The Global Market of Dermatological Products is Expected Fall in First Quarter with Covid-19 Impact, Projects Fact.MR
Published : 10 Apr 2020 Industry: Consumer Goods
There is significant market demand for dermatological products in the FMCG landscape, owing to rising skin care trends. The market of dermatological products has grown by 10% in 2020 from 2016. However, in 2020, spending on dermatological product is expected to plummet in the first quarter owing to global lockdown attributed to Covid-19 pandemic. This has restrained production due to shortage of raw material supply. However in the second quarter, market is expected to recover as the demand for essential goods will significantly rise as governments remove nation-wide restrictions and lockdowns.
Regional trend analysis suggests that the consumers of dermatological products have shown a substantial shift towards skin friendly products, thus making the emollient market more lucrative. In 2020 the demand will plunge with the effect of covid-19. However, according to a research of nearly 38 developed countries during 2009 recession suggests, that the decline in spending on personal care will be limited to 0%-3% depending on the duration of lockdown.
Key Takeaways of Global Emollient Market
- Semi-solid emollients contribute to nearly 1/3rd of the global emollient market, which is expected to grow at CAGR of nearly 5% owing to rising demand in APEJ during the forecasted period.
- Hydrocarbons market demand will be nearly 1.7X by 2030. However, Ester demand will grow at a CAGR of nearly 5.5% thus resuming market demand for cosmetic products after covid-19 impact.
- Absolute $ opportunity for liquid emollient is expected to be US$ 40 Mn. during the forecasted period.
- In United States demand for emollient market will grow by 2X during the forecasted period. However, in India the market will grow at 7% during the forecasted period.
Established Players to Follow Strategically Timed Acquisitions to Expand Market Footprint
Key players like Lonza Group, Evonik Industries AG and Solvay are focusing on strategic acquisitions to expand their markets. In 2018, Solvay, moving a step ahead, acquired composite materials business of Argosy International to improve its services and expand its presence in Asia Pacific. While, Lonza acquired HBM-LS, an Estonia-based start-up firm that engages in research and development, manufacturing, and distribution of products for the exosomes research market. However, emerging players like NCP Works, ACME synthetic chemicals and several others are focusing on specific product segments and effective creation of volume sales.
Find More Valuable Insights on Stuffed and Global Emollient Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global Emollient Market, presenting historical demand data of 2020 and forecast statistics for the period, 2020-2030. The study divulges compelling insights on the global Emollient Market on the basis of form (solid, semi-solid, liquid and powder/ flakes) chemical types (esters, fatty alcohols, fatty acids, ether, silicones and hydrocarbons) applications (skincare, haircare, oral care, fragrances, toiletries and cosmetics) across 5 major regions and Japan.
About the Retail and Consumer Goods Division at Fact.MR
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