The market for emollient esters is expected to develop at a CAGR of over 3% during the forecast period. The major factor driving the growth of the market is increasing demand for personal care and beauty products and growing awareness regarding personal hygiene. Unfavorable conditions arising due to the sudden outbreak of COVID-19 is anticipated to foil the growth of the market during the forecast period.
– Emollient Esters are used extensively in cosmetics and personal care related items. Demand for caprylic capric triglycerides is expected to rise due to its skin smoothening and antioxidant benefits.
– Asia-Pacific region is expected to be the fastest-growing market due to the large-scale production as well as consumption of the emollient esters products and their derivatives.
Key Market Trends
Caprylic/Capric Triglyceride Demand to Boost Emollient Esters Market
– Caprylic Capric Triglycerides is an oily fluid, processed from blending coconut oil with glycerin. This mixture is often called capric triglyceride. It helps with smoothening the skin and furthermore works as an antioxidant.
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– These compounds are made of naturally occurring fatty acids. The high-fat substance in them nearby their surface and antioxidizing attributes, make them ideal for chemical and skincare items.
– In 2019, the market estimation of the worldwide cosmetics business is estimated to be USD 537.7 billion and is anticipated to reach a value of USD 758.4 billion by 2025. This is expected to increase the demand for caprylic capric triglycerides in the market.
– All the aforementioned factors are expected to drive the Emollient Esters market during the forecast period.
Asia-Pacific to be the Fastest Growing Emollient Esters Market
– Asia-Pacific is anticipated to be the fastest-growing market owing to the huge demand for cosmetics and skin care products from the enormous population residing in the region.
– Revenue in the Skin Care segment from the Asia-pacific region is estimated to be USD 63.12 billion in 2020. The market is anticipated to grow annually by 4.6%.
– In 2020, China’s revenue in the hair care segment is projected to be USD 8.35 billion. It is forecasted to grow annually by 4.4%.
– In 2020, Japan is expected to generate a revenue of USD 6.88 billion from its cosmetics business segment and is predicted to grow at a rate of 2.1% annually.
– Thus, rising demand from various industries coupled with government support is expected to drive the market studied in the region during the forecast period.
The market for emollient esters is partially fragmented. Some of the players in the market include BASF SE, Evonik, Ashland, The Lubrizol Corporation, and Croda International Plc.
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