The global lanolin market to grow at a CAGR of 5.45% during the period 2017-2021.
Global Lanolin Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is increasing number of male grooming products. Recently, it has been noted that an increasing number of men have started to use self-grooming products for self-grooming purposes such as anti-aging, anti-wrinkle, waxing and other products and solutions. Men, in general, are becoming increasingly conscious of their looks and appearance.
According to the report, one driver in the market is increasing demand for cosmetics and personal care products in China. Among the most widely used ingredients in personal care, emollients find use in facial creams; cleansers; wipes; moisturizers; and other skin products. Naturally derived products have a stronger demand, as consumers are moving away from synthetic-based products to naturally derived products such as lanolin. This trend is particularly being noted in APAC countries, where China is expected to become the largest beauty market during the forecast period. China is already one of the largest importers of US-based personal care and cosmetic products.
Further, the report states that one challenge in the market is complicated refining process of lanolin along with high cost. Lanolin is the grease secreted by the sebaceous glands of wool-bearing animals. Crude lanolin constitutes about 5-25% of the weight of freshly shorn wool. The wool from one sheep will produce around 200-300 ml of recoverable wool grease.