Sclerotium Gum: Market outlook
The escalating growth for cosmetic and personal care industry and increasing demand for premium cosmetic products is giving rise to the Sclerotium gum Market over the forecast year. Sclerotium gum is a nature-derived, water-soluble polysaccharide produced by the process of fermentation of Sclerotium rolfsii, a filamentous fungus. Sclerotium gum is an extremely multipurpose ingredient, which improves the sensory characteristic of cosmetics and personal care products. Sclerotium gum has rheological properties, and unlike most synthetic and natural gums, is resistant to hydrolysis, has high thermal stability, and preserves skin moisture and thus is widely used in the formulation of cosmetic products. Sclerotium gum is used in abundant cosmetic and personal care products and formulations due to its competence as a potential emulsifier, thickening agent, and stabilizer. The increasing demand for cosmetic and personal care products including hair care, sun care, skin care, color cosmetics, an others is giving rise to sclerotium gum owing to drivers like rising disposable income, growing demand for natural and organic personal care products, growing online retailing, and others.
Global Growth in the Beauty Market is Leading to the Growing Demand for Sclerotium Gum
The sclerotium gum market is expected to witness spurt growth over the forecast period. The increasing number of working individuals across the globe is resulting in increasing consumers spending capacity on cosmetic and personal care, which in turn is leading to rising sales of quality products. The growing sales for cosmetics and personal care products are thus creating demand for sclerotium gum. Sclerotium gum enhances the sensory and qualitative appeal of the cosmetics products due to its properties including sensory improver, thickening agent, moisturizing property, stabilizer, cold-solubility, electrolyte tolerant, foam stabilizer, and sparkling clarity. Besides, consumer inclination to buy clean label personal care and cosmetic products is shifting significantly upwards due to increasing awareness regarding the benefits of natural and organic ingredients. Consumers are gradually opting for clean label products owing to the presence of toxic ingredients in chemical or synthetic products. Sclerotium gum is a naturally derived ingredient used in the cosmetics products thus are witnessing growing demand. Also, personal care and cosmetic products are nowadays readily available to consumers through online retailing. Online retailing has increased product penetration and provided greater accessibility of cosmetics and personal care products to consumers. The increasing online retailing is thus creating demand for more products thus creating demand for cosmetic ingredients like sclerotium gum. Also, aggressive advertising and promotional activities by key players are steadily contributing to the growing cosmetics and personal care market, which in turn is fuelling the demand for sclerotium gum.
Global Sclerotium Gum: Market Segmentation
On the basis of end use, the global sclerotium gum market has been segmented as-
- Hair Care
- Skin Care
- Sun Care
- Color cosmetics
- Bath and shower
On the basis of function, the global sclerotium gum market has been segmented as-
- Emulsion stabilizing
- Skin conditioning
- Viscosity controlling
On the basis of region, the global sclerotium gum market has been segmented as-
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Global Sclerotium Gum: Key Players
Some of the major players of sclerotium gum market include: Univar Inc., BASF SE, Lucas Meyer Cosmetics, Cargill, Inc., Beijing Brilliance Bio, Fitz Chem LLC, Pure Ingredients Ltd, and others
Opportunities for Participants of Sclerotium Gum Market:
The market for sclerotium gum is anticipated to witness a growing demand over the forecast period. North America is expected to account for maximum market share for the sclerotium market. North America cosmetic products market is expected to witness robust growth owing to the high consumer awareness regarding the benefits of natural and organic personal care products in comparison to conventional products. Moreover, the launch of new products is stimulating market growth for cosmetics and personal care products. The increasing demand for cosmetic and personal care products is further creating demand for sclerotium gum which is used in the formulation of these products. Thus North America is expected to account for maximum market share for sclerotium gum. Besides, the Asia Pacific region is expected to provide maximum growth opportunities to the sclerotium market owing to increasing internet penetration in the region, and rising focus of significant brands on building their digital capabilities has increased online sales of cosmetic products. Therefore, e-Commerce has contributed significantly to the growth of the cosmetic market in the Asia Pacific region which is opening the way for sclerotium gum market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
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- Latin America
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Below is a snapshot of these quadrants.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?