The Global Lanolin market is projected to reach USD 362.5 million by 2027. Incisive growth in the personal care industry owing to the rising consumer base in the developing regions, higher consumer preference for the natural organic ingredients, innovations in the value-added products have spurred the overall growth of this industry. A massive amount of revenue for the lanolin market is generated from the personal care applications, and enormous growth in such applications helps add to the market value largely.
In a positive outlook for pharmaceutical baby care applications, lanolin, with its high usage, should drive market size enormously. The pharmaceutical sector engrosses hugely used applications of lanolin. Anhydrous lanolin for its emulsifying, stabilizing, emollient functionalities, is widely used in the medical or clinical applications. The lanolin helps in the wound healing process, delivers active ingredients or trans-dermal through the skin. Some other pharmaceutical usage includes pigmented medication, dispersing agent, topical product for the cutaneous infection, anti-microbial and disinfectant characteristics, among others.
The Asia-Pacific, owing to the presence of developing economies like India and China, is the fastest-growing region. Asia-Pacific, led by the market growth of India, China, and Japan, is projected to see substantial gain. Rising disposable income, along with increasing customer awareness for maintaining personal hygiene and child care, should drive growth in the regional industry.
The COVID-19 impact:
As the COVID-19 crisis grows, manufacturers are quickly changing their practice and purchasing priorities to meet the required demand of a pandemic. The COVID-19 pandemic would have a direct effect on the rates of raw material extraction as the units of chemical manufacturing were disrupted. Furthermore, the disruptions in the existing supply chains force companies to build new supply chains that are more costly and time-consuming to satisfy the need for catalysts in different areas of the chemical industry, seeing an unprecedented level of operation. However, a huge demand in the hand sanitizer industry will help create a further market enforecement.
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Further key findings from the report suggest
- The personal care sub-segment accounts for the largest share of the lanolin market. From a volume perspective, the personal care application sub-segment holds the majority of the share.
- A huge expansion of the market is being forecasted due to the growing need of personal care products, such as skin moisturizing, smootheing, sense intensifiers, and pharmaceutical products such as hand sanitizer, emulsifying product, pigmnented medication, and others due to an evolving lifestyle for customers and increased consumer buying power.
- All the key market players have heavily invested in RD initiatives in recent years, contributing to the invention of multiple innovative products. Major players aim to improve their product portfolio through strategic mergers and small and medium-sized enterprise acquisitions. So an intense rivalry among players is expected in the coming years.
- Key participants include Lubrizol Corporation, Wellman Advanced Materials, Nippon Fine Chemical, NK Ingredients PTE Ltd., cIndustria Quimica del Centro, Barentz Group, Rolex Lanolin Products Limited, Jiangsu Winpool Industrial Co. Ltd., Lanotec, and Lansinoh, among others.
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For the purpose of this study, Reports and Data have segmented the Lanolin market on the basis of derivative type, form, end-use verticals, and region:
Form Outlook (Revenue: USD Million; Volume: Million Tons; 2017-2027)
Derivative Type Outlook (Revenue: USD Million; Volume: Million Tons; 2017-2027)
- Lanolin alcohol
- Isopropyl Lanolate
- Quaternium 33
- Lanolin Fatty Acid
End-Use Verticals Outlook (Revenue: USD Million; Volume: Million Tons; 2017-2027)
- Personal Care
- Baby Care
Regional Outlook (Revenue: USD Million; Volume: Million Tons; 2017-2027)
- North America
- Asia Pacific
- Latin America
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