According to Transparency Market Research’s recent report, the global market for antimicrobial ingredients is poised to expand at a CAGR of 4.1% in terms of volume, during the forecast period 2017-2026. The report further estimates that by the end of 2026, nearly 118,000 tons of antimicrobial ingredients will be sold across the globe.
High Demand for Antibacterial Agents to Drive Market Growth through 2026
At a global perspective, antibacterial agents are observed as the top-selling products in the antimicrobial ingredients market. Their role in protecting the life of the product and increasing the safety of consumers using the product will continue to drive their demand. Moreover, several leaders in the cosmetics industry are using antibacterial agents in the manufacturing of cosmetic products that have a chance of developing microorganisms upon exposure to certain external elements or when subjected under specific conditions. In 2017, nearly 22,000 tons of antibacterial agents were sold across the global antimicrobial ingredients market. The report further estimates at moderate demand for antifungal and anti-parasitic agents. Collectively, these two product segments are estimated to account for nearly half of the global antimicrobial ingredients market volumes throughout the forecast period.
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Skin Care Product Applications to Procure Largest Market Volume Share during 2017-2026
Increasing use of antimicrobial ingredients in the manufacturing of skin care products is driving their demand. Ingredients with antimicrobial properties are being included in the formulations of skin care products to extend the effectiveness of these creams and lotions and avoiding the risks of side-effects caused by undue microbial activities. By the end of 2026, around 28% of global antimicrobial ingredients market volumes will be accounted by skin care product applications. The report also observes hair care products and oral care products as lucrative applications for antimicrobial ingredients.
Dry-form Antimicrobial Ingredients to Register Two-Third Share on Global Market Volumes
The report has further revealed that throughout the forecast period, more than 66% of antimicrobial ingredients produced in the world will be in the form of dry powder. Application limitations of liquid ingredients will continue to drive the demand for dry ingredients in the global antimicrobial ingredients market. Moreover, cost-effectiveness of manufacturing antimicrobial ingredients in dry form will further increase the profit margins for manufacturers.
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Leading producers of antimicrobial ingredients have been profiled in the report to assess the global antimicrobial ingredients market competition landscape. Companies such as, BASF SE, Ashland Global Holdings Inc., Lonza Group Ltd., Croda International Plc., The Dow Chemical Company, Clariant AG, Akzo Nobel N.V., Solvay SA, Evonik Industries AG, and Wacker Chemie AG are expected to actively participate in the expansion of the global antimicrobial ingredients market through 2026. Several companies are eyeing to develop new antimicrobial ingredients synthetically and create safer usability of these ingredients, especially towards finding robust applications in the food & beverage industry.