Global Ethylhexyl Cocoate Market: Overview
Also known as coconut oil, Ethylhexyl Cocoate is a personal care ester consisting of a mixture of fatty acids obtained from the dried inner flesh of coconuts. It is a common ingredient in many cosmetics and other personal care products as it acts as an emollient, acting to soften dry or rough skin and enhance its appearance.
In an increasingly outgoing global population, a sound cosmetic appearance is paramount for. In the year 2018, sales in cosmetics industry grew by an approximate 5.5 percent compared to the previous year. Hence, one finds a flourish in the cosmetic industry, and riding this wave of personal upkeep and maintenance is the Global Ethylhexyl Cocoate Market, which is set to witness increased growth over the forecast period of 2020 to 2030, notes Transparency Market Research in its upcoming market report.
Global Ethylhexyl Cocoate Market: Competitive Landscape
The Ethylhexyl Cocoate Market has a large number of manufacturers marking its vendor landscape, making it fragmented and competitive.
The major players operating in the global ethylhexyl cocoate market are -
- Brenntag Nederland BV
- Eucerin (Beiersdorf)
- A&A Fratelli Parodi Spa
- Mosselman SA
- Independent Chemical Corporation
These players adopt various strategies to increase market outreach and penetration, such as mergers and acquisitions and a keen focus on research and development.
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Global Ethylhexyl Cocoate Market: Key Trends and Drivers
Ethylhexyl cocoate market is growing at a significant rate due to growing healthcare concerns among an increasingly health conscious population. Also, with an increasing amount of disposable income now present with people, the cosmetic industry is set to create demand for ingredients such as ethylhexyl cocoate. A glimpse into growth factors is provided below:
- Contributions of skin care and cosmetics towards growth in the market are improving, owing to adversely changing environmental conditions, such as an increasing level of pollution. Growth in use of moisturizers and emollients has thus been observed to fight such factors that are having a negative impact on skin. This is pushing demand for ethylhexyl cocoate as a cleansing agent.
- Ageing population is a significant growth propeller in the global ethylhexyl cocoate market. This is leading to higher demand for skin care products, leading to increase in growth in the ethylhexyl cocoate market over the forecast period. It is predicted that by 2050, about 2 billion people in the world will be aged 65 and over.
Global Ethylhexyl Cocoate Market: Regional Analysis
Europe contributes to a large share of the total Ethylhexyl Cocoate Market. North America followed Europe in terms of market share. On a national basis, United States is the biggest cosmetic market in the world. It does not come as a surprise considering that people are more aware and disposable incomes are high. Besides, even in the North American region as a whole, presence of strong players is remarkable.
Increasing income levels in developing countries, particularly in those of Asia Pacific region, are pushing the cosmetics and personal care industry on an upward growth curve. It is pertinent to note here that Asia Pacific is anticipated to be the highest growing market in terms of volume and value and is expected to acquire a leading position in the market over the next few years. Leading economies in Asia Pacific such as India and China are expected to create great opportunities of growth for market players.
Middle East and Africa have a very small share in the Ethylhexyl Cocoate Market due to lower penetration of cosmetics and personal care industry.
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