Distilled Fatty Acids Market Size

Distilled Fatty Acids Market size was valued at USD 18.96 Billion in 2023 and is anticipated to cross USD 44.59 Billion by the end of 2036, registering more than 6.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of distilled fatty acids is estimated at USD 20.12 Billion. The growth of the market can be attributed to its growing use in cosmetic as an emulsifier or emulsification. Emollient fatty acids improve skin hydration by retaining the moisture in the skin and lowering evaporation into the environment. Whereas, the emulsification abilities of fatty acids act as a thickening factor for skin care products. Hence they are extensively used in cosmetic products. Additionally, since the cosmetics industry places a greater emphasis on quality, it makes sure that its products are of the finest quality, satisfy the needs of the customer, and have no negative consequences. As a result, the growing emphasis on cosmetic items' quality enhancement is drawing in both male and female customers. Around 70% of South Korean men reported using lotion in 2021. In that year, men used an average of 6 cosmetic and beauty items.

In addition, the majority of the cosmetic industry use natural substances obtained from plants in the production of their goods owing to its growing preference. Nearly 39% of American consumers believe that organic personal care and cosmetics goods are healthier than conventional personal care and cosmetics products. As a result, about 27% of men and approximately 21% of women in the country would primarily use organic skin care products. Further, growing prevalence of skin cancer is estimated to boost the demand for sunscreen, hence also anticipated to drive the market growth. The majority of skin malignancies are brought on by excessive UV (ultraviolet) light exposure. According to the World Health Organization, over 1.5 million skin cancer cases were diagnosed worldwide in 2020, and over 120 000 fatalities owing to skin cancer were recorded. Additionally, every year, more than 79,000 new cases of skin cancer are found in Canada. Since UV radiation is thought to cause about 70%-90% of skin cancers, the utilization of sunscreen — that filters ultraviolet radiation — is touted as an essential way to prevent skin cancer.