Global Humectants Market: About this market
Humectants are hygroscopic substances that retain moisture. Technavio’s humectants market analysis considers the application of humectants in food and beverages, oral and personal care, animal feed, and others. Our analysis also considers the use of humectants in APAC, Europe, MEA, North America, and South America. In 2018, the food and beverages segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the use of humectants as a food additive will play a significant role in the food and beverages segment to maintain its market position. Also, our global humectants market looks at factors such as increased demand for humectants from the food and beverage industry, considering safe use of humectants in the food and beverage industry, and rise in the use of synthetic humectants. However, fluctuating crude oil prices, health problems associated with the use of polyethylene glycol, and supply-demand imbalance for humectants may hamper the growth of the humectants industry over the forecast period.
Global Humectants Market: Overview
Rise in the use of synthetic humectants
Synthetic humectants are increasingly being used in beauty and personal care products, including hair conditioners, lip balms, and some soaps. Synthetic humectants are made of glycerine, urea, butylene glycol, sodium lactate, and sorbitol. Factors such as low cost of production and longer shelf life have increased their use in beauty and personal care products. Synthetic humectants are also used as anti-caking agents to prevent the formation of lumps and to help the food products flow freely. The increasing use of synthetic humectants in F&B and beauty and personal care is one of the major factors driving the growth of the global humectants market at a CAGR of over 7% during the forecast period.
Increasing demand for humectants in the pharmaceutical industry
Humectants are generally used in the pharmaceutical industry to maintain the moisture content in medicines and increase their shelf-life. For instance, sorbitol is used in emulsion ointments, in gelatin capsules, and used medically in culture mediums to differentiate various strains of bacteria such as E. coli. Similarly, glycerin is used in medicines due to its smoothness and lubricating properties. The growing demand for humectants in pharmaceutical products will have a positive impact on the growth of the global humectants market size.
For the detailed list of factors that will drive the global humectants market size during the forecast period 2019-2023, click here.
With the presence of several players, the global humectants market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several humectant manufacturers, that include Archer Daniels Midland Co., BASF SE, Cargill Inc., DowDuPont Inc., and The Lubrizol Corp.
Also, the humectants market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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