Increase in demand for bio-based products is fueling the growth of Polysorbate Market
Polysorbate is commonly used as non-ionic surfactants in the formulation of bio-therapeutic products to prevent surface adsorption and stabilize proteins from getting agglomerated. It is widely used in food preparation, pharmaceutical, personal care, and beauty products such as cold creams, baby lotions, and bath oils. Polysorbate is highly used in the preparation of ice cream as it prevents it from melting rapidly. Besides this, polysorbate is utilized in the formulation of influenza vaccines. Polysorbate is used as emulsifier in food applications. In food products, polysorbate is added up to concentration of 0.5% to make them smoother. Polysorbate is employed as surfactant in soaps and cosmetics and as solubilizer in mouthwashes. Polysorbate is used as excipient for stabilizing aqueous formulations of medications in medical applications. Polysorbate is employed as an emulsifier in the manufacture of antiarrhythmic amiodarone.
Polysorbate Market: Drivers & Restraints
Constant demand for polysorbate in end-user industries such as pharmaceuticals, food & beverages, personal care, and cosmetics plays a prominent role in the growth of the polysorbate market. Increase in demand for bio-based products is also fuelling the demand for polysorbate. Rise in awareness about the use of quality skin care products is also boosting the demand for polysorbate. Furthermore, growth in demand for products of bio-origin is triggering the demand for polysorbate. Polysorbate consists primarily of partial fatty acids such as oleate, stearate, or laureate. The estimated bio-based content ranges from 30% to 40%, making them a renewable material for various applications. The U.S Food and Drug Administration (FDA) allows polysorbates to be directly added to food as adjuvants and emulsifiers for flavoring agents. Turkey red oil and coconut oil can act as alternatives for polysorbate.
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Polysorbate Market: Key Segments
Based on source, the global polysorbate market can be classified into plant, animal, and synthetic. Plant sources includes palm, olive, and bay tree. Animal sources comprise cow fat, sheep fat, and pig fat. In terms of grade, the global polysorbate market can be divided into polysorbate 20, polysorbate 60, and polysorbate 80. Based on application, the global polysorbate market can be segregated into food & beverages, pharmaceuticals, and personal care & cosmetics. Emerging economies such as China and India in Asia Pacific are anticipated to offer attractive growth platforms for food and pharmaceuticals industries. This can be ascribed to the increase in population, rise in disposable income of consumers, and improvement in lifestyle of the middle-class population.
Polysorbate Market: Regional Outlook
The global polysorbate market expanded significantly in 2017. This trend is estimated to continue during the forecast period. Asia Pacific holds significant share of the global polysorbate market. The pharmaceuticals segment in China and India is likely to offer lucrative opportunities to the polysorbate market in Asia Pacific between 2018 and 2026 due to the increase in popularity of bio-based products, wherein polysorbate is used. Growth in demand for polysorbate in food & beverages segment in Europe is driving the market in the region. The polysorbate market in North America is driven by advancements in the pharmaceutical industry. The polysorbate market in Latin America and Middle East & Africa is estimated to expand at a significant pace during the forecast period, owing to the recent economic growth in these regions.
Polysorbate Market: Key Players
Key players operating in the global polysorbate market include Lotioncrafter LLC, Croda International plc, and Huyze Bladelin.
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