Sorbitan Monostearate Market Growth 2023 : Movements by Key Findings, Latest Trend Analysis, Progression Status, Revenue Expectation to 2031
- March 17, 2023
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The global Sorbitan Monostearate Market accounted for USD 5.99 Million in 2020 and is expected to reach USD 8.96 Million by 2028, growing at a CAGR of 5% from 2021 to 2028.
Sorbitan monostearate is a sorbitol derivative and stearic acid which is sometimes referred to as a synthetic wax. It is also known as ‘Spans’. Sorbitan monostearate is used in the manufacturing of healthcare and food products. It is used to make metal machining fluid, synthetic fibers, and brighteners within the tannery industry, and as an emulsifier in pesticides, coatings, and several other applications within the cosmetics industry and food industry. Sorbitan Monostearate is used as an artificial additive and has been approved by the European Union for its use. Sorbitan Monostearate alongside polysorbates is often used in icings, ice creams, fillings and chocolate. It is majorly used in cosmetic products such as cold creams, cleansing lotions, makeup foundations, sunscreen products, lipsticks, bath oils etc. Inconsistent prices of staples and side effects due to immoderate usage of Sorbitan Monostearate are the hindering factors for the worldwide Sorbitan Monostearate market.
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COVID-19 Impact Analysis:
The global Sorbitan Monostearate Market has witnessed a decrease in the sales for overall food and beverages products due to the lockdown enforcement placed by governments to contain COVID spreading. People had no option but to remain indoors, so the consumption of products be it cosmetics, food and personal care had decreased drastically. The restrictions imposed by various nations to contain COVID had stopped the production resulting in disruption across the whole supply chain. However, the world markets are slowly opening to their full potential, and theirs a surge in demand for Sorbitan Monostearate.
Sorbitan Monostearate Market: Growth Factors
The sorbitan monostearate market is primarily driven by expanding the food and cosmetic industry worldwide. High’s use of sorbitan monostearate as an emulsifier and thickening agent in the food and cosmetic industry is expected to boost the sorbitan monostearate market in the upcoming years. However, the presence of diverse alternatives for the sorbitan monostearate may hamper the growth of the sorbitan monostearate market in the coming years. Nonetheless, the huge demand for sorbitan monostearate from the food and coating industry is expected to offer ample opportunities for the sorbitan monostearate market in the foreseeable period.
Segment Analysis Preview
Based on food grade, the market is segmented as Sorbitan monostearate, industrial-grade sorbitan monostearate, and medicine-grade sorbitan monostearate. Based on application the sorbitan monostearate market can be segmented into food & Beverages, pharmaceuticals coating, cosmetics, and others. The food industry noted the major chunk of the total market followed by the cosmetic industry. The high use of sorbitan monostearate as an emulsifier and thickening agent in the food and cosmetic industry is expected to boost the sorbitan monostearate market in the upcoming years. The others segment includes pesticides, plastics, leather, and healthcare. Sorbitan monostearate is used as a brightener in the leather industry and an emulsifier in the preparation of pesticides. The coating industry is expected to witness noteworthy growth in the forecast period.
The report’s segments are:
This study provides historical data and revenue growth predictions at the global, regional, and national levels, as well as an analysis of market trends in each segment from 2021 to 2030. Reports and Data has divided the global Sorbitan Monostearate market by product type, application, and geography for this report:
By Product Type Outlook
● Sorbitan monostearate
● Industrial-grade sorbitan monostearate
● Medicine-grade sorbitan monostearate
By Application Outlook
● Food and Beverages
● Personal care products
Sorbitan Monostearate Market: Regional Analysis Preview
The global Sorbitan Monostearate market was ruled by the Asia Pacific in 2018. It added up to almost 50% share of the global Sorbitan Monostearate market. The rapidly escalating food industry along with the cosmetic industry in India contributes to the high growth of the market. There has been huge growth in the coating industry which is likely to spur the growth of the sorbitan monostearate market in India. Moreover, the presence of various players in the sorbitan glycerol market is expected to foster the market in India. Rising FDI and favorable government regulation for personal care products & pharmaceuticals divisions are likely to boost requirements in the Asia Pacific area.
Sorbitan Monostearate Market: Competitive Analysis
● World Chem Industries
● Estelle Chemicals Pvt.Ltd
● Plus Chem
● Akhil Healthcare
● Jeevika Yugchem Private Limited
● Mohini Organics Pvt Ltd
● Triveni Interchem Pvt. Ltd
● A.B Enterprises
● Fine Organics
● Krishna International
● Shree Chemicals Industries Pvt. Ltd
● Savannah Surfactants Ltd
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