Humectants Market

Humectants Market Size:

The global humectants market size reached USD 28.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 49.9 Billion by 2032, exhibiting a growth rate (CAGR) of 6.1% during 2024-2032. The growing use of humectants in the personal care, food and beverage (F&B), and pharmaceuticals industries is moderately expanding the growth of the market.

Humectants Market Analysis:

• Major Market Drivers: The burgeoning skincare industry, where humectants are used in hydrating and maintaining the moisture balance of the skin, is bolstering the growth of the market. Additionally, the burgeoning food and beverage (F&B) industry is driving the demand for humectants to retain moisture and prevent food products from drying out.
• Key Market Trends: The growing shift towards natural and substantial ingredients procured from plant-sources is facilitating the growth of the market. In addition, the rising awareness among the masses about the health risks associated with sugar is catalyzing the demand for low or zero-calories food products produced using polyols.
• Geographical Trends: North America holds the largest segment owing to the approval of several health claims about humectants by Food and Drug Administration (FDA).
• Competitive Landscape: Some of the major market players in the humectants industry include Archer Daniels Midland Company, Ashland Global Holdings Inc., Barentz, BASF SE, Brenntag SE, Cargill Incorporated, Corbion N.V., DuPont Tate & Lyle Bio Products Company LLC, Ingredion Incorporated, Roquette Frères, The Lubrizol Corporation (Berkshire Hathaway Inc.) and Vantage Specialty Chemicals Inc., among many others.
• Challenges and Opportunities: While the market faces challenges like the volatility of raw material prices utilized in the production of humectants, which impacts production costs and supply-demand imbalances, it also encounters opportunities in the development of production technologies that allows key players to produce humectants more efficiently and substantially.

Humectants Market Trends:

Increasing Demand for Natural and Organic Food Products

With the growing awareness among the masses, there is an increase in the formulation of shift towards natural and organic products to meet consumer preferences. Natural humectants, such as glycerin, derived from vegetable oils and honey replacing synthetic alternatives, are incorporated by key players in many food products to extend shelf life and retain moisture. Moreover, these humectants help organizations comply with rules and regulations regarding organic labeling and meet expectations of people for transparency in ingredients, which builds trust and loyalty in brands that show themselves as natural and organic. In line with this, governing agencies in several countries are encouraging organic food production, thereby bolstering the growth of the market. For instance, according to the Agricultural and Processed Food Products Export Development Authority (APEDA), the total area used in the national program for organic production in India was 10.17 MHA in 2023.

Thriving Beauty and Personal Care Industry

As per IMARC Group's report, the global beauty and personal care products market reached around USD 506 Billion by 2023. The rising demand for beauty and personal care products that provide hydration and anti-aging benefits is catalyzing the demand for humectants, which are valued for their ability to attract and retain moisture. They also improve the product efficiency in moisturizers, serums, lotions, and other skincare products, thereby supporting the growth of the market. Furthermore, the growing awareness among the masses about skincare ingredients and their benefits for hydrating health and appearance of the skin is fueling the adoption of products containing effective moisturizing agents like humectants. As people are looking for items that promise to hydrate, plump, and smooth the skin, beauty and personal care key players are increasing the use of humectants in their formulations.

Expansion of Drug Development

Humectants play an essential role in formulating pharmaceuticals by helping to stabilize medications, extend shelf life, and enhance the delivery of active ingredients. With the expansion of drug development with the introduction of new medications and the reformulation of existing ones, the demand for effective humectants is increasing. They are utilized in a wide range of dosage forms, such as tablets, capsules, syrups, and topical creams, to maintain moisture content and ensure the efficacy of drugs. In addition, governing agencies are emphasizing the safety and stability of formulation. They are also investing in the manufacturing of drug development and antibiotics across the globe. For example, the Department of Health and Human Services invested $ 40 million in 2022 to expand the role of biomanufacturing for active pharmaceutical ingredients (APIs) and antibiotics.

Humectants Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on source, type, and application.

Breakup by Source:

• Synthetic
• Natural
   

Synthetic accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the source. This includes synthetic and natural. According to the report, synthetic represented the largest segment.

Synthetic humectants are chemically engineered substances that are not derived from natural sources. Some popular synthetic humectants include butylene glycol, urea, glycerin, tremella extract, sorbitol, and sodium pyrrolidone carboxylic acid (PCA). These humectants have excellent moisture retention properties. The growing utilization of synthetic humectants in personal care products, pharmaceuticals, food and beverages (F&B) is due to their cost-effectiveness in production process, long shelf life, and its wider availability.

Breakup by Type:

• Sugar Alcohol
• Alpha Hydroxy Acid and Polysaccharides
• Glycols
• Others
   

Sugar alcohol holds the largest share of the industry

A detailed breakup and analysis of the market based on the type have also been provided in the report. This includes sugar alcohols, alpha hydroxy acid and polysaccharides, glycols, and others. According to the report, sugar alcohol accounted for the largest market share.

Sugar alcohol refers to a group of sweet-tasting compounds that is used in various skincare products for its ability to assist in retaining moisture. Moreover, rising health consciousness among the masses about weight loss is catalyzing the demand for sugar alcohol. Besides this, it is employed as sweeteners and thickeners in food products. In addition, by regulating glycemic index (GI), individuals prefer sugar alcohol to decrease carbohydrate intake. The most common sugar alcohol is xylitol commonly used in chewing gums, mints, and oral care products. As per the National Library of Medicine report, the global consumption of sugar alcohols reached 1.9 million metric tons by 2022.

Breakup by Application:

• Food and Beverages
• Oral and Personal Care
• Pharmaceuticals
• Animal Feed
• Others
   

Food and beverages represent the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the application. This includes food and beverages, oral and personal care, pharmaceuticals, animal feed and others. According to the report, food and beverages represented the largest segment.

The growing individual demand for food products with long life shelf, along with the rise in hectic working schedules of people is encouraging the adoption of ready-to-eat (RTE) meals in which humectants are used to maintain the proper moisture levels. Moreover, humectants are also utilized in baked goods, confectionery, and meat products to enhance texture and to improve the overall quality of the products. Besides this, it is also employed in beverages like fruit juices to maintain its colour and flavor. According to IMARC report the global ready to eat (RTE) food market size reached USD 181.5 Billion in 2023 and is expected to reach USD 262.4 Billion by 2032.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America leads the market, accounting for the largest humectants market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America represents the largest regional market for humectants.

North America holds the largest segment due to the thriving pharmaceuticals industry across the region, along with the rising awareness among individuals about the benefits of humectants, is impelling the market growth. Moreover, the growing demand for ready-to-eat (RTE) food products is catalyzing the demand for humectants in the region. In line with this, the Government Accountability Office (GAO) reports that cosmetics account approximately $43 billion revenue in the United States in 2021. As a result, the rising production of cosmetic products in the country is driving the demand for humectants to retain moisture and prevent dryness from the skin.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the humectants industry include:

• Archer Daniels Midland Company
• Ashland Global Holdings Inc.
• Barentz
• BASF SE
• Brenntag SE
• Cargill Incorporated
• Corbion N.V.
• DuPont Tate & Lyle Bio Products Company LLC
• Ingredion Incorporated
• Roquette Frères
• The Lubrizol Corporation (Berkshire Hathaway Inc.)
• Vantage Specialty Chemicals Inc.
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Key players are analyzing the distinct needs of multiple industries, such as the food and beverages industry, personal care, and cosmetic manufacturing, to tailor their products accordingly. They are also investing in marketing efforts to promote their products effectiveness, versatility, and safety. Moreover, key manufactures are forming partnerships with cosmetic key players, food processors, and pharmaceuticals companies to create opportunities for joint product development, co-branded promotions, and to expand their market reach. Besides this, the growing investments in the research and development (R&D) activities to innovate new formulations and technologies is strengthening the growth of the market. Additionally, key players are innovating their productions and centers to meet the growing demand of people around the world. For example, in 2023, Roquette introduced their new pharmaceutical innovation center in Pennsylvania to innovate pharmaceutical ingredients.

Humectants Market News:

• April 8,2024: Brenntag SE, the global market leader in chemicals and ingredients distribution announced a strategic partnership with Knowde, the pioneering digital customer experience platform for the ingredients, polymers, and chemical industry for accelerating the application of artificial intelligence (AI) to product data management in chemical distribution.
• April 9, 2024: BASF SE showcases innovative solutions that accelerate the transition in the personal care industry towards more sustainable solutions. These offers are part of BASF’s care chemicals initiative Care 360° – Solutions for Sustainable Life.

Humectants Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the humectants market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global humectants market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the humectants industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.