March 2015 Spray 41 Market Beat Hydrocarbons to remain dominant aerosol propellants Transparency Market Research (TMR) predicts that the global aerosol propellants market will reach $23.2 billion in 2019, rising at a compound annual growth rate (CAGR) of 5.1% over the next five years. According to TMR, hydrocarbons made up 80% of total market share in 2012, followed by dimethyl ether (DME) at 7.7% and chlorofluorocarbons (CFCs) at 0.3%. CFCs are expected to see a decline in the future due to increasing environmental and regulatory restrictions. Geographically, Europe is considered the dominant aerosol propellants market, expected to account for 35.7% of total consumption in 2019, followed closely by North America at 30.7%. Huge potential growth opportunities exist in the Asia-Pacific market, specifically in China, concluded TMR. Oleochemicals on the rise in personal care Oleochemicals, chemicals derived from plant and animal fats, are emerging as an alternative to petroleum-based personal care lotions and creams, according to research firm Markets & Markets. Comprising fatty acids, fatty alcohols and glycerin, among other materials, oleochemicals are attractive to manufacturers because they are renewable raw ingredients in an increasingly restrictive regulatory environment. While glycerin usage is expected to grow at the fastest rate, fatty acids account for 56.34% of global oleochemical consumption. The overall oleochemicals market is expected to reach $25.91 billion by 2019, growing at a CAGR of 4.2%, due to high demand and wide availability of raw materials. Big box stores kings of personal care in U.S. According to a 2014 survey conducted by The Harris Poll of over 2,000 adults in the U.S., brick and mortar stores continue to be the largest purveyors of personal care, skin care and hair care products, particularly “big box” retail stores, pharmacies, online retailers and grocery stores. Fifty-four percent of consumers who said they regularly purchase skin and facial care products did so at “big box” retailers like Walmart and Target, followed by 31% at pharmacies, 27% online and 23% in grocery stores. Among hair styling products, 62% of consumers preferred the “big box” stores, compared to 31% for pharmacies, 28% for grocery stores and 20% online. Cosmetics, which the survey defined as “foundations, bronzers, lip gloss, etc.,” saw a slight deviation. Fifty-four percent of consumers still preferred “big box” retailers, along with 39% in pharmacies, 28% online and 23% in grocery stores, but 24% of consumers also reported purchasing cosmetics in department stores such as Macy’s and Nordstrom, 19% in-person at a specialty merchant (e.g. Sephora) and 15% through direct sellers such as Avon and Mary Kay. Consumers begin identifying “truly natural” products Personal care consumers in the U.S. and Europe are increasingly purchasing products with predominantly natural ingredients, according to findings by market research firm Kline & Co. While synthetic “natureinspired” products continue to dominate the natural personal care market (75% market share in 2014), consumers are becoming more aware of ingredients and beginning to identify products that use “truly natural” ingredients. In less mature markets, such as Brazil and Asia-Pacific, the distinction is not as important due to less disposable income and consumer awareness, according to Kline. Overall, the global natural personal care market grew by nearly 10% over the past year. SPRAY
Spray March 2015
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