Sorbitan ester market to grow to $1.7 billion by 2033: Driven by vegan trends and expanding cosmetic applications

According to the latest market research conducted by FMI, the global sorbitan ester market is expected to register a CAGR of 5.6% from 2023 to 2033. In 2023, the market size is expected to reach a valuation of USD 986.40 million. By 2033, the valuation is expected to reach USD 1,703.1 million.

Sorbitan esters are basically artificial sweeteners made by condensing sorbitol with common fatty acids such as palmitic, stearic, lauric and oleic acids. In order to create emulsions, creams and ointments for use in cosmetic and medicinal products, sorbitan esters are used as emulsifying agents. They come in numerous forms, including paste, liquid, semi-solid and solid.

The demand for sorbitan esters has been subtly boosted by the apparent population preference for vegan products. With a smaller market share than the food industry, the cosmetics sector is expected to make a significant contribution to the market growth.

The prevalence of numerous bakeries that emphasize the importance of home and organic preparation methods is driving market growth. In addition, the popularity of bread in many countries has encouraged commercial expansion.

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Competitive background:

The key players operating in the sorbitan esters market are investing in mergers and acquisitions to gain significant market share. Manufacturers are also investing in research and development and adopting innovative methods to increase production capacity. Product development and market expansion are significant aspects of the sorbitan esters market. As a result, the market players are likely to enjoy a better overall revenue share in the global sorbitan esters market.

Key conclusions:

• The sorbitan esters market is expected to record a compound annual growth rate (CAGR) of 6% until 2033.
• FMI forecasts that by 2033 the value of the sorbitan esters market in the United States will reach USD 346.67 million.
• The sorbitan esters market value is expected to exceed USD 1,703.1 million by 2033.
• The increasing spending by large companies on research and development to create new products is likely to drive market growth.
• FMI forecasts that by 2033 the UK sorbitan esters market will be worth $65.52 million.
• The sorbitan tristearate segment is expected to hold a dominant share 8%the total sorbitan esters market by 2033.
• The sorbitan esters market value is expected to reach USD 986.40 million in 2023.
• The sorbitan esters market recorded a CAGR of 2% during 2018–2022.
• FMI forecasts that by 2033 the value of the sorbitan esters market in China will reach USD 146.64 million.
• The food segment is expected to register a CAGR of 3% in 2023.

Competitive environment

In order to diversify their product offerings and meet the wide range of applications of sorbitan esters, prominent companies operating in the global sorbitan esters market are investing in research and development. In particular, companies are forming strategic alliances, partnerships, mergers and acquisitions to improve their distribution networks and increase their production capacities.

For example:

Domus Chemical SpA, a manufacturer of premium specialty esters and emollients, completed the acquisition of the company’s body care business in May 2018, according to a statement from Sabo SpA.

Major players on the market

• Danisco
• Merck KGaA
• Oleon, Nevada
• Ivanhoe Industries, Inc.
• Vantage Specialty Chemicals, Inc.
• LEUNA-Tenside GmbH
• Derivan Union
• SA, Sabo SpA
• SEPTICIAN
• Ethox Chemicals, LLC
• Mosselman is
• Lonza AG
• Penta Manufacturing Company
• Laseror Emul, SL

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Sorbitan Esters Market by Category

By product type:

• Sorbitan Tristearate
• Sorbitan monostearate
• Sorbitan monooleate
• Sorbitan Trioleate
• Sorbitan monopalmitate
• Sorbitan monolaurate
• Sorbitan sesquioleate

By application:

• Cosmetics and personal care products
  • face care
  • Body care
  • Others
• Food and beverage processing
  • Confectionery
  • Bakery
  • Oils and fats
  • Alkohol free drinks
  • Alcoholic drinks
  • Soups, sauces and dressings
• Pharmaceutical products
• greases and waxes
• Animal Nutrition and Pet Food
• Industrial
• Textiles

By form:

• Liquid
• Solid/Powder
• Semi-solid/Paste

By class:

• Food quality
• Industrial grade
• Pharmaceutical grade

By region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner and member of the Greater New York Chamber of Commerce) offers in-depth insights into the factors driving market demand. FMI is a leading global provider of market intelligence, advisory services, consulting and events for the packaging, food and beverage, consumer technology, healthcare, industrial and chemical markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional and local expertise on various industry disciplines and trends in over 110 countries.

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