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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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.
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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.
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