The global humectants market size is expected to reach USD 14.72 Billion and is projected to grow at a CAGR of 5% over the forecast period. Since the demand for natural humectants has increased over the past few years, food manufacturers are able to produce a wider range of food products with fewer natural humectants.
By 2033, the packaging food market and cosmetics market will generate USD 24 billion in sales of the humectants market. Recently, humectants have gained popularity in the food and beverage industry because they prolong the shelf life of products, help to retain moisture, and enhance the effectiveness of products by increasing their function. Due to the increase in food and beverage production, cosmetics and technological advancements, and a change in lifestyle, the global humectants market remains in high demand.
It is anticipated that the market for humectants will continue to grow in coming years as the demand for food & beverage, personal care, and cosmetic products is expected to increase in developed countries such as Europe and North America. As food humectants are helpful to keep the moisture of products, they are a major focus of interest in ready-to-eat meals and snacks. As disposable incomes rise along with a change in lifestyle, Asia Pacific is predicted to be the fastest growing market for cosmetics, which will ultimately drive growth in the humectants industry.
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Key Takeaways from the Market Study
“Surging demand for conventional food and beverage products, as well as an increase in the use of natural ingredients in cosmetics and personal care products, will boost the market in the coming years,” comments an analyst at FMI.
Competitive Landscape
Archer Daniel Midland Company, Ashland Global Holdings Inc., BASF SE, Barentz, Brenntag AG, Cargill Incorporated, Ingredion, Roquette Freres, The DOW Chemical Company.
Strategic partnerships allow manufacturers to increase production and meet consumer demand, which boosts revenue and market share. Utilizing new technologies and products to manufacture that are beneficial to the end user. Strategic partnerships can help companies expand their production capabilities.
Key Segments Covered in the Humectants Market Survey
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