Lanolin Market Analysis:
Lanolin is a naturally occurring waxy material procured from raw wool wax. It is derived from the fluids that emerge from sheep wool scouring. Long-chain waxy esters, alcohol acids, and hydrocarbons are highly pure wool grease. By utilizing high-speed centrifugation, the wax is isolated from the fluid, where it is treated and purified at various stages, including removal of deodorization & bleaching, extraction of toxins, and free fatty acid soap & water content. Lanolin exhibits a unique property of absorbing twice its weight of water and possesses physical properties such as forming protective films on the skin and lips and increasing adhesion to dry skin. These properties of lanolin make it suitable for use by consumers from colder as well as hotter regions, which, in turn, is expected to drive the market for lanolin during the forecast period.
Key drivers of global lanolin market
Rise in consumption for high-quality lanolin in the manufacturing of pharmaceutical products and cosmetics & personal care products coupled with shift in preference toward the adoption of personal care products and pharmaceuticals products comprising natural ingredients is anticipated to increase the demand for pharmaceutical grade lanolin around the globe. Other than pharmaceuticals and cosmetics, lanolin has a large scope of application in metal cutting fluid, anti-corrosive agents, and bio-lubricants, which significantly contributes toward the growth of the global market.
Market scenario: opportunities and challenges
Increase in application of lanolin in industrial usage, including leather industry, metal cutting, automotive, bio-lubricants, and anticorrosion products is anticipated to have a positive impact on the growth of the global market. In addition, manufacturers are emphasizing on new ingredient development, private label introduction, and professional product launches to attract a large consumer base. Furthermore, major personal care and cosmetics companies are increasingly utilizing lanolin waxes and oils to improve the sensory appeal and overall product value. These factors collectively are expected to positively influence the demand for lanolin derivatives in cosmetic products during the forecast period. Low labor cost and production cost and lenient regulations regarding animal welfare in these regions are projected to encourage manufacturers to expand their manufacturing facilities, which, in turn, is expected to create remunerative opportunities for the expansion of the lanolin market. However, side effects of lanolin such as skin burning, stinging, redness, or irritation and replacement of lanolin with other substitutes are expected to hinder the market growth.
COVID-19 scenario analysis
Owing to the outbreak of the COVID-19 pandemic, the global lanolin market is expected to witness a slowdown during the next couple of years. Governments of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown in the output from cosmetic to industrial sector. In addition, recent decline in the growth of the cosmetic industry is one of the key factors that is likely to negatively impact the growth of lanolin market. Moreover, companies are dealing with missing sales and disrupted supply chains as production activities are shutdown.
Key benefits of the report
- This study presents the analytical depiction of the global lanolin industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global lanolin market share.
- The current market is quantitatively analyzed to highlight the global lanolin market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global lanolin market research report
- Which are the leading market players active in the global lanolin market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Lanolin Market Report Highlights
Key Market Players
Lanotec, NK Ingredients Pte Ltd., Croda International, Lansinoh, Lubrizol Corporation, Barentz Group, Nippon Fine Chemical, JiangsuWinpool Industrial Co. Ltd., Rolex Lanolin Products Ltd, Wellman Advanced Materials