Humectants are hygroscopic substances that are used to keep things moist. Humectants consists of various hydrophilic groups such as amines and carboxyl and hydroxyl groups. Humectants include polysaccharides, proteins, alcohols, acids, urea, aloe Vera, glycerin and sorbitol. The major applications of humectants include medicines, cosmetics, pesticides and paints & coatings. Various factors that are driving the global humectants market are increasing demand from the cosmetic industry and changing lifestyle which is anticipated to fuel the cosmetics market. Some of the humectants are derivatives of petroleum products and are subjected to price volatility as they are derived from crude oil. Various players operating in the global humectant market leverage opportunity due to the technological up-gradation in the cosmetics and food industry. Global humectants market is exhibiting the remarkable growth owing to increasing population and increasing construction industry which drives the paint and coating market and in turn drives the global humectants market over the forecast period.
Humectants Market Segmentation
Global humectants market is segmented on the basis of type, application and region. Based on the type segmentation includes proteins, acids, polysaccharides, alcohol and small molecules such as glycerin, urea, sorbitol and aloevera. Of which protein is anticipated to be the dominating segment owing to the presence of various health benefits associated with its consumption such as simulation of essential hormones and enzymes. On the basis of application humectants market is segmented into cosmetics, pesticides, medicines, paints and coatings. Among all the sub segments of the humectants market cosmetics sub segment is anticipated to witness remarkable growth over the forecast period followed by the medicines segment. Global humectants market is segmented on the basis of region into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Middle East and Africa and Japan.
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Humectants Market: Region-wise Outlook
The Global humectants market is expected to witness significant growth over the forecast period due to the rising demand for medicines coupled with increasing awareness health awareness among consumers. Globally, among all the regions, North America is expected to contribute the highest market share followed by European region over the forecast period due the FDA approval for using humectants in food products. In Europe the usage of humectants is limited owing to the less usage of humectants in cosmetics and more emphasis of government to use natural humectant in comparison to synthetic humectants owing to less harmful effects associated with the natural humectants. However, Asia Pacific is expected to be the fastest growing market owing to the rising disposable income coupled with changing lifestyle of consumers is expected to support the market growth of the cosmetics market which eventually drives the market growth of humectants market.
Humectants Market: Drivers
Major factors that are expected to fuel the growth of humectants market are increasing usage of humectants in medicines coupled with the rising usage of the humectants in the food products.For example polydextrose is the food additive that is used as substitute for sugar in food products. However major restraint that is expected to hamper the market growth of the humectants is the adverse effect of humectant on consumer health. For example polydextrose and hyaluronic acid can cause cancer when consumed in high dosage. Other factor that is expected to hinder the market growth of the global humectant market is price volatility as some humectant are made from crude oil.
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Humectants Market: Key Players
Major companies operating in humectants market are BASF SE, Wuhan Sanjiang Space Gude Biotech Co., VMP Chemiekontor GmbH, The Lubrizol Corporation, Vantage Specialty Ingredients, Inc., and The Dow Chemical Company among others.