The global sodium stearoyl lactylates market size is expected to develop at a CAGR of 7.1% from 2022 to 2032. The market is projected to reach a valuation of approximately US$ 498.7 Million by 2032. The global sodium stearoyl lactylates market is anticipated to be valued at US$ 309.3 Million in 2022.
With radical improvements in the global economy, there has been a significant surge in the per capita disposable income of consumers across the globe. Growing trends of globalization and urbanization in the majority of countries worldwide and increasing awareness regarding the availability of a wide variety of new flavors for food & beverages are expected to boost the global sodium stearoyl lactylate market in the forecast period.
High demand for ready-to-eat food products and increasing popularity of the dine-out trend in various parts of the globe, especially among the millennial population, are anticipated to augur well for the sodium stearoyl lactylates market in the evaluation period. With rapid growth of the food & beverages sector, especially the bakery & confectionery and processed food industries, the demand for sodium stearoyl lactylate is likely to grow at a fast pace in the upcoming decade.
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Key Takeaways from Sodium Stearoyl Lactylate Market Study
- By nature, the natural segment is set to witness a prominent CAGR of 7.4% from 2022 to 2032 to reach a valuation of US$ 498.7 Mn in 2032.
- Based on end use, revenue of the bakery & confectionery segment is expected to grow by 7.1% during the forthcoming period of 2022-2032.
- By form type, the fine powder segment exhibited a considerable growth rate of nearly 6.8% between 2020 and 2021.
- The global sodium stearoyl lactylate market exhibited steady growth at a CAGR of 5.6% in the historical period (2017-2021).
- The U.S. sodium stearoyl lactylate market is projected to grow at a CAGR of around 6.1% over the next ten years.
Competitive Landscape
FMI’s latest report highlights several leading brands in the sodium stearoyl lactylate market, including Merck KGaA, Tate & Lyle Plc., Kowa Europe GmbH, Zhejiang Synose Tech Co., Niacet, Savannah Surfactants, Parchem Fine & Specialty Chemicals, Ivanhoe Industries, DuPont, Lubrizol, Musashino Chemical Laboratory Ltd., Cargill Inc., BASF, Kerry Ingredients & Flavors, and DSM Nutritional Products.
Many of these key players are concentrating on innovative product launches for the food and beverage industry, investing heavily in R&D. Others are pursuing strategic collaborations, partnerships, mergers, and acquisitions to enhance their competitive position.
For instance,
- In March 2022, Tate & Lyle, a renowned global food & beverage solutions and ingredients company, signed an agreement to acquire Quantum Hi-Tech (Guangdong) Biological Co., Ltd, which is a reputed prebiotic dietary fiber company based in China, from ChemPartner Pharmatech Co., Ltd worth US$ 237 Million.
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Key Segments Covered in Sodium Stearoyl Lactylate Market Analysis
By Nature:
- Natural
- Synthetic
Form Type:
- Fine Powder
- Hydrate
Formulation Type:
- Oil in Water
- Water in Oil
- Water in Silicone
End Use:
- Food and Beverage Industry
- Bakery & Confectionery
- Meat and Poultry
- Dairy Products
- Alcoholic Beverages
- Convenience Products (Sour cream, salad dressings etc.)
- Plastic Industry
- Pet Food
- Cosmetic and Personal Care Products
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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