The value of the caprylyl glycol market is projected to reach USD 1.7 billion in 2024 and USD 3.2 billion by 2034 on a global scale. Over the forecast period, global demand is expected to grow at a compound annual growth rate (CAGR) of 6.6%, driven by rising production and consumption of cosmetics and personal hygiene products.
Multiple factors are expected to propel the demand for caprylyl glycol during the assessment period. These include robust growth of cosmetics and personal care sector, growing interest in natural ingredients, and widening applications of 1,2-octanediol in pharmaceutical and other industries.
Caprylyl glycol is becoming a widely used ingredient in the cosmetics and personal care sector. This is due to its growing popularity as a versatile moisturizer, emollient, and antimicrobial preservative. Thus, as the demand for cosmetics continues to surge, so will sales of caprylyl glycol.
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Consumers globally are becoming aware of the importance of personal grooming and hygiene. This is prompting them to invest in a wide range of cosmetic and personal care products, especially those containing caprylyl glycol.
Modern consumers are also looking for natural ingredients in cosmetics and personal care products. Caprylyl glycol aligns well with this trend as it is mostly derived from plant-based sources.
Increasing adoption of caprylyl glycol in pharmaceutical formulations is anticipated to boost sales growth. Similarly, expanding applications of caprylyl glycol in industrial products like coatings, adhesives, and lubricants that require antimicrobial and moisture retention capabilities will fuel demand.
Key Takeaways from the Global Caprylyl Glycol Market:
- The global market is set to reach USD 2 billion by 2034, increasing at a 6.6% CAGR.
- Based on application, skincare products segment is set to record a 4% CAGR.
- By end-use, the cosmetics and personal care segment dominated the industry with a share of 36% in 2023.
- Revenue in China is projected to total USD 506.5 million by 2034.
- The United States is poised to progress at a CAGR of 8% through 2034.
“Escalating demand for natural cosmetic and personal care products and expanding application area of caprylyl glycol is anticipated to boost sales growth during the next decade,” Says an Analyst at Future Market Insights (FMI).
Who is Winning?
Ashland, BASF SE, Clariant AG, Dow, Evonik Industries AG, Inolex, Inc., Lonza Group Ltd., and Symrise are a few of the leading caprylyl glycol manufacturers and suppliers listed in the report. Top players are concentrating on developing novel caprylyl glycol products aimed at improving skin health.
Several companies are investing in research and development to explore new applications of caprylyl glycol. Players are also looking to comply with regulations in the United States, Europe, and other regions. Similarly, strategies like partnerships, acquisitions, collaborations, new facility establishments, and mergers are becoming popular in the industry.
Industry Update:
- In 2023, Swiss-based Clariant AG announced the acquisition of Lucas Meyer Cosmetics, a prominent cosmetic ingredient supplier.
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Leading Players in the Caprylyl Glycol Market
- Ashland
- BASF SE
- Clariant AG
- Dow
- Evonik Industries AG
- Inolex, Inc.
- Lonza Group Ltd.
- Lotioncrafter
- Symrise
- Thor Personal Care
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the caprylyl glycol industry, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study offers compelling insights based on nature (natural and synthetic), grade (cosmetic grade and industrial grade), application (haircare products, skincare products, toiletries, makeup and color cosmetics, and others), and end-use (pharmaceuticals, cosmetics, and personal care, industrial, others) across several regions.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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