Isopropyl Palmitate Market size is poised to reach USD 2 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of isopropyl palmitate was USD 1 Billion.
The reason behind the growth is impelled by the growing beauty & personal care industry across the globe. Globally, the average person's discretionary income has increased significantly in the last several years which has led to the rising spending in makeup and skincare products among women.
For instance, globally, the beauty and personal care industry is expected to expand by over 3% between 2024 and 2028, reaching a market size of around USD 735 billion by 2028.
The growing usage of antiperspirant sticks is believed to fuel the market growth. Antiperspirant sticks employ isopropyl palmitate as a physical stabilizer that fights odors, leaves a clean, fresh aroma behind, and diminishes perspiration.
Author Credits: Rajrani Baghel
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