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Humectants Market Size, Share and Forecast 2019-2026

(EnergyIndustry.Net, December 17, 2019 ) Market Overview

Humectants are hygroscopic substances, they possess the inherent ability to bind the moisture present in the food and absorb moisture in the air. This hygroscopic property helps in preventing food from drying out and sugar present in confectionery from crystallization. The potential benefits over usage of humectants as a key ingredient in the processing of food and beverages, cosmetics and pharmaceutical applications include increased shelf life, stability, viscosity, and slow growth in microorganisms. Humectants are often used as a diabetic product due to its sweetness properties and ability to hold the product moist, and visual appearance. It is used in a wide range of food & beverage products which includes fruit & vegetable Juices, processed fruits & vegetables, confectionaries, and bakery products. Increasing demand for organic and high-quality ingredients to restrict the growth of microorganisms and improve the shelf life for bakery and confectionaries are primary factories driving the global humectants market.

The global humectants market is expected to grow at a CAGR of 7.18% in the forecast period (2019-2026).

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Market Dynamics:

Increasing demand for high-quality preservative ingredients from food and beverage companies to increase the shelf life of processed foods is the primary factor driving the global humectants market. Changing environmental conditions and increased awareness among the communities regarding skin & hair health led to a significant increase in consumer demand for personal and skincare products. Increasing production of confectionaries, military rations, and personal care products associated with the growing usage of humectants as a binding agent is expected to boost the consumption of humectants globally during the forecast period. It is used as a moisturizing ingredient in the production of cosmetics, skin & hair care products. The benefits associated with humectants as an ingredient in skincare formulation such as moisturization, exfoliation, modification of skin feel and its ability to improve freeze stability of oil in water emulsion. Moreover, increasing food regulations to maintain the freshness in processed food products is further expected to boost the demand for humectants globally during the forecast period.

However, the availability of alternatives and stringent regulations over the usage of humectants in foods are major factors hindering the growth of the humectants market globally during the forecast period.

Market Segmentation

The global humectants market is segmented based on product into food & beverages, personal care, pharmaceuticals, and others.

Food & beverages are predicted to grow at a higher pace in the global humectants market during the forecast period owing to the growing usage of humectants as a key stabilizing agent in the manufacturing of processed food products which includes bakery and confectionery industry. Humectants are used as stabilization of food products and extends the shelf life through food and moisture control. These ingredients majorly used in the processing of cookies, toothpaste, military rations, confectionaries, and others. Some of the key humectants used in the food and beverage products include non-ionic polyols such as sucrose, glycerin or glycerol and its trimester.

Geographical Presentation

By region, the global humectants market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa.

Europe is expected to dominate the global humectants market owing to the high presence of the processed food industry and increased consumer interests towards cosmetic and personal care products. Changing diet and food habits and increased preferences among the consumers towards convenience food is further expected to boost the global humectants market in Europe during the forecast period. Additionally, growing consumption of bakery and confectionery products and the significant increase in the utilization of humectants as a key ingredient in production activities to maintain freshness is contributing to the growth of humectants across Europe during the forecast period.

Competitive Analysis

The global humectant market is currently undergoing advanced technological innovation in the production process of various humectant products to decrease capital investment and electrical consumption.

In October 2019, Evonik Industries AG and Dow Chemical Company jointly developed the industrial-scale direct synthesis of propylene glycol from propylene and hydrogen peroxide to cater to growing industrial demand for glycol as a de-icing agent and foot additive globally during the forecast period.

Some of the key players in the global humectants market include The Lubrizol Corporation, Cargill Incorporated., Archer Daniels Midland Company, Ingredion Incorporated, and others.

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