Humectants Market 2019-2023 | Evolving Opportunities With Archer Daniels Midland Co. and BASF SE | Technavio
Technavio has been monitoring the global humectants market since 2018 and the market is poised to grow by USD 8.47 billion during 2019-2023, progressing at a CAGR of over 7% during the forecast period.
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Technavio has announced its latest market research report titled global humectants market 2019-2023. (Graphic: Business Wire)
Read the 125-page research report with TOC on "Humectants Market Analysis Report by application (food and beverages, oral and personal care, animal feed, and others) and geography (APAC, Europe, MEA, North America, and South America) and Segment Forecasts, 2019 - 2023".
The market is driven by the rise in the use of synthetic humectants. In addition, the increased demand for humectants from the food and beverage industry is anticipated to further boost the growth of the humectants market.
Synthetic humectants such as glycerin, urea, sodium lactate, butylene glycol, and sorbitol are being widely used in several beauty and personal care products because of their low production cost and longer shelf life. Furthermore, humectants are also being used in food treatment where moist infusion, blending, and dry infusion methods are commonly used to treat foods. Hence, the rising use of synthetic humectants in the food and beverage along with the beauty and personal care industry will be a significant factor boosting the growth of the market during the forecast period.
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Major Five Humectants Companies:
Archer Daniels Midland Co.
Archer Daniels Midland Co. operates businesses under various segments, namely origination, oilseeds, carbohydrate solutions, nutrition, and others. The company offers sorbitol under the humectants category, which is used in the food and beverage industry.
BASF SE
BASF SE provides agricultural solutions, chemicals, functional materials and solutions, and performance products. The company offers humectants in the form of 1,2-propylene, di-propylene, and other chemicals.
Cargill Inc.
Cargill Inc. has business operations under various categories such as animal nutrition & protein, food ingredients & applications, origination & processing, and industrial & financial services. The company offers various humectants such as sorbitol, mannitol, isomalt, and others.
DowDuPont Inc.
DowDuPont Inc. serves customers associated with the food, pharma, home and personal care, and energy markets by providing naturally sourced ingredients and bioscience capabilities. The company offers propylene glycol, which is used in the home and personal care industries.
The Lubrizol Corp.
The Lubrizol Corp. offers unique formulations that improve the performance of products. The company offers humectants that are used in paints and coatings with low volatile organic compound (VOC) emission properties.
Technavio has segmented the humectants market based on the application and region.
Humectants Application Outlook (Revenue, USD Million, 2019 - 2023)
- Food and beverages
- Oral and personal care
- Animal feed
- Others
Humectants Regional Outlook (Revenue, USD Million, 2019 - 2023)
- APAC
- Europe
- MEA
- North America
- South America
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View source version on businesswire.com: https://www.businesswire.com/news/home/20190913005258/en/
