Humectants Market Size - By Source (Synthetic Humectants, Natural Humectants), By Application (Food and Beverages, Personal Care & Cosmetics, Pharmaceuticals, Animal Feed, Agrochemicals, Textiles, Others) & Global Forecast, 2023 – 2032

Humectants Market Size

Humectants Market size was valued at USD 15.9 billion in 2022 and is estimated to witness over 6.6% CAGR from 2023 to 2032. The cosmetics and personal care sector is a significant consumer of humectants. These compounds are widely used in skincare products, hair care products, lotions, creams, and other formulations to attract and retain moisture, improving skin and hair health. The growing focus on personal grooming and skincare routines, along with the increasing awareness of natural and organic ingredients in beauty products, drives the demand for humectants.
 

In the food and beverage industry, humectants play a crucial role in maintaining the texture, moisture, and shelf life of various products. They are used in baked goods, confectionery items, processed foods, beverages, and other applications to prevent product spoilage and preserve freshness. As consumer preferences shift toward convenience foods and on-the-go snacks, the demand for humectants is likely to rise.

The prices of raw materials used in humectants production can be subject to fluctuations due to various factors like supply-demand imbalances, geopolitical issues, and climate events. These fluctuations can affect the overall cost of humectants and influence their market competitiveness. Some synthetic humectants are derived from non-renewable resources or involve chemical processes that raise environmental concerns. Consumers and industries are increasingly demanding sustainable and eco-friendly alternatives, which puts pressure on manufacturers to develop natural and biodegradable humectants. Regulatory changes or restrictions on the use of specific humectants can disrupt the humectants market and affect industry players.
 

COVID-19 Impact

During the pandemic, there was a shift in consumer demand towards essential products like food, healthcare, and personal hygiene items. While there was still demand for humectants in essential products like hand sanitizers and personal care items, the demand for non-essential products that incorporate humectants might have declined. Many industries, such as cosmetics, personal care, and food processing, experienced a slowdown in production due to restrictions and reduced consumer spending. This, in turn, could have impacted the demand for humectants used in these industries. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is anticipated to drive the market growth.
 

Humectants Market Trends

Consumers were increasingly seeking natural and sustainable products, leading to a rising demand for humectants derived from plant-based sources. Ingredients like glycerin from vegetable oils and natural extracts were gaining popularity as alternatives to synthetic humectants. The cosmetics and personal care industry continued to witness growth, driving the demand for humectants used in various skincare, haircare, and cosmetic formulations. Consumers' focus on self-care and grooming routines contributed to the increasing adoption of products containing humectants. Thus, the growing prevalence of chronic and blood-related disorders is expected to expedite the market revenue.
 

Humectants Market Analysis

The natural humectants market held over USD 8.9 billion revenue in 2022. Plant-derived humectants are sought after due to their natural origin and eco-friendly attributes, aligning with the growing consumer preference for sustainable and environmentally friendly ingredients. Consumers perceive plant-based humectants as safer and gentler on the skin, making them popular in natural and organic cosmetics and personal care products. Some animal-based humectants are prized for their high efficacy in attracting and retaining moisture, making them valuable ingredients in skincare formulations.
 

The food and beverages segment accounted for 27% of the humectants market share in 2022. Humectants are used in the food industry to retain moisture in products, preventing them from drying out and extending shelf life. Humectants can improve the texture and mouthfeel of food and beverage products, making them more palatable to consumers. Humectants are prized for their ability to attract and retain moisture in the skin, keeping it hydrated and moisturized.
 

U.S. humectants market size was reached USD 3.5 billion in 2022. The personal care and cosmetics industry is a significant consumer of humectants in North America. Humectants are widely used in skincare products, hair care products, lotions, creams, and other formulations to attract and retain moisture, enhancing product performance and consumer appeal.
 

Humectants Market Share

Some of the major companies operating in the humectants market are

• Archer Daniels Midland Company (ADM)
• Cargill
• Incorporated
• BASF SE
• Dow Inc.
• Ashland Global Holdings Inc.
• Croda International Plc
• DuPont de Nemours, Inc.
• Ingredion Incorporated
• Roquette Frères
• Lubrizol Corporation (a subsidiary of Berkshire Hathaway)
• Evonik Industries AG
• Lonza Group Ltd.
• Corbion N.V.
• Eastman Chemical Company
• Vantage Specialty Chemicals, Inc.

These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Humectants Industry News:

In December 2022, the strategic acquisition of Tom Ford by Estée Lauder Companies represents a prudent maneuver enabling the world's second-largest beauty enterprise to enhance its competitive position vis-à-vis L'Oréal, its primary rival.
 

This humectants market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion & Units from 2018 to 2032, for the following segments:

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Market, By Source

• Synthetic humectants
• Natural humectants

Market, By Application

• Food and Beverages
• Personal Care & Cosmetics
• Pharmaceuticals
•  Animal Feed
• Agrochemicals
• Textiles
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Egypt