Cetyl Esters Market size was over USD 363.65 Million in 2023 and is set to exceed USD 597.98 Million by the end of 2036, growing at over 3.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of cetyl esters is evaluated at USD 376.41 Million. The rising application of cetyl esters in color cosmetics and beauty products is anticipated to bring lucrative growth opportunities for an increment in revenue share in the upcoming years. The beauty industry was worth USD 510 Billion in 2021 and is projected to reach almost USD 715 Billion by 2025.
The growth in the global cetyl esters market revenue is owing to its application in personal care products. Cetyl esters have aromatic properties and can work as an emulsifier which makes it an ideal product for such products.
Growth Drivers
Challenges
Rising Concern about Side-Effects of Excessive Use – High-usage products made with a mixture of cetyl ester on an everyday basis can cause skin irritation and allergies. This could hamper market expansion in the next few years.
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
3.9% |
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Base Year Market Size (2023) |
USD 363.65 Million |
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Forecast Year Market Size (2036) |
USD 597.98 Million |
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Regional Scope |
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Application (Cosmetics, Cleaning Products, Pharmaceuticals)
The cosmetic segment in the cetyl esters market is attributed to holding the largest revenue during the projected timeline and gaining 36% of the market share, owing to the rising beauty standards across the world and most of the global people being shifted towards beauty products and cosmetics products. Also, growing stress levels about looks and appearances among teenagers are anticipated to rise the demand for cosmetic commodities and cetyl ester for its production.
Source (Natural, Synthetic)
The natural source segment is poised to generate more revenue than synthetic sources in the forecasted timeline and holds a 58% market share due to the rising demand for natural products that are not harsh on the skin. Also, the production of natural cetyl ester is cost-effective and requires short production cycles which propels the manufacturers to shift towards producing cetyl ester from natural sources.
Our in-depth analysis of the global market includes the following segments:
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Product |
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Source |
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Application |
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North American Market Forecast
The cetyl ester market in North America is estimated to be highest by 2036 with a market share of 35%. The rising investments in research and development activities for introducing high-quality cetyl ester by the United States government and key players are considered to be the primary factor for the expansion of market value in the region.
Furthermore, the presence of production facilities for manufacturing cetyl ester along with the availability of sufficient funds with manufacturers is also anticipated to create a positive outlook for aiding a robust market revenue generation shortly.
APAC Market Statistics
The Asia Pacific cetyl ester market size is estimated to garner the largest share of 24% by the end of 2036. The burgeoning population demanding cosmetic and personal care products in developing countries, especially, Japan, India, and South Korea is propelling the production rate of cetyl ester in the next few years. The growth in the end-use industries of the region owing to rapid industrialization is poised to bring growth opportunities for market expansion.
Author Credits: Rajrani Baghel
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