The global sucrose esters market size was valued at USD 81.9 million in 2020 and is expected to grow at a CAGR of 5.8% during the forecast period. The significant growth in demand for convenience food across the globe is expected to fuel the growth of this market. There has been increased consumption of fast food, especially in developing economies, owing to the adoption of the western lifestyle, and rising disposable income of consumers, thereby supporting the growth of the sucrose esters market.
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The increasing population, sedentary lifestyle of consumers, and rising demand from the personal care industry further drive the market growth for sucrose esters. Market players are increasingly introducing food products with low-fat content and additional health benefits to cater to the growing consumer demands.
There has been significant growth in demand for sucrose esters from the food and beverage sector. Sucrose esters are widely used as emulsifiers, solvents, and aeration agents in a range of food and beverages. Increasing disposable income and changing lifestyles of consumers have increased the demand for baked goods, meat products, soups and sauces, confectionery, and dairy products among others, thereby increasing the demand for sucrose esters.
Sucrose esters are also used in food products to enhance the solubility of fats and flavors, improve the texture and tenderness of dairy products and sauces, and impede staling of starch. It forms a major component in canned goods and a wide range of bakery products. Sucrose esters act as a crystallization accelerator in confectionery and enhance crumb texture in baked goods.
The growing population, sedentary lifestyle of consumers, and growing trend towards the use of dairy products drive the growth of this market. There has been an increased awareness among consumers regarding health concerns and nutritional needs, supplementing the growth of this market.
Increasing application in cleaning products and chemicals further boosts the market growth. New product launches and acquisitions by leading players in the market coupled with technological advancements and increasing demand from emerging economies have increased the demand for sucrose esters.
Sucrose esters are increasingly being used as emulsifiers and solvents in personal care and cosmetics products such as lotions, creams, and foundations among others. Sucrose esters also impart moisturizing properties and anti-microbial properties to personal care products. The increasing awareness regarding the use of natural and organic products boosts the growth of the market.
The growing inclination of consumers towards beauty trends and concerns and the introduction of innovative personal care products in the market at competitive prices by market players further augment market growth.
Increased preference among consumers to purchase these products through online platforms has encouraged many new market entrants to launch their e-commerce sites. The emerging trend of e-commerce coupled with the growing penetration of smartphones is anticipated to drive the sales of personal care and cosmetics products, further fueling the market growth for sucrose esters.
The market is primarily segmented on the basis of form, end-use, function, and region.
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On the basis of form, the market is segmented into liquid, powder, and pellet. The demand for powdered sucrose esters is expected to be high during the forecast period owing to increasing use in food and beverages. Powdered sucrose esters are being widely used in food products such as baked goods and meat products owing to properties such as thermal stability, pH stability, ease of use, functional benefits, and increased shelf life.
On the basis of function, the market is segmented into controlled sugar crystallization, protein & starch interaction, antimicrobial property, aeration, emulsification, and others. Sucrose esters are used as an emulsifying agent in a wide range of products such as desserts, soups, syrups, among others. Sucrose esters are used for extending the shelf life of products and providing greater stability.
The end-use segment has been bifurcated into food & beverages, cleaning agents & detergents, personal care & cosmetics, and others. The demand from the food and beverages segment is expected to be high during the forecast period. Increasing use in meat products, confectionery, and dairy products for enhanced texture and superior mouthfeel supports the growth of this segment.
The sedentary lifestyle of consumers is encouraging them to consume convenience food and meal replacements to stay healthy. Increasing disposable incomes in developing countries, and rising awareness associated with the health benefits of sucrose esters further foster the market growth.
Europe dominated the global market for sucrose esters in 2020. Increasing urbanization, growing consumption of convenience food, shifting trends towards nutrition and wellness, and rising production of bakery and dairy products are some factors attributing to the growth of this regional segment. The high disposable income of consumers and increasing application in pet food also drive the market growth in this region.
The leading players in the sucrose esters market include Evonik Industries, Sisterna, P&G Chemicals, Mitsubishi Chemical Holdings Corporation, World Chem Industries, BASF, Adana Food Tech, Croda International, Alfa Chemicals, Stearinerie Dubois, Compass Foods, Alchemy Ingredients, and Zhejiang Synose Tech.