The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.
They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.
Persistence Market Research (PMR) delivers key insights on the Mannosylerythritol Lipids chemical in its latest report titled, ‘Global Market Study on Mannosylerythritol Lipids: Increasing Usage as Natural Ceramide Substitute to Drive Growth during Forecast Period 2016 – 2022’. Mannosylerythritol Lipids market is projected to register a healthy CAGR of 4.8% in terms of value during the forecast period (2016 – 2022). This is attributed to various factors, regarding which PMR offers detailed insights in its report.
On the basis of end-use industry, the market has been segmented into household detergents, personal care & cosmetics, pharmaceuticals, food, and others. The household detergents segment accounted for over 29.7% value share of the global mannosylerythritol lipids market in 2015 and is expected to register a healthy CAGR similar to that projected for the global mannosylerythritol lipids market over the forecast period. Furthermore, personal care & cosmetics segment accounted for 29.7% value share of the overall market in 2015 and is expected to grow at the fastest CAGR of 5.7% in terms of value, over the forecast period.
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The household detergents segment is sub-segmented into the laundry, dish wash, and others. The laundry sub-segment is expected to grow at the fastest growth rate over the forecast period owing to the rising demand of MEL as a non-toxic alternative to chemical-based detergents. Personal care & cosmetics segment is further sub-segmented into skin care, hair care, and others. The skin care sub-segment is expected to grow at the fastest value CAGR of 6.1% over the forecast period owing to the increasing demand for MEL as a moisturising ingredient in skin care products.
Revenue contribution of pharmaceuticals segment was 23.3% in 2015 and is projected to grow to 24.6% by 2020, witnessing an increase of 130 Basis Point Share and registering a healthy CAGR of 5.6%. The food segment is forecast to witness a steady growth over the forecast period owing to the increasing application of MEL in food processing.
The global mannosylerythritol lipids market has been segmented into five major regions which include North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. Of all the regions, Europe dominated the market with over 32.2% of the overall mannosylerythritol lipids market volume share of in 2015. North America ranked second with 25.9% market volume share in 2015, followed by Asia Pacific. In addition, Asia-Pacific is anticipated to become the fastest growing region in the global mannosylerythritol lipids market.
The growth of the global mannosylerythritol lipids market is mainly driven by rising demand for environment-friendly products, tremendous promise for use in wide range of applications, and the rising demand of MEL as a natural ceramide substitute. Other trends driving the growth of the global mannosylerythritol lipids market include the production of MEL-B using sugarcane juice as the primary carbon source, and customizing the product portfolio more specific to an application.
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This report covers trends driving each segment and respective sub-segments and offers analysis and insights of the potential of the mannosylerythritol lipids market in specific regions. Europe dominated the global mannosylerythritol lipids market with over 34.1% market share in 2015 and is anticipated to remain dominant by 2022. North America and Asia-Pacific collectively accounted for over 47.9% of the total mannosylerythritol lipids market share in 2015. Among all the regions, Asia Pacific is anticipated to register the highest CAGR between 2016 and 2022, followed by Europe and MEA due to increasing awareness regarding bio-based products within this region.
In addition, the key players also focus on expanding their product portfolio through innovative product launch with the objective to enhance customer base. Apart from the above-mentioned strategies, these major players also focus on research and development activities and partnerships with various small-scale MEL manufacturers.
Some market players featured in this report are as follows:
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