Sodium Cocoyl Glutamate Market Segment Forecasts up to 2025
The competitive landscape of the global sodium cocoyl glutamate market seems partially consolidated, says Transparency Market Research (TMR). This is because key players held nearly 50.0% of market share in the year 2016. Easy availability of sodium cocoyl glutamate in the regions like China is making way for easy entry for chemical companies to get into manufacturing of sodium cocoyl glutamate. As a result, competition among the key players is expected to get even fierce in the upcoming years. Top players in the global sodium cocoyl glutamate market are focusing on product innovation and technological innovation to strengthen their market position. Some of the key players operating in the global sodium cocoyl glutamate market are Clariant, BASF SE, Ajinomoto Co., Ltd, Asahi Kasei Fine Chemicals, DELTA and Tinci.
According to a recent market research report by TMR, the global sodium cocoyl glutamate market was noted at a US$0.1 bn in the year 2016. The market is anticipated to rise at a steady 4.0% CAGR from 2017 to 2026.
On the basis of application, skin care application is anticipated to hold a majority of market share. The segment dominated the global sodium cocoyl glutamate market in the year 2017 with around 58.01% of market share. Geographically, Asia Pacific is anticipated to dominate the global sodium cocoyl glutamate market in the forecast period. This is because of the presence of top manufacturers and increasing demand of sodium cocoyl glutamate based skin care products in the region.
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Increasing Inclination of Consumers towards Organic Products to Boost Demand
The demand for sodium cocoyl glutamate is rising owing to the thriving personal care industry. Sodium cocoyl is widely used in the manufacturing of hair care and skin care products because of its ability to prevent hair loss and reduce skin damage. Previously, sodium lauryl sulfate found use in the manufacture of hair care and skin care products. However, sodium lauryl sulfate is quite toxic in nature and causes problems like roughness and dryness to the user’s hair or skin. The increasing side effects of using sodium lauryl sulfate is necessitating better medium. The global sodium cocoyl glutamate market is expanding as an effective replacement of sodium lauryl sulfate.
In addition to this, rising inclination of consumers towards organic products and increasing population of working women are the two strong factors likely to propel the global sodium cocoyl glutamate market in the near future.
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Exorbitant Cost of Sodium Cocoyl Glutamate May Crimp Growth
The high cost of sodium cocoyl glutamate surfactants as compared to the other chemical substitutes is one factor hampering the growth of the global sodium cocyl glutamate surfactants market. This is because sodium cocoyl glutamate has a higher manufacturing cost as compared to sulfur based chemicals. Additionally, lack of consumer awareness about the benefits of using sodium cocoyl glutamate based products is likely to suppress the growth.
Nevertheless, increasing investment by end users over marketing and promotion of sodium cocoyl glutamate based products is likely to dilute restraints of the sodium cocoyl glutamate market.
The information presented here is based on a TMR report titled “Sodium Cocoyl Glutamate Market (Form - Powder SCG and Aqueous Solution; Application - Hair Care and Skin Care) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.”
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