[PDF] Esters Market Market: Latest Innovations, Drivers And Industry Key Events 2021 – 2027

Esters are small molecules that consist of one or more hydroxy groups. Typically, esters consist of the substitution of a hydrogen atom with another one with a carbon. The hydroxy group on one end of the molecule acts as a catalyst to generate the desired change. Glycerol, which is the major fatty acid ester of glycerol, is a very important ester in nature, being an important part of lipid membranes and making up the majority of plant oils and fat-soluble vitamins. The presence of this group in alcohols and alkaloids has led to the development of many synthetic compounds that have specific characteristics. One of the most popular ones is the Ester-C-Amp; this molecule is composed of an amine and an ether which react together to generate the desired changes. Another compound called the Ester-Carbamic is an Ester compound that is very similar, except for the fact that it is made of a carbamic acid rather than an acid. Many of the other compounds are derivatives of the carbamic acid.

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Growing trend for consuming convenient foods in developed and emerging economies is expected to drive growth of the global esters market during the forecast period. The demand for convenient foods has increased significantly in the recent past. A large part of consumers is involved in a busy life schedule where the requirement for convenience food is increasing rapidly Majority of these consumers find it difficult in preparing food in a busy schedule. Convenience food and ready-to-eat meals widely adopted by these consumers since they are easy to consume and carry. As a result of this, the demand for esters has increased. Hence, these factors are expected to drive growth in the global esters market during the forecast period. Furthermore, the multifunctional properties of sucrose esters are expected to propel the global esters market growth in the near future.

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However, strong competition from substitutes such as sorbitan esters is expected to hinder the global esters market growth over the forecast period. Among regions, North America is expected to witness significant growth in the global esters market during the forecast period. This is owing to increasing demand for natural products for the food and personal care products segment. Furthermore, Europe is expected to register a robust growth rate over the forecast period, owing to increasing demand from the bakery and dairy sectors.

Key companies operating in the global esters market are Procter & Gamble (P&G), Dow Chemical, Evonik Industries, Honeywell, Sasol, Archer Daniels Midland, and PCC Chemax.

For instance, in September 2020, Evonik Industries introduced the Elucare brand that produces special esters, lubricants, and resins.

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