Cocoglycerides are emollients that are used as cosmetics primarily for making the skin soft and smooth. Derived from coconut oil, cocoglycerides are also used as thickeners. The cocoglycerides are safe to be used as the ingredient in various types of cosmetics. Cocoglycerides are a mixture of di, mono, and triglycerides derived from the coconut oil. The primary function of cocoglycerides is its moisturizing benefits of the coconut oil. The emollient also helps in making the skin soft, and smooth in appearance.
Global Cocoglycerides market: Drivers and Restraints
The growth of the cocoglycerides market is primarily driven by the increase in the end-use applications such as skin care, hair care, and cosmetics. Further, the factors such as growing consciousness for personal hygiene, changing lifestyle and increase in the purchasing power of the consumers for cosmetics and personal care products.
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Product Innovation is another major factor driving the global cocoglycerides market. Manufacturers are coming up with innovative products for the target consumers to increase the demand for the particular product. For Instance, the smoothening effects of cocoglycerides are found in two new products i.e. Smooth Affair for Eyes and Mystikol eyeliner. The influx in demand for cocoglycerides has supported the manufacturers in the market to increase their production capabilities along with product innovations, to majorly cater to the exponentially rising demand from the end-users.
Global Cocoglycerides market: Segmentation
The global cocoglycerides market is segmented by an application are into:
- Baby care products
- Bath products
- Eye Makeup
- Eye Lotion
- Fragrance products
- Personal hygiene products
- Skincare products
- Suntanned products
Global Cocoglycerides Market: Segmentation Overview
The global cocoglycerides market is segmented into application and geography. By product, the cocoglycerides are sub-segmented into baby care products, bath products, eye makeup, fragrance products, personal hygiene products, skin care products, and suntanned products. However, the high prices of emollients and cosmetics coupled with the low availability of the raw material is one of the greatest challenges in the global cocoglycerides market. The skin care products can be further sub-segmented into skin cleansing creams, lotions, liquids, face and neck creams, lotions, and powders. Amongst others.
Global Cocoglycerides market: Regional Outlook
Depending on a geographic region’s global cocoglycerides market is segmented into seven broad regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan and Middle East Africa. North America is anticipated to account for the largest share in the cocoglycerides market. The developed nations such as the US, and European Countries are expected to witness growth in the cocoglycerides market. Further, the inclination of the consumers towards the spending on personal care products, cosmetics, and other related products is also expected to surge the demand for cocoglycerides during the forecast period.
The market in Asia Pacific Excluding Japan is anticipated to experience high growth during the forecast period. Further, the increasing spending habits of the consumers in the developing countries such as India and China is further anticipated to propel the demand for cocoglycerides during the forecast period.
Global Cocoglycerides market: Prominent vendors
Some of the players identified across the value chain of the global cocoglycerides market include BASF Company, DeWolf Chemical, COSME ITALY, The Good Scents Company, and Eurobio Lab, amongst others. Few of the strategies adopted by the key players in the market are partnership and collaboration with other operators, expansion into the untapped market, and joint ventures with the organizations in emerging countries to gain the strong foothold in the market. To ensure product differentiation and to acquire a considerable share of the market, major vendors are adopting creative strategies and are constantly developing innovative products.