According to Stratistics MRC, the Global Fatty Acid Esters market is estimated at $1.89 billion in 2015 and is poised to reach $2.5 billion by 2022, growing at a CAGR of 4.0%. The factors that are driving the market growth include rising obesity, increasing demand in food industry and rising concerns relating to fitness and beauty.
However, volatility in raw material prices is inhibiting the market. In 2015, Glyceryl monostearates segment commanded the largest market with a share of above 35%. However, isopropyl palmitate is expected to grow at the highest CAGR during the forecast period. Also, the cosmetics and personal care products is estimated to be the fastest growing application in the fatty acid esters market.
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In 2015, North America commanded the global market led by the increasing demand for personal care products and cosmetics. Asia Pacific is witnessing the fastest growth over the past few years owing to increasing demand for fatty acid esters in foods and cosmetics and the growth is expected to continue over the forecast period.
Some of the key players in the market include Fine Organics, Cargill Inc., Estelle Chemicals, Procter & Gamble (P&G) Chemicals, Evonik Industries, E.I. DuPont de Nemours, KLK Oleo, World Chem Industries, Oleon NV, The Seydel Co. Inc. and Faci Asia Pacific Pte Ltd.
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Medium chain triglyceride oil
Personal care products
• Rest of Europe
• New Zealand
• Rest of Asia Pacific
Rest of the World
• Middle East
• South Africa
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