- Fatty acid esters (FAEs) are those esters which are formed by combining fatty acids with alcohol. The fatty acid esters market is estimated to grow at 4 percent CAGR by the end of 2020. This is due to increasing demand for fatty acid esters from consumer industries, including cosmetics and personal care. FAEs are expected to attain USD 2.25 billion by 2020.
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The pivotal factors driving the fatty acid esters market are increasing demand in food industry and huge demand from the sectors of personal care and cosmetics. However, volatility in the prices of feedstock is expected to restrain the market over the forecast period.
The fatty acid esters market can be segmented into three major categories, including products, applications and geographies. The market, on the basis of products, can be divided into glyceryl monostearate, isopropyl monostearate and others. Others includes sucrose esters, glycol esters and polyol esters.
The applications fatty acid esters market can be fragmented into lubricants, foods, personal care &cosmetics, surfactants and others. Others includes pharmaceuticals and paper. Geographically, the fatty acid esters market can be fragmented into four key regions, including North America, Asia Pacific, Europe and ROW (rest of the world).
North America dominated the market for FAEs in 2013. This was as a result of growing demand for cosmetics and personal care products. Asia Pacific has shown considerable growth. This is on account of increasing disposable income of consumers and rising demand for cosmetics and food in the region. The emerging markets of Asia Pacific, especially India and China are likely to propel further demand for the fatty acid esters market.
Information Source: Grand View Research
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