The global sodium stearoyl lactylates market size is expected to develop at a CAGR of 7.1% from 2022 to 2032. The market is projected to reach a valuation of approximately US$ 498.7 Mn by 2032. The global sodium stearoyl lactylates market is anticipated to be valued at US$ 309.3 Mn in 2022.
With radical improvements in the global economy, there has been a significant surge in the per capita disposable income of consumers across the globe. Growing trends of globalization and urbanization in the majority of countries worldwide and increasing awareness regarding the availability of a wide variety of new flavors for food & beverages are expected to boost the global sodium stearoyl lactylate market in the forecast period.
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High demand for ready-to-eat food products and increasing popularity of the dine-out trend in various parts of the globe, especially among the millennial population, are anticipated to augur well for the sodium stearoyl lactylates market in the evaluation period. With rapid growth of the food & beverages sector, especially the bakery & confectionery and processed food industries, the demand for sodium stearoyl lactylate is likely to grow at a fast pace in the upcoming decade.
Key Takeaways from Sodium Stearoyl Lactylate Market Study
- By nature, the natural segment is set to witness a prominent CAGR of 7.4% from 2022 to 2032 to reach a valuation of US$ 498.7 Mn in 2032.
- Based on end use, revenue of the bakery & confectionery segment is expected to grow by 7.1% during the forthcoming period of 2022-2032.
- By form type, the fine powder segment exhibited a considerable growth rate of nearly 6.8% between 2020 and 2021.
- The global sodium stearoyl lactylate market exhibited steady growth at a CAGR of 5.6% in the historical period (2017-2021).
- The U.S. sodium stearoyl lactylate market is projected to grow at a CAGR of around 6.1% over the next ten years.
“Growing use of sodium stearoyl lactylates in processed foods is one of the key factors driving the global market forward. Additionally, rising foreign direct investments and introduction of contemporary retail formats are some of the other factors driving the processed food industry, which would propel the sodium stearoyl lactylate market in the evaluation period,” says a Future Market Insights analyst.
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East Asia to Remain at the Forefront in the Sodium Stearoyl Lactylate Industry
In East Asia, expansion of the local food and beverage industry is mainly attributed to increasing production of new food ingredients across China and other emerging economies. It has also driven the demand for sodium stearoyl lactylate in China. Thus, the sodium stearoyl lactylate market in China is projected to expand at a moderate rate in the evaluation period.
The food and beverage industry in North America is expected to grow at a steady pace owing to the high consumer spending in dining out. The Europe food and beverage industry, on the other hand, is a crucial contributor to the region’s economy, and therefore the demand for sodium stearoyl lactylate is set to surge at a rapid pace in the region. The MEA sodium stearoyl lactylate market is estimated to grow at a significant rate on the back of increasing demand for ready-to-eat food items among the youth population.
Competitive Landscape: Sodium Stearoyl Lactylate Market
According to FMI’s new report, Merck KGaA, Tate & Lyle Plc., Kowa Europe GmbH, Zhejiang Synose Tech co., Niacet, Savannah Surfactants, Parchem Fine & Specialty Chemicals, Ivanhoe Industries, DuPont, Lubrizol, Musashino Chemical Laboratory Ltd., Cargill Inc., BASF, Kerry Ingredients & Flavors, and DSM Nutritional Products among others are some of the key sodium stearoyl lactylate brands.
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Explore More Valuable Insights on Sodium Stearoyl Lactylate Market
Future Market Insights, in its new report, offers an impartial analysis of the global sodium stearoyl lactylates market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032. The study offers compelling insights based on the nature (natural, synthetic), form type (fine powder, hydrate), formulation type (oil in water, water in oil, water in silicone), end use (dairy products, food & beverage industry, meat & poultry, alcoholic beverages, bakery & confectionery, convenience products, cosmetics & personal care products, plastic industry, pet food) across seven major regions of the world.
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