The global sodium cocoyl glycinate market was valued at around US$ 55 Mn in 2016 and is anticipated to expand at a CAGR of 5.0% from 2017 to 2025, according to a new report published by Transparency Market Research (TMR) titled ‘Sodium Cocoyl Glycinate Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025.’ Expansion of the global sodium cocoyl glycinate market is driven by the rise in demand from cosmetic companies. The sodium cocoyl glycinate market in Asia Pacific is expected to expand at a CAGR of around 6.0% during the forecast period. Advancement in manufacturing technologies and increase in adoption of sulfate-free personal care products are likely to propel the sodium cocoyl glycinate market in the region.
Rise in Usage of Sulfate-free Personal Care
Products
The trend of using sulfate-free products has prompted manufacturers to
develop new-generation mild water-soluble sulfate-free surfactants. Rise in
awareness about such products through advertisements has boosted the sale of
shampoos, conditioners, etc. A combination of vegetable fatty acids and glycine
gives products a significant foaming power, which is free of sulfate. Demand
for sulfate-free products has been rising due to the increase in consumer
awareness about health and efficient advertisements and branding of products.
Sulfate-based products can cause eye irritation. This has boosted the usage of
sulfate-free consumer products.
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Rise in Demand for Liquid Sodium Cocoyl Glycinate
In terms of type, the sodium cocoyl glycinate market has been bifurcated
into solid/powder form and liquid form. In the liquid form, sodium cocoyl
glycinate is used in a wide range of applications such as soaps &
cleansers, shampoos, and body wash and face wash products. Application of
powder form of sodium cocoyl glycinate is restricted. Furthermore, the prices
of liquid form of sodium cocoyl glycinate are significantly lower.
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Skin Care Application Segment to Dominate Global Sodium Cocoyl Glycinate
Market
In terms of application, the sodium cocoyl glycinate market has been
divided into hair care and skin care. The skin care segment is anticipated to
dominate the market during the forecast period. The skin care segment consists
of soaps and cleansers, body wash, moisturizers, and face wash. Usage of
ethical and cruelty-free beauty products is an emerging trend among consumers.
This is likely to offer significant opportunities to companies offering ‘green,
clean, and ethical labels’ in the near future. Products manufactured using
sodium cocoyl glycinate meet this criteria.
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Large Customer Base in Developing Countries of Asia
Pacific to Create Opportunities
In terms of region, the global sodium cocoyl glycinate market can be
segregated into North America, Europe, Asia Pacific, Latin America, and Middle
East & Africa. North America and Europe hold prominent share of the sodium
cocoyl glycinate market, as the per capita expenditure on personal care
products and consumption of premium cosmetic products is high in these regions.
North America also constitutes significant share of the market. The market in
Asia Pacific is estimated to expand at a fast pace due to the rapid economic
development and increase in disposable income in countries such as China and
India. The market in Middle East & Africa and Latin American is expected to
expand at a significant pace during the forecast period.
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Key players operating in the sodium cocoyl glycinate market include
Ajinomoto Omnichem S.A., Clariant, Galaxy Surfactants, Innospec Inc., Sino Lion
(USA) Ltd, Solvay S.A., Stepan Company, Henan Surface Chemical Industry Co Ltd,
and Guangzhou Tinci Materials Technology Co., Ltd. Companies are investing
significantly in the development of new production facilities to increase their
production capacity in order to cater to the demand for sodium cocoyl
glycinate. For instance, Galaxy Surfactants invested in the development of its
new manufacturing facility at Zhagadia, Gujarat, India; and Egypt. Its facility
at Zhagadia has annual production capacity of 77,000 metric tons of
surfactants.
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