Emulsifier, Stabilizer and Thickener (EST) Market is projected to grow at a CAGR of 6.7% over the forecast period. Emulsifier, stabilizer, and thickener are primarily extracted from a natural substance and used as a direct additive in products to provide structure, viscosity, stability, and other qualities such as maintaining existing color. They are used as food additives to provide consistent texture, taste, and mouth feel. Some of the common EST are starches, gums, pectin, agar-agar, lecithin, and others. They are widely used in various industries such as bakery and confectionery, dairy and frozen desserts, beverages, oil and fats, sweet and savory snacks, meat products, and others.
Asia Pacific is projected to be the fastest growing EST market over the forecast period 2017-2023. India, China, Indonesia, and Vietnam are the major contributors in this market. Changing lifestyle and changing consumption pattern driving the growth of the EST market in this region.
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High inclination among the population of Asia Pacific towards the product characteristics such as texture and flavor of the product is further boosting the growth of the EST market in this region. Moreover, growing application of EST in cosmetic and personal care industry followed by the pharmaceutical industry is adding fuel to the growth of the market.
All these factors are expected to contribute to the growth of the Asia Pacific market at a CAGR of 7.3% during the forecast period 2017-2023.
This report includes a study of strategies such as mergers, acquisitions, and product launches by the major emulsifier, stabilizer, and thickener (EST) players. It further includes product portfolios, developments of leading players, which includes
- Archer Daniels Midland Company (U.S.)
- BASF SE (Germany)
- Cargill Incorporated (U.S.)
- DuPont Nutrition & Health (Denmark)
- Kerry Inc. (Ireland)
- Evonik Industries AG (Germany) and
- Akzo Nobel N.V. (The Netherlands)
The emulsifier, stabilizer and thickener (EST) market is segmented on the basis of type, application, and region.
On the basis of type, emulsifier, stabilizer, and thickener (EST) are segmented into starches, gums, pectin, agar-agar, lecithin, and others. Among all, the lecithin is dominating the market followed by starches. Lecithin has gained high popularity based on its health beneficial attributes for which it is witnessing growth in the pharmaceutical industry. Moreover, it is a commonly used stabilizer in the preparation of dairy and frozen desserts. The starches are gaining a substantial growth based on its easy availability, optimum functionality, and relatively low price in the market.
Based on the application, EST is segmented into bakery and confectionery, dairy and frozen desserts, beverages, oil and fats, sweet and savory snacks, meat products, and others. Among all, dairy and frozen desserts are dominating the market. However, the bakery and confectionery sectors are expected to witness a substantial growth in the coming years.
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The global EST market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Europe is dominating the market followed by North America owing to high demand for processed foods and growing inclination towards food additives. In North America, the U.S. and Canada are the prominent consumers.
Asia Pacific is expected to be the fastest growing market over the forecast period and China and India are projected be the major contributors to the growth of this region.
Moreover, among rest of the countries, Brazil is gaining moderate growth based on increasing demand for emulsifiers.
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