Behenyl alcohol market

Behenyl alcohol, also referred to as docosanol, is a large fatty straight-chain alcohol. It is used as thickener, emulsifier, and opacifying ingredient. It is used to reduce the clear or transparent appearance of cosmetic products as an opacifying agent. As a thickener it helps products to attain more desirable and spreadable texture.

Global behenyl alcohol market was valued at US$ 159.24 Mn in 2021 and is anticipated to reach US$ 220.83 Mn by the end of 2030, growing at a CAGR of 3.7% during the forecast period (2022 to 2030).

Market Drivers

Growing market of personal care products in the U.S. is a prominent factor expected to fuel the market growth of behenyl alcohol. Women in the U.S. spend around US$ 3,000 on cosmetics annually and 4 out of 5 American women follow beauty industry trends and regularly use fragrance products. Hence, expanding personal care product industry is expected to foster the market growth of behenyl alcohol over the forecast period.

Increasing demand for organic cosmetic products in the Europe region is expected to propel the market growth of behenyl alcohol. For instance, according to Cosmetics Europe, the personal care association, sales of cosmetics and personal care products is expected to grow at a CAGR of 7.52% during 2022-2026. Thus, the demand for organic cosmetics is also expected to fuel market growth of behenyl alcohol.

Among regions, Asia Pacific dominated the global behenyl alcohol market in 2021 due to presence of top behenyl alcohol exporting countries such as India, Japan, etc., followed by North America and Europe.

Figure 1. Global Behenyl Alcohol Market Value Share (%), By Region, 2021

Market Restraints

High cost of behenyl alcohol products is a major factor expected to hinder the market growth over the forecast period. Manufacturers of cosmetics in Brazil are highly dependent on the import of behenyl alcohol products from suppliers in Asia and price fluctuation in rapeseed oils could impact overall sales of behenyl alcohol in Brazil. Hence, the high cost of behenyl alcohol-based products is projected to hamper the market growth during the forecast period.

Growing consumption of stearyl alcohol as a substitute of behenyl alcohol could decrease demand for behenyl alcohol in cosmetic products. Asia Pacific has witnessed a strong demand for stearyl alcohol from the cosmetic industry that could impact demand for behenyl alcohol and in turn market growth of behenyl alcohol. Stearyl alcohol has been widely used in manufacturing of anti-aging products as it has excellent lubricant properties.

Market Opportunities

Rising investment by major players on the research and development of new cosmetics and cosmeceuticals products is projected to foster market growth over the forecast period. Players are investing heavily in innovations such as hypoallergenic creams, which have minimal impact on health. Hence, rising investment in the innovation of cosmetic products is projected to boost the market growth of behenyl alcohol over the forecast period.

Increasing availability of small, convenient and affordable cosmetic products coupled with the growing number of working women is expected to foster the market growth over the forecast period. Growing consumer interest towards herbal and Ayurveda cosmetic products coupled with the rising demand for premium cosmetic beauty products due to the changing lifestyle of consumers and rapid urbanization is projected to propel the market growth over the forecast period.

Figure 2. Global Behenyl Alcohol Market Value Share (%), By End Users, 2021

On the basis of end users, in 2021, the cosmetics segment accounted the largest market share, in terms of revenue, followed by pharmaceuticals and nutritional supplements segments.

Market Trend

Rising trend of innovatively packaged cosmetic products is fuelling demand for cosmetic products, which is in turn accelerating the market growth of behenyl alcohol. Currently, innovative packaging is playing a very key role in increasing the sales of cosmetics. Moreover, advanced features of cosmetic packaging such as easy to open caps, packs which could stand up better in showers, pump packs which are convenient and easy to use is further projected to fuel the market growth of behenyl alcohol.

Global Behenyl Alcohol Market- Impact of Coronavirus (Covid-19) Pandemic:

With the introduction of COVID-19 in 2020, the behenyl alcohol sector, which was witnessing growth at a CAGR of roughly 4.5% annually, saw a year-over-year growth of nearly -3.1% in 2020.

Behenyl alcohol, however, has an antiviral effect in medical applications against lipid-enveloped viruses like the herpes simplex virus (HSV) and is also a component of lotions used to treat recurrent herpes on the skin. With the growing demand for OTC treatments and ointments for cold sores, the market is anticipated to gain traction over the forecast period due to its multiple applications in the pharmaceutical industry.  

Competitive Section

Major players operating in the global behenyl alcohol market include BASF SE, Kao Corporation, Godrej Industries, VVF Chemicals, Sasol Ltd, and Nikko Chemicals, Co. Ltd.

Detailed Segmentation:

• Global Behenyl Alcohol Market, By Application:
  • Emollients
  • Emulsifiers
  • Thickeners
  • Others
• Global Behenyl Alcohol Market, By End Users:
  • Cosmetics
  • Pharmaceuticals
  • Nutritional Supplements
• Global Behenyl Alcohol Market, By Region:
  • North America
    • By Application:
      • Emollients
      • Emulsifiers
      • Thickeners
      • Others
    • By End Users:
      • Cosmetics
      • Pharmaceuticals
      • Nutritional Supplements
    • By Country:
      • U.S.
      • Canada
  • Latin America
    • By Application:
      • Emollients
      • Emulsifiers
      • Thickeners
      • Others
    • By End Users:
      • Cosmetics
      • Pharmaceuticals
      • Nutritional Supplements
    • By Country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Europe
    • By Application:
      • Emollients
      • Emulsifiers
      • Thickeners
      • Others
    • By End Users:
      • Cosmetics
      • Pharmaceuticals
      • Nutritional Supplements
    • By Country:
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Application:
      • Emollients
      • Emulsifiers
      • Thickeners
      • Others
    • By End Users:
      • Cosmetics
      • Pharmaceuticals
      • Nutritional Supplements
    • By Country:
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Middle East & Africa
    • By Application:
      • Emollients
      • Emulsifiers
      • Thickeners
      • Others  
    • By End Users:
      • Cosmetics
      • Pharmaceuticals
      • Nutritional Supplements
    • By Sub-region:
      • Middle East
      • Africa