Market Trends of Polyglycerol Industry
This section covers the major market trends shaping the Polyglycerol Market according to our research experts:
Increasing Demand from Food & Beverage Industry Segment
- Global food & beverage industry is anticipated to grow at a CAGR of more than 8%, during the forecast period. Polyglycerol polyricinoleate, polyglycerol esters and polyglycerol sebacate are intensively used as additives, and emulsifiers in the food & beverage Industry.
- The global food additives market is projected to grow at a CAGR of more than 6%, during the forecast period. This is because of the rising demand for convenience and packaged foods, where polyglycerol derivatives as food additives, are used in a higher quantity.
- The global food emulsifiers market is projected to grow at a CAGR of about 6% during the forecast period. Emulsifiers are used in food technology to keep products moist or greasy (such as cakes and bread) or to mix fat-soluble substances with water, such as margarine.
- Major applications of the polyglycerol derivates are in flavors, baking, emulsified shortenings, salad dressings, icings, fillings, whipped toppings, etc.
- The food & beverage industry segment is expected to dominate the global polyglycerol market over the forecast period.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to be the dominant market in polyglycerol consumption. This is because the region dominates the market for the end-user industries such as food & beverage and cosmetics.
- The Asian food & beverage market is expected to grow at CAGR of more than 9%, during the forecast period, majorly driven by the increasing population and rising purchasing power. This in turn will create demand for polyglycerol derivatives, to be used as additives and emulsifiers in food & beverage industry.
- Emulsifiers derived from polyglycerols are also used as a raw material in cosmetic products. The Asian cosmetic market is gaining popularity worldwide and is expected to grow at a CAGR of 5%, during the forecast period. Japan, Singapore, South Korea Hong Kong, and China are amongst the top 10 global cosmetics exporters.
- Some of the major producers of polyglycerols operating in Asia-Pacific region are Mitsubishi Chemical Holdings Corporation and Estelle Chemicals Pvt. Ltd.
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