Rising demand for lanolin from the cosmetics industry owing to its ability to act as an emollient is expected to have a positive impact on the market over the next seven years. Cosmetics sector growth in Asia Pacific, North America, and Europe has led to growing need for the product. Approximately two billion pounds of cosmetics contain the product or its derivatives. North America demand for lanolin-based personal care and cosmetic products is expected to increase on account of its ability to act as a sensitizer.
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Cosmetic and personal care product manufacturers have adopted an aggressive distribution strategy by making “purse size” and low cost tubes. This trend has helped them achieve significant increase in their sales over the years. The cosmetics industry in the U.S. accounted for approximately one fourth of the lanolin derivative sales while the rest was from the agricultural and industrial sectors.
Lanolin is mostly used in cosmetic and personal care applications which include hair dressings, soaps, skin creams, shampoos, and lip glosses. Furthermore, it is extensively used in baby care and lip care products. Growing need from these end-use industries is expected to have a positive impact on the market over the next seven years. However, tight raw material supply which led to increase in prices is expected to challenge demand over the forecast period.
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Rising application scope of the product in skin treatment is expected to drive demand from pharmaceutical sector. In addition, it is a key ingredient for dry skin treatment, abrasions, reducing scaling, itching, and pain. Its high effectiveness in skin related problems has resulted in increasing need which is expected to propel the industry over the next seven years.
Increased rate of healing wounds is one of the main characteristics of the product. This has resulted in ingredients developers, such as Croda Chemicals, to utilize its ability as a medically graded emollient. The company has its own range of dermatologist brands which are medically graded and have witnessed a significant growth in the last few years.
Availability of hypoallergenic grades or purer forms of the product for wound and skin treatment has witnessed a rise in demand from the pharmaceutical sector. This has resulted in rising need for the product and its derivatives in various regions including North America, Europe, and Asia Pacific.
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