Sucrose Esters Market Size Worth $126.8 Million By 2028 | CAGR: 5.8%: Polaris Market Research

NEW YORK, June 16, 2021 /PRNewswire/ -- The global sucrose  esters market size is expected to reach USD 126.8 million by 2028 according to a new study conducted by Polaris Market Research. The market is anticipated to register a CAGR of 5.8% from 2021 to 2028. Growing consumer preference for ready-to-eat products in leading developing and developed economies across the globe is fostering market growth. In addition to this, the rise in the application scope of sucrose esters in various food products such as dairy, bakery, and meat products is turning out as a major boosting factor for the market. Furthermore, it's increasingly used by manufacturers as a conditioning agent and stabilizer providing an overall boost to the growth of the market.

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Key Highlights of Sucrose Esters Market

• The powder segment accounted for the largest share of the market and is anticipated to increase its share in the coming years. Increasing preference for powder form of sucrose esters due to its major functional properties such as sugar crystallization, emulsification, and aeration is a major factor for this segment's growth.
• The personal care & cosmetics segment dominated the sucrose esters market and is expected to increase its dominance during the forecast period. The segment's growth is attributed to increasing demand for sucrose esters owing to its key role in enhancing cosmetic products by boosting the sensory properties.
• The European region is projected to emerge as the major regional market for sucrose esters over the forecast period. The regional market is witnessing a rise in demand for sucrose esters in confectioneries, dairy products, and bakery products.
• The COVID-19 pandemic had an adverse effect on the food and beverages industry, which in turn slows down the development of the sucrose esters market. However, relaxation in lockdown across different parts of the world now allowing businesses to get back their operations on a normal track.

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Regional Developments

The regional market of North America is anticipated to experience exponential growth during the forecast period. This is on account of a huge rise in demand for natural products under the personal care and food products. On the other side, Europe is expected to garner the fastest growth rate and emerge as the major revenue-generating regional market, owing to the rapid development of bakery and personal care products. In addition to this, increasing investment by market players to enhance their product offerings is further complementing the growth of this region.

Competitive Outlook

Product developers are giving more emphasis on the usage of the sucrose ester as an emulsifier as well as a conditioning agent. This is fostering its demand substantially. Some of the leading market players operating in the sucrose esters market are 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.

Target Audience

• Supply Side: Chemical Company
• Demand Side: Food & Beverage Industry, Personal Care & Cosmetics
• Regulatory Side: Food and Drug Administration

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About Polaris Market Research

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SOURCE Polaris Market Research