NEW YORK, April 25, 2022 (GLOBE NEWSWIRE) -- The global mannosylerythritol lipids (MEL) market is anticipated to reach a value of US$ 3,823.0 Th by the end of 2032. Demand for mannosylerythritol lipids is expected to increase over the coming years for end uses such as in detergents, personal care and cosmetics, pharmaceuticals, and others.
Increasing demand for environment-friendly products in the cosmetics and detergents industry along with favorable regulatory outlook is driving demand for mannosylerythritol lipids. Further, growing concerns regarding the toxicity of synthetic surfactants used in household detergents are expected to lead to the preference for substitutes such as mannosylerythritol lipids that have a low level of toxicity.
Owing to high biodegradability and ease of production, MEL finds significant demand in applications such as food, cosmetics, and pharmaceutical production. Considerable development in these end-use industries is bolstering the sales of mannosylerythritol lipids as well.
Moreover, reducing production costs through improved fermentation process and identification of fungal strains are also expected to benefit market growth over the coming years.
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Key Takeaways from Market Study
- The global mannosylerythritol lipids market is estimated to grow at a growth rate of 5% through 2032.
- Europe is expected to account for around 42% of the global MEL market share.
- South Asia Pacific and East Asia are estimated to remain high-potential markets owing to significant production volumes of detergents.
- The personal care & cosmetics segment is estimated to witness a CAGR of 5.6% over the forecast period.
- China is expected to create an incremental dollar opportunity of US$ 462.5 Mn during the projected period.
"Key manufacturers are focusing on the reduction of greenhouse gas emissions throughout supply chains by reducing energy consumption and simultaneously increasing recycling," says a Persistence Market Research analyst.
Competitive Landscape
Key MEL manufacturers are focusing on mergers & acquisitions owing to increasing demand from detergent, personal care, and cosmetics manufacturing. Further, market players are planning to commission their plants near raw material suppliers to reduce transportation costs and increase overall profit margins. They are also focusing on backward chain integration to gain maximum profit from the sale of mannosylerythritol lipids.
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- In April 2021, Kao Corporation established Kao Beauty Brands Counseling Co., Ltd. by merging two beauty counseling companies within the group Sofina Beauty Counseling Co., Ltd. and Kanebo Cosmetic Inc.
Some of the key manufacturers of mannosylerythritol lipids are Damy Chemicals Co. Ltd., Toyobo Co. Ltd., and Kanebo Cosmetics Inc.
Conclusion
Increasing demand for environment-friendly products in the cosmetics and detergents industry, under a favorable regulatory outlook from developed countries, is an important factor driving demand for mannosylerythritol lipids. Europe holds the highest market share, whereas, the East Asia and South Asia Pacific markets are expected to grow rapidly over the forecast period.
The household detergents segment holds a key share in the market, whereas, the pharmaceuticals segment is also expected to showcase healthy growth over the forecast period. China and USA are expected to remain prominent markets for the consumption of mannosylerythritol lipids.
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More Valuable Insights Available
Persistence Market Research, a research and consulting firm, has published a new market research report on the global mannosylerythritol lipids market that contains an industry analysis of 2017–2021 and an opportunity assessment for 2022–2032.
The report provides an in-depth analysis of the market through different segments, namely, end-use industry and region. The report also provides supply and demand trends along with an overview of the parent market.
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