These factors collectively contribute to the projection
of an upward trajectory in the global demand for humectants.
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Key Market Challenges
Availability Of Less Expensive
Synthetic Substitutes
The
global humectants market is forecasted to face significant challenges due to
the increasing availability of less expensive synthetic substitutes. These
substitutes, made from a range of chemical constituents, are becoming popular
in various industries, including cosmetics, food and beverages, and
pharmaceuticals, that are major consumers of humectants. These synthetics offer
similar benefits in terms of moisture retention and shelf-life extension but at
a drastically reduced cost. The cost-effectiveness of these alternatives is
compelling for businesses looking to optimize production costs, especially in
these economically uncertain times. Consequently, the demand for traditional
humectants is expected to decrease as businesses switch to these cheaper alternatives.
Furthermore, the flexible production methods and ease of customization make
synthetic humectants an attractive option. However, the potential environmental
and health-related implications of these synthetics could pose a challenge to
their widespread adoption. Therefore, while the immediate impact of synthetic
alternatives might lead to a decrease in demand for natural humectants, the
long-term effects of these changes remain to be seen.
Strict Restrictions About the
Usage of Humectants
The
stringent regulations concerning the use of humectants are anticipated to
negatively impact their global demand. Humectants, substances often used in
food and cosmetic products to preserve moisture, have come under scrutiny due
to potential health risks associated with their overuse. Regulatory bodies
worldwide are imposing strict restrictions on their usage, resulting in a
downturn in market trends. For instance, some humectants have been linked to
health conditions such as dehydration and digestive issues, prompting health
organizations to recommend limited use. Furthermore, consumers are becoming
more aware of the potential risks, driving demand for products free from such
additives. This growing trend of awareness and health-consciousness, combined
with the strict regulations, are expected to curb the global demand for
humectants. Manufacturers are now seeking alternatives with safer profiles to
maintain consumer trust and regulatory compliance. While this shift poses a
challenge for humectant producers, it opens a window of opportunity for the
development of innovative, health-friendly alternatives.
Key Market Trends
Emergence of Bio-Based
Humectants
The
global demand for humectants is set to rise significantly due to the emergence
of bio-based alternatives. As humectants play a critical role in various
industries, including cosmetics, food, and pharmaceuticals by maintaining
moisture levels, the shift towards bio-based humectants offers a more
sustainable alternative. These environmentally friendly versions are derived
from natural resources such as plants and biodegradable materials. The growing
consumer preference for green products and stringent environmental regulations
are driving this change. Additionally, bio-based humectants often provide
better skin compatibility and natural moisturizing benefits in cosmetic
applications, making them more appealing to an informed consumer base. They
also have potential health benefits in food and pharmaceutical applications.
Thus, with their environmental, health, and efficiency advantages, bio-based
humectants are poised to significantly increase global humectant demand.
However, the challenge lies in the high production costs and limited
availability of raw materials. Still, with ongoing research and advances in
bio-technology, these challenges are expected to be mitigated, paving the way
for a surge in demand.
Increased Usage in
Pharmaceutical Industry
The
global demand for humectants is predicted to rise significantly, primarily
driven by their increased usage in the pharmaceutical industry. Humectants,
substances that promote moisture retention, play a critical role in the
manufacturing of medications. They ensure the stability and effectiveness of
drugs by preventing them from drying out, thereby extending their shelf-life.
As the pharmaceutical industry expands in response to growing global health
demands - a trend accelerated by the ongoing COVID-19 pandemic - the demand for
humectants is expected to surge concurrently. Furthermore, humectants'
essential role in liquid medications, creams, and gel-based pharmaceuticals
underlines their importance in the creation of modern medications.
Additionally, the push for innovation in drug formulation and delivery methods
presents new opportunities for the application of humectants. The
pharmaceutical sector's reliance on these substances illustrates a clear
correlation between the industry's growth and the increased global demand for
humectants. This upward trajectory is likely to continue as long as the
pharmaceutical industry continues to expand and evolve.
Segmental Insights
Source Insights
Based on the Source, the
natural humectants segment dominated the global humectants market in 2022.
Glycerine, honey, and aloe vera are examples of natural humectants obtained
from environmentally friendly sources that promote human health. The increasing
popularity of natural and organic products in the food and cosmetics sectors is
driving the demand for natural humectants. Glycerine is commonly used as a
natural sweetener and humectant in baked goods, confections, and beverages,
ensuring their moisture retention. The market for natural humectants is
expanding due to the rising demand for natural and organic cosmetics and
personal care products.
During the forecast period,
the synthetic humectants segment is expected to have the largest revenue CAGR.
Synthetic humectants such as propylene glycol, butylene glycol, and Sorbitol
are widely used in the cosmetics and pharmaceutical sectors due to their
superior moisture retention properties and extended shelf life. Synthetic
humectants are also in high demand due to their cost-effectiveness and ease of
manufacturing. For instance, propylene glycol is a common synthetic humectant
found in various cosmetics and personal care products, including moisturizers,
shampoos, and conditioners. Additionally, it is utilized as a humectant and
solvent in oral and topical pharmaceutical treatments.
Application Insights
Based on the Application,
the food and beverage category continue to dominate the global humectants
market in 2022. With a focus on preserving moisture content, enhancing texture,
and extending shelf life, humectants play a vital role in the food industry.
For example, glycerine is commonly used as a humectant in beverages,
confections, and baked goods, while sorbitol finds its application in candies,
ice cream, and chewing gum. As the demand for processed and packaged food
products rises, the market for humectants in the food and beverage segment is
expected to grow exponentially.
In addition to the food
industry, humectants also find significant use in the personal care and
cosmetics industry. They are employed in skincare and haircare products to
improve moisture retention and prevent dryness. Glycerine, for instance, is
frequently utilized in creams, lotions, and moisturizers, while butylene and
propylene glycol are commonly employed as humectants in shampoos and
conditioners for hair. As the cosmetics industry witnesses an increasing demand
for anti-aging and moisturizing products, the personal care and cosmetics
section of the humectants market is anticipated to experience substantial
growth.
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Regional Insights
Over the forecast period, the humectants market
is expected to generate the highest revenue share from the Asia Pacific market.
This growth is driven by the increasing need for humectants in the personal
care and cosmetics sector, as well as the food and beverage sector in the
region. The expanding 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 large competitors in the area, offering a wide
range of goods and services, has sparked innovation and competition, further
fueling the expansion of the market.
In addition, the North American market is
expected to experience a significant revenue compound annual growth rate (CAGR)
during the projected period due to the rising demand for humectants in the
personal care and cosmetics industries. This demand has been fueled by the
increasing awareness of the benefits of natural and organic products. Moreover,
the market has witnessed growth due to the presence of major competitors in the
region, such as Ashland Global Holdings Inc. and DuPont de Nemours Inc., both
offering a variety of high-quality humectants.
Recent Developments
- In 2021, Archer Daniels Midland Company unveiled its strategic
initiative to acquire Sojaprotein, a prominent European-based company
specializing in the production of non-GMO soy ingredients. This strategic move
aims to augment ADM's plant-based protein portfolio and reinforce its market
position on a global scale.
- In 2020, DowDuPont Inc. made a significant announcement regarding
the acquisition of Icynene-Lapolla, a renowned manufacturer of spray foam
insulation products. This strategic acquisition is intended to enhance
DowDuPont's presence in the building and construction industry and strengthen
its market standing worldwide.
- In
2019, Cargill, Incorporated announced a substantial investment of $75 million
in its pea protein business, with a primary focus on expanding production
capacity and research and development capabilities. This strategic investment
aims to meet the escalating demand for plant-based protein and fortify
Cargill's market position on a global scale.
Key Market Players
- 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.
|
By
Type
|
By
Source
|
By
Application
|
By
Region
|
- Sugar
Alcohol
- Alpha
Hydroxy Acid & Polysaccharides
- Glycols
- Others
|
|
- Food
& Beverages
- Oral
& Personal Care
- Pharmaceuticals
- Animal
Feed
- Others
|
- North
America
- Europe
- Asia
Pacific
- South
America
- Middle
East & Africa
|
Report Scope:In this report, the
Global Humectants Market has been segmented into the following
categories, in addition to the industry trends which have also been detailed
below:
·
Humectants Market, By Type:
o
Sugar Alcohol
o
Alpha Hydroxy Acid &
Polysaccharides
o
Glycols
o
Others
·
Humectants Market, By Source:
o
Synthetic
o
Natural
·
Humectants Market, By Application:
o
Food & Beverages
o
Oral & Personal Care
o
Pharmaceuticals
o
Animal Feed
o
Others
·
Humectants Market, By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Kuwait
§ Turkey
§ Egypt
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in the Global Humectants Market.
Available Customizations:
Global
Humectants market report with
the given market data, TechSci Research offers customizations according to a
company's specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
Global Humectants Market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]