Mar 26, 2021: Global Fatty Acid Esters market was valued at USD 1,830.2 million in 2014 and is expected to reach USD 2.44 billion by 2022, with a CAGR of 4.6%. Fatty Acid Ester market is expected to witness robust growth over the forecast period owing to the increasing demand in the food industry, cosmetics, and personal care. In the food industry, Medium chain triglycerides (MCT) are used in weight loss programs as they have fat-burning properties and low calorific content.
The
market is highly competitive in nature as the players in order to increase
their market share are adopting certain strategies such as new product
development and collaborations. In April 2016, according to the journal of food
science, a series of novel I-ascorbyl fatty acid esters were synthesized by
catalization of Novozyme 435 using electrospray ionization mass spectra,
ultrasonic irradiation, nuclear magnetic resonance and spectroscopy. In 2014,
the FDA approved Epanova (omega-3-carboxylic acids) manufactured by
AstraZeneca. The drug is used for the treatment of hypertriglyceridemia
containing fish-oil derivative free fatty acid.
Download sample Copy of This Report at: https://www.millioninsights.com/industry-reports/fatty-acid-esters-market/request-sample
In
addition, FEAs such as polyols esters and emollient are gaining importance as
they have a positive impact on the growth of bio-based and natural ingredients
in personal care and cosmetic industry. The natural ingredients used in lotions
and creams for infant care, hair, and skin, helps in substituting synthetic and
toxic chemicals which are harmful for the personal use. Also, the fatty acid
ester from natural ingredients are inexpensive as compared petroleum-based and
synthetic chemicals. The manufacturers and consumers are progressively adopting
these products so as to prevent from high production cost and various climatic
changes.
The
use of fatty acid ester in various applications is presumed to boost the market
growth. The applications include surfactants & detergents, personal care
& cosmetics, food processing, lubricants and pharmaceuticals and
construction industries. Personal care & cosmetics is projected to hold the
largest market share owing to the increased functionality and eco-profile
product. Therefore, resulting in high demand in niche applications such as
water solubility, thickening, and anti-irritant agent. Food industry is
estimated to have tremendous growth in coming six years owing to the increasing
consumption of these esters in various processed foods.
Read Complete Report With TOC @ https://www.millioninsights.com/industry-reports/fatty-acid-esters-market
The
rising obesity and growing concern related to beauty and fitness are the
factors projected to stimulate the market growth. Moreover, the regulatory
policies and escalating consumer awareness level regarding bio-based products
and polymers are the key factors presumed to drive the development of this
industry. Technological advancement is one of the vital factors expected to
increase the efficiency and production of FEAs owing to genetic engineering.
Furthermore, the evolving fatty profiles of vegetable oils such as sunflower
oil, palm oil and canola and the introduction of high-yielding crops are
estimated to escalate the production of FEAs.
The
increasing entrenched oil consumption due to the proliferation of processed
fried foods is anticipated to drive the demand in food industries. In addition,
rising living standards and declining edible oil prices are other drivers
projected to fuel the growth of global fatty acid ester market. The market on
the basis of the product is segmented into isopropyl esters (isopropyl
myristate and isopropyl palmitate), glycerol monostearate (GMS), medium chain
triglycerides (MCT), and other esters such as sucrose, polyol, and emollient.
GMS is expected to hold the largest market share owing to the high usage in
food industry mainly for frozen foods and ice creams as thickening agent and
emulsifiers.
MCT
is estimated to be the fastest growing segment owing to the low-calorie
content. Furthermore, the reduced chain length of the product promotes quicker
metabolism and contributes to accelerating the demand for weight loss programs
across the globe. Isopropyl palmitate is expected to grow at a significant pace
owing to the rising demand in the cosmetic industry.
Geographically,
the key regions identified in this industry are North America, Europe,
Asia-Pacific, Latin America and the Middle East and Africa. North America is
estimated to dominate the market followed by Europe owing to the high consumer
awareness level regarding beauty and fitness. In addition increasing adoption
of MCT is projected to have a positive impact on the market growth. Asia
Pacific is expected to witness the fastest growth over the decade owing to the
rising disposable income in this region. This has led to increasing consumption
of fatty and processed foods.
The
key players in this industry include DuPont, P&G Chemicals, Evonik
Industries, Cargill Inc., Estelle Chemicals Pvt. Ltd., Fine Organics, Stepan
Company, KLK Oleo, The Seydel Companies and World Chem Industries. Other
prominent players are A.B. Enterprises, Zhengzhou Yi Bang Industry Co. Ltd.,
Metroshen International Corporation, Faci Asia Pacific Pte. Ltd, and Oleon N.V.
Get in touch
At Million Insights, we work with the aim to reach the highest levels
of customer satisfaction. Our representatives strive to understand diverse
client requirements and cater to the same with the most innovative and
functional solutions.
Contact Person:
Ryan Manuel
Research Support Specialist, USA
Email: ryan@millioninsights.com
Global
Headquarters
Million Insights
Felton Office Plaza 6265 Highway
9 Felton, California 95018, United States
Phone: 1-408-610-2300
Email: sales@millioninsights.com
Asia Pacific
Million Insights
Office No. 302, 3rd Floor,
Manikchand Galleria, Model Colony, Shivaji Nagar, Pune, MH, 411016 India
Phone: 91-20-65300184
