Skin hydration is in, and humectant ingredients are hot.
According to a recent study by Allied Market Research, the global humectants market was worth $17.8 billion in 2016 and is projected to reach $29.5 billion by 2023, with a Compound Annual Growth Rate (CAGR) of 7.2 percent from 2017 to 2023.
Humectants, which absorb moisture from the air into the skin using natural and synthetic sources, help to keep skin hydrated. And while most manufacturers use synthetic humectants due to their low cost, these do not contain real nutrients and, over time, can damage skin. Natural humectants, however, help attract water to the surface of the skin, deliver hydration and nutrients to deeper layers of skin and allow skin to keep itself hydrated for longer periods of time. (Natural humectants include aloe, honey, hyaluronic acid and glycerin—to name a few.)
Thanks to humectants’ ability to extend product shelf life, retain moisture and increase products’ effectiveness, demand has increased in recent years. However, since several humectants are derived from petroleum products, the volatility of crude oil prices could hamper the global market’s growth.
Humectants’ blossoming food and beverage segment occupied more than one third of the global market in 2016 thanks mostly to sugar alcohols, which are a popular choice for dieting customers who prefer sugar-free, lower-calorie foods. In 2016, North America dominated the humectants industry—accounting for nearly half of the entire market. The sugar alcohol segment contributed the maximum revenue.
Between now and 2023, the oral and personal care segment of the humectants market is expected to experience the most growth, with a CAGR of 9.1 percent. Latin America, the Middle East and Africa are projected to be the fastest growing markets, with a CAGR of 12 percent.
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