Wilmington, Delaware, United States, June 24, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global sodium methyl cocoyl taurate market was valued at US$ 45.0 Mn in 2022. It is estimated to grow at a CAGR of 6.8% from 2023 to 2031 and reach US$ 81.0 Mn by the end of 2031.
Rapid adoption of sodium methyl cocoyl taurate in skin and hair care products, due to rise in utilization of natural ingredients, is anticipated to augment market value. Surge in preference for biodegradable sulfate-free chemicals in cleaning products is expected to offer lucrative business opportunities for companies in the market in the near future
The market in Europe is anticipated to witness significant revenue opportunities due to considerable usage of sodium methyl cocoyl taurate formulations in personal care and baby care products.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 45.0 Mn | |
| Estimated Value | US$ 81.0 Mn | |
| Growth Rate - CAGR | 6.8% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 250 Pages | |
| Market Segmentation | By Form, By Application | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America | |
| Companies Covered | Taiwan NJC Corporation, Clariant International Ltd., Galaxy Surfactants, New Directions Australia, Henan Surface Chemical Industry Co Ltd, Innospec Performance Chemicals, JEEN International Corporation, KIYU New Material Co., Ltd, Zhongbao Chemicals Co., Ltd, Jarchem Industries | |
Competition Landscape
The business landscape is fragmented, with presence of several small-scale vendors. Key players are focusing on extensive R&D activities in order to develop environment-friendly products.
Prominent companies in the sodium methyl cocoyl taurate market are Taiwan NJC Corporation, Clariant International Ltd., Galaxy Surfactants, New Directions Australia, Innospec Performance Chemicals, JEEN International Corporation, KIYU New Material Co., Ltd, Zhongbao Chemicals Co. Ltd, Jarchem Industries, and Henan GP Chemicals Co., Ltd.
Rapid adoption of sulfate-free ingredients in a wide range of baby care products, skin care, and hair care products, such as shampoos, soaps, toothpastes, and facial cleansers is anticipated to accelerate market growth. Recent market trends indicate that implementation of cosmetic, body care product, and personal care product standards is driving demand for sodium methyl cocoyl taurate as a cleansing, foaming, and surfactant agent. For instance, the Cosmetics Ingredient Review considers sodium methyl cocoyl taurate safe for use in cosmetics.
Manufacturers are engaged in creating awareness about the eco-friendly nature of sodium methyl cocoyl taurate to drive consumer demand. Rise in usage of sodium methyl cocoyl taurate in oral care products is due to increase in preference for mild surfactants that are effective in removal plaque and other debris in the teeth.
Key Findings of Study
Rise in Utilization of Sodium Methyl Cocoyl Taurate in Personal Care Products: Considerable adoption of sulfate- and silicone-free ingredients in a range of personal care products, especially face washes, shampoos, body washes, and hand cleansers is anticipated to propel the market. Sodium methyl cocoyl taurate is used as a mild cleansing and foaming agent in these products. Surge in demand for such ingredients in anti-acne and beauty products is expected to offer significant business opportunities for companies in the next few years.
Significant Adoption of Sodium Methyl Cocoyl Taurate in Eco-friendly Cleaning Products: Rapid adoption of sodium methyl cocoyl taurate as an eco-friendly cleaning ingredient is expected to fuel market growth. The safety of sodium methyl cocoyl taurate leads to its usage in medicated and anti-dandruff shampoos. Significant research studies on the safety profile of sodium methyl cocoyl taurate is expected to broaden the market outlook.
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Key Growth Drivers: Sodium Methyl Cocoyl Taurate Market
- Rapid increase in awareness about harmful effects of sulfates in a wide range of cleaning products, including those used in skin and face care, is a key driver for the sodium methyl cocoyl taurate industry. Sodium methyl cocoyl taurate is fast emerging as an eco-friendly or earth-friendly surfactant used as a cleansing and foaming agent. Changing preferences of consumers toward the adoption of eco-friendly cleaning products in daily use is spurring the usage of sodium methyl cocoyl taurate in these cleaning products.
- Surge in demand for mild personal care products among consumers around the globe is a significant driver of the sodium methyl cocoyl taurate market. For instance, significant demand for skin care products among consumers who have sensitive skin or suffering from some skin conditions is likely to bolster market growth.
Regional Growth Dynamics
Europe is anticipated to account for a major share of the global sodium methyl cocoyl taurate market from 2023 to 2031. Rise in preference for natural and organic ingredients in personal care products is bolstering the market outlook. Surge in adoption of mild and naturally-derived surfactants is expected to spur demand for sodium methyl cocoyl taurate in cosmetic and personal care products in the region.
Stringent implementation of regulations pertaining to safety of ingredients used in cleaning products across Europe, especially in Germany, France, and the U.K., is anticipated to augment industry growth in the region in the next few years.
The market in North America is anticipated to expand at a steady pace from 2023 to 2031. Rapid expansion of the personal care industry in the U.S. is expected to propel the market in the region in the next few years.
Asia Pacific is a lucrative market for sodium methyl cocoyl taurate. Considerable increase in number of eco-friendly consumers in developing countries in the region, especially middle-class consumers, is expected to boost market size in the region. Surge in demand for personal care products in China, India, and Japan is likely to drive market development in the region.
Sodium Methyl Cocoyl Taurate Market Segmentation
Form
- Hair Care
- Liquid Shampoo
- Cream Shampoo
- Others
•Skin Care
- Face Wash
- Bubble Bath
- Soap and Cleanser
- Others
•Oral Care
•Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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