06.24.19
For years, formulators have balked at incorporating lanolin into their formulas, but demand from Asia as well as interest in natural ingredients, is boosting demand for the ingredient, according to Persistence Market Research (PMR). The global lanolin market was pegged at $757.8 million, in terms of value, at the end of 2017, and is expected to reach nearly $1.4 billion by the end of 2028, for a CAGR of 5.6%. PMR credits the gains to consumer interest in cosmetics and personal care products with natural ingredients. Lanolin has wide-ranging applications in cosmetics and personal care formulas, and is used in lip care, skin care, hair care, and baby care products. The increased preference toward using ultra-sensitive products for baby care applications is further stimulating the demand for lanolin. Prevalent growth expected in the men’s care product line is leading to a surge in several ingredients used in the formulation of the same, according to PMR.
Lanolin is a widely used natural ingredient in such applications, and is anticipated to remain driven throughout the forecast period. Growing urban population, increased per capita spending, and increasing youth inclination toward the use of cosmetics and personal care products are other factors that are positively influencing the lanolin market. Among the grades, pharmaceutical grade segment is highly demanded, as lanolin and its derivatives find wide application in medicinal and personal care applications. Owing to this, the pharmaceutical grade segment is expected to dominate the lanolin market over the forecast period across the globe.
The increasing prominence of pharmaceutical grade lanolin can be attributed to increasing skin care and hair care formulations. The demand for lanolin to produce baby care products has also been noted to further propel the market for pharmaceutical grade lanolin.
Rising lanolin demand from pharmaceutical and personal care and cosmetic manufacturers is expected to drive the growth of the lanolin market in regions such as East Asia and South Asia Pacific. Growing healthcare and pharmaceutical industries in these regions, coupled with the rising need for enhanced skin treatment, is attributed to the significant growth of the lanolin market. Growing cosmetic and personal care manufacturing activities, largely in France and Germany, due to rising exports, will fuel the demand for lanolin in Europe. Increasing demand for bio-lubricants and anti-corrosive agents due to significant industrial activities in Europe are expected to be potential market boosters for lanolin. Increased consumer awareness concerning baby care and personal care, supported by easy product availability due to mounting retail channels, is expected to increase the adoption of baby toiletries and personal care products in regions such as North America, owing to which, North America is estimated to be a promising market for lanolin.
Lanolin is a widely used natural ingredient in such applications, and is anticipated to remain driven throughout the forecast period. Growing urban population, increased per capita spending, and increasing youth inclination toward the use of cosmetics and personal care products are other factors that are positively influencing the lanolin market. Among the grades, pharmaceutical grade segment is highly demanded, as lanolin and its derivatives find wide application in medicinal and personal care applications. Owing to this, the pharmaceutical grade segment is expected to dominate the lanolin market over the forecast period across the globe.
The increasing prominence of pharmaceutical grade lanolin can be attributed to increasing skin care and hair care formulations. The demand for lanolin to produce baby care products has also been noted to further propel the market for pharmaceutical grade lanolin.
Rising lanolin demand from pharmaceutical and personal care and cosmetic manufacturers is expected to drive the growth of the lanolin market in regions such as East Asia and South Asia Pacific. Growing healthcare and pharmaceutical industries in these regions, coupled with the rising need for enhanced skin treatment, is attributed to the significant growth of the lanolin market. Growing cosmetic and personal care manufacturing activities, largely in France and Germany, due to rising exports, will fuel the demand for lanolin in Europe. Increasing demand for bio-lubricants and anti-corrosive agents due to significant industrial activities in Europe are expected to be potential market boosters for lanolin. Increased consumer awareness concerning baby care and personal care, supported by easy product availability due to mounting retail channels, is expected to increase the adoption of baby toiletries and personal care products in regions such as North America, owing to which, North America is estimated to be a promising market for lanolin.
