USD 2.51 Million
Fatty Acid Ester Market Size, Share, Growth Analysis, By Product(Medium Chain Triglycerides (MCT), Glyceryl Monostearate, Isopropyl Esters, Polyol Esters), By Application(Personal Care & Cosmetics, Lubricants, Food Processing, Surfactants & Detergents), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2289 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
70
|Figures:
75
Fatty Acid Ester Market Insights
Global Fatty Acid Ester Market size was valued at USD 2.51 Million in 2022 and is poised to grow from USD 2.62 Million in 2023 to USD 3.73 Million by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).
The global fatty acid ester market comprises chemical compounds that are derived from a reaction after the mixture of fatty acid and alcohol. These compounds can be applied in the production of several products with each property catering to a different industrial need. This market has witnessed continued expansion driven by its flexible utilization in several industries.
The need for sustainable chemicals that are developed with bio-based sources has grown. This has boosted the growth of this market. That is because the market’s products are obtained from renewable sources like animal fats and plant oils. These make them green alternatives which are preferred over traditional petroleum-based chemicals. Many industries are employing these chemical compounds due to the organic and sustainable suitability. Cosmetics, food processing, and pharmaceuticals are tuned in this market to stay in line with the evolving demand.
Also, fatty acid esters are widely used in the food and beverage, personal care, and textile sectors as lubricants, plasticizers, surfactants, and emulsifiers. They are more useful in these industries because of their capacity to increase product texture, stability, and shelf life.
Since fatty acid esters are biocompatible and have qualities that improve solubility, the pharmaceutical sector also uses them in medicinal formulations. In addition, fatty acid methyl esters play a crucial role in the production of biodiesel, which is in high demand, which further propels the market's expansion.
With innovation and research driving the creation of new applications and products, the fatty acid ester market is poised for further expansion as the globe continues to value sustainability and green chemistry.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Medium chain triglycerides (MCT)
Fastest Growth
polyol esters
Growth Rate
4.5% CAGR
Global Fatty Acid Ester Market ($ Bn)
Country Share for North America Region (%)
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Fatty Acid Ester Market Segmental Analysis
Medium chain triglycerides (MCT), glyceryl monostearate, polyol esters, sucrose esters, isopropyl esters, glycol esters, and other products make up one segment of the market. The market’s prominent regions are Asia Pacific, Latin America, North America, and Middle East & Africa (MEA). The application categories of the market are lubricants, food processing, personal care & cosmetics, surfactants & detergents, and pharmaceuticals,among others.
Analysis By Product
Medium Chain Triglycerides (MCT) have generally led the market. They are preferred due to their exceptional characteristics. These include great solubility rate and high stability. They also serve as a source of quick energy, further bolstering its demand in the market. The food and beverage industry uses these products heavily. The applications that it is utilized most commonly in are dietary supplements and as a source of fat in keto diets. It is also used in sport nutrition formulations.
Polyol Esters have quickly climbed the market ladders, earning its name as the fastest-growing market segment. Their lubricative properties and high temperature stability have made them a crucial addition in the industrial sectors. The automotive and aerospace industries have widely adopted this product due to the previously mentioned benefits. Their use as a high-performance lubricant in the previous mentioned sectors has fueled its demand, driving market growth. The pharmaceutical and personal care industries have also understood the potential for this product.
Analysis By Application
Personal Care & Cosmetics has typically held the top position in the market. The organic and emollient features of fatty acid esters, along with its ability to improve product texture, has fueled the product’s demand in this segment. The industry uses the compounds for several formulations. These include skincare, haircare, and cosmetics. Fatty acid esters sustainable nature appeals to this segment due to the heightened need for organic and eco-friendly ingredients in personal care products. This has stabilized its position in the market.
Pharmaceuticals are growing rapidly in the market. Pharmaceutical formulations use these compounds for enhanced solubility and bioavailability of drugs. New drug delivery systems and formulas are cropping up driving the demand for these ingredients that act as excipients and solubilizing agents. Moreover, the growing focus on bioavailability enhancement and patient compliance is propelling the adoption of these esters in drug development.
Global Fatty Acid Ester Market By Product
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Fatty Acid Ester Market Regional Insights
North America holds the title of being the largest market region. Its emphasis on green and eco-conscious products, like bio-based chemicals, have fueled the demand for sustainable fatty acid esters. The personal care and cosmetics industry of the United States is one of the largest in the world. Its rising adoption of fatty acid esters for formulation processes has helped steel North America's top place in the market.
Following closely behind North America, the APAC region is the second-largest market region. China has largely contributed to the region’s prominence in the market. The country’s growing population and thriving industrial sector has contributed to Asia-Pacific’s growth. Various industries in the region boost the demand for the market. These include textiles, food processing, and pharmaceuticals. The continued economic expansion and rising awareness of sustainability fuels the continued growth of the APAC region in the fatty acid ester market.
Global Fatty Acid Ester Market By Region
- Largest
- Fastest
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Fatty Acid Ester Market Dynamics
Drivers
Expanding Personal Care and Cosmetics Industry
- The fatty acid ester market is widely impacted by the growth and trend of the personal care and cosmetics sector. Fatty acid esters are widely used in the production of makeup, haircare, and skincare products. These compounds are preferred in these applications due to their skin-conditioning and emollient characteristics. The demand for these compounds reflects the growth of these industries.
Growing Demand for Sustainable and Natural Products
- Fatty acid esters that are obtained from renewable sources are gaining popularity. This is a result of the shift of consumer preferences to organic and sustainable products. This change has occurred due to the growing awareness of the significance of environmental health. These compounds are green alternatives That can replace petroleum-based chemicals. The industries which have shifted to fatty acid esters include food, personal care, and pharmaceuticals.
Restraints
Stringent Regulations
- Strict standards concerning labeling, safety and environmental impact governs the chemical industry. These requirements also have to be fulfilled by the market for fatty acid esters. The producers must adhere to these regulations, though the process can be complex and time consuming, leading to a rise in costs.
Fluctuating Raw Material Prices
- The prices of raw materials used in the production of this market’s product can be susceptible to instability. The materials used in the development of fatty acid esters come from natural sources. These include animal fats and plant oils. The fluctuations in raw material prices can affect production costs and overall profitability.
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Fatty Acid Ester Market Competitive Landscape
The global fatty acid ester market is defined by its competitive environment. The market ecosystem encompasses a mix of medium-sized firms, industry leaders, and manufacturers that target niche markets. These market players are engaged in constant rivalry to gain market share in various applications.
Some established producers in the market include Archer Daniels Midland Company, Wilmar International Ltd., BASF SE, Cargill Inc., and KLK Oleo Group. These market dominators capitalize their vast resources, broad range of product offerings, and global presence to retain their position in the fatty acid ester market.
Top Player’s Company Profiles
- IOI Oleochemical Industries Berhad
- Croda International Plc
- Wilmar International Ltd.
- BASF SE
- Solvay S.A.
- Archer Daniels Midland Company
- KLK Oleo Group
- Evonik Industries AG
- Sasol Limited
- Stepan Company
- Gattefossé
- Faci Asia Pacific
- Lubrizol Corporation
- Jarchem Industries Inc.
- Musim Mas Holdings
- Kao Corporation
- Oleon NV
Recent Developments
- Wilmar International is a processor of agricultural commodities. The Singaporean food processing company reported in July 2023 that it would be inaugurating a new fatty acid ester manufacturing plant in China.
- Stepan Company is an international manufacturer of specialty and intermediate chemical products. They bought Ecogreen Oleochemicals’ fatty acid ester business in May 2023. Ecogreen Oleochemicals is a global producer of saturated fatty alcohols, oleic acid, refined glycerin, and medium-chain triglycerides.
- BASF is the largest chemical producer in the world. The European multinational reported in March 2023 that it will be releasing a new line of fatty acid esters. This product line will serve the cosmetics and personal care industries
- Cargill is an agribusiness company, providing products and services in the food, financial products, agricultural, industrial sectors. They announced in June 2023 that they will launch a new line of sustainable fatty acid esters. This sustainable product line will cater to the food and beverage industry.
- Emery Oleochemicals is a world-leading manufacturer of high-performance, natural-based specialty chemicals. They reported in April 2023 that they will be upscaling their fatty acid ester production capacity in Malaysia.
Fatty Acid Ester Key Market Trends
- Rising Use in Personal Care Products: The personal care and cosmetics sectors have widely adopted fatty acid esters. They are extensively used in these industries for their emollient and skin-conditioning properties. The demand of these compounds in the formulation process of these fields has increased due to a consumer shift to naturally organic personal care products.
- Shift towards Sustainable Ingredients: The global sustainability trend has also affected the market for fatty acid esters. Consumers are seeking green and ecologically sound products. This has driven producers to use renewable sources like animal fats and plant oils in the production of this market’s product. This is in line with the growing trend in the chemical industry which has shown a change to sustainable and natural chemicals.
Fatty Acid Ester Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global fatty acid ester market analysis; the global fatty acid ester market is experiencing robust growth driven by multiple factors. This market is geographically segmented, with regions such as North America and Asia-Pacific leading the way. North America, particularly the United States, is a dominant player, benefiting from a robust chemical industry and a burgeoning demand for sustainable, bio-based chemicals.
Led by China, the APAC region is experiencing quick groth. Its large population and thriving industrial sector can be credited for this exponential growth. The applications that utilize fatty acid esters are lubricants, surfactants, personal care, food processing, pharmaceuticals, cosmetics, and detergents, among others. The growing personal care and cosmetics sector and the global trend of sustainability have marked the market for continued growth. Other factors fueling market expansion are its widespread adoption in food processing and its crucial role in pharmaceutical formulations. Now that ecologically sound and versatile fatty acid esters are becoming more popular in various industries, the market is predicted to stay on the path of steady growth.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.51 Million |
| Market size value in 2031 | USD 3.73 Million |
| Growth Rate | 4.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Fatty Acid Ester Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Fatty Acid Ester Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Fatty Acid Ester Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fatty Acid Ester Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fatty Acid Ester Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Fatty Acid Ester Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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