Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- A new market study on the global fatty acid esters market has been recently published by Transparency Market Research (TMR). The report estimates the market to develop at a CAGR of 4.1% over the period from 2014 to 2020 and attain a market value of US$2.24 billion by the end of the forecast period.According to the report, titled "Fatty Acid Esters Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020", the global market for fatty acid esters stood at US$1.70 billion in 2013.The research report states that the rising concerns relating to fitness and beauty is the main factor driving the growth of the fatty acid eaters market around the world. The rising obesity across the world is another growth driver of this market as fatty acid esters helps in reducing weight by burning calories.
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Medium chain triglycerides, isopropyl palmitate, glyceryl monostearates, and other esters such as glycol, polyol, and sucrose are the key products of the global fatty acid esters market. In 2013, the market for glyceryl monostearates held the leading position, accounting for more than 40% of the global fatty acid esters market. However, the market for isopropyl palmitate is expected to register the fastest growth over the forecast period owing to the rising demand for isopropyl palmitate from the global cosmetic industry, states the report.
Food, cosmetics, personal care products, lubricants, surfactants, and others such as pharmaceuticals, and the paper industry are the key application areas for fatty acid esters, notes the market study. The markets for food, cosmetics, and personal care products dominate the global fatty acid esters market at present. Additionally, the cosmetics and personal care products market is expected to register the fastest growth in the global market, owing to the increasing demand for fatty acid esters in cosmetics such as creams and lotions. The market for food is also expected to report remarkable growth over the forecast period due to the increasing applications of fatty acid esters in food products as emulsifying and thickening agent.
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The fatty acid esters market in North America held the leading position in 2013, and analysts of the report expect it to maintain its dominance during the forecast period.The report analyzes the company profiles of the key market participants and presents the competitive landscape prevailing in the global fatty acid esters market. The market hierarchy, together with key strategies and recent development of the major companies, is also presented in this report in order to provide a clear understanding of the market dynamics.Oleon NV, The Seydel Co. Inc., Procter & Gamble (P&G) Chemicals, DuPont, World Chem Industries, Estelle Chemicals, Fine Organics, Evonik Industries, KLK Oleo, Cargill Inc., and Faci Asia Pacific are the major players functioning in the global fatty acid esters market.
The global fatty acid esters market is segmented into:
- Medium chain triglycerides (MCT)
- Glyceryl monostearate
- Isopropyl palmitate
- Others (Including polyol esters, glycol esters, sucrose esters, etc.)
- Personal care products and cosmetics
- Others (Including paper, pharmaceuticals, etc)
- North America
- Asia Pacific
- Rest of the World (RoW)
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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Source:Transparency Market Research