Methyl glucose is a monosaccharide substance, derived from a chemical reaction between methanol and glucose.
Generally manufactured in research laboratories and available both in liquid and powdered forms, methyl glucose has emerged as a suitable intermediate in the manufacturing of cosmetic products.
The demand for anti-aging and anti-wrinkle creams has been on the rise in leading economies, globally. Leading cosmetic product manufacturers are, as a result, focusing on producing more cosmetic products to meet the consumer requirements.
This has helped increase the demand for methyl glucose and contributed to the growth of the methyl glucose market.
In addition to the cosmetic products, methyl glucose has been deployed in their production are lotions, moisturizing creams, and cleansers.
Advancements to existing cosmetic and skin care products to meet the changing consumer trends could help increase the methyl glucose demand, in the years ahead.
Other factors such as rising disposable incomes among families residing in various global economies and changes to regulations concerning the use of cosmetic ingredients are expected to bolster the demand for methyl glucose, in future.
Increased Purchase of Cosmetic Products over the Internet Fuels Methyl Glucose Demand
Cosmetic products have witnessed an increase in demand from e-commerce websites, where more and more consumers have drifted to purchase the products, owing to factors such as favourable discounts on these products on these platforms.
The increased demand has helped increased the number of products manufactured, which in turn could help propel the methyl glucose demand, too.
The global manufacturing of methyl glucose derivatives has been on the rise and this is anticipated to positively impact the growth in the overall methyl glucose market, in the years ahead.
With consumers purchasing cosmetic products over the internet, it seemed like the online distribution channel would in turn propel the methyl glucose market.
COVID-19 Pandemic Adversely Affects Growth in Overall Methyl Glucose Market
The growth in the methyl glucose market seemed to be heading in the positive direction, but the outbreak of the COVID-19 pandemic negatively impacted the growth in the methyl glucose market.
Leading market players were unable to produce unique beauty products in large quantities, owing to government-imposed lockdowns leading to temporary or permanent shutting down of production facilities.
That led to reduced sales of cosmetic products as well as reduced demand for methyl glucose for cosmetic products production and adversely affected the overall methyl glucose market.
However, with cases on the decline and the availability of different vaccines, production units could start operations at close to full capacity soon, in turn increasing the demand for methyl glucose.
Also, with rising cases globally, many tourist destinations were forced to restrict the entry of visitors, owing to strict social distancing regulations imposed by governments, in a bid to contain the spread of the virus.
This affected the demand for cosmetic products, with fewer families purchasing the products owing to the travel restrictions.
While methyl glucose has witnessed high demand in cosmetic products production, the availability of suitable alternatives, which are cost-efficient, eco-friendly and are more easily available could lead to a decrease in demand for methyl glucose and impact the overall methyl glucose market.
Research and development activities to produce improved quality of products could be a key growth strategy for leading methyl glucose market players, in the years ahead.
Launch of New, Improved Products Could Help Prominent Methyl Glucose Market Players Gain an Edge over Competitors
Growth strategies such as new product launches could help prominent methyl glucose market players gain a competitive edge over other players, in future.
Collaboration with smaller players could help well-established methyl glucose market players expand their market presence and increase their revenue shares.