(I-BusinessNews.Com, July 08, 2021 ) Humectants Market size is forecast to reach $32 billion by 2026, after growing at a CAGR of 7.5% during 2021-2026. The market for humectants has increased in recent years due to a rise in their use for extending product shelf life by preserving moisture and growing product effectiveness. The market for humectants in food and beverage applications is on the rise. Glucose syrup and honey are the most commonly used humectants, which help the product maintain its shape while also preserving it for a longer period of time. In addition, many personal care and cosmetic products use humectants such as butylene glycol and triethylene glycol as an ingredient. Hair conditioners, lip balms, face or body cleansers, creams, and body lotions are examples of these items that are commonly used as moisturizers. Changing cosmetics and lifestyle trends are expected to influence the global humectants market. Furthermore, humectants are commonly used in water-based paints to keep the moisture content stable during storage. Humectants such as Glyceryl triacetate are increasingly being used in medicines to monitor the moisture content of pharmaceutical dosages and achieve active ingredient solubility. However, since a number of humectants are petroleum derivatives, volatility in crude oil prices may stymie the global humectants demand. Beginning in the second month of 2020, virtually every nation in the world has proposed a country-level lockout, which led to the restriction on going outside their houses. Under the panic situation, consumers prefer buying products based on their higher shelf life. As humectants increase products shelf life, the demand for humectants are also increased.
Humectants Market Segment Analysis Ã‚Â– By Source
Sugar alcohols held the largest share in the humectants market in 2020. Economic and social development, changing lifestyles, and increasing population purchasing power in all developing regions have actively led to an increase in demand for ready-to-eat food, bakery, and confectionery. People are becoming increasingly concerned about sugar intake as a result of diseases like diabetes and obesity, which is driving up demand for products deprived of sugar additives. Since perishable goods have a short shelf life, manufacturers and their distribution networks aim to broaden their product lines and expand their businesses so that unpreserved and perishable products can be kept for much longer periods of time. Nowadays, due to a growing awareness of natural and healthy personal care, natural humectants are in high demand. This factor is likely to be beneficial to the markets overall growth and development in the coming years.
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Humectants Market Segment Analysis Ã‚Â– By Type
Synthetic humectants dominated the global market in 2020, because of their widespread use in major end-use applications like food and beverages, cosmetics, and oral and personal care products. Butylene glycol, triethylene glycol, Sodium hexametaphosphate, are widely used synthetic humectants. Whereas natural humectants are expected to grow at higher CAGR levels during the forecast period. Hyaluronic acid, aloe vera, honey, seaweed, and other natural humectants are widely used as moisturizers because they encourage skin repair and have anti-acne and anti-inflammatory properties that help in healing.
Humectants Market Segment Analysis Ã‚Â– By Application
Food & beverages held the largest share in 2020 and is growing at a CAGR of 5.8% during the forecast period. Various factors, such as extending the shelf life of a product, increasing its effectiveness, and preserving moisture, are driving the market for humectants in the food and beverage industry. The market demand is likely to be boosted by an increase in innovations in the sector of applications in humectants in the food industry by various key market players, as well as an increase in growth activities and comprehensive research in the food industry. Humectants are additives that help to keep food fresh for longer periods of time. Moreover, Growth in the number of diseases developing from cattle, together with the awareness of their health. Manufacturers are expected to consume ingredients that are safe for human use in order to provide consumers with safety and applicability. Thus, is expected to influence the humectants market.
Humectants Market Segment Analysis Ã‚Â– By Geography
North America region held the largest share in the humectants market in 2020 up to 40%, due to the FDA approval for using humectants in food products. In addition, rising disposable income coupled with changing lifestyle of consumers is influencing the market growth in the region. In Europe, the use of humectants is limited due to the reduced use of humectants in cosmetics and more emphasis by the government on the use of natural humectants compared to synthetic humectants due to the less harmful effects associated with natural humectants. The regional demand for humectants is expected to grow due to the increased use of humectants in food due to lower calories and moisture holding capability.
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Humectants Market Drivers
Increase in Diseases Induced by Food Contamination
The awareness of the nutritional value of food products, as well as an increase in diseases induced by food contamination and spoilage, are driving demand from a variety of end-use industries, resulting in increased use of humectants such as in the food industry. Food products commonly use humectants as additives. According to a survey conducted in 2017, one out of every nine people in the world suffers from hunger and malnutrition. This number is expected to rise in the coming years. There has been a large increase in diseases due to food spoilage and food poisoning. For instance, According to the World Health Organization (WHO) report, around 40% of children under the age of 5 suffer from foodborne diseases, while around 125,000 die every year from malnutrition and food poisoning in children. The Government is taking initiatives to encourage people to consume safe and healthy food in order to prevent deaths from unsafe food consumption. This is primarily influencing humectants market growth.
Humectants Market Challenges
Environmental Issues Related With Humectants
The humectants market may be hampered by raw material price volatility because they are derived from petroleum products. In addition, the removal of a few moisturizers from specific natural sources, i.e. plant extracts, marine weeds, etc., will reduce their production and profit margins among suppliers and producers of products. Similarly, its negative impact on human health could stifle product growth for the near future. Health-related side effects in people are frequently observed as a result of humectants, and stringent government regulations regarding the standard of quality consumed in the food industry, as well as a severe lack of awareness, are expected to be a hindrance to the growth of the humectants market in the coming years.
Humectants Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Humectants Market. Major players in the Humectants market includes Archer Daniels Midland Company, Ashland Global Holdings Inc., BASF SE, Barentz, Brenntag AG, Cargill Incorporated, E. I. Du Pont De Nemours and Company, Ingredion Incorporated, Roquette Freres, and The DOW Chemical Company among others.
In June 2019, Cargill opened its first innovation center in Singapore to meet changing customer preferences and tastes.
In 2019, for the 11th year in a row, Dow Chemical and The Nature Conservancy has renewed their partnership. This partnership focus on conducting rigorous scientific studies to demonstrate that nature-based solutions can be both good for business and good for the environment.
Asia-Pacific is expected to grow at the highest CAGR during the forecast period, due to the untapped market potential of emerging food and beverage players in developing countries like China and India.
Hyaluronic acid, a natural humectant, is injected into the knees to treat osteoarthritis. Sodium hexametaphosphate and Sorbitol, a popular natural humectant, has a wide range of applications in the food industry and is used as a food additive in sugarless foods. This increase in the use of natural humectants in the food industry is expected to fuel the overall market growth.
Changing lifestyles, economic development, and increasing disposable income among people have led to an increase in demand for bakery, confectionery, and ready-to-eat items. The demand for humectants is expected to rise as a result of this.
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