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Global Sorbitan Monostearate Market to Grow at a CAGR of 5% During 2021-2026, Aided by the Rising Demand from the Food Industry

According to a new report by EMR titled, 'Global Sorbitan Monostearate Market Report and Forecast 2021-2026', the global market for sorbitan monostearate is expected to grow at a CAGR of 5% in the forecast period of 2021-2026.

The global sorbitan monostearate industry is being driven by the rising demand from the food industry. The key players, such as Hangzhou Fuchun Food Additive Co. Ltd, offer a wide range of products formulated with the help of sorbitan monostearate, namely, dry yeast, margarine, shortening, whipping cream, and coffee mate, among others. The product application varies from item to item, like in cake, sorbitan monostearate promotes enlargement of the cake volume, improvement of cake texture, and prolonged shelf life. The main role of sorbitan monostearate largely remains the same in the bakery and dairy products, including good for water-in-oil type emulsifier and strong emulsifying dispersion and wetting effect.

The Asia Pacific region is a significant market for sorbitan monostearate as the region is highly receptive to the products offered by new brands in cosmetics and pharmaceuticals. The regional market is also supported by the rising inclination towards bakery products, promoted through aggressive marketing on digital platforms. Further, factors such as increasing disposable incomes, enhancing living standards, and growing urbanisation are positively influencing the market growth of sorbitan monostearate in the Asia Pacific. In addition, the rising penetration of distribution channels such as Amazon (NASDAQ: AMZN) and Walmart (NYSE: WMT) are further contributing to the growth of the sorbitan monostearate industry. These platforms offer lucrative deals on several cosmetic, pharmaceutical, and food products consisting of sorbitan monostearate. As the demand for these products increases, the market is expected to grow likewise.

Market Analysis by Type, Application, and Region:

  • The sorbitan monostearate industry, on the basis of type, is divided into food grade, industrial grade, and medicine grade.
  • The market is segmented on the basis of application into dietary food supplements, pesticides, cosmetics, pharmaceutical, bakery and confectionery, coating and plastics, and others.
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of The Report:

  • The global sorbitan monostearate industry is being driven by the changing lifestyles, increasing per capita incomes, and growing urbanisation.
  • The market is further aided by the thriving pharmaceutical and cosmetic industry as the product is used extensively in the formulation of an array of products, such as hair care, skincare, deodorants, powders, makeup bases, and others.
  • The rising food industry has a direct effect on the demand for the sorbitan monostearate, due to the extensive use of the product in the food industry as an emulsifying as well as stabilising agent.
  • Further, research and development in the industry are expected to support the market growth in the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for sorbitan monostearate for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) for the types, applications, and regional markets of the global sorbitan monostearate.
  • It gives an in-depth look at the regional price trends in the global sorbitan monostearate industry.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

Kao Corporation, Henan Honest Foods Co. Ltd., Hangzhou Fuchun Food Additive Co. Ltd, Jeevika Yugchem Pvt. Ltd., and Guangdong Runhua Chemistry Co., Ltd., among others, are the key players in the global sorbitan monostearate market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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