LONDON, May 30, 2016 /PRNewswire/ -- The global Fatty Acid Ester Market is expected to reach USD 2.44 billion by 2022, according to a new report by Grand View Research, Inc. Growing consumer awareness and regulatory policies regarding bio-based polymers and products are vital factors for industry development over the forecast period.
Global industry is expected to be driven by increasing fatty acid esters demand in personal care, cosmetics and food processing applications. Medium chain trigylcerides (MCT) have found headways in food applications where they are used in several weight loss programs owing to low calorific content and fat-burning properties.
Other FAEs such as emollient and polyols esters are gaining prominence in personal care applications that could impact product growth in cosmetics where natural, bio-based ingredients are substituting synthetic & toxic chemicals.
Further key findings from the report suggest:
Global Fatty Acid Ester Market size was 1,141.5 kilo tons in 2014 and is expected to reach 1,563.4 kilo tons by 2022, growing at a CAGR of 4.6% from 2015 to 2022.
Glycerol monostearate (GMS) was the largest product segment and accounted for 39.3% of total market volume in 2014. High demand for GMS as an emulsifying agent, protective coating agent and food additive in diverse processing and industrial applications has been a major factor for its growth.
Medium chain triglycerides (MCT) were the fastest growing product with high demand arising from expanding end-use industries in emerging economies such as China & India. The segment is likely to grow at an estimated CAGR of 5.3% in terms of demand.
Personal care & cosmetics was the leading application segment and accounted for 34.5% of total market volume in 2014. Rising consumer disposable income and growing consumer demand for natural ingredients are expected to remain key factors driving this segment over the forecast period.
North America was the leading regional market with demand share exceeding 35% in 2014. High consumer disposable income and increasing adoption of MCT in weight loss programs particularly in the U.S. has impacted the regional market.
Key companies operating in the global Fatty Acid Ester Market include Cargill, DuPont, Estelle Chemicals, P&G Chemicals, Stéarinerie Dubois, The Seydel Companies Inc., Evonik Industries and others such as Faci Asia Pacific Pte. Ltd., Fine Organics and KLK Oleo.
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