The United States caprylyl
glycol market is poised for significant growth, with a projected
Compound Annual Growth Rate (CAGR) of 6.8% by 2034, reaching a
value of USD 570.2 million. This
surge is driven by a rising consumer inclination towards natural
cosmetics and personal care items. As sustainability and wellness
become increasingly important, the demand for these products
continues to soar, promising a lucrative future for the
industry.
NEWARK,
Del., May 9, 2024 /PRNewswire/ -- The
global caprylyl glycol market value is estimated to total
USD 1.7 billion in 2024
and USD 3.2 billion by
2034. Global demand is anticipated to increase at a CAGR of
6.6% throughout the forecast period, fueled by increasing
production and consumption of cosmetics and personal care
items.
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 3.2
billion by 2034, increasing at a 6.6% CAGR.
- Based on application, skincare products segment is set to
record a 6.4% 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 6.8% 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 Nikhil
Kaitwade, Associate Vice President at Future Market
Insights (FMI).
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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.
Caprylyl Glycol Market Key Players
- Ashland
- BASF SE
- Clariant AG
- Dow
- Evonik Industries AG
- Inolex, Inc.
- Lonza Group Ltd.
- Lotioncrafter
- Symrise
- Thor Personal Care
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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 the Chemicals and Materials Division at Future Market
Insights (FMI)
The chemicals and materials division of Future Market
Insights (FMI) offers a distinct and pinpoint analysis of the
chemicals and materials industry. This exhaustive coverage extends
from commodity, bulk, specialty, and petrochemicals to advanced
materials, composites, and nanotechnology in particular, with
special emphasis on 'green alternatives, recycling and renewable
technology developments, and supply-demand-trade assessment. Our
research studies serve as referencing market guidelines for
chemical manufacturers, research institutions, channel partners,
and government bodies for developing – 'The Way
Forward'.
Authored By
Nikhil Kaitwade (Associate Vice President at Future Market
Insights, Inc.) has over a decade of experience in market research
and business consulting. He has successfully delivered 1500+ client
assignments, predominantly in Automotive, Chemicals, Industrial
Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research
methodology, creating a unique analysis framework, statistical data
models for pricing analysis, competition mapping, and market
feasibility analysis. His expertise also extends wide and beyond
analysis, advising clients on identifying growth potential in
established and niche market segments, investment/divestment
decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in
Mechanical Engineering. Nikhil has authored several publications
and quoted in journals like EMS Now, EPR Magazine, and EE
Times.
Have a Look at Related Research Reports of Chemicals
& Materials
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the
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