The
global lanolin market is expected to reach USD 227.7
million by 2024, according to a new report by Grand View Research, Inc. Rising
demand in personal care & cosmetics sector is expected to drive industry
growth over the next eight years. The best-known uses of refined wool wax
products, primarily, lanolin and its derivatives are in the field of cosmetics,
medicine and toiletries. Rising disposable consumer income and growing working
women’s population is expected to be a major driver for this industry.
Increasing awareness regarding feminine hygiene and health has also promoted
the adoption of natural products and cosmetics.
Personal
care & cosmetics emerged as the leading application segment and accounted
for over 45% of total market volume in 2015. Cosmetics industry growth across
the globe has resulted in an increasing demand for lanolin owing to its ability
to act as an emollient. The product mostly finds use in skin creams, shampoos,
soap, hair dressing and lip gloss, and offers superior moisturizing properties
for dry skin.
 |
| U.S. Lanolin Market Revenue By Application, 2014 - 2024 (USD Million) |
Lanolin
refining process can be complicated & difficult leading to increased costs.
However, a major issue surrounding industry is the toxic makeup of the
substance, which has led to end-users opting for other alternatives.
Lactic
acid is among the finest bio-based substitutes available along with coconut
oil. It is widely used in skin care creams and lotions to make the skin firmer
and thicker. Coconut oil is gradually gaining importance as a potential
alternative due to its antioxidant properties.
Browse full
research report on Lanolin Market: www.grandviewresearch.com/industry-analysis/lanolin-market
Further
key findings from the report suggest:
- The global lanolin market demand was 53.4 kilo
tons in 2015 and is expected to exceed 80.0 kilo tons by 2024, growing at
a CAGR of 5.0% from 2016 to 2024
- Availability of hypoallergenic grades for skin
treatment has increased its demand in pharmaceutical segment. Increasing
healthcare facilities & expanding medical sector in emerging economies
of Asia Pacific are key factors promoting industry growth
- High prevalence of diseases and increasing
cases of lifestyle related health conditions are driving the demand for
natural medication. This factor, in turn, is expected to aid in driving
growth
- Asia Pacific was the dominant region with a
volumetric share of over 35% in 2015. Improving economic conditions
coupled with a versatile pharmaceutical manufacturing landscape in China,
India, and the Philippines are touted to drive growth
- China and India collectively accounted for over
60% of the consumption in Asia Pacific and projected to be high-growth
markets over the forecast period.
- In the U.S., personal care & cosmetics
along with pharmaceuticals accounted for nearly 70% of the market value in
2015.
- Key companies operating in the industry include
Lubrizol Corporation, Nippon Fine Chemical, NK Ingredients Pte Ltd.,
Barentz Group, Jiangsu Winpool Industrial Co., Ltd., Lanotec and Lansinoh
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/organic-chemicals-and-compounds
Grand View Research has segmented the lanolin market on the basis
application and region:
Global
Lanolin Application Outlook (Volume, Tons; Revenue, USD Million; 2014 - 2024)
- Personal
Care & Cosmetics
- Baby
Care Products
- Pharmaceuticals
- Industrial
- Others
Global
Lanolin Regional Outlook (Volume, Tons; Revenue, USD Million; 2014 - 2024)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Asia
Pacific
- China
- India
- Japan
- Central
& South America
- Brazil
- Middle
East & Africa
- South
Africa
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-lanolin-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and fact-based
research across a range of industries, from technology to chemicals, materials
and healthcare.
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