Global Thioglycolates Market Forecast to Reach US$ 137.7 Mn by 2029
The global thioglycolates market is projected to reach US$ 137.7 Mn by the end of 2029. The market was valued at US$ 98.6 Mn in 2019. If these figures hold true, the market will exhibit a CAGR of 3.4% between 2019 and 2029. Rising frozen food and cosmetics demand among consumers is expected to positively impact the global thioglycolate market over the forecast period. Thioglycolate are used as chocolate ingredients, sodium reducing agents, frozen foods & beverages additives and in the cosmetics industry. While the market was likely to remain stable, recent coronavirus outbreak is negatively impacting its growth. Overall demand has significantly reduced, which may hamper the growth of the market.
KEY RESEARCH FINDINGS
- R&D initiatives to manufacture innovative products without the derogatory health effects to suit consumer needs promise ample opportunities for the market participants over the next six years.
- Growing cosmetics industry in emerging markets of Asia Pacific and Latin America is expected to provide companies with opportunities to increase their global presence.
- North America and Europe are expected to contribute the most towards global thioglycolates market in the near future.
- Stringent regulations & guidelines by agencies such as FDA and EU Cosmetics Directive regarding the product formulations and adverse health effects are presumed to challenge the global thioglycolate market growth.
- Emerging regions such as Asia Pacific and Latin America are expected to witness significant market growth owing to rising disposable income levels and rapid urbanization.
KEY FACTORS DRIVING THIOGLYCOLATES MARKET
Cosmetics Industry to Capture Leading Revenue Share
Majority of thioglycolates sourced is utilized in manufacturing cosmetics including, hair removal and hair perming products. Ammonium thioglycolate is key ingredient in these products. Solutions that consist of ammonium thioglycolate contain enough ammonia that helps in swelling the hair and thus, make it permeable. Hair perm is a prominent application of ammonium thioglycolate. The thioglycolate market offers enough room for growth in the near term. Expansion of cosmetics industry, especially in Asia Pacific (APAC) would be critical in shaping thioglycolate market over the following decade.
Rising Consumption of Bakery Items and Frozen Food
Thioglycolates find immense usage in in bakery products, and frozen foods & beverages additives, owing to consumers’ shift towards ready-to-eat food products, as they easily fit into their busy lifestyle. The trend is gaining prominence in countries such as China, India, and Japan. Social distancing regulations followed by consumers is driving consumption of frozen food products, as they can be stored for prolonged duration. Thioglycolates are vital ingredient in improving shelf-life of frozen food products.
Market Players to Explore Potential Manufacturing Units Amidst COVID-19 Pandemic
While the thioglycolates market was set to experience stable growth, the coronavirus (COVID-19) pandemic is adversely affecting market growth. North America and Europe are leading the pack in the global market. These developed regions are in the front lines of COVID-19 impact, as such, are undergoing nationwide lockdowns, and manufacturing slowdowns. Alerted by the situation, market players are looking to shift their manufacturing units to lesser prone regions such as Indonesia, India, and Australia.
THIOGLYCOLATES MARKET STRUCTURE ANALYSIS
- Leading players in thioglycolates market are focusing on product innovations and business collaborations to maintain their competitiveness in global landscape.
- Manufacturers are looking to shift their production facilities from developed regions amidst COVID-19 pandemic.
Base year considered
Actual estimates/Historical data
2015 - 2019
2019 - 2029
Value (USD) Bn
Product Type, Application, Form.
North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa.
Haihang Industry Co. Ltd., Triveni Chemicals, Alpha Chemika, Neostar United Industrial Co. Ltd., ICC Chemical Corporation, American International Chemical Inc., CellMark Chemicals, Alfa Aesar, AN Pharma Tech Co. Ltd, and Advanced Technology & Industrial Co. Ltd.
Revenue forecast, company share, competitive landscape, growth factors, and trends
Thioglycolates to Remain witness High Demand in Cosmetics Industry
Majority of thioglycolates derived is used in the manufacturing of cosmetics such as hair perming and hair removal products. Ammonium thioglycolate is the main product type used in these applications. A solution that contains ammonium thioglycolate contains ample ammonia, which helps in swelling the hair and thereby, render it permeable. Hair perm is the most important application of ammonium thioglycolate. The thioglycolate market has ample opportunities to grow in the near future. The expansion of cosmetics industry and increase in frozen food sales are expected to boost the market for thioglycolates. Furthermore, the market is expected to gain from the demand witnessed in Asia Pacific.
Government Initiatives in the Field of Thioglycolates to Offer Major Growth Opportunities in Developing Nations
Regionally, the global thioglycolates market covers North America, Latin America, Europe, East Asia, South Asia, Oceania and the Middle East and Asia. Among these regions North America currently leads the market majorly contributed by bakery industry in that region. However, Asia Pacific is expected to witness the fastest growth due to the improving socioeconomic conditions in the region. China and India are expected to lead the market in Asia Pacific exhibiting surging demand.
Increasing per capita income, growing population and government initiatives for the development of bakery industry are key factors contributing towards the growth of this market . In spite of the favorable outlook for thioglycolates in the global market, the market has to encounter several regulatory challenges in its path to growth. Over exposure to ammonium thioglycolate has been reported to have negative repercussions on the human body. Allergy, skin irritation, and respiratory distress are some of the factors that restrain the market. However, the chemical is not found to be carcinogenic in nature.
* This data is only a representation. Actual data may vary and will be available in report.
Growth in the Market to Get Steered by Increasing Consumer Awareness
The rising awareness among consumers will drive thioglycolates market. In addition to this, increasing consumer awareness and high disposable income has let them to invest in organic food and cosmetics. In developed markets, sales are likely to remain high, aided by the presence of high awareness among consumers. Also, their purchasing power is comparatively high, which will support the growth of the market.
Ammonium thioglycolate segment held the leading market share
Calcium thioglycolate segment forecast to higher rate of growth
Cosmetics industry segment holds dominance
Frozen food industry segment to rise at a higher CAGR
How Growth will Unfold
Rising demand for meat products, dairy products, bakery products, sauces and organic condiments due to rising population and increasing disposable income is expected to further augment the overall market. Demand from emerging nations such as China, Malaysia, India, Russia, Indonesia, and Brazil are likely to increase. Various types of thioglycolate are used for hair grooming applications such as colouring and straightening. However, prolonged exposure to these chemicals is not advised as they may trigger serious health concerns. Information on toxic components in thioglycolate may hamper their adoption in the cosmetics and hair care industry, subsequently hampering the overall growth of the market.
Nonetheless, research and development initiatives adopted by manufacturers to improve overall quality of their products will create growth opportunities for the market in the near future.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Thioglycolate Market: Global Industry Analysis 2015-2019 & Opportunity Assessment 2020-2030
A recent Market study published by Future Market Insights on the thioglycolate Market offers global industry analysis for 2015-2019 & opportunity assessment for 2020-2030. The study offers a comprehensive assessment of the most important Market dynamics. After conducting a thorough research on the historical, as well as current growth parameters of the Thioglycolate Market, the growth prospects of the Market are obtained with maximum precision.
Thioglycolates Market Taxonomy
The global Thioglycolate Market is segmented in detail to cover every aspect of the Market and present complete Market intelligence to readers.
- Ethylene Glycol
- Hair care and cosmetic product
- Chemical Intermediate
- North America
- Latin America
- East Asia
- South Asia
The executive summary of the thioglycolate Market includes the Market proprietary wheel of fortune, demand-side and supply-side trends, opportunity assessment, and recommendations on the global Thioglycolate Market.
Readers can find the detailed segmentation and definition of the Thioglycolate Market in this chapter, which will help them understand basic information about the Thioglycolate Market. This section also highlights the inclusions and exclusions, which help the reader, understand the scope of the Thioglycolate Market report.
The associated industry assessment of the Thioglycolate Market is carried out in this section. The macroeconomic factors affecting growth of the Thioglycolate Market are provided in this section and the impact of these macroeconomic indicators on the Thioglycolate Market is analyzed. The processing overview and technological advancements in the Thioglycolate Market is also provided.
Profit margins at each level of the Thioglycolate Market are analyzed and readers can find detailed information on top importers and exporters as well as the value chain of the Thioglycolate Market.
The drivers and restraints impacting the growth of the Thioglycolate Market are explained in this chapter. Opportunities and ongoing trends in the Thioglycolate Market are also comprehensively discussed.
This chapter includes detailed analysis of the historical Thioglycolate Market (2015-2019), along with an opportunity analysis for the forecast period (2020-2030). Readers can also find the absolute $ opportunity for the current year (2019 - 2020) and incremental opportunity for the forecast period (2020-2030).
Based on product type, the Thioglycolate Market is segmented into methanol,ethylene glycol,diesel,napthalene, ethylebenzene and formaldehyde. In this chapter, readers can find information about key trends and developments in the Thioglycolate Market and Market attractiveness analysis based on raw material.
Based on Application, the Thioglycolate Market is classified into Hair care and cosmetic product, chemical intermediate, pharmacguetical and others. This part also offers Market attractiveness analysis based on Application.
This chapter explains how the Thioglycolate Market is anticipated to grow across various geographic regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East and Africa.
This chapter includes a detailed analysis of the growth of the Thioglycolate Market in North America, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and Market growth based on end users and countries in the North America region.
Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the Thioglycolate Market in Latin America. This chapter also includes growth prospects of the Thioglycolate Market in leading LATAM countries such as Brazil, Mexico, and the Rest of Latin America.
Important growth prospects of the Thioglycolate Market based on its end users in several countries such as Germany, U.K., France, Italy, Spain, BENELUX, Nordic, Russia, Poland, and the Rest of Western Europe are included in this chapter.
In this chapter, readers can find information about key trends and developments in the key countries of South Asia such as India, Thailand, Malaysia, Indonesia, Singapore, and Rest of South Asia Thioglycolate Market.
This chapter includes a detailed analysis of the growth of the Thioglycolate Market in the East Asia region, along with a country-wise assessment that includes, Japan, China, and South Korea. Readers can also find regional trends, regulations, and Market growth based on end users and countries in the APEJ region.
This chapter offers insights into how the Thioglycolate Market is expected to grow in major countries in the Middle East region such as Australia and New Zealand, during the forecast period 2020-2030.
This chapter contains information about the Market growth of Thioglycolate in Middle East region such as GCC Countries, South Africa, North Africa, and the Rest of Middle East, during the forecast period 2020-2030.
In this chapter, readers can find detailed information about tier analysis and Market concentration of the key players in the Thioglycolate Market along with their Market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of leading manufacturers in the Thioglycolate Market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the Market players featured in the report are American International Chemical Inc., Haihang Industry Co. Ltd., CellMark Chemicals, Alfa Aesar, AN Pharma Tech Co. Ltd, Advanced Technology & Industrial Co. Ltd., Bruno Bock chemische Fabrik KG., ICC Chemical Corporation.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the Thioglycolate report.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, on the Thioglycolate Market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Sales Heads
- Production Managers
- Distributors Heads
- Sales Executives
- Product Manufacturers
- Industry Experts
- End Users
- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and Long-term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity Of Assumptions
- Industry Publications
- Industrial Week
- Industrial Product Review
- Industrial Magazine
- Industry Associations
- Dieticians Association
- Food and Agriculture Organization
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits