Persistence Market Research Indicates Dominance of Food & Beverage Applications; Key Players Aspire to Express a Strong Foothold in Emerging Asian Markets.
The US$ 3.5 Bn global emulsifiers market is projected to reach around US$ 6.0 Bn by the end of 2024. Persistence Market Research estimates the market to expand at a moderate yet promising CAGR of 6% over 2016-2024.
The reigning markets in Europe and North America will continue to rule the roost throughout the assessment period. APAC will emerge lucrative at a CAGR of 7.4%.
Europe will remain the largest market for emulsifiers owing to a host of end-user applications, such as food and beverages, personal care and cosmetics, and oilfield chemicals. North America, precisely the U.S., will remain the next key market owing to dense presence of affluent consumers.
APAC represents the most rapidly emerging market, attributed to lucrative opportunities and growing need for packaged and convenience food products. China, especially witnesses an exploding demand for frozen meat products, fueling the market for emulsifiers. MEA, backed by an army of a few prominent countries, will witness a surge in revenue sales.
After successfully foraying the European and North American markets, leading companies are now eyeing Asian markets, identified to be the most lucrative, ripe, and open investment destinations for manufacturers. Several virgin markets across APAC are supported well by their respective governments, eventually opening new paths for emulsifier producers.
Multi-functionality of emulsifiers compels adoption in a gamut of application sectors. Food and beverages continue to hold a major revenue share by 2024 end, expanding at a CAGR of 6.3%. Personal care segment will remain a big buyer of emulsifiers.
The food emulsifiers market is currently one of the fastest-growing food-additives market segments. Bakery and confectionary, beverages, and dairy are among the top three end-user sectors of emulsifiers, within the food and beverages vertical. Personal care products and cosmetics, including skin care products, shampoos, foundations, makeup bases, and fragrance powders, will remain major consumers of emulsifiers.
Persistence Market Research identifies the top trends expected to drive the market for emulsifiers in food and beverages industry, set to account for over US$ 2.0 Bn in 2016.
- Expanding cluster of health-conscious consumers
- Growing demand for low-calorie, low-fat, trans-fat-free, nutrition-rich foods and beverages
- Rising consumption by food processing companies in order to produce enduring, cost-effective products, avoiding harsh post-processing effects
- Apart from Di-Glycerides and Lecithins, Sorbitan esters are among the most preferred ones
- Manufacturers are focusing more in exploring niche application areas for emulsifiers
Natural emulsifiers segment highlights a wealth of opportunities in near future.
Naturally sourced emulsifiers will remain a long-term trend shaping up the demand, based on the consumer shift to processed foods containing natural, organic emulsifying agents.
Key market players gear-up for expansion in emerging economies.
Some of the leading companies in the global emulsifiers market are Cargill Incorporated, Puratos Group, The Dow Chemical Company, BASF SE, The Lubrizol Corporation, Koninklijke DSM N.V, Kerry Group, Palsgaard A/S, Stepan Company, and The Spartan Chemical Company.
The information presented here is sourced from Persistence Market Research latest report TOC on the global emulsifiers market. A is available upon request.