Asia-Pacific holds the lion’s share in the sucrose esters market as the region is backed by the presence of burgeoning end-user industries and leading market players. Rising consumer income has resulted in higher consumption of bread and confectionery products in the region. South Korea spearheads Asia-Pacific’s sucrose esters market as the country possesses the world’s largest cosmetic brands. In recent times, South Korea’s beauty exports rose from USD 1 billion in 2012 to USD 2.64 billion in 2017, statistics recorded by the Korean Customs Service.
Sucrose esters are used in a variety of cosmetics and personal care products, such as lotions, bath products, makeup products, suntan products, and shampoos. They are used in the bath and cleansing products as they improve foam density, emulsify certain essential oils, and contribute to the conditioning effect of shampoos and conditioners. Sucrose ester with high hydrophilic-lipophilic balance value is a preferred choice for manufacturing sunscreen gels, which are diluted into milk after use. Thus, the high demand for sucrose esters from the cosmetic industry drives regional market growth.
Impact of Covid-19
COVID-19 is an unprecedented public health crisis, having adverse effects on every industry across the globe. Consumer demand patterns have shifted and changed drastically, owing to several economic reasons. The global supply chains are re-routed, and companies are procuring raw-materials locally. The governments are intervening in the operations of the economy; on the other hand, companies are striving to adapt to the new and uncertain market conditions. Consumers have reduced out-of-home food consumption, further hampering the market growth.
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Sucrose Esters Market: Segmentation
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