According to the research of Future Market Insights, over the projected period, the Cetyl Palmitate Market is expected to expand at a CAGR of 4.80%. The industry’s estimated value will increase from US$ 355.7 Million in 2023 to US$ 501.7 Million in 2033.
Cetyl Palmitate Market is a specialty chemical derived from the esters of palmitic acid along with cetyl, isopropyl, or ethylhexyl alcohol. They are naturally occurring fatty acids which can be obtained from animals or plants. Cetyl palmitate is also a naturally occurring fatty acid derived by the esterification process of the esters of cetyl alcohol and palmitic acid.
Cetyl palmitate is considered to be a major component of spermaceti which is a white, crystalline substance obtained from wax of sperm whale oil, and can also be found in staghorn coral. Cetyl palmitate is most commonly used in cosmetic products owing to its functional properties. Cetyl palmitate is used as an emulsifier and emollient agent which is widely used in the manufacturing of creams and lotions as it helps in conditioning of the skin surface.
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Global Cetyl Palmitate Market: Drivers and Restraints
Increasing demand for naturally derived personal care products among the consumers, has shifted the focus of the manufacturers towards usage of naturally obtained ingredients in their product offerings. As cetyl palmitate is naturally occurring component from animal and plant source, is, thereby gaining traction among the product manufacturers.
However, European Union Cosmetics Directive has permitted its use in cosmetics product provided they are not derived from animal origin. Apart from its origin, cetyl palmitate exhibits broad spectrum of applications. Owing to its emollient property it helps to condition the skin surface and hence provides smooth and soft texture to the skin.
Cetyl palmiatte also acts as emulsifying and thickening agent in many creams and lotions, it is also used as a surfactant in hair care products. It is used across broad range of personal care products such as lip balm, lipsticks, deodorants, cream, anti-aging treatment among others. Hence, aforementioned application base is propelling the growth of cetyl palmitate market. Moreover, cetyl palmitate is not associated with any side effects which further fuels the market growth of cetyl palmitate
However, the permitted concentration of cetyl palmitate is up to 2.7%. Hence, lack of knowledge among the product manufacturers regarding the permissible concentration may lead to uncertain side effects among the consumers if used in higher concentration in the product, which may restrain the market growth.
Moreover, there are various other components which can combine with palmitic acid and produce product similar to cetyl palmitate which can further be used in cosmetic products. Thereby, hampering the growth of cetyl palmitate market.
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Global Cetyl Palmitate Market: Region-wise Outlook
The global cetyl palmitate market is categorized into seven regions, namely, Western Europe, Eastern Europe Middle East and Africa (MEA), Asia Pacific excluding Japan (APEJ), Japan, Latin America and, North America. North America holds the major share in the global cetyl palmitate market.
As consumers are shifting their preference towards natural products coupled with increase in vegan population together is supporting the growth for cetyl palmiatte market among product manufacturers. The cetyl palmitate market in Western Europe is expected to record substantial growth during the forecast. However, stringent government regulation may affect the growth opportunities.
The cetyl palmitate market in Latin America is expected to record robust growth owing to the growing personal care industry in the region. The APEJ cetyl palmitate market is expected to capitalise on the opportunity owing to easy trade flows, potential investment opportunity for product manufacturers and changing consumer preferences towards adoption of the natural cosmetics products.
Global Cetyl Palmitate Market: Key Players
Some of the prominent players identified in the global cetyl palmitate market includes: Sigma-Aldrich Co. LLC., Fine Organics, Twiwan Njc Corporation., Ltd., DeWolf Chemical an Azelis Americas company, Kraft Chemical Company, Oleon NV, BASF SE, Hallstar.Croda International Plc
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Cetyl Palmitate market segmentation by category
By product type:
- Shampoos & Conditioners
- Lipsticks and lip balms
- Creams and lotions
By hair type:
- Emulsifier
- Stabilizer
- Skin Conditioner
By Application:
- Cosmetics And Personal Care
- Pharmaceutical Industry
By distribution channel:
- Online
- Offline
By region:
- north America
- Latin America
- Asia pacific
- eastern Europe
- western Europe
- Japan
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