The global market for fatty esters, which are used as natural emollients in cosmetics, is expected to achieve steady growth over the next five years, according to a report by Transparency Market Research.
The Fatty Esters Market Report identified that the market was valued at US$1.7 billion in 2013 and is anticipated to reach US$2.3 billion by 2020, increasing at a compound annual growth rate (CAGR) of 4.1 percent.
Fatty esters are popular within the cosmetics and personal care industries as they can be added to products as emollients, thickeners and lubricants. They can also be used in soaps and detergents due to foaming, cleansing and moisturizing properties.
The increasing popularity of fatty esters has also been attributed to their eco-friendly credentials as naturally-derived chemicals. Increasing consumer preference towards natural ingredients is expected to fuel demand further.
North America is currently the largest market for fatty esters, followed by Asia-Pacific. The Asia-Pacific market is expected to experience the highest rate of growth over the forecast period with a CAGR of 5.1 percent. Increased demand from the region is largely due to rising income levels, an expanding population and growing demand for packaged and process products.