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Sorbitan esters mkt prophesied to grow at CAGR of 5.6% by ’29, says FMI
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Wednesday, 17 April, 2019, 08 : 00 AM [IST]
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The global sorbitan esters consumption roughly accounted for the revenue of $720 million in 2018. According to FMI’s analysis, the sorbitan esters market value will see a healthy compound annual growth rate (CAGR) of 5.6 per cent until 2029.
With the earliest recorded commercial use of egg yolk and beeswax as emulsifiers during food production, manufacturers have been shifted away from these conventional emulsifying agents due to their short-term stability.
Sorbitan esters, the most widely used emulsifier across the food and beverages industry, also find extensive applicability in the pharmaceutical, cosmetic, textile, leather, and metalworking industries.
Sorbitan esters surpassing traditional applications in F&B industry
In the food and beverages industry, sorbitan esters are used as food additives with an excellent functionality of a stabiliser and an emulsifier, which are typically used in products such as ice cream, baked goods, chocolates, and dairy products. Traditionally, food emulsifiers are used in food products such as margarines and ice cream, among others.
Moreover, sorbitan esters have been witnessing strong traction among regional food regimes, such as Japanese cuisines, including tofu and minced fish products. The expanse of the F&B industry, particularly within developing regional markets, is driving the demand growth of sorbitan esters.
Countries such as China, India and Brazil continue to register the constantly rising demand for packaged foods and ready-to-eat products, which is, in turn, pushing the consumption levels of sorbitan esters.
Sorbitan esters, also known as Span, have been approved by the FDA, and they have gained GRAS (generally recognised as safe) status for theirs use in food and beverage products, cosmetics and pharmaceuticals, among others.
Most sorbitan esters in the market possess the functionality of a surfactant or an emulsifying agent.
The report opined that sorbitan esters will encounter lucrative opportunities within agrochemicals sector, in the years to come, further driving revenue growth of the sorbitan esters market.
Cosmetic industry’s expansion boosting sorbitan esters consumption level
The use of cosmetic products has increased at a rapid rate over the last few years, owing to the emergence of various key players in the global market and strategic marketing of these players to attract more consumers.
Sorbitan esters are used in cosmetic products as surfactants and solubilisers, in addition to a wide range of commonly-sold products, such as skin care products, cleansers, make-up products and moisturisers.
Sorbitan esters are also used in cosmetic products as wetting agents and dispersants, especially in colour cosmetics and sun care products.
Currently, in the cosmetic industry, skin care products are enjoying high demand from all demographic groups.
Globally-recognised brands such as Mac Cosmetics, Avon, Estée Lauder, L’Oreal and Willa have firmed up their footprint in the Asian market, and several others have been investing efforts in market entry within the Asian landscape.
In line with evolving consumer demand for an innovative cosmetic products range, a number of manufacturers are augmenting investments in product R&D (research and development) and innovation, followed by new product launches.
Improving availability of international brands, strongly backed by growing awareness and the surging spending power of consumers, is significantly contributing to the sales of cosmetics products, eventually translating into increased consumption of sorbitan esters.
Key Companies: Global Sorbitan Esters Market
FMI’s study has covered detailed strategic profiles of the key companies partaking in the competitive landscape of global sorbitan esters market.
The leading market players include Danisco, Merck KGaA, Oleon N V, Ivanhoe industries, Inc, Vantage Specialty Chemicals, Inc, LEUNA-Tenside GmbH, Union Derivan, S A, Sabo S p A, SEPPIC, Ethox Chemicals, LLC, Mosselman s a, Lonza AG, Penta Manufacturing Company, and Lasenor Emul, S L.
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