The global humectants industry is poised for significant growth, with an anticipated market size of US$ 14.72 billion in 2023 and US$ 24 Billion by 2033 with a projected compound annual growth rate (CAGR) of 5% over the forecast period. This expansion is largely attributed to the rising demand for natural humectants, which has surged in recent years. As a result, food manufacturers now have the capacity to create a broader array of food products while relying less on synthetic humectants, aligning with the growing preference for natural and clean-label ingredients in the food industry.
By 2033, the packaging food market and cosmetics market will generate US$ 24 billion in sales of the humectants market. Recently, humectants have gained popularity in the food and beverage industry because they prolong the shelf life of products, help to retain moisture, and enhance the effectiveness of products by increasing their function. Due to the increase in food and beverage production, cosmetics and technological advancements, and a change in lifestyle, the global humectants market remains in high demand.
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It is anticipated that the market for humectants will continue to grow in coming years as the demand for food & beverage, personal care, and cosmetic products is expected to increase in developed countries such as Europe and North America. As food humectants are helpful to keep the moisture of products, they are a major focus of interest in ready-to-eat meals and snacks. As disposable incomes rise along with a change in lifestyle, Asia Pacific is predicted to be the fastest growing market for cosmetics, which will ultimately drive growth in the humectants industry.
Key Takeaways from the Market Study
- According to market forecasts, the global humectants industry is set to reach US$ 24 Billion by 2032.
- According to projections, China will grow at a CAGR of 5.8% between 2023 and 2033.
- Skincare products are expected to account for more than 40% of the global market.
- U.K., Germany, and the U.S. are expected to grow at a combined rate of 42.6% over the forecast period.
- According to market projections, the North American humectants industry is expected to grow by 33% by 2033 during the forecast period.
“Surging demand for conventional food and beverage products, as well as an increase in the use of natural ingredients in cosmetics and personal care products, will boost the market in the coming years,” comments an analyst at FMI.
Competitive Landscape
Archer Daniel Midland Company, Ashland Global Holdings Inc., BASF SE, Barentz, Brenntag AG, Cargill Incorporated, Ingredion, Roquette Freres, The DOW Chemical Company.
Strategic partnerships allow manufacturers to increase production and meet consumer demand, which boosts revenue and market share. Utilizing new technologies and products to manufacture that are beneficial to the end user. Strategic partnerships can help companies expand their production capabilities.
- A new humectant will be produced at a Vantage Specialty Chemicals plant in Leuna, Germany. Liponic EG-1 (INCI: Glycereth-26) is a humectant manufactured by Vantage Specialty Chemicals. As the demand for palm-free, naturally derived humectants grows, Vantage will be able to supply the growing demand. By enhancing local availability and enhancing service levels, Vantage will be able to provide better service to European customers with the new production line at the Leuna facility.
- As a result of the extension, Liponic EG-1 will also be able to secure a secure supply chain worldwide. As a result of enhanced traceability, Liponic EG-1 VLG will be marketed at Leuna. Also, this investment is intended to contribute to the reduction of the company’s carbon footprint globally. Liponic EG-1 will reduce its environmental impact due to its close proximity to European customers.
- In Malaysia, CETAPHIL® is the #1 dermatological skincare brand, and the company is excited to announce the new Cetaphil Soothing Foam Wash, designed for dry to normal sensitive skin and designed to provide optimal comfort.
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Key Segments Covered in the Humectants Industry Survey
By Product:
- Sugar Alcohol
- Alpha Hydroxy Acid
- Glycols
- Others
By Application:
- Food & Beverage
- Oral & Personal Care
- Pharmaceuticals
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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 over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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