According to a new market report published by Credence Research Inc., “Emulsifiers Market by Product Type (Lecithins, Mono & Di - glycerides of fatty acid, Esters of monoglycerides of fatty acids, Polysorbates, Polyglycerol Esters, Polyglycerol polyricinoleate and Lactic esters of Fatty Acids) by End Use Type (Personal Care & Cosmetics, Food & Beverages, Pharmaceuticals and Others (Agrochemicals, Oilfield Chemicals, Etc)” - Growth, Future Prospects, Competitive Analysis and Forecast, 2016 – 2023”, the worldwide emulsifiers market was valued at US$ 7,271.2 Mn in 2015. In the same year, in terms of volume the market was 2,593.5 thousand tons.
Market Insights
The global market for emulsifiers is witnessing growth on the ground of rising demand from various end users application segments. The food industry is the largest application of emulsifiers. This is due to rise in demand for packaged and convenience foods; especially in emerging markets such as Asia Pacific and the Middle East.
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Owing to its multi functionality as it provides stabilization, increases softness and enhances the shelf life of the product, emulsifiers are also widely used in personal care products. Emulsifiers are used in skin care products, makeup bases and foundations, shampoos and fragrance powders among others. Furthermore, the expanding application scope for emulsifiers is projected to open new avenues for emulsifiers manufactures.
By geography, Europe is the largest market and accounted for 32.9% share of the market pie in terms of demand in 2015. The market for emulsifiers in Europe is witnessing growth due to rising demand from various end user applications such as cosmetics & personal care, food and oilfield chemicals among others. Asia-Pacific is projected to be the fastest growing market on account of flourishing food processing industry, rise in disposable income and increasing awareness about the benefits of emulsifiers among others.
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Competitive Insights:
The market is highly competitive due to presence of large multinationals. Product differentiation plays a vital role to create brand loyalty among customers and to perceive potential customers. Companies are also focusing on investing in R&D for improvement of functionalities of their various synthetic emulsifier products. Danisco, BASF SE, Cargill Inc., Archer Daniels Midland Co. and Lonza Group Ltd. are some of the prominent players present in this market.
Key Trends:
- Focus on niche application area for emulsifiers
- Untapped and emerging regions provides huge market potential
- Product differentiation plays a vital role to create brand loyalty
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