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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Sorbitan Monostearate Market Outlook
The global sorbitan monostearate market is expected to grow at a CAGR of 5% in the forecast period of 2024-2032.
The market is being driven by the amplifying demand for the food grade segment of the product, owing to the booming bakery and dairy industry. The product is used in the sector as a stabilizing agent for various food products.
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Rising Demand from North America and the Asia Pacific Bolstering the Market Growth
North America and the Asia Pacific are significant sorbitan monostearate markets and are expected to significantly contribute to the market growth in the forecast period. The Asia Pacific region is bolstered by the rising demand for the product owing to changing lifestyles, increasing per capita incomes, and growing urbanisation. The growing consumption of baked and western sweets is expected to enhance the market growth for sorbitan monostearate in the Asia Pacific. The rising demand for pharmaceutical products and cosmetics is expected to enhance the market growth further in North America and the Asia Pacific as consumers are becoming more aware regarding the launch of new beauty products on digital platforms.
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Sorbitan Monostearate: Market Segmentation
Sorbitan Monostearate is an ester of stearic acid and sorbitol derivative that is used in the manufacturing of healthcare and food products.
On the basis of type, the market is divided into:
- Food Grade
- Industrial Grade
- Medicine Grade
Based on application, the industry can be segmented into:
- Dietary Food Supplements
- Pesticides
- Cosmetics
- Pharmaceuticals
- Bakery and Confectionery
- Coating and Plastics
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Demand from the Pharmaceutical and Cosmetic Industries to Drive the Global Sorbitan Monostearate Market
The demand for sorbitan monostearate is increasing due to the expanding pharmaceutical and cosmetic industries. The product is used in the pharmaceutical industry for suspension and emulsification processes. It has gained popularity in the personal care and cosmetics industry due to its extensive applications in a wide product range, such as shampoos, hair care, powders, skincare, deodorants, makeup bases, and foundations. This will further support the market growth in the forecast period. Further, the market is aided by the rising use of sorbitan monostearate in the food industry where the product is used as an emulsifying as well as a stabilising agent. Moreover, owing to ongoing research, the medicine grade segment is expected to witness a healthy growth in the forecast period.
Key Industry Players in the Global Sorbitan Monostearate Market
The report gives a detailed analysis of the following key players in the global sorbitan monostearate market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Kao Corporation
- Henan Honest Foods Co. Ltd.
- Hangzhou Fuchun Food Additive Co. Ltd
- Jeevika Yugchem Pvt. Ltd.
- Guangdong Runhua Chemistry Co., Ltd.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 5% between 2024 and 2032.
The major drivers of the industry such as rising disposable incomes, rapid urbanisation, growing demand for baked goods, and rising demand from the application segments, are expected to aid the market growth.
The key trends guiding the growth of the market include the rising R&D activities involving the product’s use in the medical sector.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading types of the product in the market are food grade, industrial grade, and medicine grade.
The major application segments in the market are dietary food supplements, pesticides, cosmetics, pharmaceuticals, bakery and confectionery, and coating and plastics, among others.
The major players in the industry are 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.
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