Caprylyl glycol market is anticipated to grow at a considerable CAGR of 9.5% during the forecast period (2024-2031).Caprylyl Glycol is a versatile compound used primarily as a moisturizer, emollient, and antimicrobial agent in various industries such as cosmetics, personal care, pharmaceuticals, and industrial applications.

Market Dynamics

Growing Demand in Cosmetic and Personal Care Industries

The cosmetic and personal care industries are witnessing a surge in demand for products containing caprylyl glycol due to its versatile ingredient functioning as a moisturizer, emollient, and antimicrobial agent. As consumers increasingly prioritize skincare and personal grooming, the demand for products such as moisturizers, creams, lotions, and shampoos containing caprylyl glycol is on the rise. Additionally, the formulation flexibility offered by caprylyl glycol allows manufacturers to create innovative products tailored to meet evolving consumer preferences, further fueling market growth in these industries. For instance, in April 2022, Symrise announced Hydrolite 8 green, a green cosmetic multifunctional and a 100.0% bio-based caprylyl glycol that enhances product protection, moisturizes the skin, improves the sensorial profile of formulations, regulates viscosity, provides wetting, and many others.

Caprylyl Glycol: A Key Player in Global Net-Zero Emissions Goals

Globally, there is a trend of achieving net zero goals. The caprylyl glycol is considered as a financial tool to reduce carbon emissions by storing carbons for future and later use. Thus, several industries are heavily investing in the caprylyl glycol industry which will support them to achieve net-zero emissions in coming years. For instance, in May 2022, the Panama government and energy companies, including SGP BioEnergy, plan to develop a major,advanced caprylyl glycol to increase the supply of lower-carbon aviation fuel.

Market Segmentation

Our in-depth analysis of the global caprylyl glycol market includes the following segments by type, and application:

• Based on type, the market is sub-segmented into cosmetic grade and industrial grade.

• Based on application, the market is sub-segmented into cosmetics and chemical production.

Cosmetic Grade is Projected to Emerge as the Largest Segment

Based on the type, the global caprylyl glycol market is sub-segmented into cosmetic grade and commercial grade. Among these, the commercial grade sub-segment is expected to hold the largest share of the market. The primary factor supporting the segment's growth includes the increasing consumer demand for skincare and personal care products as it serves as a multifunctional ingredient in cosmetics, offering moisturizing, emollient, and antimicrobial properties. As consumers become more conscious about skincare and seek products that offer both efficacy and safety, cosmetic-grade caprylyl glycol emerges as a preferred choice for formulators and manufacturers.

Cosmetics Sub-segment to Hold a Considerable Market Share

The cosmetics sub-segment holds a considerable market share as it serves as a multifunctional ingredient in cosmetics, offering various benefits such as moisturization, emollience, and antimicrobial properties. Its versatility makes it a desirable component in a wide range of cosmetic formulations, including skincare, hair care, and personal care products.Additionally, the cosmetics industry's constant innovation and product development efforts to meet evolving consumer preferences fuel the demand for caprylyl glycol. Manufacturers are continually introducing new formulations with advanced features and benefits, and caprylyl glycol plays a crucial role in enhancing the performance and stability of these formulations. For instance, in November 2020, Chemipol unveiled its latest product line, SENSICARE C 2060, boasting antimicrobial properties tailored to safeguard cosmetic formulations. This strategic introduction seeks to enhance the company's product offerings, aligning with the growing requirements within the cosmetic formulations sector.

Regional Outlook

The global caprylyl glycol market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). 

Asia-Pacific's Rapid Rise in the Global Caprylyl Glycol Market

The Asia-Pacific region emerges as the fastest-growing market due to rapid economic development and urbanizationthat leads to an expanding middle-class population with increasing disposable incomes that has demand for personal care and cosmetic products, where caprylyl glycol serves as a key ingredient due to its versatile properties. Additionally, Asia-Pacific is witnessing a surge in consumer awareness regarding skincare and hygiene, prompting the adoption of products containing caprylyl glycol for their antimicrobial and preservative functions. The regional burgeoning cosmetics industry, supported by technological advancements and a growing focus on innovation in product formulations is further aiding to the regional market growth.

Global Caprylyl Glycol Market Growth by Region 2024-2031

North America Holds Major Market Share

Among all the regions, North America holds a significant share owing to a confluence of factors that underscore the region's prominence in the cosmetic and personal care industries that is characterized by continuous innovation and product development initiatives. Additionally, consumer preferences for premium and natural products that have propelled the demand for caprylyl glycol. Additionally, these chemicals are known for its safety profile and eco-friendly production processes which is further promoting their adoption across the region.

Market Players Outlook

*Note: Major Players Sorted in No Particular Order.

The major companies serving the global caprylyl glycol market include BASF SE, Evonik Industries AG, DuPont, Symrise, and Clariant amongothers. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in November 2022, Symrise presents SymDiol 68 green – a synergistic combination of green multifunctional cosmetic ingredients. As a synergistic combination, SymDiol® 68 green consists of two 100% green 1,2-alkanediols, caprylyl glycol and 1,2-hexanediol. The high-performance mixture is water soluble and cold processable, and it featuresclear, colorless and nearly odorless characteristics. 

The Report Covers

• Market value data analysis of 2023and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global Caprylyl Glycolmarket. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.