Manufacturers Continue to Gain from Versatile Applications
Sorbitan esters are especially witnessing a growing demand from metalworking industry, besides leathermaking and textile industries. While this particular demand pattern is more likely to be observed in developing economies, persistent demand from the food and beverage, pharmaceutical, and cosmetics industries is dominant at a global level. The research report indicates that the cosmetics and personal care product segment will register a CAGR of 4.6% in terms of volume over the forecast period.
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Sorbitan esters, an FDA approved ingredient, has been a preferred solubilizer, stabilizer, and emulsifier among end users. Abundant consumption by bakery and confectionery industries, however, remains a stronger push factor supporting the growth of sorbitan esters market.
A solid functional portfolio demonstrating multiple attributes of sorbitan esters is creating new window of opportunity in the clean label section. With gradually soaring consumer interest in clean-label food items, beverages, pharmaceuticals, and cosmetic products, it is more likely that the clean label sorbitan esters will develop its own niche in the near future. Moreover, uptake of sorbitan esters that are 100% plant-based is poised for a promising growth outlook across their key end-use industries. The thriving trend of veganism will further favour the growth of market during the forecast period.
Younger Demographics Develop Key Consumer Clusters with Dietary Shifts and Premium Grooming Choices
The younger demographic has had a stark shift in dietary preferences over the past decade. Processed or convenience food consumption has reached new heights with bakery products being one of the top favorites. Lockdowns driven by the pandemic situation only underlined this fact. Bakery remains a prime consumer industry for sorbitan esters manufacturers. With an exceptional rate at which artisanal and home bakers are firming up in bakery markets, global sorbitan esters are expected to reap clear benefits in the near future.
Following the food & beverage industry, the cosmetics industry will be another key customer of sorbitan esters manufacturing companies. With more youngsters willing to pay a premium for top-notch grooming products, sorbitan esters continue to be used by cosmetics companies as a superior natural ingredient. Retail shelves, making room for natural, vegan products in their F&B and cosmetics categories, will also play a crucial role in pushing the growth of the sorbitan esters market over forecast period.
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Europe Maintains its Lead, Market in Asia Pacific Continues to Flourish
Europe continues to lead the global market for sorbitan esters as bread and other baked products stand as go-to products for quick meals. This is expected to boost the consumption of sorbitan esters in the forthcoming years. The regional market is also expected to benefit from the new opportunities that will continue to spring up in retail markets. On other hand, the stupendously thriving cosmetics industry will prominently uphold the sorbitan esters market in Asia Pacific. Skincare, color cosmetics, and hair care segments are especially creating a positive growth outlook for market participants in this region.
Apart from elaborated insights on the aforementioned research findings, the report on global sorbitan esters market provides detailed information about the key companies actively participating in market landscape. Top players such as DuPont, Oleon Holding NV, Merck KGaA, Lonza Group AG, and Penta International Corp are primarily focused on regulatory compliance requisites, targeting new product launches, says the report.
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