Caprylyl Glycol Market Share, Size, Trends, Industry Analysis Report, By Application (Haircare Products, Skincare Products, Toiletries, Makeup and Color Cosmetics, Others); By End-Use; By Region; Segment Forecast, 2024 - 2032
- Published Date:Feb-2024
- Pages: 118
- Format: PDF
- Report ID: PM4497
- Base Year: 2023
- Historical Data: 2019-2022
Caprylyl glycol market size was valued at USD 1.55 billion in 2023. The market is anticipated to grow from USD 1.64 billion in 2024 to USD 2.69 billion by 2032, exhibiting the CAGR of 6.3% during the forecast period
Caprylyl Glycol Market Overview
The caprylyl glycol market growth is driven by the expanding usage in numerous industries such as pharmaceuticals, cosmetics, and personal care. Caprylyl glycol also provides emollient, antimicrobial properties, and moisturizing. The increasing awareness related to grooming and personal hygiene is driving the growth of the market.
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Caprylyl glycol is a liquid additive commonly used in pharmaceutical, cosmetics, and personal care products. It comes from caprylic acid, a fatty acid found in palm oil, coconut oil, and certain animal fats, and is classified as an alcohol. Caprylyl glycol is a versatile component used primarily for preservation and stabilization in cosmetics and personal care products. It also has emollient properties, which help to keep the skin hydrated and soft.
The presence of a diverse range of brands and products on the market, such as shower and bath essentials oral hygiene items, beard maintenance products, and oral hygiene items, is driving the growth of the market. As a result, the surge in demand is increasing the use of ingredients in hygiene product manufacturing processes.
Caprylyl glycol plays an important role in the pharmaceutical industry, where it is used as a component in ointment bases, drug delivery carriers in suppositories, capsule and tablet binders, and liquid prescription formulations. It also plays an important role in various veterinary drug preparations. Leather, plastics, resins, paper, ceramics, glass, rubber, petroleum, and metal industries all benefit from caprylyl glycol's versatility in a variety of applications.
Caprylyl glycol plays a versatile role in the personal care industry, commonly incorporated into formulations like lotions, creams, serums, cleansers, shampoos, and conditioners. Recognized for its moisturizing capabilities, it effectively draws and locks in moisture for a more supple and smoother texture in both skin and hair. Additionally, caprylyl glycol serves as a stabilizing agent, elevating the efficiency and lifespan of formulations by impeding the proliferation of microorganisms. Often combined with other preservatives, it produces a synergistic effect, enabling the use of lower amounts of traditional preservatives while preserving the overall integrity of the product.
Caprylyl glycol, also known as 1,2-Octanediol, is a versatile compound widely used in the chemical industry as a key intermediate owing to its diverse range of properties and applications. This colorless liquid, with a subtle aroma, dissolves in water and the majority of organic solvents. Caprylyl glycol has recently gained popularity due to its multifaceted properties and ability to improve the efficacy of a variety of products.
Caprylyl glycol can kill or inhibit the growth of microorganisms such as bacteria, viruses, protozoans, and fungi. This property makes it an important component in cosmetic and personal care products, as well as pharmaceutical formulations. Caprylyl glycol, a common preservative in cosmetic and personal care products, plays an important role in extending their shelf life while also ensuring their safety and effectiveness.
The COVID-19 pandemic has had a significant negative impact on the caprylyl glycol market. With widespread lockdowns, supply chain disruptions, and reduced consumer spending on non-essential products, demand for cosmetic and personal care items decreased during the pandemic's early stages. This, in turn, affected the caprylyl glycol market development, as manufacturers reduced production in response to lower demand. As the global economy gradually recovers, the caprylyl glycol market is expected to rebound. Still, the pace of recovery may vary across regions depending on the ongoing impact of the pandemic and related economic factors.
Caprylyl Glycol Market Dynamics
The increasing demand for the skincare products is driving the growth of the market
The rising demand for skincare products is driving caprylyl glycol market growth. As people prioritize their skincare routines and overall well-being, the demand for effective and safe ingredients has increased. Caprylyl glycol, known for its multifunctional properties as a moisturizing and antimicrobial preservative, has become a popular ingredient in many skincare formulations. Its ability to enhance the texture of products while increasing their shelf life makes it a popular choice among cosmetic manufacturers. With an emphasis on self-care and a growing awareness of the importance of skincare, the market for caprylyl glycol is on the rise, fueled by an ever-expanding range of skincare products catering to a variety of consumer needs. As the beauty and personal care industries evolve, the market is poised for long-term growth, meeting the needs of a growing skincare-conscious consumer base.
The increasing popularity of natural cosmetics facilitating the growth of the market
The surging popularity of natural cosmetics is driving the growth of the market. Consumers are becoming more aware of the potential long-term effects of synthetic chemicals on their skin and the environment, which is driving their preference for natural alternatives. Natural cosmetics with caprylyl glycol as a key ingredient are gaining popularity due to their perceived health benefits and sustainability. This shift in consumer behavior reflects a broader trend toward cleaner and greener beauty options, indicating a need for cosmetic formulations that prioritize efficacy and environmental consciousness. As the natural cosmetics market grows, caprylyl glycol will play an important role in meeting the changing expectations of discerning consumers looking for a harmonious blend of skincare efficacy and natural goodness.
High cost associated with the natural ingredients hampering on the growth of the market
The huge cost of natural ingredients hindering the growth of the market. The sourcing and extraction of these natural components has become more expensive, raising overall production costs. This increase in expenses not only affects manufacturers' profit margins but also results in higher prices for end consumers. As a result, the market's growth is declining as businesses find it difficult to balance product quality and affordability.
Market participants are compelled to investigate alternative solutions and innovations to mitigate the impact of the high cost of natural ingredients on both production and consumer access. Addressing these challenges is critical to the market's continued growth and relevance in the cosmetics and personal care industries.
The market is primarily segmented based on application, end-use, and region.
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Caprylyl Glycol Market Segmental Analysis
By Application Analysis
- The skincare products segment accounted for the largest caprylyl glycol market share in 2023. Rising consumer interest in a variety of skincare products, such as creams, lotions, peels, and face masks, is driving demand for skincare products. Cosmetic preservatives are essential for extending product shelf life, providing hydration, and protecting against UV rays, dirt, and humidity. The increasing consumer awareness of the harmful effects of ultraviolet radiation, which can cause a variety of acute and chronic illnesses as well as dermatological health concerns, is a key driver of caprylyl glycol market growth.
By End-Use Analysis
- Based on end-use analysis, the market has been segmented on the basis of pharmaceuticals, cosmetics and personal care, industrial, and others. The personal care & cosmetics segment accounted for the largest revenue share in the market. Caprylyl glycol is a versatile ingredient, serving as a humectant, emollient, and skin conditioning agent, delivering numerous advantages across a range of skincare and haircare formulations. Its widespread application as a preservative enhancer, emollient, and hydrating agent is attributable to its remarkable skin compatibility and antimicrobial attributes.
Caprylyl Glycol Market Regional Insights
North America dominated the market with largest revenue share in 2023
North America dominated the caprylyl glycol market. Humectants, emollients, and preservatives are used in personal care and cosmetic products in North America, which has led to their widespread adoption. These ingredients play an important role in preserving moisture, improving texture, and extending the shelf life of products. Furthermore, in North America's vast pharmaceutical industry, these ingredients are used in a variety of products, including ointments, capsules, tablets, and liquid medications.
In North America, the increasing preference of consumers towards natural and organic personal care items is fueling a surge in caprylyl glycol market demand. Manufacturers are proactively formulating products devoid of harmful chemicals. Caprylyl glycol, recognized for its safety and effectiveness, is gaining traction in line with this preference. Additionally, there is a growing demand for disinfectant wipes and spray in the region, particularly in the initial phases of the COVID-19 pandemic, where antimicrobial features are valued.
Asia Pacific has witnessed the fastest growth in the caprylyl glycol market due to increasing disposable income and changing lifestyles. The demand for organic and natural cosmetics is on the rise, which creates a substantial opportunity for the caprylyl glycol market manufacturers. Also, the region has a large population, which drives the demand for personal care and cosmetic products.
The market is characterized by intense competition, with established players relying on advanced technology, high-quality products, and a strong brand image to drive revenue growth. These companies employ various strategies such as research and development, mergers and acquisitions, and technological innovations to expand their product portfolios and maintain a competitive edge in the market.
Some of the major players operating in the global market include:
- BASF SE
- Clariant AG
- Evonik Industries AG
- Inolex, Inc.
- Lonza Group Ltd.
- Thor Personal Care
- In April 2021, Ashland acquired Schulke & Mayr GmBH's personal care business. This strategic move is poised to bolster Ashland's standing in the specialty additive sector and fortify its consumer business portfolio. Additionally, the acquisition is foreseen to contribute to the thriving growth of both household and personal care business units.
- In November 2020, Chemipol introduced a new product line called SENSICARE C 2060, which has antimicrobial properties designed to protect cosmetic formulations. This announcement aims to strengthen the product portfolio in response to increasing demands in the field of cosmetic formulations.
The Caprylyl Glycol Market report emphasizes on key regions across the globe to provide better understanding of the product to the users. Also, the report provides market insights into recent developments, trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.
The report provides detailed analysis of the market while focusing on various key aspects such as competitive analysis, application, end-use, and their futuristic growth opportunities.
Caprylyl Glycol Market Report Scope
Market size value in 2024
USD 1.64 billion
Revenue forecast in 2032
USD 2.69 billion
6.3% from 2024 – 2032
2019 – 2022
2024 – 2032
Revenue in USD billion and CAGR from 2024 to 2032
By Application, By End-Use, By Region
North America, Europe, Asia Pacific, Latin America; Middle East & Africa
Report customization as per your requirements with respect to countries, region and segmentation
The caprylyl glycol market size is expected to reach USD 2.69 Billion by 2032
Ashland, BASF SE, Clariant AG, Dow, Evonik Industries AG, Inolex, Inc. are the top market players in the market
North America region contribute notably towards the global Caprylyl Glycol Market
Caprylyl glycol market is exhibiting the CAGR of 6.3% during the forecast period
The Caprylyl Glycol Market report covering key segments are application, end-use, and region