Newark, July 30, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.71 billion in 2023 global caprylyl glycol market will reach USD 3.19 billion by 2033. Today's consumers are more or less conscious about the safety of products, especially when it comes to the microbial stability of their products. Preservatives are a basic requirement for cosmetics products. Since caprylyl glycol is an antimicrobial, the vice president has it as an ideal way to prevent product spoilage, providing market opportunities to expand. More importantly, healthy lifestyles are becoming a major area of focus and concern for most people, and this is another opportunity through which manufacturers of caprylyl glycol can make sales and profits through skincare and hair care products. Caprylyl glycol is a very useful ingredient, and properly positioning it alongside the existing and developing consumer trends would help manufacturers create products that appeal to the health-conscious clientele and ultimately help expand these segments.
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Key Insight of the global Caprylyl Glycol market
Asia Pacific is expected to witness the highest market growth over the forecast period.
This region has been experiencing urbanization and is going through lifestyle changes; therefore, there is increased usage of personal care products. High disposable income in countries such as China, India and Southeast Asia helps consumers fund their higher spending on premium personal care and cosmetic products, thereby contributing to the overall growth. Further, due to the emerging middle-income population in Asia Pacific countries, demand for cosmetics is increasing due to increased spending power. This demographic shift underpins the growth of caprylyl glycol uses in diverse applications since the world's population is ageing. Lastly, and most importantly, the Asia Pacific region is experiencing steady growth in its personal care and cosmetics market. The region itself is on the evolution of cosmetics care products, where Caprylyl glycol has beneficial applications, including its moisturization and preservative attributes. Also, consumers' awareness of better quality products in personal care products due to better quality ingredients elevates. A key attribute of caprylyl glycol is that it is both highly effective and safe for use – in line with the changing attitude of the region's people towards the products they use.
In 2023, the cosmetic grade segment dominated the market with the largest share of 71.03% and revenue of 1.21 billion.
The type segment is divided into cosmetic grade and industrial grade. In 2023, cosmetic grade segment dominated the market with the largest share of 71.03% and revenue of 1.21 billion.
In 2023, the personal care & cosmetics segment dominated the market with the largest share of 70.52% and revenue of 1.20 billion.
The end-use segment is classified into chemical intermediate, personal care & cosmetics, and others. In 2023, the personal care & cosmetics segment dominated the market with the largest share of 70.52% and revenue of 1.20 billion.
Advancement in market
In August 2023: The German-based chemical company Evonik Industries has recently introduced a new fermented caprylyl series to improve the skin. The exciting new range comprises BeautiFerm Healerine and BeautiFerm Lift products. These innovative products from the firm should help maintain skin health by rebalancing the microbial flora of the skin and also promote skin regeneration.
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Market Dynamics
Driver: R&D investments and new product launches.
The main benefits of continued R & D work include determining new uses for caprylyl glycol. It has become a variable in many applications, and nowadays, it can be found not only in such spheres as the antimicrobial agent for skincare and pharmaceuticals. For instance, research may point to its utility in maintaining the stability of cosmetic formulations or even improving the stabilization of pharmaceutical products. This factor brings more opportunities and potential users of caprylyl glycol, for instance, personal care industries, cosmetics, food industries, and particularly food preservation industries. Further, research and development play a part in creating competitively placed products that can incorporate caprylyl glycol in innovative ways. Scientists can increase efficacy and consumer interest in products formulated with this compound by using new formulations and delivery mechanisms. For instance, new trends in encapsulation technology enable a slow and full release of caprylyl glycol, which has a long-lasting antimicrobial property and enhanced skin hydrating attributes. Innovations in chemistry and materials are one of the ways through which it is possible to develop better skincare creams, serums, and pharmaceutical formulations that will be much more beneficial to the consumer. It also means various manufacturing companies can invest more in their research and development to adapt to the new trends and needs. Over time, consumer-customary tendencies turn toward the higher efficacy of the offered products with health-promoting and sustainable development characteristics. Caprylyl glycol is another ingredient appropriate for the concept of this brand since it is derived from caprylic/capric glycerides, which are fatty acids. To this effect, R & D can aim to foster formulations that adhere to these characteristics, thus capturing the attention of a larger number of consumers and opening up the market. Besides contributing to product development, R&D procedures are also useful in optimizing utilization processes that pertain to caprylyl glycol. These techniques also help to enhance efficiency and reduce cost while keeping quality at optimum levels through streamlining procedures. This aspect works to promote the economic feasibility of using caprylyl glycol in production and assert manufacturers' market power into the market.
Restraint: Environmental concerns.
The chemistry used in making caprylyl glycol involves synthesis methods, which result in emissions and pollution as some of their by-products. For example, some solvents and other chemicals employed in the production of products emit VOCs (volatile organic compounds) and other hazardous compounds. These emissions can be detrimental to the air quality and have links to global climate change. Furthermore, proper handling of waste has to be in mind because such products can pollute soil and water during the removal from the production cycle. In addition, the ultimate disposal of products with caprylyl glycol during their life cycle may present some environmental implications. When not disposed of or utilized effectively, these products threaten the climate by accumulating chemical residues that harm the biosphere and living organisms. For instance, when caprylyl glycol is present in wastewater, it can influence aquatic life, considering it requires adequate treatment before discharge. Also, current regulatory authorities and new pressures from various environmental organizations are focusing on chemical production's negative effects and repercussions on the environment. This aspect covers emission reductions, waste minimization, and enhancing the production facilities' environmental performance. However, high investment in the mechanisms to adhere to these laws will augment the advertisement costs and multiply the factors that hamper the market growth for caprylyl glycol.
Opportunity: Collaborations and partnerships.
Realizations of strategic alignments and partnerships with manufacturers, research institutions, and cosmetic organizations are crucial to harnessing the innovative frontiers and augmenting market grounds. I also learned that when companies engage in such collaborations, one important advantage is that of sharing resources and information. Almost all manufacturers have technical know-how in synthesizing caprylyl glycol and other raw chemicals, whereas some research institutions possess more modern and sophisticated research skills. This aspect stems from the fact that cosmetic companies help with market analysis and consumer research, thus guaranteeing that new products meet the needs and expectations of the consumers in the targeted market. Within this respect, more streamlined and productive methods of carrying out R&D activities can emerge, thus creating outstanding and unique products in the global market. This aspect can be prompted by joint venture formulation between these companies, resulting in the development of unique formulations containing caprylyl glycol. In this way, these partners can investigate additional uses and opportunities of this co-surfactant, for instance, as an opportunity to increase the stability and effectiveness of cosmetic products. It also makes collaboration in research ideal because it can aim at building sustainable production systems, protecting the environment, and meeting set standards in shorter times. Furthermore, developing strategic cooperation can have a noticeable effect on market control. Those companies that have developed sales channels and have recognized brand images are better placed to introduce cheaper and easier cosmetics products into the market. Also, such cooperation may help gain access to new geographical locations or consumer groups, thus expanding the total market. Associating its marketing with well-known brands, manufacturers, and research institutions can also increase its reliability and trustworthiness. Furthermore, combined special promotions can be promoted more frequently for new products, while collaboration can also rationalize marketing and promotions. Activities such as cross promotions, distribution of sets that include products from both firms and having the same tone on the dates of product launches will form a single force in the market that compels consumers to take an interest.
Challenge: Supply chain disruptions.
Political unrest and conflicts make it difficult to transport raw materials and finished products through international borders due to factors such as trade travel, sanctions or instability. Having understood the risks that come with sourcing raw materials or manufacturing plants, political instability in the areas where such materials/production plants are sourced can also interfere with the production calendar and the supply lines. Moreover, natural calamities such as earthquakes, hurricanes, floods and wildfires, which are common in different regions, can greatly affect key structures and facilities that are significant in producing and distributing caprylyl glycol. They pose a risk that manufacturing assets and transportation networks such as roads, ports, and other supply chain nodes can be significantly destroyed, slowing production and distribution. Natural disasters, earthquakes, droughts, fluctuations in supply and demand, and agricultural or industrial disruptions can also influence the actual availability and affordability of raw materials. Moreover, problems in fulfilling the logistical requirements, including transportation troubles like traffic jams, strikes, and port congestion, may emerge. Issues of transport hitches, congestion at the ports, or a shortage of shipping containers can slow down the overall distribution of caprylyl glycol among the manufacturers as well as among the distributors and the users. Besides, labour strikes regarding certain vital transport sub-sectors like trucks, sea, or rail transport often stop the flow of goods, thus adding to disruptions.
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Some of the major players operating in the global Caprylyl Glycol market are:
• Ashland
• BASF SE
• Clariant AG
• Dow
• Evonik Industries AG
• Inolex, Inc.
• Krishana Enterprises
• Lotioncrafter
• Lonza Group Ltd.
• Proto Chemicals Industries
• Symrise
• Thor Personal Care
Key Segments cover in the market:
By Type
• Cosmetic Grade
• Industrial Grade
By End-use
• Chemical Intermediate
• Personal Care & Cosmetics
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion) and volume (Tons). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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