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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Croda International (UK) is a leading company and manufacturer of sucrose ester products. It manufactures and develops a wide range of specialty chemicals, which increases the production of a range of products, such as health & beauty, engine lubricants, and plastic products. It operates through various business segments, such as personal care, performance technologies, life sciences, and industrial chemicals. The company offers sucrose esters through its personal care segment. For instance, in July 2019, Croda International launched a new ISO 16128 data online, which would help its consumers to search for organic and natural ingredients easily in cosmetic formulations.
Evonik Industries (Germany) is involved in the production and supply of specialty chemicals for the automotive, pharmaceuticals, cosmetics, plastic, and rubber industries. The company operates through major business segments, such as nutrition and care, resource efficiency, performance materials, and services, which include technology and infrastructure. It offers sucrose ester products through its nutrition and care segment. The company is a global player, as it has an active presence in more than 100 countries. Its production plants are located in 30 different countries. For instance, in October 2019, Evonik Industries launched Tego SP 13 Sun Up in its sucrose esters product portfolio, “Tego,” by incorporating sun protection, which is water-resistant in nature and can withstand sweating from physical exercise including water sports.
Sucrose Esters Market by Application (Food, Personal Care Products, Detergents & Cleaners), Form (Powder, Liquid, Pellet), and Region (North America, Europe, Asia Pacific, South America, Rest of the World) - Global Forecast to 2025
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