Increased consumer preference and benefits associated with bio-based products, particularly in Europe and North America may propel industry growth. GMI says superior characteristics such as biodegradability, non-toxicity and environmental friendly nature along with strict government norms and policies for consumers and manufacturers on use of bio-based and eco-friendly products should surge biosurfactants market demand. Environmental concerns about toxicity and biodegradability are expected to promulgate industry growth.
Biosurfactants market demand from personal care applications should exceed $300 million by 2024 due to their superior characteristics including foaming, water binding capacity and emulsification, according to the study. Biosurfactants replace sodium lauryl sulfate in the formulation of products such as body washes, shampoos, cosmetics and hand soaps. An increase in disposable income along with a shift toward organic cosmetics and personal care products should promulgate industry growth, according to GMI.
Demand for methyl ester sulfonates (MES) based biosurfactants is expected to grow 4% over the projected timespan. Positive indicators in agricultural chemicals, personal care, industrial cleaners and household industry application should positively favor industry growth. Growing consumer awareness and available options for natural cosmetics over synthetic products should propel MES demand in cosmetic industries.
China biosurfactants market may witnessed a significant growth at over 5% over the forecast timeline. Rising consumer awareness regarding products which combine pharmaceutical and cosmetics such as acne treatment lotion, spot lightening cream and acne ointment will boost cosmeceuticals and natural cosmetic product demand, thereby enhancing product demand.