An emollient is a moisturizing therapy that uses a water-trapping occlusive substance, such as oils or lipids, to help seal moisture into skin cells. Emollients offer benefits such as a skin-conditioning effect and their ability to form uniform, water-resistant, and permeable films. Increasing health and skin concerns among all age groups, as well as the fast rise in cosmetics and beauty product expenditure, particularly by millennials, are likely to fuel the expansion of the global emollient market. Furthermore, according to OMR Research, the worldwide emollient market is expected to reach $1.9 billion by 2028, rising at a CAGR of 3.4% during the forecast period (2022–2028).
Segments of the Market
The global emollients market is segmented on the basis of type and application. Based on type, the global emollient market is segmented based on carbonates, esters, ethers, fatty acids, fatty alcohols, hydrocarbons, silicones, vegetable oils, and mineral oils. Based on application, the market is sub-segmented into skin care, hair care, cosmetics, and others.
Recent Developments
The global emollients market's growth is contributed by players such as Ashland Inc., BASF SE, Clariant International Ltd., Eastman Chemical Co., Evonik Industries AG, Croda International Plc, Dow Chemical Co., Lonza Group, Lubrizol Corp., and Solvay SA, among others. Some of the recent developments in the market include:
• In November 2022, CO2 Plus Co., Ltd. (Hiroshima) introduced a carbonated foam cleaning oil packed with dense carbonated foam and no friction from high-concentration CO2 skincare. The cleansing oil's primary characteristics are that it decreases friction as much as possible and easily and rapidly removes makeup, sebum, old keratin, and other impurities. It includes more than 90% well-balanced rice bran oil and sugar squalane, both of which are easily absorbed by the skin and have an emollient action that softens and smoothes the skin.
• In April 2022, Dow Personal Care launched a new DOWSIL 1686 resin. This liquid phenyl silicone resin offers shine and radiance, contributes to color value, and enables good coverage and moderate wear in personal care applications. The high refractive index shine product has multipurpose benefits, making it ideal for use in color cosmetics, makeup, skincare, and hair care products.
• In January 2022, L'Oréal unveiled CeraVe, which is used to restore and maintain skin barriers for all through efficacy, safety, compliance, and accessibility. CeraVe contains three essential (skin-similar) ingredients: ceramides, cholesterol, and fatty acids that are slowly released over time to help restore skin barrier function.
• In December 2021, BASF invested in a Uvinual A Plus production plant in Asia. With this investment in Asia, BASF enhances the production capacity of specialty UV filters in the region, increases supply security for their customers, and produces a broad range of emollients and specialty cosurfactants for the personal care industry.
• In January 2020, BASF SE launched products named Hydagen, Hydrasensyl, and Inolixir, showcasing multiple ranges of active ingredients in order to demonstrate makeup products with skincare benefits.
Conclusion
Some of the primary reasons driving segment growth in the global emollient market include the increasing usage of emollients in different end-user sectors such as beauty and personal care, as well as an increase in the number of skin and hair-related ailments. Another reason driving the expansion of the emollient market is the increased desire for multipurpose personal care products, particularly among price-sensitive customers. Multifunctional personal care products, such as emollient-based personal care solutions, are used to treat psoriasis, dark circles, wrinkles, acne, eczema, and other skin diseases. Emollients are also being used by vendors to create integrated solutions with various advantages. Due to all the benefits that emollients provide, the market is set to witness new growth opportunities and increased demand in the forecast period.