A 6.4% compound annual growth rate (CAGR) is projected for the global naturally derived fatty alcohol market from 2022 to 2032, with 2022 revenues of US$ 2821 Million and 2032 revenues of US$ 5250.82 Million. The heightened demand for personal care products such as soap and detergent that are made from all-natural substances along with increasing consumer awareness of the adverse effects of using petroleum-based fatty alcohols will facilitate the expansion of the naturally derived fatty alcohol market size during the projection period.
The growing sustainability drives and demand for organic products have encouraged many enterprises to invest in the research and development of biodegradable, organically produced products and chemicals that are produced from bio-based raw materials. Additionally, a significant portion of the general population is gradually getting more aware of hygiene and its importance. These aspects work in tandem to ensure the steady growth of the naturally derived fatty alcohol market.
The rising concern regarding the fluctuating prices of petroleum-based goods will also shape the market for naturally derived fatty alcohol market. Again, elevated consideration for the environment and implementation of strict regulations from governmental organizations that address environmental problems also spurs the demand for naturally derived fatty alcohol. The availability of reliable raw materials and the expansion of the same sector is also responsible for the improved prospects of the naturally derived fatty alcohol market.
The surging demand for surfactants like soap and detergents will, in turn, boost the demand for naturally derived fatty alcohol. Surfactants made from fatty alcohol gain extensive application across several industries including food, fiber, and beauty sectors. Since these surfactants serve multiple purposes like wetting, cleaning, solubilizing, and emulsifying, they will witness greater demand in the next couple of years. Thus, with numerous useful qualities, fatty alcohols will observe immense demand. Further, it is estimated that personal care goods like liquid soaps and hand sanitizers will generate high demand for naturally derived fatty alcohols over the assessment period. Other industries like food and beverages, pharmaceuticals, and textile and leather processing also foster growth for the market during 2022 and 2032.
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Key Takeaways:
- Fluctuation and instability of the raw material prices may restrict the growth of the naturally derived fatty alcohol market.
- The personal care and cosmetic sectors will fuel the growth of the naturally derived fatty alcohol market in the Asia Pacific region.
- The naturally derived fatty alcohol market in North America will hold 34.8% of the overall market share.
- Rising demand from the lubricant sector will strengthen market prospects in the Middle East and Africa region.
Competitive Landscape
Prominent market players are focusing on increasing the manufacturing of bio-based products. These businesses employ product innovation and development strategies. A few of these players also engage in diverse organic and inorganic growth strategies to gain a competitive edge.
Musim Mass, Shell Chemicals, Willmar Oleo, BASF, P&G, Sasol, Kao Chemicals, Emery Oleo, Oxiteno, and Jiahua, among others, are some of the significant players in the naturally derived fatty alcohol market profiled in the full version of the report.
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More Insights into Naturally Derived Fatty Alcohol Market
According to the latest FMI reports, based on segmentation, the soap and detergent category along with the personal care segment will contribute considerably to the overall growth of the naturally derived fatty alcohol market. These two application segments will generate greater demand for the market.
Based on region, the naturally derived fatty alcohol market in North America will account for 34.8% market share during the observation period. The target market in this region will demonstrate robust growth. Increasing demand for cleaning products like surfactants and disinfectants. Also, the rising demand for natural products will also aid the growth of the naturally derived fatty alcohol market in North America. Besides this region, Asia Pacific, Europe, and the Middle East and Africa regions will also make notable contributions to the growth of the global naturally derived fatty alcohol market during the projection period.
Key Segments
Sources:
- Tallow
- Lard
- Poultry
- Palm Kernel Oil
- Coconut Oil
- Palm Oil
- Soya Oil
- Sunflower Oil
- Rape Oil
- Honeybee Wax
- Jojoba Oil
- Whale Oil Etc.
Application:
- Cosmetics And Personal Care
- Soap And Detergents
- Pharmaceuticals
- Food & Beverages
- Textile And Leather Processing
- Others
Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa(MEA)
- Europe
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