ALBANY, New York, May 15, 2018
ALBANY, New York, May 15, 2018 /PRNewswire/ --
The global sodium cocoyl glycinate market was valued at around US$ 55 Mn in 2016 and is anticipated to expand at a CAGR of 5.0% from 2017 to 2025, according to a new report published by Transparency Market Research (TMR) titled 'Sodium Cocoyl Glycinate Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017-2025.' Expansion of the global sodium cocoyl glycinate market is driven by the rise in demand from cosmetic companies. The sodium cocoyl glycinate market in Asia Pacific is expected to expand at a CAGR of around 6.0% during the forecast period. Advancement in manufacturing technologies and increase in adoption of sulfate-free personal care products are likely to propel the sodium cocoyl glycinate market in the region.
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Rise in Usage of Sulfate-free Personal Care Products
The trend of using sulfate-free products has prompted manufacturers to develop new-generation mild water-soluble sulfate-free surfactants. Rise in awareness about such products through advertisements has boosted the sale of shampoos, conditioners, etc. A combination of vegetable fatty acids and glycine gives products a significant foaming power, which is free of sulfate. Demand for sulfate-free products has been rising due to the increase in consumer awareness about health and efficient advertisements and branding of products. Sulfate-based products can cause eye irritation. This has boosted the usage of sulfate-free consumer products.
Rise in Demand for Liquid Sodium Cocoyl Glycinate
In terms of type, the sodium cocoyl glycinate market has been bifurcated into solid/powder form and liquid form. In the liquid form, sodium cocoyl glycinate is used in a wide range of applications such as soaps & cleansers, shampoos, and body wash and face wash products. Application of powder form of sodium cocoyl glycinate is restricted. Furthermore, the prices of liquid form of sodium cocoyl glycinate are significantly lower.
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Skin Care Application Segment to Dominate Global Sodium Cocoyl Glycinate Market
In terms of application, the sodium cocoyl glycinate market has been divided into hair care and skin care. The skin care segment is anticipated to dominate the market during the forecast period. The skin care segment consists of soaps and cleansers, body wash, moisturizers, and face wash. Usage of ethical and cruelty-free beauty products is an emerging trend among consumers. This is likely to offer significant opportunities to companies offering 'green, clean, and ethical labels' in the near future. Products manufactured using sodium cocoyl glycinate meet this criteria.
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Large Customer Base in Developing Countries of Asia Pacific to Create Opportunities
In terms of region, the global sodium cocoyl glycinate market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe hold prominent share of the sodium cocoyl glycinate market, as the per capita expenditure on personal care products and consumption of premium cosmetic products is high in these regions. North America also constitutes significant share of the market. The market in Asia Pacific is estimated to expand at a fast pace due to the rapid economic development and increase in disposable income in countries such as China and India. The market in Middle East & Africa and Latin American is expected to expand at a significant pace during the forecast period.
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Key players operating in the sodium cocoyl glycinate market include Ajinomoto Omnichem S.A., Clariant, Galaxy Surfactants, Innospec Inc., Sino Lion (USA) Ltd, Solvay S.A., Stepan Company, Henan Surface Chemical Industry Co Ltd, and Guangzhou Tinci Materials Technology Co., Ltd. Companies are investing significantly in the development of new production facilities to increase their production capacity in order to cater to the demand for sodium cocoyl glycinate. For instance, Galaxy Surfactants invested in the development of its new manufacturing facility at Zhagadia, Gujarat, India; and Egypt. Its facility at Zhagadia has annual production capacity of 77,000 metric tons of surfactants.
The global sodium cocoyl glycinate market can be segmented as follows:
Global Sodium Cocoyl Glycinate Market, by Type
Global Sodium Cocoyl Glycinate Market, by Application
Global Sodium Cocoyl Glycinate Market, by Region
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