Humectants market is projected to expand at a considerable pace over the span of 2022-2028. The demand for humectants has increased dramatically owing to an upsurge in the compound used for extending the shelf life, retaining moisture, and augmenting the product effectiveness. Besides, the rising use of humectants in the food and beverages, cosmetic, and pharmaceutical sectors would further stimulate the growth curve of humectants market over the forecast period.
Besides, humectants are generally used in water-based paints to keep the moisture content stable during storage. The product is also used in medicines to analyze the moisture content of pharmaceutical dosages and accomplish active ingredient solubility.
Humectants are hygroscopic substances used to keep things moist. When used as food additive, the substance has the effect of retaining moisture in the food and as a component of antistatic coatings for plastics. Humectant attracts the moisture in the air nearby through absorption, drawing the water vapor beneath or into the object’s surface.
Factors like fluctuations in raw material prices and product extraction from petroleum products that add to the environmental impact would hamper the growth structure of humectants market over the foreseeable time frame. In addition, the derivation of a few humectants from natural sources will limit their production and profit margin among product producers and suppliers.
Based on the source, synthetic humectants are gaining popularity. This can be attributed to the compound’s demand in major end-use applications like cosmetics, F&B, personal and oral care products. Some of the widely used synthetic humectants include triethylene glycol, butylene glycol, and sodium hexametaphosphate. Of these, butylene glycol is utilized as a conditioning agent in different cosmetics and personal care products. Conditioning agents add a layer of softness and enhanced texture to skin and hair. Butylene glycol also works to condition hair and skin by coating the surface of human cells. The component is also considered to be a clear, low viscosity liquid that functions well as a humectant.
In terms of the type, humectants market is foreseen to account for considerable growth across the alpha hydroxy acids (AHAs) & polysaccharides segment. AHAs are exceptional chemical exfoliants for people with sensitive and dry skin and boast of humectant properties allowing them to retain moisture to the skin. Moreover, increased use of AHAs help in thickening the epidermis and increasing collagen production, supporting restoration of photo damaged skin while protecting it from future UV damage.
Surging product usage in skincare and personal care industry is estimated to churn out notable growth for humectants market during 2022-2028. Humectants are effective ingredients that draw moisture into the top layer of skin. In body and face skincare, the product is typically used in leave-on hydrating products like lotions, serums, and creams. However, they are not used in hair products, since pulling out the moisture from air into hair could result in fizz.
Regionally, European humectants market would expand significantly in the coming years driven by the thriving cosmetics industry and growing need for food production. Furthermore, rising population and expanding urbanization in different European economies would further add to the regional humectants market share.
The global humectants industry is highly consolidated and boasts of the presence of The Dow Chemical Company (Dow Inc.), BASF SE, Cargill Incorporated Inc., Archer Daniels Midland Company (ADM), VMP Chemiekontor, Lipo Chemicals, and Ingredion Incorporated, amongst others.
These players are incorporating diverse marketing strategies like product launches, mergers and acquisitions, and partnerships to gain a competitive edge in the global market.
The global humectants market has been severely influenced by the novel outbreak of SARS-CoV-2 infection spread during 2020, mainly due to the temporary production halt in production facilities, disruptions in raw material supply chain, and movement restrictions. The market growth had been negatively impacted by declining product sales across the skin care and personal care industry owing to WFH trends.