Emollient Market to Surpass US$ 1 Billion by 2027, as Surging Demand From Cosmetics and Personal Care Industry Drives Growth
ROCKVILLE, Maryland, September 12, 2018 /PRNewswire/ --
Fact.MR's latest report on the emollient market offers comprehensive analysis on the captivating trends and developments influencing the global landscape. According to the report, the ongoing 'natural product' trend will be the prominent influencer in the emollient market and is expected to create lucrative avenues during the forecast period 2018-2027. The Fact.MR study is optimistic on the future prospects of emollient market, and projects global revenues to grow at over 5% CAGR to surpass US$ 1 billion by 2027.Growing penetration of personal care products and increasing reliance on cosmetics continue to be the prime drivers of the emollient market. Fact.MR's analysis encompasses all the vital aspects, ranging from changing consumer preferences to evolving manufacturing strategies to assess widespread application of emollient across industry verticals.
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Fact.MR study offers detailed analysis on the supply-demand equations in the emollient market. According to the study, cosmetics industry to be the largest application segment, followed by toiletries and skin care. The report finds that cosmetics industry will continue to remain preeminent for emollient manufacturers, however, significant opportunities will also emerge in the toiletries and skin care segment. The report estimates these two segments to hold nearly 50% revenue share throughout the forecast period.
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Manufacturers and stakeholders in the emollient market have been observed to closely follow consumer preferences during the product design of emollient formulations. Following the divergent preference for different forms of emollients available in the market as well as those at the top of medical prescriptions, the report shows that the semi-solid emollient form reported almost 35% of the total market share in 2017 and is expected to surpass US$ 390 million by 2027 end. The liquid emollient segment is expected to follow suit with a CAGR of nearly 3.5% in terms of value.
The thorough analysis of a plethora of emollient chemical compositions, their commercial availability and demand carried out during the study shows that the ether-based emollients dominated the emollient market in 2017, however, the fatty acid-based emollient segment is expected to outsell ether and account for the largest segment during the forecast period. Beneficial and widely accepted properties of lipids or fatty acids and their versatility in chemical formulations are likely to support fatty acid segment in outshining the neck and neck competition with ether during the forecast.
Europe is anticipated to remain the most attractive market with over 4.5% CAGR during the assessment period. Flourishing personal care industry where manufacturers are actively engaged in introducing green chemistry, the region is leading the emollient market with production of natural emollients, novel manufacturing processes and packaging innovations. Demand for emollient in APEJ and Europe is likely to remain resurgent, with the former likely to account for marginally higher volume share of the market by 2027.
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Rising consumer preference for clean labels and natural ingredients has led manufacturers to explore new avenues of natural emollient product offerings. Driven by consumer preferences for accessibility, cost and online shopping, emollient formulation sales through e-commerce platform is gaining a considerable traction in the emollient market. However, higher costs and limited availability of premium products is expected to confine the adoption levels of emollient formulations in the coming years. In addition, despite extensive application in the cosmetics and personal care industries, intensive costs of prime products and their limited adoption is, in turn, impeding emollient demand in these sectors.
The Fact.MR study also offers in-depth analysis on the business and product strategies of the prominent players in the market. According to the study, sensing the evolving trends in the market, stakeholders are focusing on capacity expansion and incorporation of innovative technologies. For instance, BASF SA recently announced a plan to increase production of hexanediol at its Ludwigshafen plant. Croda International is ramping up its research and development wing through collaboration with universities and colleges. According to the report, Croda announced the opening of Centre of Innovation for Formulation Science at the University of Liverpool's new Materials Innovation Factory (MIF). The report also finds that a number of players are adopting a sustainable strategy to comply with evolving regulations and boost their brand image among end-users.
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