Humectants Global Market Report 2024

The humectants market 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 expansion observed during the historical period can be attributed to the growth in the food and beverage industry, increased applications in pharmaceuticals, the prevalence of dry and sensitive skin conditions, the functional properties exhibited in food products, and the demand in agriculture.

The humectants market 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 anticipated growth in the forecast period can be attributed to the burgeoning clean beauty movement, the increasing prominence of e-commerce platforms, the growth of functional foods and nutraceuticals, ongoing research and development in healthcare applications, and concerns regarding global water scarcity. Key trends expected in the forecast period encompass innovations in packaging, customization in personal care products, advancements in biotechnology, cross-industry collaboration, and innovations in formulations.

The humectants market is poised for growth, driven by an increasing demand for cosmetics. Cosmetics, products designed to enhance or alter appearance, often incorporate humectants as moisturizing ingredients in lotions, shampoos, and other formulations. Humectants attract moisture from the atmosphere into the skin's outer layer, making them crucial in cosmetics. For example, in February 2022, L'Oréal S.A., a France-based personal care and cosmetic company, reported a substantial 31.8% increase in the annual sales of its active cosmetic segment, reaching €3,924.0 million ($4,318 million) in 2021 compared to €3,011.1 million ($3,313.44 million) in 2020. This surge in demand for cosmetics is a key factor driving the growth of the humectants market.

The humectants market is also set to experience growth due to the rising demand from the food and beverage industry. This industry, encompassing the production, distribution, and sale of edible goods and drinks, utilizes humectants to preserve moisture, extend shelf life, and maintain product freshness. In 2023, the Food and Drink Federation reported a significant 31% increase in food and drink exports in 2022 compared to the previous year. The industry's turnover reached $10.84 billion (£10.3 billion) in 2022, contributing to 33% of the total manufacturing output in Scotland. The increasing demand from the food and beverage industry is a driving force behind the growth of the humectants market.

Innovations play a crucial role as a key trend in the humectants market, with companies focusing on innovative products to sustain their market positions. For instance, Nexus Ingredient, a UK-based company, introduced MoistPlus® Syrup in 2022, an all-natural humectant syrup made from cassava root. This syrup, free from gluten, dairy, allergens, fructose, and grains, offers exceptional humectant results, water absorption control, humidity control, appearance performance, shelf-life extension, product cleanliness, integrity, improved yields, and organic colorant.

Major companies in the humectants market are prioritizing advanced solutions, such as multifunctional ingredients, to expand their market presence and meet diverse consumer demands. Multifunctional ingredients serve multiple purposes within a product or formulation. For example, in April 2021, Symrise AG, a Germany-based chemicals company, launched Hydrolex E, a pure version of ethylhexylglycerin serving as both a humectant and emollient. Nearly odorless, it provides robust product preservation and is compatible with various formulations, including emulsions, wipes, gels, shampoos, and shower gels.

In March 2022, Vantage Specialty Chemicals, a US-based specialty chemicals company, acquired JEEN International Corporation and BotanicalsPlus Inc. The combined resources are expected to strengthen Vantage's position as a solutions-oriented leader in personal care ingredients. JEEN International Corporation and BotanicalsPlus Inc., US-based manufacturers and suppliers of personal care, cosmetics, and pharmaceuticals, contribute to Vantage's strategic growth in the industry.

Major companies operating in the humectants market report are 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.

North America was the largest region in the humectants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global humectants market during the forecast period. The regions covered in the humectants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the humectants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of humectant products include sugar alcohol, alpha hydroxy acid, glycols, and others. Sugar alcohol is a type of carbohydrate commonly found in certain fruits and vegetables but can also be produced commercially through the hydrogenation of sugar. These humectants are derived from various sources, both synthetic and natural, and find applications in food and beverages, oral and personal care products, pharmaceuticals, animal feed, paint and coating, pesticides, and other industries.

The humectants market research report provides humectants market statistics, including humectants industry global market size, regional shares, competitors with a humectants market share, detailed humectants market segments, market trends and opportunities, and any further data you may need to thrive in the humectants industry. This humectants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The humectants market consists of sales of hyaluronic acid, glycerol, and aloe vera. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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