Sucrose Esters Market size is estimated to reach $111.9M by 2025 and is poised to grow at a CAGR of 6.35% during the forecast period 2020-2025. Sucrose esters are obtained by esterifying sucrose with palm oil from edible fatty acids. This allows them to be used as emulsifiers in almost all food formulations. In addition to emulsification, sucrose esters have other functions, including aeration, texturing, and protein protection, and fat or sugar crystallization. The increasing trend in spending on convenience foods in developing countries and the multifunctional properties of sucrose esters are factors that are projected to support market growth over the forecast period (2020-2025). The Asia-Pacific region is likely to be in huge demand owing to high demand for food applications and increased use of body care products leading to the market in this area.
- Geographically, The European market is projected to dominate over the forecast period 2020-2025, owing to the large-scale production and consumption of dairy and confectionery products.
- Growing trend for ready-to-eat products boosts global market for sucrose esters in emerging and developed countries over the forecast period 2020-2025.
- The cost of reactants during the formulation process of sucrose is hampering the growth of the market over the forecast period 2020-2025.
- Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Sucrose Esters Market report.
By Form- Segment Analysis
The global Sucrose Esters market based on the form has Powder, Liquid and Pellet. The powder segment held largest in market share in 2019, and is set to continue over the forecast period 2020-2025. This is owing to its properties such as uniform mixing with additional ingredients at the time of processing. In addition, the willingness of food and beverage manufacturers to produce innovative products is another factor that is set to increase the powder segment of the sucrose esters market over the forecast period 2020-2025.
By Application– Segment Analysis
Based on Application, the market is classified into Food, Personal care products, Detergents & Cleansers, Others. The Food segment accounted for the largest share in 2019, it is set to grow over the forecast period (2020-2025). This is owing to various applications such as, bakery products, dairy products, and others. It is often used as a low-fat alternative to maximize the mouthfeel provided by fats. The Cosmetics segment is projected to rise over the forecast period 2020-2025. The use of sucrose esters in cosmetic products improves the softness of the skin and results in a thin layer on the skin, which leads to adequate moisture retention. Sucrose esters can add more light to the lipstick and improve its creamy color. These factors are projected to increase the demand for sucrose esters in the cosmetics industry.
By Geography – Segment Analysis
The European market has the largest market share in 2019, and is projected to continue. The market dominance of this region is attributed to factors such as the widespread production and consumption of bakery, dairy and confectionery products in the region, which encourages food and beverage producers to focus on product innovation. The rising awareness among the consumers has led to the increased inclination of manufacturers to comply with the standards introduced by the Europe, thereby encouraging the market growth in Europe.
Drivers – Sucrose Esters Market
- Increase in Health awareness
Consumers are becoming healthier and more cautious about consuming food, whether baked goods, sweets, dairy products, cereals and other foods. Sucrose ester not only has emulsifying properties, but also able to replace fat or serve as a low fat alternative. This is one of the critical factors, likely to contribute the demand for sucrose ester in the food and beverage industry.
Challenges – Sucrose Esters Market
- High cost
The main challenge of this market is the cost of reactants during the formulation process of sucrose is poised to affect the expansion of the market. This is set to hinder market growth over the forecast period (2020-2025). The availability of the alternatives such as sorbitan esters, lecithin is presumed to limit the growth of the market.
Sucrose Esters Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Sucrose Esters Market. Key companies of this market include BASF, Evonik Industries, P&G Chemicals, Croda International, Mitsubishi Chemicals, Sisterna, Stearinerie Dubois, Dai-Ichi Kogyo Seiyaku, Alfa Chemicals, FELDA IFFCO, World Chem Industries, Compass Foods, and Zhejiang Synose Tech.
- In October 2019, Evonik Industries (Germany) has launched Tego SP 13 Sun Up in its sucrose ester product portfolio, “Tego”, as it incorporates sunscreen that is inherently waterproof and resistant to perspiration from physical exercise, including water sports.
- In January 2019, BASF (Germany) launched Emulgade Sucro Plus, a skincare product that contains organic and natural ingredients.