Coco Glucose Market

Coco Glucose Market Size and Forecast (2023-2028):

The Global Coco Glucose Market share value is expected to grow at a CAGR of 4.32% during the forecast period 2023-2028 to reach USD 63.85 billion by 2028 from USD 47.48 billion.

Market Overview:

Coco glucose or coco glucoside is a natural surfactant that is derived from the coconut; it is obtained by mixing coconut oil and sugar glucose. It is a clear yellowish, low viscous liquid with a characteristic odor and is highly water soluble in a wide pH range, from 6.5 to 7.5; it is a mild and gentle surfactant that is used in a variety of personal care products, such as shampoos, shower gels, facial cleansers, and body washes. It is also used in food and beverage products. Coco glucoside is environmentally friendly and sustainable. Its biodegradable nature aligns with environment-conscious values. It has excellent foaming properties and makes a favored option for high-quality shampoos and shower gels. Its non-ionic characteristic ensures compatibility with a diverse range of other ingredients, which enhances formulation flexibility. Furthermore, its neutral pH makes it suitable for all skin kinds, aiding its versatility.

Recent Developments in Coco Glucose Industry:

• In January 2021, the State-owned Development Bank of the Philippines (DBP) provided a loan amounting to P645 million to Hijo Superfoods, Inc. (HSI). This financial assistance is intended to support the development and expansion of HSI's facilities dedicated to the production of banana flour and coconut sugar.

REPORT COVERAGE:

Drivers:

The rising demand for natural and sustainable ingredients due to growing awareness about environmental and health concerns caused a surge in demand for natural and organic products, including coco glucose, which is biodegradable, organic, and vegan. It is obtained from renewable sources like coconut oil. It is a non-ionic surfactant, which is gentle on the skin and thus commonly used in shampoos, lotions, and body washes. As coco glucoside is made from renewable sources, its by-product does not affect the environment, which makes it an ideal choice as a surfactant in personal care products. It attracts consumers due to its minimal environmental footprint from production to disposal. As consumers are becoming more aware, they are seeking transparency in product formulations. Coco glucosides from coconut oil resonate with those seeking ingredient clarity, and thus, the rising demand for natural and sustainable ingredients, along with environmental and health considerations, makes coco glucoside a favor, which, therefore, increases the coco glucose market share. Furthermore, the skincare and personal care sector is rapidly growing. This growth is being driven by several factors, including increasing awareness of the importance of skin health, the growing popularity of natural and organic products, and the increasing demand for personalized skincare solutions. One of the key trends driving the growth of the skincare and personal care industry is the demand for natural and mild ingredients, which caused consumers to seek products that cleanse their skin without irritating it. This led to significant demand for coco glucoside because of its natural and gentle characteristics. Coco glucoside, a non-ionic surfactant, is a gentle cleanser that is ideal for sensitive skin and removes dirt, oil, and makeup effectively without causing skin rashes or irritation. It has excellent foaming capacity, which makes it ideal for shampoos, body washes, and facial cleansers.

Furthermore, the skincare and personal care sector is rapidly growing. This growth is being driven by several factors, including increasing awareness of the importance of skin health, the growing popularity of natural and organic products, and the increasing demand for personalized skincare solutions. One of the key trends driving the growth of the skincare and personal care industry is the demand for natural and mild ingredients, which caused consumers to seek products that cleanse their skin without irritating it. This led to significant demand for coco glucoside because of its natural and gentle characteristics. Coco glucoside, a non-ionic surfactant, is a gentle cleanser that is ideal for sensitive skin and removes dirt, oil, and makeup effectively without causing skin rashes or irritation. It has excellent foaming capacity, which makes it ideal for shampoos, body washes, and facial cleansers. Therefore, this fuelled the coco glucose market size and led to an increase in its market demand.

Moreover, the growing popularity of eco-friendly and sustainable ingredients in personal care products is a major driving factor in the coco glucoside market. Coco glucoside is a natural and biodegradable ingredient that is derived from coconut oil. This makes it a sustainable choice over synthetic surfactants, which harm the environment. Coco glucoside is also effective and gentle and a mild cleanser that removes dirt, oil, and makeup without stripping the skin of its natural oils. It is also a good foaming agent, which makes it ideal for use in shampoos, body washes, and facial cleansers. As the demand for eco-friendly and sustainable personal care products continues to grow, this has led to a rise in coco glucose market share.

Restraints:

One of the significant factors that are affecting the market share of the coco glucose market is the high cost involved in production. The higher production cost is primarily due to the extraction process from renewable sources like coconut oil and glucose. Additionally, the extraction and processing methods required for obtaining pure and effective coco glucoside contribute to elevated production expenses. This, therefore, increases the overall cost of coco glucose surfactant, which limits its demands and sales in a sensitive market. Despite being natural, organic, and environment friendly, the high cost of products restricts the market growth.

Opportunities:

The growing demand for natural beauty and personal care products creates an opportunity for the coco glucoside market. As consumers are seeking products that are natural and organic, it has led to a significant opportunity for the coconut glucose market as coco glucoside is a natural and gentle ingredient that aligns with the consumer's need for natural beauty and personal care products. Its biodegradable and sustainability features further increased its opportunity, as coco glucose is compatible with a wide variety of formulations, manufacturers involved in the production of personal care products can leverage this opportunity to create sustainable, natural, and organic shampoos, body washes, and facial cleansers.

COVID-19 Impact on Coco Glucose Market:

COVID-19 had a significant impact on the global supply chain of the coco glucose market; the pandemic disrupted the supply of raw materials, which led to a decline in the production and caused a decrease in the supply of coco glucose surfactant, which affected the personal care industry. As the pandemic affected the sourcing of raw materials due to the implementation of restrictions and travel ban, it caused the shutting down of factories and a shortage of labor, hence impacting the production capacity and causing lower production. The pandemic also led to the disruption of transportation, making it expensive and difficult to export products to different regions. It contributed to the higher prices of coco glucoside. Hence, the pandemic negatively affected the coco glucoside market. Moreover, the economic uncertainty impacted the purchasing capacity of the consumers; due to the decline in purchasing power, the demand and sales of organic and natural cosmetics products decreased significantly, which therefore affected the need for coco glucose ingredients, hence causing a decline in the coco glucose market size.

Coco Glucose Market Segmentation Analysis:

By Function:

• Cleansing Agent
• Foaming Agents
• Surfactant

Based on the function, the coco glucose market is divided into cleansing agents, foaming agents, and surfactants. The surfactant segment accounted for the highest market share as they are used in a wide variety of personal care products, including shampoos, body washes, and facial cleansers. These surfactants are also used in a variety of industrial applications, which is driving the growth of this segment. The cleansing agent has the fastest growth rate during the forecast period, as it is used in laundry detergents and dishwashing soaps. At the same time, the foaming segment has significant growth as they are used to create a lather in personal care products.

By End-User:

• Cosmetics
• Personal Care
• Baby Products

Based on the end-user, the coco glucose market is divided into cosmetics, personal care, and baby products. The personal care product has the highest market share. Coco glucose is mostly used in personal care products such as shampoos, lotions, facial cleansers, and body washes. Due to its non-ionic feature, the coco glucose surfactant removes dirt effectively without forming any film, and hence, the personal care segment has the maximum market share and generates maximum revenue. The cosmetic segment has the largest market share and CAGR since it is used in lipsticks, mascara, and foundations to enhance the appearance of the skin, hair, and nails. The baby products segment has steady market growth since the gentle cleansing property of coco glucose aids in creating formulations for baby’s sensitive skin.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

By Region Analysis:

North America accounted for the highest market share. This dominance is due to the increasing demand for natural and organic personal care products and also an increase in awareness among environment-conscious consumers. Europe has the largest market share next to North America, increasing demand for natural, gentle personal care products and cosmeceuticals. Asia Pacific has a significant growth rate in the coco glucose market because of its large population and diverse consumer preferences, which contributed to a substantial market for coco glucoside. Also, the increasing focus on natural and herbal-based skincare and personal care products is driving demand for natural ingredients like cocoglucoside. Latin America has a steady coco glucose market share, whereas the Middle East and Africa have a low market share as compared to other regions.

Key Players in the Market:

Major Key Players in the Global Coco Glucose Market are

• BASF SE
• Seppic Inc
• Innospec Inc
• Croda International plc
• SABO S.p.A.
• Dow Chemical Co Ltd
• Dadia Chemical Industries
• Wanqui
• Libra Speciality Chemicals
• Galaxy Surfactants
• Tinphy New Material
• Shanghai Fine Chemical
• SOHO ANECO Chemicals
• BioOrganic Concepts
• Jarchem Industries
• Berg & Schmid