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Emollient Esters Market size is forecast to reach $546.97 million by 2025, after growing at a CAGR of 5.41% during 2020-2025. Emollient is a common ingredient used in personal care formulations. Emollients are elements that impart a soft or smooth effect to the skin. Emollients are multifunctional ingredients that offer numerous benefits to the users, such as moisturizing and enhancing the texture of hair and skin, reducing skin blemishes and wrinkles, supplementing cell count, thickening anhydrous water in oil and oil in water formulations, while acting as an active solvent at the same time. The growth of emollient esters market is primarily driven by the growing end-user such as skin care, hair care, Cosmetics, and oral care.
By Product – Segment Analysis
Isopropyl Myristate segment held a significant share in emollient esters market in 2019. Isopropyl myristate is mostly used in skin care products as skin conditioning emollients. It is a vital cosmetic ingredient and offers a soft feeling to the skin and is therefore preferred by different personal care product manufacturers. One of the important applications is in bath oil formulations. Caprylic/capric triglyceride is a mixed triester derived from glycerin and coconut oil. It is in oily liquid form which quickly penetrates the surface to condition the hair or skin and provides a non-greasy light-weight barrier of lubrication. It also helps in enhancing the delivery of vitamins and other active ingredients contained in the solution so that they are fully absorbed and evenly spread by the epidermis.
Myristyl myristate is an ester derived from natural vegetables that utilizes only myristic fatty acids. It is used as a co-emulsifier due to its emulsion stabilizing benefits. It imparts a pleasant and soft powdery feel to the skin. Cetyl palmitate contains naturally occurring fatty acids such as cetyl alcohol and palmitic acid found in plants and animals. It lubricates and conditions the skin and makes it appear smooth and soft. C12-15 alkyl benzoate is an ester of benzoic acid. It provides a light conditioning and silky after-touch to the hair and skin.
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By End-User – Segment Analysis
Skin care segment held a significant share in emollient esters market in 2019 growing at a CAGR of 5.56% during the forecast period. This growth is mainly attributed to the increasing demand of emollient esters in moisturizers, anti-aging skin products, and sun care products. Fatty esters like isopropyl myristate are mostly preferred for skin care products. Apart from skin care products, there is a huge demand for emollient esters among other end users, such as hair care, cosmetics, and oral care. It offers multi-functional properties, for instance, it offers excellent spread ability on the skin. The skin care segment accounted for major share of the emollient esters market, followed by the hair care segment. This is a result of the increasing exposure of people to personal hygiene, grooming, and care.
However, due to recent outbreak of coronavirus the first-quarter sales of cosmetics industry have been weak, and there have been widespread store closures. In China, the industry’s February sales fell up to 80 percent compared with 2019. In March, the year-on-year decline was 20 percent—a rapid rebound under the circumstances. Some beauty-product brands and retailers with inventory and shipment operations ready to scale up are reporting e-commerce sales twice as high as their pre-COVID-19 levels.
Geography- Segment Analysis
Asia Pacific dominated the emollient esters market with a share of more than 38%, followed by North America and Europe. Factors such as changing lifestyle, growing consciousness for personal hygiene and increase in purchasing power of people for cosmetics & personal care products in emerging countries are expected to drive the growth of emollient esters market during the forecast period. Rapid growth in the population and urbanization along with an increase in the disposable incomes are factors that are positively influencing the market growth. The presence of multinational companies and increasing amount that is spent on the beauty & personal care products in the North America region are factors that are fueling the growth of the market. European countries are showing considerable market growth owing to the factor that there are some division of the population in this region which is more inclined towards anti-wrinkles lotions, sun protection creams, and anti-aging creams.
Drivers – Emollient Esters Market
Increasing usage in various end use industries
Emollient esters offer numerous sustainable properties to the personal care formulations and also assist in solving complex problems during the manufacturing of cosmetic products. Hair-care and skin-care products are in high demand in the personal care industry; this is anticipated to foster the market growth. Increasing aging population and rising use of cosmetic products among young generation are factors that are responsible for the fast growth of the personal care industries. Many suppliers and chemical manufacturers are rapidly fulfilling the swift demand for emollient ingredients in oral care, hair, skin, and others. Men’s grooming market also records a healthy market growth which in turn influences the global emollient ester market to a great extent. Expansion of bio-based and natural personal care products and beauty products will encourage the emollient esters market in the coming years.
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Challenges – Emollient Esters Market
Stringent regulations
Stringent labeling rules for cosmetic ingredients and availability of cheaper and greener substitutes of emollients are some of the challenges which may restrict the growth of the emollient esters market. Moreover, the strict regulations and compliance across the regions and countries, limits the emollient ester market to some extent since the chemical ingredients manufacturers/suppliers have to provide accurate data and evidence from where the ingredients are sourced.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the emollient esters market. In 2019, the market of emollient esters has been consolidated by the top five players accounting for xx% of the share. Major players in the emollient esters market are Lubrizol Corporation, Stepan Company, Ashland Inc., Innospec Inc., Croda International Plc, Lonza Group Ltd, BASF SE, Evonik Industries AG, among others.
Geographical Expansion/ Product Launch
In June 2017, BASF inaugurated a new plant for emollients and waxes today in Jinshan, Shanghai. The CNY 150 million project (approximately €20 million) is BASF’s largest investment in emollients production in Asia Pacific.
In August 2014, Lonza launched a new Lonzest™ DC Emollient Ester that offers superb spreadability on the skin and excellent skin-conditioning properties that will benefit personal care formulators.
Key Takeaways
New product developments and increasing investments in research and development of green emollients are expected to drive the growth of this market.
Among end users, skin care segment is projected to lead the emollient esters market during the forecast period.
Asia Pacific dominated the emollient esters market.
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