Global Lipids Market: Dynamics
The global lipids market is estimated to be driven by the increasing demand from personal and cosmetics applications wherein lipids are used as ingredients and raw materials in the production of cosmetics. The consumer inclination towards using cosmetics and skin care products with natural ingredients has been the key driving force for the demand for lipids in the personal care and cosmetics industry. Lipids find a wide range of applications in the cosmetics used in make-up and skin care, which account for a combined value share of more than 50% in the global cosmetics market. Increasing per capita disposable income in developing regions is another driving force for the growth in the sales of cosmetics in regions/countries such as Latin America, Middle East and Africa, China and India. Growing trends in the food and beverage industry have caused numerous health-related problems among the global population, and thus, the nutraceutical industry has been successful in attracting a huge consumer base.
North America is considered to be one of the key global markets in terms of the demand for nutraceutical products. As per the reports of FICCI, increased healthcare costs and rescission have coupled the effects on the growth of the nutraceutical industry in North America. Increasing awareness regarding health, owing to high life expectancy, is another key reason contributing to the growth of the nutraceutical industry wherein the demand for lipids as ingredients is high.
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Global Lipids Market: Segmentation Analysis
Market insights suggest that the global lipids market is dominated by the personal care and cosmetics application segment wherein the demand for lipids as raw materials in the production of modern cosmetics is the key driving force for the growth of the lipids market over the forecast period. Moreover, the functional qualities of lipids such as skin compatibility, biodegradable and nontoxic nature fuel the increasing demand for lipids in personal care and cosmetics industries. Moreover, the application of lipids in the food and beverage industry, specifically in nutraceutical products and dietary supplements as additives or ingredients, is expected to register steady growth in the demand, owing to the growing nutraceutical industry across the globe. The growing concerns regarding health related problems have attracted a huge consumer base for nutraceutical products across the globe, which adds to the growth of the food and beverage industry. The growing food and beverage industry is expected to keep the demand for lipids high over the forecast period.
Global Lipids Market: Regional Market Projections
On the basis of region/country, China is anticipated to dominate the global lipids market throughout the forecast period. In China, the lipids market is expected to expand at a CAGR of around 4.6% during the forecast period. Moreover, APAC and North America are anticipated to register relatively higher CAGRs in the global lipids market during the forecast period. These two regions, coupled with Latin America, are expected to register attractive growth rates in the global lipids market during the forecast period. The Europe lipids market is at a mature stage and is expected to witness slow growth over the forecast period.
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Global Lipids Market: Competitive Landscape
Some of the players reported in this study on the global lipids market include Lipoid GmbH, Wilmar international, Sonic Biochem Extractions, Avanti Polar Lipids Inc., VAV Life Sciences, Corden Pharma International, Chemi S.p.A, Stepan Company, NOF Corporation, Cayman Chemical Company, Merck Millipore Ltd, ABITEC Corporation Archer Daniels Midland Company and Tokyo Chemical Industry Co., among others.