According to Fact.MR’s Study, The global emollient esters market is anticipated to evolve rapidly at a CAGR of 7.2% from 2023 to 2033. The market stands at US$ 310 million in 2023 and is thus expected to reach US$ 620 million by 2033-end.
Emollient Esters Market Drivers:
- Emollient Esters are commonly adopted in the personal care sector due to the sensory experience they provide. Also, these are used for various applications such as enhancing skin texture, minimizing moisture loss, and other uses
- Rapid growth in the men’s personal care industry is boosting the demand for emollient esters. Moreover, the rise in the growth of halal beauty products and bio-based personal care products has contributed to the adoption of the products.
- Rising awareness for personal grooming is expected to offer lucrative opportunities for plant-based emollient ester manufacturers during the forecast period.
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- Consumers are inclined towards green emollients. Cosmetic and personal care products based on naturally derived ingredients are growing fast since consumers are now more aware of the role and responsibility of each individual in promoting sustainability. For instance:
- BASF had launched the sustainable cosmetic ‘Emollient Maestro’. BASF’s initiative is to raise the bar for the smart development of sustainable, high-performing personal care products.
- Clean label ingredients are trending in the personal care sector. Various personal care companies are launching clean-label ingredients to gain higher traction in the market. For instance:
- Symrise’s cosmetic division had expanded its line-up of multifunctional ingredients with the launch of protective emollient Hydrolex E for clean label personal care
- Labelling rules and regulatory compliances are stringent and differ by region. Also, chemical ingredient manufacturers must provide the right data and documentation regarding the location of the chemical sources. The market also faces restraint due to the availability of various alternatives in the market.
- Asia Pacific holds a substantial share of the global emollient esters market due to various factors such as a rise in disposable income and urbanization. Also, growing beauty consciousness among customers will contribute to regional market growth.
- By region type, North America is offering lucrative opportunities due to the significant presence of various leading personal care companies such as Johnson & Johnson, Revlon Inc, Kimberly Clark, etc. Other factors such as the rise in per capita spending of consumers for beauty and personal care products in North America are expected to contribute to the growth of the market.
- In the meanwhile, the Europe market is expected to witness a moderate CAGR due to the significant presence of old-aged consumers and their inclination towards anti-wrinkles, sun-protection creams, and anti-ageing creams.
Key Recent Developments:
- Key skincare players are debuting new innovations in the market. The skincare market has witnessed a change in consumer behaviours and this has led to a change in the outlook of the key players also. For instance,
- In 2022, Japanese Giant, Shiseido debuted new innovations in the second half of 2022 as a response to the recent changes in consumer behaviours.
- Players in the cosmetics sector are focusing on ingredients that are derived from renewable raw materials as an alternative to those of petrochemical origin. This is one of the goals for the ingredients industry to be competitive in this new market scenario.
- BASF had announced innovation partnership with RiKarbon on emollients derived from bio-waste. This partnership involves successful R&D activities of RiKarbon Inc for new green emollients from bio-waste for personal care formulations.
- BIOSYNTHETIC® TECHNOLOGIES launched a new high-performance 100% biobased emollient for cosmetic and personal care applications.