Sodium Cocoyl Glycinate Market to Record an Exponential CAGR by 2025
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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Report Overview @
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.
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.
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.
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