Global Humectants Market is expected to register an impressive growth rate of 7% during the forecast period to reach USD 26 billion by the end of 2024.
The demand for humectants has increased as a result of the growing use of humectants to extend the shelf life of a product, retain moisture, and boost the effectiveness of a product. The global Humectants Market is driven by increased demand from humectant in food and beverage applications, as well as increased desire for and technical advancements in cosmetics and changes in lifestyle. Several humectants are petroleum derivatives; consequently, volatility in crude oil prices could impede worldwide market growth. Additionally, higher AHA use contributes to epidermal thickening and collagen formation, assisting in the healing of photodamaged skin while preventing it from future UV harm. The market's expansion can be ascribed to the expansion of application sectors, the increasing need for healthy food and drinks, the surge in demand for biodiesel, and fluctuating sugar costs. Natural humectants are widely used in the food and beverage sector because they aid in extending the shelf life of products, adding sweetness, and balancing the moisture level of products.
However, rigorous regulations governing the manufacturing and consumption of emollients and humectants are impeding market growth, particularly in developed markets in Europe and North America. Manufacturers of humectants must adhere to worldwide quality standards established by regulatory bodies, which is impeding the global Humectants Market's growth. The global Humectants Market Revenue has been significantly impacted by the novel SARS-CoV-2 illness outbreak that spread throughout 2020, owing to temporary production shutdowns in manufacturing facilities, disruptions in the raw material supply chain, and movement restrictions. The market's growth was harmed by decreased product sales in the skin care and personal care industries as a result of WFH trends.
Mergers and acquisitions, expansions, and new product releases are all marketing methods that key companies in the Humectants Market can use to increase their market presence and build a larger client base. The notable players of the market are Cargill, Incorporated (US), BASF SE (Germany), Archer Daniels Midland Company (US), DowDuPont (US), Roquette Frères (France), Ingredion Incorporated (US), Ashland Global Holdings Inc. (US), Barentz (Netherlands), Batory Foods (US), Lianyungang Dongtai Food Ingredients Co., Ltd (China), Sweeteners Plus Inc. (US), Galactic S.A. (Belgium), Fooding Group Limited (China), Nutra Food Ingredients LLC (US), and Brenntag AG (Germany).
The market for humectants has been categorized by type, source, application, and geography.
The global market for glycols, glycerol, sugar alcohols, polysaccharides, and alpha hydroxy acids (AHAs), among others, has been classified by type.
The global market has been segmented into natural and synthetic segments based on its source.
The global market has been segmented by application into food & drinks, personal care, pharmaceuticals, and others.
Europe is expected to dominate the worldwide Humectants Market throughout the forecast period, owing to rising demand for bakery and confectionery products. Additionally, the animal feed industry's high consumption of humectants is driving market expansion in Europe. The European Humectants Market is expected to increase significantly over the next few years, owing to the expanding cosmetics industry and growing demand for food manufacturing. Additionally, growing population and urbanization in various European economies will increase the regional Humectants Market share.
However, the Asia-Pacific market is predicted to grow at the fastest rate during the forecast period, owing to the rising industries in emerging nations such as China and India that rely heavily on humectants and humectant products. Changing lifestyles in emerging nations such as China and India are projected to drive the Humectants Market Revenue expansion. Additionally, the cosmetics industry's increasing need for humectants is expected to contribute significantly to the Humectants Market growth.
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