The global humectants market size is expected to reach USD 14.72 Billion and is projected to grow at a CAGR of 5% over the forecast period. Since the demand for natural humectants has increased over the past few years, food manufacturers are able to produce a wider range of food products with fewer natural humectants.
By 2033, the packaging food market and cosmetics market will generate USD 24 billion in sales of the humectants market. Recently, humectants have gained popularity in the food and beverage industry because they prolong the shelf life of products, help to retain moisture, and enhance the effectiveness of products by increasing their function. Due to the increase in food and beverage production, cosmetics and technological advancements, and a change in lifestyle, the global humectants market remains in high demand.
It is anticipated that the market for humectants will continue to grow in coming years as the demand for food & beverage, personal care, and cosmetic products is expected to increase in developed countries such as Europe and North America. As food humectants are helpful to keep the moisture of products, they are a major focus of interest in ready-to-eat meals and snacks. As disposable incomes rise along with a change in lifestyle, Asia Pacific is predicted to be the fastest growing market for cosmetics, which will ultimately drive growth in the humectants industry.
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Key Takeaways from the Market Study
According to market forecasts, the global humectants market is set to reach US$ 24 Billion by 2032.
According to projections, China will grow at a CAGR of 5.8% between 2023 and 2033.
Skincare products are expected to account for more than 40% of the global market.
U.K., Germany, and the U.S. are expected to grow at a combined rate of 42.6% over the forecast period.
According to market projections, the North American humectants market is expected to grow by 33% by 2033 during the forecast period.
“Surging demand for conventional food and beverage products, as well as an increase in the use of natural ingredients in cosmetics and personal care products, will boost the market in the coming years,” comments an analyst at FMI.
Competitive Landscape
Archer Daniel Midland Company, Ashland Global Holdings Inc., BASF SE, Barentz, Brenntag AG, Cargill Incorporated, Ingredion, Roquette Freres, The DOW Chemical Company.
Strategic partnerships allow manufacturers to increase production and meet consumer demand, which boosts revenue and market share. Utilizing new technologies and products to manufacture that are beneficial to the end user. Strategic partnerships can help companies expand their production capabilities.
A new humectant will be produced at a Vantage Specialty Chemicals plant in Leuna, Germany. Liponic EG-1 (INCI: Glycereth-26) is a humectant manufactured by Vantage Specialty Chemicals. As the demand for palm-free, naturally derived humectants grows, Vantage will be able to supply the growing demand. By enhancing local availability and enhancing service levels, Vantage will be able to provide better service to European customers with the new production line at the Leuna facility.
As a result of the extension, Liponic EG-1 will also be able to secure a secure supply chain worldwide. As a result of enhanced traceability, Liponic EG-1 VLG will be marketed at Leuna. Also, this investment is intended to contribute to the reduction of the company's carbon footprint globally. Liponic EG-1 will reduce its environmental impact due to its close proximity to European customers.
In Malaysia, CETAPHIL® is the #1 dermatological skincare brand, and the company is excited to announce the new Cetaphil Soothing Foam Wash, designed for dry to normal sensitive skin and designed to provide optimal comfort.
Key Segments Covered in the Humectants Market Survey
By Product:
Sugar Alcohol
Alpha Hydroxy Acid
Glycols
Others
By Application:
Food & Beverage
Oral & Personal Care
Pharmaceuticals
Others
By Region:
North America
Latin America
Europe
Asia Pacific
Middle East & Africa