Polysorbate-80 Market size was valued as $348M in 2019, and is poised to grow at a CAGR of 5% during the forecast period 2020-2025. Polysorbate-80, also abbreviated as PS80 is a fatty acid ester of polyoxyethylene sorbitan. It is prepared by ethoxylation, Polysorbate 80 is derived from polyethoxylated sorbitan and oleic acid. The hydrophilic groups in this compound are polyether’s also known as polyoxyethylene groups, which are polymers of ethylene oxide.
- Geographically, Asia Pacific is poised to be the chief revenue generator for Polysorbate-80 market during the forecast period 2020-2025. This region is also set to grow at the highest CAGR during the forecast period (2020-2025).
- Rapid growth in the demand for PS80 owing to the rise demand for bio-based products as well as increasing awareness regarding the quality of skin care products is set to boost the growth
- Increasing microbiological activities in the biotechnological and research centers is a key factor influencing market growth for Polysorbate-80 market.
- According to The Food Associated Chambers of Commerce and Industry of India (ASSOCHAM), agriculture productivity in India is poised to increase in the future owing to higher usage of fertilizers and improvements in irrigation network. Growth in agriculture product also increases the demand for polysorbate.
By Source Type- Segment Analysis
The global polysorbate-80 market is segmented into; plants source, animal’s source & synthetic source. Plant source are divided into palm, olive, bay tree, and others. Animal sources can be further segmented into cow fat, sheep fat, pig fat, etc. The plant source was leading market in the year 2019 is set to grow with fastest CAGR of 5.2% during the forecast period 2020-2025.
By Application Type- Segment Analysis
The application type of Polysorbate-80 market covers Food and Beverages, Personal Care and Cosmetics, and Pharmaceuticals. The food and beverage segment is poised to lead in terms of the market share during the forecast period 2020-2025 and is the major growth driver of the market. Followed by food, the personal care segment accounts for major of the share in the market and is poised to 4.93% for the forecast period 2020-2025. In addition, the Pharmaceuticals segment is poised to be the fastest-growing segment during the forecast period 2020-2025.
By Geography – Segment Analysis
Asia Pacific dominated PolySorbate-80 Market with global Market share of 42% in 2019. China, India, Japan, and South Korea are the major consumers of Polysorbate-80 in this region. This high demand is mainly attributed owing to the growing affluence of the middle-class population in this region, coupled with rapid urbanization that has further led to rise in consumerism opportunities, which ultimately drives the Polysorbate-80 market in this country.
Drivers – Polysorbate-80 market
- Rise in Demand for Bio-Products
The continuous rise in demand from the end-use industry such as pharmaceuticals, food & beverages, personal care & cosmetics, plays a vital role in the growth of the global polysorbate market. The market is also poised to experience huge demands for the bio-based products, for the forecast period 2020-2025 and contribute to the growth of the global polysorbate market. An increase in the awareness about the use of quality skincare products is poised to be a major driver for the industry. Polysorbate-80 is extracted from natural sources such as turkey-red oil and coconut oil.
Challenges – Polysorbate-80 market
- Cheap Alternative
The Availability of cheap and synthetic substitutes, mainly in the form of borax & sodium borate could act as a potential threat for the market globally. In addition to this, since Polysorbate-80 extracted from natural sources, the Depletion of such natural resources owing to be a major constraint for the market globally. Polysorbate-80 in some case has caused skin irritation and other minor skin disorders owe to act as a challenge for this market.
Polysorbate-80 industry outlook:
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Polysorbate-80 market. Key companies of this market are Assmang Proprietary Ltd., Carus Corporation, Consolidated Minerals Limited, Compania Minera Aultan, S.A.B De C.V., Eramet SA, ERACHEM Comilog, Inc., Eurasian Natural Resources Corporation Limited and Gulf Polysorbate 80 Corporation Limited among other notable players.
- In January 2018, PolyOne Corporation acquired the IQAP Master batch Group S.L., a privately owned and innovative provider based in Spain with customers throughout Europe.
- In January 2018, Clariant Ag opened its new state-of-the-art masterbatch production site in Yanbu, Saudi Arabia.