26 C
New York
Monday, June 24, 2024
HomeResearchHumectants Chemical Market to Reach USD 48.70 Billion by 2031 Driven by...

Humectants Chemical Market to Reach USD 48.70 Billion by 2031 Driven by Increasing Acceptance of Geocomposites Products in Numerous Application

Date:

Related stories

spot_imgspot_img


The SNS Insider report estimates the Humectants Chemical Market size at USD 28.14 billion in 2023, with a projected CAGR of 7.10% to reach USD 48.70 billion by 2031.

The global humectants market is being propelled by several factors, including increasing consumer awareness of their benefits, expanding applications, and technological advancements. A significant driver is the rising demand for natural and organic products, as consumers prioritize items derived from natural sources and free from harmful chemicals. This trend has fueled the demand for natural humectants like glycerin and sorbitol, derived from plant-based sources. Manufacturers are innovating to meet this demand sustainably and capitalize on market opportunities. Additionally, the steady growth of the food industry, driven by increased consumption of convenience foods and the need for enhanced food preservation, is expected to contribute to the growing demand for humectants.

Get a Report Sample of Humectants Chemical Market @ https://www.snsinsider.com/sample-request/3536 

Some of the Key Players Included are:

The major key player is Archer Daniel Midland Company, Ashland Global Holdings Inc., BASF SE, Barentz, Brenntag AG, Cargill Incorporated E.I., Du Pont De Nemours & Company., Ingredion, Roquette Freres, DOW Chemical Company and final reports list additional participants.

Segment Analysis

Based on type, the market is categorized into glycerol, sugar alcohol, alpha hydroxyl acids and polysaccharides, glycols and others.

In 2023, sugar alcohols dominated the Humectants Market. Economic and social development, evolving lifestyles, and increasing purchasing power in developing regions have spurred demand for ready-to-eat foods, bakery items, and confectionery. Concerns over sugar intake, driven by health issues like diabetes and obesity, have fueled demand for sugar-free products. To extend the shelf life of perishable goods, manufacturers and distributors are diversifying their product offerings and expanding operations. There’s a rising demand for natural humectants due to growing awareness of natural and healthy personal care products, which is expected to drive overall market growth and development in the forecast period.

By Source

  • Synthetic
  • Natural
  • Plant Based
  • Animal Based

By Type

  • Glycerol
  • Sugar alcohol
  • Alpha hydroxyl Acids and Polysaccharides
  • Glycols
  • Other

By Application

  • Food and beverages
  • Bakery and Confectionary Product
  • Beverages
  • Functional and Nutritional Food
  • Other

Oral and Personal care

  • Pharmaceutical
  • Animal Feed
  • Other

Competitive Insights

The global humectants market is characterized by robust competition among numerous industry players. Humectants find extensive use across various sectors such as cosmetics, food and beverages, pharmaceuticals, and personal care, owing to their moisture-attracting and retaining properties. The market exhibits fragmentation, with participation from both major multinational corporations and smaller regional entities driving its expansion. Many market players prioritize research and development endeavors to create innovative and effective products that cater to evolving end-user requirements. This focus on R&D enables companies to sustain competitiveness and uphold a formidable market position.

  • For instance, in November 2022, the Estée Lauder Companies purchased Tom Ford, a high-end beauty brand, for $2.8 billion.

Make Enquiry About Humectants Chemical Market Report@ https://www.snsinsider.com/enquiry/3536 

Recent Developments

March 2023: Innospec announced an expansion in humectant production capacity in China, aimed at meeting the rising demand from personal care and cosmetics industries.

February 2023: BASF unveiled a novel humectant formulation known for its superior moisture retention properties, anticipated for use in skincare and food applications.

January 2023: Lubrizol acquired AkzoNobel‘s humectants business, facilitating portfolio expansion to cater to increasing demand from pharmaceutical and personal care sectors.

December 2022: Galaxy Surfactants introduced a new range of humectants tailored for the personal care market, designed to offer prolonged moisture retention and enhance the texture of skincare products.

November 2022: Evonik introduced a sustainable humectant derived from renewable sources, boasting biodegradability and eco-friendliness.

Impact of Russia and Ukraine-War on Humectants Chemical Market

The Russia-Ukraine Conflict has prompted many companies to halt production and business operations in Russia. This disruption has potential implications for humectant chemical manufacturing, including supply chain disruptions and shortages of raw materials. Geopolitical tensions can influence consumer behavior and economic stability, leading to fluctuating market demand. Demand decreased from 23% in 2022 to less than 10% in January 2023. Manufacturers may need to reassess procurement practices, potentially altering supplier relationships. Trade disruptions may hinder the global distribution of humectant products due to export and import restrictions. Rising raw material and energy prices, with energy prices experiencing a more than 50% increase, add pressure to the industry. The ongoing uncertainty surrounding the situation in Ukraine has global economic ramifications affecting chemical industries worldwide.

Regional Analysis

In 2023, North America dominated with the largest revenue share, of more than 36% in the global humectants market. Factors contributing to this include the recognized health benefits of these products and the flourishing cosmetic and pharmaceutical industries in the region. Additionally, the rising demand for ready-to-eat foods in North America serves as a significant driver for humectants in the food and beverage sector. Cosmetics and personal care items containing humectants aid in moisture retention, promoting skin hydration and preventing dryness. Furthermore, the FDA has approved several health claims regarding humectants, notably their effectiveness in treating eczema and psoriasis.

Key Takeaways:

  • The global humectants chemical market is set for substantial growth driven by increased food and beverage production, advancements in cosmetics and technology, and changing lifestyles. As a result, the global demand for humectants remains high.
  • Strategic alliances, investments, cooperative ventures, product introductions, and advancements among companies play a pivotal role in securing essential components, expertise, and market positioning
  • The increasing popularity of men’s grooming and skincare products presents a lucrative market opportunity for humectants.
  • The Asia Pacific region is anticipated to be known as the fastest growing region, driven by its robust food and beverage industry, a key consumer of humectants.

Table of Contents – Major Key Points

  1. Introduction
  2. Research Methodology
  3. Market Dynamics
  4. Impact Analysis
    • COVID-19 Impact Analysis
    • Impact of Ukraine- Russia war
    • Impact of ongoing Recession
  5. Value Chain Analysis
  6. Porter’s 5 Forces Model
  7. PEST Analysis
  8. Humectants chemical market Segmentation, By Source
  9. Humectants chemical market Segmentation, By Type
  10. Humectants chemical market Segmentation, By Application
  11. Regional Analysis
  12. Company Profiles
  13. Competitive Landscape
  14. Use Case and Best Practices
  15. Conclusion

Buy the Latest Version of Humectants Chemical Market Report 2024-2031 @ https://www.snsinsider.com/checkout/3536 

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

Contact Us:

Akash Anand – Head of Business Development & Strategy

info@snsinsider.com

Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

spot_img