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Report Overview: Fatty Acid Ester MarketThe global fatty acid ester market size was valued at USD 2.1 million in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 4.4% from 2021 to 2027. The growth in the market can be attributed to increased demand for fatty acid esters (FAEs) from various end-use industries, such as personal care, food processing, and pharmaceuticals. Rising geriatric population is expected to increase demand for natural ingredients, such as FAEs, in the pharmaceutical sector to treat gastrointestinal and other diseases. In addition, increasing demand for natural ingredients with low calorific content to promote weight loss and to adhere to the changing perceptions of beauty and appearance is expected to increase product consumption over the forecast period 2021-2027. Rising cases of obesity, particularly in the developed nations on account of sedentary lifestyles and growing dependence on technology, are likely to promote the product demand in the food processing industry. However, with the unprecedented outbreak of COVID-19, which has led to the closure of manufacturing sites and factories, there has also been a significant decline in demand for personal care & cosmetic products. Several plants have been shut down, which have impacted cosmetics production, especially in developed economies, thus hampering the product demand in the short run. On the other hand, growing demand for pharmaceutical products, surfactants & detergents, and essential food products, is estimated to boost the market growth in the near future.
Product Insights: Fatty Acid Ester MarketGlyceryl monostearate led the market and accounted for more than 36% of the overall share in 2019. It is primarily used in baked goods. It has high demand in ice creams and whipped cream processing as it provides a smooth texture to the final products. It is also widely used in pharmaceuticals sector to provide control release and in several other industrial applications in the form of emulsifier, thickening agent, preservative, and lubricant. This is expected to promote the segment growth over the forecast period. Medium Chain Triglycerides (MCT) emerged as the second-largest product segment, as MCTs improve stability and provide smooth texture to various personal care & cosmetic products. MCTs are also used in combination with prescription drugs to treat disorders, such as digestion problems, celiac and liver disease, steatorrhea (fat indigestion), and diarrhea. The product also plays an essential role in weight reduction by promoting calorie-burning. Isopropyl esters are mainly derived from palm oils, and products, such as palmitate and myristate, are widely used in personal care products due to moisturizing properties. Other esters, such as emollient, polyols, and sucrose are witnessing high growth in the global industry. Functional properties of the product are likely to boost its demand in several end-use industries, such as paper, pharmaceuticals, and food over the forecast period.
Application Insights: Fatty Acid Ester MarketPersonal care & cosmetics led the market and accounted for a share of more than 36% in 2019. Rising influence of social media is expected to be a major factor driving the growth of the personal care & cosmetics segment, thereby driving the product demand. In addition, favorable government support and schemes implemented to control obesity and related lifestyle diseases have led to increased use of medium chain triglycerides in processed food products. Surfactants & detergents is another significant application segment for the product. Rising demand for sustainable processes owing to increasing environmental concerns is expected to increase the product usage in this application to promote effective washing at lower temperature cycles, thereby promoting environmental benefits. The product plays an essential role in surfactants and detergents by breaking down the interface between oils/dirt and water, allowing effective cleansing with fewer resources. Moreover, stringent regulations regarding environmental preservation, rising construction spendings, and oil and gas production, coupled with a rebound in consumer spending on personal care products, are major driving factors for product demand in several end-use applications.
Regional Insights: Fatty Acid Ester MarketNorth America led the market and accounted for over 35.0% share of global revenue in 2019 and is expected to continue its dominance over the forecast period. High standards of living and increasing focus on beauty and appearance owing to social media influence, changing consumer perceptions, and transitioning promotional methods by major personal care companies are expected to drive product demand in this application segment. Rising sustainability & health concerns are also boosting the demand for natural ingredients and cosmetic products manufactured using fatty acid esters. APAC is estimated to be the fastest-growing regional market due to the high consumption of glyceryl monostearate in personal care & cosmetics products. Increasing industrial output and rising population, especially in China, India, and Southeast Asia, have driven the manufacturing and food processing industries sector in the region. This led to a high demand for natural & sustainable materials with application-specific properties.
Key Companies & Market Share Insights: Fatty Acid Ester MarketMajor manufacturers are actively indulging in product & technology innovations, R&D initiatives, and industrial collaborations to expand their product portfolios and increase their geographical reach. Rapid depletion of non-renewable resources and the implementation of stringent government regulations are expected to increase demand for sustainable and biodegradable products, such as FAEs, in several end-use applications, thereby supporting market growth. The independent manufacturers in the market provide fatty acids to product manufacturers through a wide distribution network. Rising demand for oleochemicals due to low toxicity, higher sustainability, and increasing environmental concerns is expected to increase strategic alliances and partnerships among fatty acid and ester industry participants, thereby increasing their customer base and global presence. Some of the prominent players in the fatty acid ester market include:
Key companies Profiled: Fatty Acid Ester Market Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. Trusted Business Insights has segmented the global fatty acid ester market report on the basis of product, application, and region:
- Cargill, Inc
- Evonik Industries
- Estelle Chemicals Pvt. Ltd.
- Faci Asia Pacific Pte. Ltd.
- P&G Chemicals
- The Seydel Companies Inc.
- Fine Organics
- Oleon N.V.
- KLK Oleo
- World Chem Industries
- Stepan Company
- Stéarinerie Dubois
- Metroshen International Corporation
- Zhengzhou Yi Bang Industry Co. Ltd.
- A.B. Enterprises
Product Outlook (Volume, Tons; Revenue, USD Thousand, 2016 - 2027)
- Medium Chain Triglycerides (MCT)
- Glyceryl Monostearate
- Isopropyl Esters
- Polyol Esters
- Sucrose Esters
- Glycol Esters
Application Outlook (Volume, Tons; Revenue, USD Thousand, 2016 - 2027)
- Personal Care & Cosmetics
- Food Processing
- Surfactants & Detergents
Table of Contents Chapter 1 Methodology and Scope 1.1 Market Segmentation & Scope 1.2 Market Definition 1.3 Information Procurement 1.3.1 Purchased Database(Statista, FactSet, Bloomberg, SDC Platinum) 1.3.2 IFF Internal Database 1.3.3 Secondary Sources 1.3.4 Third Party Perspective 1.3.5 Primary Research 1.3.6 Primary Sources 1.4 Information Analysis 1.4.1 Data Analysis Models | read more...