Demand for food emulsifiers growing
The global food emulsifiers market size was valued at USD4.36 billion in 2015 according to Grand View Research. The global demand for these colloidal products is considered to be mainly driven by the bakery & confectionery industry, owing to their multifunctional utility in this application.
Emulsifiers or colloids are extensively used as additives during processing of victuals. These products have a broad application spectrum ranging from bakery to meat processing. Furthermore, rapid industrialization of the food & beverage sector in Asia Pacific region is another factor driving demand. Changing consumer preferences regarding the quality, texture, taste, and nutrition value of victuals in the region are likely to impact the dynamics of emulsifiers industry over the forecast period.
U.S. food emulsifiers market volume, by product, 2014 – 2025 (Kilo Tons)
The U.S. is one of the key consumers of emulsifying products. Currently, on-going clean label trend regarding ingredients and additives incorporated during the processing of victuals in the country is expected to boost the requirement of natural and biobased ingredients in the future. This scenario is likely to provide scope for consumption of natural emulsifying materials to a considerable extent over the coming years.
Stepan Company is one of the key players offering emulsifying agents to various food & beverage application sectors. The company provides mono- and di-glycerides under the name DREWMULSE, which helps in stabilization and emulsification of nutrition and food systems.
Mono-, di-glycerides & derivatives held the highest revenue share of the total industry in 2015. These products are glycerin-based fatty acid esters that help in improving the surface activity required for proper stabilization and homogenization of processed victuals.
Mono-, di-glycerides & derivatives are extensively consumed for manufacturing dairy and bakery items, including cakes, ice creams, margarine, and bread. In terms of revenue, this category is projected to expand at a CAGR of 4.3% from 2016 to 2025, due to their large consumption in the bakery sector.
Stearoyl lactylates are anticipated to offer lucrative opportunities in the global industry. Use of these emulsifying agents is likely to increase in the next couple of years, owing to their extensive consumption for the production of pancakes, snacks, sauces, cream-based alcoholic beverages, and dietary products. This product is rendered safe by the U.S. FDA and the demand for the same is likely to increase at the highest rate over the coming years.
Bakery & confectionery, meat products, dairy products, and convenience foods are the major application segments. In terms of revenue, bakery & confectionery held the highest share, constituting 59.4% of the overall industry in 2015.
The demand for innovative baked products, especially those that are gluten-free and exhibit longer shelf life, is one of the major trends driving the growth of bakery sector. Furthermore, rising consumer requirements for nutritious and fibrous biscuits is another trending aspect of this industry. These scenarios are likely to upsurge the consumption of natural ingredients, including emulsifiers, in the next couple of years.
Global food emulsifiers market revenue share, by application, 2015 (%)
Convenience products are projected to witness the fastest growth by the end of forecast period at a CAGR of 5% in terms of volume. Increasingly busy lifestyle of consumers in both developed and developing countries coupled with rising consumer spending on packed items is one of the key socio-economic factors supporting their consumption. This, in turn, is anticipated to leverage the usage of emulsifiers in the near future.
Europe captured the largest chunk of the industry, constituting 29.5% of the volume share in 2015, closely followed by North America and Asia Pacific. Germany, France, and Eastern European countries are anticipated to influence the industry expansion over the coming years positively. Regional demand for emulsifying agents, including stearoyl lactylates and sorbitan esters for bakery and dairy applications, is estimated to increase at a steady CAGR over the years ahead.
Countries in the eastern part of Europe, including Russia, are expected to illustrate fastest industry expansion, owing to rising foreign investments in alcoholic beverages manufacturing sector. This development is estimated to offer lucrative prospects for emulsifiers.
Asia Pacific food emulsifiers industry is projected to witness the fastest growth, owing to key socio-economic factors including drastically developing food & beverages industry and broad consumer base. This scenario is likely to reflect in China, India, and other countries in Southeast Asia over the next few years.
The key industry participants include Danisco A/S, BASF SE, Cargill, Inc., Beldem, Lonza Group, Riken Vitamin Co., Ltd., Palsgaard A/S, Adani Wilmar Ltd., Archer Daniels Midland Company, Solvay S.A., Lubrizol Corporation, and Stepan Company.
Companies such as Palsgaard and Riken Vitamin are significantly investing in research & development for enhancing the functional attributes of their existing product portfolio. Danisco A/S offers manufactured goods that possess enhanced taste, texture, nutritional value, and extended shelf life. Cargill’s synthetic emulsifiers find application in bakery, chocolate, and snacks, thereby offering superior dispersion systems as compared to soy lecithin.
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