Technavio has been monitoring the global humectants market since 2018 and the market is poised to grow by USD 8.47 billion during 2019-2023, progressing at a CAGR of over 7% during the forecast period.
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Technavio has announced its latest market research report titled global humectants market 2019-2023. (Graphic: Business Wire)
Read the 125-page research report with TOC on "Humectants Market Analysis Report by application (food and beverages, oral and personal care, animal feed, and others) and geography (APAC, Europe, MEA, North America, and South America) and Segment Forecasts, 2019 2023".
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The market is driven by the rise in the use of synthetic humectants. In addition, the increased demand for humectants from the food and beverage industry is anticipated to further boost the growth of the humectants market.
Synthetic humectants such as glycerin, urea, sodium lactate, butylene glycol, and sorbitol are being widely used in several beauty and personal care products because of their low production cost and longer shelf life. Furthermore, humectants are also being used in food treatment where moist infusion, blending, and dry infusion methods are commonly used to treat foods. Hence, the rising use of synthetic humectants in the food and beverage along with the beauty and personal care industry will be a significant factor boosting the growth of the market during the forecast period.
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Major Five Humectants Companies:
Archer Daniels Midland Co.
Archer Daniels Midland Co. operates businesses under various segments, namely origination, oilseeds, carbohydrate solutions, nutrition, and others. The company offers sorbitol under the humectants category, which is used in the food and beverage industry.
BASF SE provides agricultural solutions, chemicals, functional materials and solutions, and performance products. The company offers humectants in the form of 1,2-propylene, di-propylene, and other chemicals.
Cargill Inc. has business operations under various categories such as animal nutrition protein, food ingredients applications, origination processing, and industrial financial services. The company offers various humectants such as sorbitol, mannitol, isomalt, and others.
DowDuPont Inc. serves customers associated with the food, pharma, home and personal care, and energy markets by providing naturally sourced ingredients and bioscience capabilities. The company offers propylene glycol, which is used in the home and personal care industries.
The Lubrizol Corp.
The Lubrizol Corp. offers unique formulations that improve the performance of products. The company offers humectants that are used in paints and coatings with low volatile organic compound (VOC) emission properties.
Technavio has segmented the humectants marketbased on the application and region.
Humectants Application Outlook (Revenue, USD Million, 2019 2023)
- Food and beverages
- Oral and personal care
- Animal feed
Humectants Regional Outlook (Revenue, USD Million, 2019 2023)
- North America
- South America
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