Myristyl Palmitate Market: Current Analysis and Forecast (2022-2028)

Myristyl Palmitate Market: Current Analysis and Forecast (2022-2028)

Myristyl Palmitate is a chemical compound used in a variety of personal care and cosmetic products as an emollient, thickening agent, and lubricant. It is formed by the esterification of myristyl alcohol and palmitic acid, which are both naturally occurring fatty acids. As an emollient, myristyl palmitate helps to moisturize and soften the skin, making it a common ingredient in creams, lotions, and other skincare products. It also has a lubricating effect, which can help to reduce friction and irritation on the skin. In addition, myristyl palmitate can act as a thickening agent in cosmetics and personal care products, helping to give them a smooth and creamy texture. Thus, the increasing demand for personal care and cosmetic products is increasing the demand for Myristyl Palmitate in the market.

The Myristyl Palmitate Market is expected to grow at a steady rate of around 5% owing to the increasing life-changing personal care and cosmetic products coupled with the growing adoption of myristyl palmitate in the textile industry. Therefore, the myristyl palmitate is used in personal care and cosmetic products as cosmetics are created to impart a pleasing aroma to the body. For example, cosmetic products are essential for people to wash the face, exfoliate, protect, and regenerate the skin including cleansers, toners, serums, moisturizers, and balms. However, body wash and shampoo are primarily made for more all-purpose personal care, which aids in cleaning the body. Thus, increasing the demand for myristyl palmitate in the industry across the globe.

• Based on application, the myristyl palmitate market has been classified into pharmaceuticals, cosmetics, and others. The pharmaceuticals category is to witness the highest adoption of myristyl palmitate during the forecast period. This is mainly due to the rising globalization, population, and demographic shifts increasing the demand for pharmaceuticals in the myristyl palmitate market. In addition, many compounds have pharmacological capabilities as pharmaceutical aids in connecting drug formulation and delivery, and disposal in the body. Thus, pharmaceutics is the science of converting a pure pharmacological material into a usable dose form.
• For a better understanding of the market adoption of the myristyl palmitate industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, India, Japan, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to rising urbanization and changing lifestyles are the some of factors driving the growth of the market. Moreover, the increasing consumption of organic or herbal cosmetics and hair products coupled with the growing demand for cleaning agents i.e., surfactants and detergents are further accelerating the growth of the market. Furthermore, changes in eating habits, disease patterns concerning age, a shift in day-to-day activities, etc. are estimated to remain key factors leading to increased demand in the pharma industry which act as key trends for the global myristyl palmitate market during the forecast period.
• Some of the major players operating in the market include 3B Scientific; LARODAN AB; MOSSELMAN; Penta Manufacturer; Merck KGaA; Wilmar International Ltd; Zhonglan Industry Co., Ltd.; VWR International, LLC.; Ashland; ABITEC.