Market Trends of Emulsifier Industry
Increasing Demand from Food Products Segment
- Emulsifiers are surface-active agents or surfactants that stabilize an emulsion by increasing its kinetic stability. Emulsifier molecules have two ends: polar or hydrophilic (water-soluble) end and non-polar or hydrophobic (water-repellent) end.
- The increasing use of emulsifiers in food products such as cereals, ready-to-eat meals, infant and child nutrition products, snacks, desserts, and others is expected to increase the demand for emulsifiers globally.
- As technology advances, industrial businesses are turning to new sources of emulsifiers to improve product quality, boost efficiency, and reduce processing time. Emulsion technology has been used in the food industry for decades to produce a wide range of products, such as homogenized milk, creams, dips, dressings, sauces, desserts, and toppings.
- As per IBEF (India Brand Equity Foundation), the Indian food processing industry has grown rapidly in the past 5 years, averaging 8.3% annual growth. With a market size of USD 866 billion in 2022, the food industry will play a key role in emulsifier consumption.
- Furthermore, with the increase in consumption of functional food products, various companies are coming up with specialty ingredients enriched in protein, amino acids, and omega-3 fatty acids in milk-based products, sauces, spreads, baked foods, breakfast cereals, and baby foods. With robust demand for specialty ingredients with improved nutritional properties, the need for additives like emulsifiers will increase during the forecast period.
- As per the National Food Management Center of China Light Industry, despite facing the pandemic in the past, the food sector has shown strong momentum and resilience in 2022 and is expected to grow at this pace in 2023.
- As per CDIC (China Daily Information Co.), the Chinese food market registered steady growth in 2022 and is expected to maintain the same growth in 2023. The Chinese food companies reported that the revenue in 2022 peaked at over CNY 9.8 trillion (approx. USD 1.3 trillion), making an annual increase of 5.6% over the previous year.
- Owing to all the factors mentioned above for an emulsifier, its market is expected to increase over the forecast period.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for emulsifiers during the forecast period. In countries like China and India, owing to the growing population and increasing disposable income, the demand for emulsifiers has been increasing in the region.
- The increasing usage of emulsifiers, namely lecithin, in food products like chocolate and confectionery products, which provide various advantages during processing and storage, is projected to increase the demand for emulsifiers in the region.
- The food products segment is projected to hold more than 40% of the emulsifier market in the region, and the personal care & cosmetics segment is projected to hold the second-largest share with more than 25% of the emulsifier market in the region.
- The usage of emulsifiers in the personal care & cosmetics industry helps in providing better mixing of water with oils. Cosmetics products, namely lotions and creams, utilize both; the perfect balance between oil and water needs to be attained to maintain the homogeneity of these products, which is done using emulsifiers.
- In China, the revenue from the cosmetics industry in the year 2023 is projected to reach USD 70.65 billion.
- The factors above, coupled with government support, are contributing to the increasing demand for emulsifiers during the forecast period.
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