Overview and Scope
Caprylyl glycol is a cosmetic ingredient that serves as a humectant, moisturizer, and preservative enhancer in skincare and personal care products. It is a type of alcohol derived from caprylic acid, which is naturally found in coconut and palm oils. Caprylyl glycol helps to keep products stable, prevents microbial growth, and can also impart a silky, smooth feel to the skin.
Sizing and Forecast
The caprylyl glycol market size has grown strongly in recent years. It will grow from $1.47 billion in 2023 to $1.59 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to rising demand for the skincare products, growing demand for organic cosmetics, increasing demand for natural preservatives, demand from end-use industries, expanding beauty and personal care industry.
The caprylyl glycol market size is expected to see strong growth in the next few years. It will grow to $2.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increasing popularity of natural cosmetics, rising awareness of product safety, rising popularity of clean beauty, benefits of using caprylyl glycol in various applications, increasing demand for skincare treatments. Major trends in the forecast period include expansion in emerging countries, increase in production capacity, technological advancements in caprylyl glycol, innovation in formulations, focus on ethical and sustainable sourcing.
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Segmentation & Regional Insights
The caprylyl glycol market covered in this report is segmented –
1) By Type: Cosmetic Grade, Industrial Grade
2) By Application: Haircare Products, Skincare Products, Toiletries, Makeup And Color Cosmetics, Other Applications
3) By End-Use: Pharmaceuticals, Cosmetics And Personal Care, Industrial
North America was the largest region in the caprylyl glycol market in 2023. The regions covered in the caprylyl glycol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Growing demand for natural and organic cosmetics is expected to propel the growth of the caprylyl glycol market going forward. Natural and organic cosmetics refer to beauty and personal care products formulated with natural ingredients and produced without synthetic chemicals, artificial preservatives, or genetically modified organisms (GMOs). The demand for natural and organic cosmetics continues to surge as consumers prioritize clean, sustainable, and environmentally friendly products. Natural and organic cosmetics use caprylyl glycol, as a skin-conditioning agent derived from renewable sources such as coconut oil, due to its multifunctional properties, including its ability to moisturize and preserve products. For instance, in March 2022, according to the annual organic beauty and wellbeing report by the Soil Association, a UK-based charity organization, in 2021, the sales of Soil Association-certified organic and natural beauty and wellbeing products in the UK experienced a 15% growth, reaching around $170 million. Therefore, the growing demand for natural and organic cosmetics is driving the development of the caprylyl glycol market.
Key Industry Players
Major companies operating in the caprylyl glycol market are Archer Daniels Midland Company, BASF SE, Dow Inc., LyondellBasell Industries N.V., Merck KGaA, Evonik Industries AG, DuPont de Nemours Inc., Huntsman Corporation, Avantor, Lonza Group AG, Lubrizol Corporation, Clariant AG, Symrise AG, Croda International Plc, Ashland Global Holdings Inc., Innospec Inc., Galaxy Surfactants Ltd., Thor Specialties, Schulke & Mayr GmbH, Spectrum Chemical Manufacturing Corp., Colonial Chemical Inc., Hallstar Company, INOLEX Inc., Floratech, Tri-K Industries Inc., Lotioncrafter LLC, The Good Scents Company, Pilot Chemical Company
The caprylyl glycol market report table of contents includes:
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