Market Size of Bleaching Clays Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Bleaching Clays Market Analysis
The Bleaching Clays Market is projected to register a CAGR of over 4% during the forecast period (2021-2026).
The market was negatively affected due to COVID-19 in 2020. Owing to the pandemic scenario, several countries went into lockdown. This affected the demand for bleaching clays from various industries, such as food and beverage, cosmetics and personal care, and others due to supply chain disruptions, work stoppages, and labor shortages. Loss of investment plans and termination of planned projects might be experienced in the market after the lockdown and normalization of business operations, further affecting the world's cosmetic and personal care industry. For instance, globally, the beauty industry, including colon cosmetics, fragrances, skincare, haircare, and personal care, has been affected by the COVID-19 crisis. The first-quarter sales were really weak, and there have been widespread store closures. By the end of 2020, revenue generated by the cosmetic and personal care industry is anticipated to decline by 20-30%, which has further affected the demand for bleaching clays. However, the condition is expected to recover in 2021, thereby restoring the market's growth trajectory over the forecast period.
- Over the short term, major factors driving the market studied are growing demand for refined vegetable oil and increasing demand from the cosmetics and personal care market. Continuous growth in online beauty spending, expanding use of social networks, increasing consumer interest in new and premium products, accelerating urbanization, and the growth of the upper-middle-class population are the major factors driving the cosmetics and skincare market worldwide, thereby enhancing the demand for bleaching clays.
- On the flip side, stringent safety legislation is expected to hinder the growth of the market.
- Increasing demand for biodiesel is expected to offer various opportunities to the market studied.
- The food and beverage industry is expected to account for the major share of the bleaching clays market.
- Asia-Pacific is expected to dominate the global bleaching clays market. It is also expected to be the fastest-growing market during the forecast period owing to the increasing consumption from countries such as China and India.
