Polysorbate Market

Polysorbate Market Research, 2031

The global polysorbate market was valued at $0.8 billion in 2021, and is projected to reach $1.4 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.

Polysorbate is used to stabilize aqueous formulations of medications for parenteral administration or vaccinations which in turn may further aid the growth of the polysorbate industry. Owing to COVID-19, increase in severity of diseases has led the pharmaceutical sector to increase their R&D activities for developing highly efficient drugs, where polysorbate is widely used for producing medicinal formulations. This acts as one of the key drivers responsible for the growth of the polysorbate market in the growing pharmaceutical sector.

Polysorbate are class of emulsifiers that are used as stabilizers, disinfectants, and solubilizers in pharmaceutical, food preparation, cosmetics and personal care, paints, and other sectors. It is oil liquid that is derived by esterification of ethoxylated sorbitan (a derivative of sorbitol) with fatty acids.

The increase in awareness toward skincare, beauty, and lifestyle has surged the demand for personal care & cosmetic products where polysorbate is used for producing various cosmetic formulations. For instance, according to a report published by the Indian Ministry of Economy and Industry, the personal care and cosmetics industry is one of the fastest-growing consumer products sectors. This is projected to propel the growth of the polysorbate market.

However, the use of polysorbate beyond the concentration limits may cause several health-related disorders such as cancer (due to ethylene oxide and 1,4 dioxane), skin allergies, developmental toxicity, reproductive toxicity, and others. Furthermore, it can cause other side-effects such as hypersensitivity, nonallergic anaphylaxis, rash, pain, erythema, thrombophlebitis, and others. These factors may restrain customers from using polysorbates; thus, hampering the market growth.

On the contrary, increase in purchasing power of consumers and fast-paced lifestyles boost the sales of packed food items in both developed and developing economies. According to an article published by Business Standard, the packed food market in India is expected to double in the upcoming 5-10 years owing to the economic growth, growing e-commerce, and demographic dividend. Polysorate be used as an emulsifier, stabilizer (especially for frozen sweets to avoid oil-water separation), dispersant (such as the dispersion of non-dairy coffee partners) and foaming agent as non-alcoholic beverages added to alcoholic beverages, which can also keep the moisture of bread and donuts.

Moreover, the increase in trends toward healthy eating habits have surged the popularity packaged food items where polysorbate is used for removing moisture from the packages and thus, enhance the shelf life of the food items. Furthermore, several studies have found that the use of polysorbate for food packaging applications adds benefit of prolonging storage life, freshness and the appearance of meats, fish, poultry, fruit and vegetables. This has made the key players of the packed food industry more linear towards using polysorbates. Thus, the surge in adoption of polysorbate in food & beverage sector is anticipated to create remunerative opportunities for the market.

The polysorbate market is segmented into source, grade, end-use, and region. By source, the market is divided into plant, animal, and synthetic source. By grade, the market is classified into polysorbate 20, polysorbate 40, polysorbate 60, and polysorbate 80. By end use, it is fragmented into food & beverage, pharmaceuticals, cosmetics and personal care, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The polysorbate market share is held by major companies profiled in this report include Aceto, Alfa Aesar, BASF SE, Croda International Plc, Estelle Chemicals Pvt. Ltd., Evonik Industries AG, Guangdong Huana Chemistry Co., Ltd., Lanxess, Matangi Industries, Merck KGaA, Mohini Organics Pvt. Ltd., Niram Chemicals, Otto Chemie Pvt. Ltd., TCI America, and Venus.

In 2021, the synthetic source was the largest revenue generator and is anticipated to grow at a CAGR of 5.5% during the forecast period. This is attributed to the increasing disposable income coupled with busy lifestyles which in turn have surged the demand for packed food items where synthetic sourced polysorbate is used as a stabilizing agent for producing a wide range of packed food items. This may act as one of the key drivers responsible for the growth of the synthetic sourced polysorbate. Furthermore, the extensive use of surfactants in households and industries has led the synthetic-sourced polysorbate manufacturers to increase their production capacities where synthetic-sourced polysorbate is used as a stabilizing agent in detergent manufacturing. This may further augment the polysorbate market growth for synthetic-sourced polysorbate.

By grade, the polysorbate 60 dominated the global market in 2021, and is anticipated to grow at a CAGR of 5.7% during forecast period. This is attributed to fact that polysorbate 60 is used as a food additive in pudding mixes in the food manufacturing sector to prevent scorching during food preparation. Furthermore, it is widely used as an emulsifier agent in producing various food items such as desserts, baked goods, and imitation dairy products. Moreover, polysorbate 60 is used as a thickening agent in various cosmetics and skin formulations.

By end use, the cosmetics and personal care dominated the global market in 2021, and is anticipated to grow at a CAGR of 5.0% during forecast period. This is attributed to the increasing disposable income coupled with rise in self-grooming activities  which in turn have led the cosmetics and personal care sector to witness a significant growth where  polysorbate is widely used as an emulsifier for producing various cosmetic formulations. This may act as one of the key drivers responsible for the growth of the polysorbate market in the growing personal care and cosmetics sector. In addition to this, polysorbate creates more aesthetically pleasing texture when added to various lotions and creams. This has led the key cosmetic manufactuers to use polysorbate for producing various creams. This factor is further boosting the growth of the polysorbate market.

The Asia-Pacific polysorbate market size is projected to grow at the highest CAGR during the forecast period, owing the fact that China's food packaging sector is increasing rapidly which has forced the polysorbate manufacturers to increase their manufacturing capacities. This may act as one of the key drivers responsible for the growth of the polysorbate market. Furthermore, the personal hygiene & beauty sector in India is witnessing a significant growth owing to increasing number of newborns and rise in awareness regarding self-beauty and self-grooming activities where polysorbate is widely used to produce various cosmetic formulations such skin fresheners, skin care products, skin cleansing products, makeup bases and foundations, shampoos, and others. For instance, according to a report published by United Nations Children's Fund (UNICEF), around 67,385 babies are born in India, that’s one sixth of the world’s childbirths. This is anticipated to increase the sales of polysorbate among the growing personal care & hygiene sector; thus creating lucrative opportunities for the polysorbate market in the Asia-Pacific region.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the polysorbate industry segments, current trends, estimations, and dynamics of the polysorbate market analysis from 2021 to 2031 to identify the prevailing polysorbate market opportunities.
• Market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• An in-depth analysis of the polysorbate market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global polysorbate market trends, key players, market segments, application areas, and market growth strategies.

 Polysorbate Market Report Highlights