The global sucrose esters market size is projected to grow from USD 76 million in 2019 to USD 106 million by 2025, recording a compound annual growth rate (CAGR) of 5.7% during the forecast period. The increasing trend of spending on consuming convenience food products in developing countries and multifunctional properties of sucrose esters are factors that are projected to drive the growth of the sucrose esters market. Furthermore, consumers are shifting toward dairy alternatives, which is also projected to drive the market growth.
Key sucrose esters players include BASF (Germany), Evonik Industries (Germany), P&G Chemicals (US), Croda International (UK), Mitsubishi Chemicals (Japan), Sisterna (Netherlands), Stearinerie Dubois (France), Dai-Ichi Kogyo Seiyaku (Japan), Alfa Chemicals (UK), FELDA IFFCO (US), Adana Food Tech (China), and Alchemy Ingredients (UK). New product launches were the dominant strategies adopted by major players, followed by expansions. These strategies have helped them to increase their presence in different regions.
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The Asia Pacific region is projected to be the fastest-growing market for sucrose esters during the forecast period. The region witnesses a high demand for sucrose esters in dairy products, confectioneries, and bakery products. Furthermore, the rise in awareness about the functional benefits of sucrose esters has led to an increase in their usage in the personal care products segment. They help in improving the sensory properties of oil and natural butter, which has contributed to the growth of the sucrose esters market in countries, such as China, Japan, and India.
Sucrose esters are witnessing a surge in applications, such as bakery products, confectioneries, cereals, dairy products, meat products, and soups & sauces. They are often used as a low-fat alternative to maximize the mouthfeel provided by fats. Besides emulsification, sucrose esters have functions, such as aeration, texturizing, protein protection, and sugar crystallization, thereby increasing their consumption in the food industry.
The usage of sucrose esters is on the rise in cosmetic products, as they help to thicken the oil and silicon oil used for manufacturing cosmetic products. The usage of sucrose esters in cosmetic products improves skin softness and imparts a thin film over the skin, leading to the retention of adequate moisture. Sucrose esters can provide more gloss to lipstick and improve its creaminess. These factors are projected to drive the demand for sucrose esters in the cosmetic industry.