In 2022, the global humectants market had a size of USD 19.89 billion. It is projected to reach USD 22.45 billion by 2032, exhibiting a revenue CAGR of 6.2% throughout the forecast period.
One of the primary factors fueling the growth of market revenue is the growing demand for skincare and haircare products. This increase in demand can be attributed to the heightened awareness among individuals regarding personal hygiene and grooming practices.
Additionally, the utilization of humectants in the food and beverage industry is contributing to the expansion of market revenue. These substances play a crucial role in preserving moisture within food products. Moreover, the pharmaceutical sector is witnessing a surge in the demand for humectants due to their ability to maintain the stability and efficacy of medications. The prevalence of chronic diseases, such as diabetes and cardiovascular disorders, has further propelled the need for humectants within the pharmaceutical field.
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Top Companies Operating in the Global Humectants Market Report:
· DowDuPont Inc.
· Archer Daniels Midland Company
· Ingredion Incorporated
· Cargill, Incorporated
· Roquette Frères
· BASF SE
· AAK AB
· Galactic SA
· ADM WILD Europe GmbH & Co. KG
· Humectants International Group
Major Driving Factors of Humectants Market
· Increasing Demand in Cosmetics and Personal Care: Humectants are widely used in cosmetics and personal care products such as moisturizers, lotions, and hair care products. The growing consumer awareness about skincare and personal grooming, coupled with the rising disposable income, has led to an increased demand for humectants in this sector.
· Expansion of the Skincare Industry: The skincare industry has witnessed remarkable growth in recent years, driven by factors such as increasing consumer focus on beauty and wellness, a rise in demand for natural and organic skincare products, and advancements in product formulations. Humectants, such as glycerin and hyaluronic acid, are widely used in skincare products, further propelling the growth of the humectants market.
· Growing Awareness of Health and Hygiene: There is a growing emphasis on maintaining health and hygiene, which has increased the demand for personal hygiene products such as hand sanitizers, soaps, and disinfectants. Humectants, due to their moisturizing and water-binding properties, are essential components in these products, contributing to the expansion of the humectants market.
· Regional Economic Growth and Urbanization: Economic growth and urbanization in emerging economies have led to higher disposable incomes, changing lifestyles, and increased consumer spending. These factors have positively impacted the humectants market as consumers have greater purchasing power and are willing to invest in premium personal care and food products.
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The global Humectants market is segmented into:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Type Outlook:
- Natural
- Synthetic
Application Outlook:
- Food & Beverage
- Personal Care & Cosmetics
- Pharmaceuticals
- Animal Feed
- Others
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