Humectants Market Analysis by Type, Application, Region – 2022
Added: (Tue Jul 23 2019)
Pressbox (Press Release) -
The Humectants Market is projected to reach USD 26.27 Billion by 2022, at a CAGR of 7.0% from 2017, in terms of value. In terms of volume, the market is projected to reach 14,741.6 KT by 2022, at a CAGR of 3.9% from 2017.
The global humectants market is poised to grow at a significant rate in terms of value, which is evident from the on-going innovations & developments of end-use products in the industry. Growing consumer preference for healthy food, rising concerns about animal health & nutrition, and a rise in demand for superior oral & personal care products are the factors majorly driving the humectants market, worldwide.
“Humectants obtained from the synthetic source dominated the humectants market”
In 2016, the synthetic segment accounted for the largest share, by source, in the humectants market in terms of value and volume. Humectants obtained from the synthetic source are widely used in skin care products as a moisturizer. It also helps to retain moisture and soften the skin. The large share of the synthetic humectants segment is attributed to their extensive usage in major end-use applications such as food & beverages, cosmetics, and oral & personal care products.
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“Food & beverages: The dominant application segment in the humectants market”
In 2016, the food & beverage segment accounted for the largest share in the humectants market in terms of value, and is projected to grow at the highest CAGR from 2017 to 2022. The increasing application of humectants such as sorbitol and glycerol in the food & beverage industry is driving the overall growth in this segment. Factors such as extended product shelf life, increased product efficacy, and retained moisture are also propelling the demand for humectants in the food & beverages segment.
On the basis of sub-application, the bakery & confectionery products segment is estimated to dominate the food & beverage humectants market in 2017, in terms of value. Humectants are used for imparting sweetness and extending the product’s shelf life. They are also used as efficient plasticizers; many polyols such as sorbitol also provide softer texture to confectionery products. They are used in various food applications such as jams & preserves, chocolates, and processed food. Due to growth in health concerns related to the consumption of high-calorie foods, the demand for humectants such as sugar alcohol, instead of foods containing sucrose, are driving this segment.
“The Asia-Pacific region is projected to be the fastest-growing regional market for humectants”
The Asia-Pacific region is projected to be the fastest-growing market for humectants, owing to its growing economy with a large population base ready to spend on functional & nutritional food and the rapidly growing consumer markets of China, India, and Japan.
The eco-friendly production process of bio-based propylene glycol has led to the growth in the usage of propylene glycol. The growing automotive industry in the Asia-Pacific region is also driving the market as propylene glycol is widely used in engine coolants and sheet molding compounds. Glycerine is one of the major humectants used in this region; this growth is due to the rapidly increasing consumption in countries such as China and India for personal care products.
This report studies marketing and development strategies, along with the product portfolios of leading companies such as Cargill (U.S.), The Dow Chemical Company (U.S.), Archer Daniels Midland Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), and Roquette Frères (France). Other significant players include Ingredion Incorporated (U.S.), BASF SE (Germany), Brenntag AG (Germany), Barentz (Netherlands), Ashland Global Holdings Inc. (U.S.), Batory Foods (U.S.), and Corbion (Netherlands).
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