Sorbitan Esters Market Expands Amid Increasing Application in Food and Cosmetics Sectors: New Study
Surging application in food and cosmetics industries will bolster growth opportunities for the sorbitan esters market. According to a study by Fairfield Market Research, the market is poised to exhibit 5.2% CAGR through 2025. Approval by the Food and Drug Administration (FDA) has resulted in increasing use of the ingredient as stabilizer, emulsifier, and solubilizer in the aforementioned industries. Growth is unlikely to slow down, especially as application in bakeries is expected to remain high.
Key Insights into Sorbitan Esters Market:
- Overall valuation of the sorbitan esters market is expected to surpass US$ 1.72 Bn by 2025
- The U.S. expected to create an incremental dollar opportunity of US$72.9 Mn by 2025 as food and personal care industry expands
- China to represent highest value share of 31.6% and gain 50 BPS over the forecast period
- The cosmetics and personal care product segment expected to register volume CAGR of 4.6% over the forecast period, boosting the uptake of sorbitan esters in production of ointments and creams
- Players such as DuPont, Lonza Group, Vantage Specialty Chemicals, and Ivanhoe Industries Inc. collectively account for more than 15% of value share in the sorbitan esters market.
Versatility in Applications Surges Sorbitan Ester Sales
The rising demand for food comprising natural ingredients has been strengthening the growth prospects. Also, the inclination for vegan products is expected to bode well for the market. Overall, the market will continue gaining from the surging demand for baked items. Sorbitan esters, approved by FDA has versatile applications. While the food sector is poised to remain dominant, the demand for pharmaceutical industry is likely to accelerate in the coming years.
Sorbitan esters used in food allows efficient processing, while in the cosmetics industry sorbitan esters are often used as emulsifying agent. Additionally, its contribution towards improving the dispersing properties of agrochemicals such as surfactants, will continue guaranteeing impressive growth of the market through the course of the forecast period.
Demand from Artisanal Bakeries Seals Europe’s Dominance
Europe is expected to exhibit high demand for the ingredient thanks to consumption increasing consumption of bread in the region. Sorbitan ester is a key ingredient used across artisanal bakeries of the region. Fairfield Market Research had forecast the Europe market’s valuation to surpass US$ 230 Mn in 2020. The report also predicts the demand to get stronger as bread and baked products remain integral to staple diet in the region. Also, the rising prevalence of veganism will give tailwinds to growth registered in Europe.
Asia Pacific too will exhibit high demand over the course of the forecast period. Expansion of the cosmetics sector, backed by increasing application in skincare, haircare, and color cosmetics will support growth in the region. Vegan cosmetics are making wave in the Asia market, which is expected to augur well for the market in the coming years.
The report offers an exhaustive outlook on the prevailing competitive landscape. Some of the companies profiled in the report are Oleon Holding NV, Dupont, Lonza Group AG, Esterchem Ltd, Merck KGaA, Avatar Corporation, Ivanhoe Industries Inc, Vantage Specialty Chemicals Inc, Penta International Corp, and SABO S.p.A. among others.
Companies operating in the market have been focusing meeting various regulatory requirements as a part of their product launches. For example, Avatar Corporation’s Avapol™ 20 is a sorbitan monolaurate is produced from a water-soluble emulsifier and is certified to have met all requirements as set forth by National Formulary (NF) as published by United States Pharmacopeia.