According to the latest report published by Variant Market Research,the Global Humectants Market size is projected to reach $33.5 billion by 2025 from $19.3 billion in 2017. In this report, humectants market forecast says that the global market is growing at a CAGR of 5.5% from 2017 to 2025. By geography, Asia-Pacific and RoW are expected to grow at a CAGR of 7.8% and 7.2%, respectively, during the forecast period.Humectants are used in various applications such as food & beverages, animal feed, oral & personal care, pharmaceuticals, and other applications (plastics, tobacco, and tanneries). Due to the moisture retention property of humectants, it is widely used in lip balms, eye creams, hair conditioners, face or body cleansers, and body lotions.
"Humectants Market (By Source: Synthetic and Natural; By Type: Glycerol, Sugar Alcohol, Alpha Hydroxy Acid & Polysaccharides, Glycols, and Other Types; By Application: Food & Beverages, Animal Feed, Oral & Personal Care, Pharmaceuticals, and Other Applications;By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025"
Growing use in numerous end-use industries fuels the global humectantsmarket
The global humectants market trend includes increasing global population, growing use in numerous end-use industries, and technological changes in the food & cosmetics industry. Though, adverse effect of humectant on consumer health might act as a roadblock for the global humectants market growth. Moreover, mounting demand about natural ingredients owed to the increase in consumer responsiveness is likely to offer worthwhile opportunities for the market in the coming years.
The global humectants market has been bifurcated into source, type, application, and geography. Source is segmented into synthetic and natural (plant-based, and animal-based). Glycerol, sugar alcohol, alpha hydroxy acid & polysaccharides, glycols, and other types (sodium lactate, sodium metaphosphate, polydextrose, triacetin, panthenol, and sodium PCA) are the subsegments of type. Moreover, application includes food & beverages, animal feed, oral & personal care, pharmaceuticals, and other applications (plastics, tobacco, and tanneries).
By geography, global humectants market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further split in U.S. Mexico, and Canada whereas Europe segment consists of Germany, UK, Russia, France, Spain, Italy, and Rest of Europe. Asia-Pacific is segmented into China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Synthetic source humectants accounted for the maximum market share in 2017
On the basis of source, synthetic humectants dominated the global market in 2017 with maximum market share. Synthetic source humectants are extensively used in skin care products as a moisturizer, which helps to retain moisture & so soften the skin. These synthetic source humectants find usage in major end-use applications including food & beverages, cosmetics, as well as oral & personal care products.
In application segment, food & beverages lead the global market with maximum market share in 2017
In application, food and beverages segment accounted for the major market share in 2017 and would continue to maintain the trend over the forecast period. The growth of the segment is attributed to the fact that the demand has increased from food & beverages application due to the increase in the use of humectant for extending the shelf life of a product, increasing a product's effectiveness, and retaining moisture.
North America dominated the global market with highest market share over the forecast period
North America dominated the global market with largest market share of 32.28% in 2017 and expected to continue the trend during the forecasted period. The growth is attributed to the FDA approval for use of humectants in food products in the region.
Key players are offering innovative products and services to increase their humectants market share. Main players competing in the market include Brenntag AG, Archer Daniels Midland Company, Ashland Global Holdings Inc., BASF SE, Barentz, Cargill Incorporated, E. I. Du Pont De Nemours and Company, Ingredion Incorporated, The DOW Chemical Company, and Roquette Freres, among others.