The global mannosylerythritol lipids (MELs) market is projected to register a healthy CAGR of 4.9% in terms of value during the forecast period (2021 – 2031). This is attributed to various factors, regarding which, Persistence Market Research offers detailed insights in its revised report. The MELs industry is estimated to rake in revenue worth US$ 3 Bn in 2021. On the basis of end-use industry, the market has been segmented into household detergents, personal care & cosmetics, pharmaceuticals, food, and others. The household detergents segment accounted for over 3/10 value share of the global mannosylerythritol lipids market in 2020 and is expected to register a healthy CAGR similar to that projected for the global MELs market over the forecast period. Furthermore, personal care & cosmetics segment accounted for 3/10 value share of the overall market in 2020 and is expected to grow at a positive CAGR in terms of value, over the forecast period.
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The household detergents segment is sub-segmented into the laundry, dish wash, and others. The laundry sub-segment is expected to grow at the fastest growth rate over the forecast period owing to the rising demand of MEL as a non-toxic alternative to chemical-based detergents. Personal care & cosmetics segment is further sub-segmented into skin care, hair care, and others. The skin care sub-segment is expected to grow at the fastest value CAGR over the forecast period owing to the increasing demand for MEL as a moisturizing ingredient in skin care products. Revenue contribution of pharmaceuticals segment was 1/5 in 2020 and is projected to grow to 1/4 by 2031, registering a healthy CAGR. The food segment is forecast to witness a steady growth over the forecast period owing to the increasing application of MEL in food processing.
The global mannosylerythritol lipids market has been segmented into five major regions which include North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. Of all the regions, Europe dominated the market with over 3/10 of the overall MELs market volume share of in 2021. The North American market for MELs is estimated to be worth approximately US$ 588 Mn in 2021. In addition, Asia-Pacific is anticipated to become the fastest growing region in the global mannosylerythritol lipids market. The growth of the global mannosylerythritol lipids market is mainly driven by rising demand for environment-friendly products, tremendous promise for use in wide range of applications, and the rising demand of MEL as a natural ceramide substitute.
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Other trends driving the growth of the global MELs market include the production of MEL-B using sugarcane juice as the primary carbon source, and customizing the product portfolio more specific to an application. This report covers trends driving each segment and respective sub-segments and offers analysis and insights of the potential of the mannosylerythritol lipids market in specific regions. North America and Asia-Pacific collectively are expected to account for nearly 1/2 of the total mannosylerythritol lipids market share by 2031. Among all the regions, Asia Pacific is anticipated to register the highest CAGR between 2021 and 2031, followed by Europe and MEA due to increasing awareness regarding bio-based products within this region.
Key players in the global MELs market include Toyobo Co. Ltd., Biotopia Co Ltd., and Damy Chemicals Co. Ltd. Major participants such as Toyobo Co. Ltd. focus on expanding into overseas markets for its bio-products through strategic mergers and acquisitions in order to attain a sustainable advantage over the competition. In addition, the key players also focus on expanding their product portfolio through innovative product launch with the objective to enhance customer base. Apart from the above-mentioned strategies, these major players also focus on research and development activities and partnerships with various small-scale MEL manufacturers.
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