The global sorbitan monostearate market size is expected to gain momentum owing to the increasing product demand in food and leather applications during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Sorbitan Monostearate Market, 2022-2029.” The high product used as an emulsifier or synthetic wax for keeping the oil and water mixed and a non-ionic surfactant offering emulsifying, dispersing, and wetting properties are likely to surge the overall market demand.

COVID-19 Impact:

R&D Budget Allocations Depletion to Hamper Growth

The sorbitan monostearate market is a developing industry that has been hampered by an ongoing pandemic, which has dwindled production and installation across most countries. The market has experienced a massive downfall because of the diminishing supply chain demand, suspension of transportation activities, lockdowns, huge economic’ decline, budget allocations, and reduced market investments. The budget allocations for R&D have been forecasted to be substantially affected, thereby hindering market growth.

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Segments:

Based on type, the sorbitan monostearate market divides into food grade, industrial grade, medicine grade, and others. Based on application, the market segregates into cosmetics, pharmaceuticals, food industry, leather, coatings, plastics, and others. Finally, by geography, the market segments into Asia Pacific, Europe, North America, Latin America, Middle East & Africa.

What does the Report Offer?

The market research report for sorbitan monostearate offers integrated information on the key drivers, constraints, and opportunities driving industry growth. The research goes on to generate dominant insights from different market segmentations. Growth drivers, opportunities, challenges, restrictions, and the latest principle developments are among them.

Drivers & Restraints-

Growing Inclination for Belts and Shoes to Escalate the Market

The sorbitan monostearate market growth is likely to broaden, owing to the rising product inclination in the food and leather industry. In the food industry, the product finds its usage as an emulsifier and a thickening agent such as cake icing, imitation whipped cream, non-dairy creamers, yeast, and baked goods. While in the leather industry, the product gets utilized for the creation of synthetic fibers, metal machining fluid, and brighteners. The tremendous escalation in the product demand in both industries is likely to surge the overall market demand of the sorbitan monostearate market. However, the lack of product availability may obstruct the market.

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REGIONAL INSIGHTS:

Rapid Product Utilisation in Pharmaceutical Industry to Elevate Market Growth

Asia Pacific is likely to witness the dominant sorbitan monostearate market, owing to the exponentially high product usage in the pharmaceutical industry.

North America is likely to own the second-largest market growth. The growth is due to the high product utilization in the cosmetics industry in the region.

Competitive Landscape-

Technological Innovations to Reinforce Key Players’ Industry Stance

The sorbitan monostearate market is highly persuasive in nature. Presence of the dominant market participants, acquisitions, mergers, and partnerships, the industry has moderate to high entry barriers. Improved progressions in the automotive connectors market, increasing product launches, insights on regulatory scenarios, and porters five forces analysis are likely to drive the market.

Industry Developments-

  • September 2020: Clariant AG introduced Hostaphat 1738 equipped with ultra-high sustainability with 50% bio-based content and 40% reduced phosphorus content than other traditional products.
  • December 2019: DuPont and IFF declared their undertaking of a definitive agreement towards the creation of high-value ingredients and solutions for global food & beverage, home & personal care, and health & wellness markets.

List of Key Players Profiled in the Global Market for Sorbitan Monostearate:

  • World Chem Industries
  • Estelle Chemicals Pvt. Ltd.
  • Plus Chem
  • Akhil Healthcare
  • Jeevika Yugchem Private Limited
  • Mohini Organics Pvt. Ltd.
  • Triveni Interchem Pvt. Ltd.
  • B. Enterprises
  • Fine Organics
  • Krishna International
  • Shree Chemicals Industries Pvt. Ltd.
  • Savannah Surfactants Ltd.

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