Sodium Octenyl Succinate Starch Market - Analysis and future growth opportunities by 2024
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Growth in the food industry is the major driver of the sodium octenyl succinate starch market, as the compound is used as food additives. Demand for functional products is rising due to the increase in consumer awareness about diet and health. The food & beverage sector is expected to stand as a pivotal domain for the global sodium octenyl succinate starch market owing to the rise in demand for chilled chocolates and dairy foods, low-fat spreads, and quality bread. The personal care industry is also predicted to add to the growth of the sodium octenyl succinate starch market. Sodium octenyl succinate starch is frequent used in cosmetics and hair styling products. Manufacturers of personal care products are looking forward to use sodium octenyl succinate starch as multi-purpose agent, thus precipitating an increase in research and development activities. Increase in research and development activities in other corresponding industries such as pharmaceuticals is anticipated to boost the global sodium octenyl succinate starch market in the near future. Sodium octenyl succinate starch is used for drying purposes, as it can decelerate the release of functional materials.
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In terms of application, the sodium octenyl succinate starch market can be classified into emulsifier, stabilizer, and thickener. In the food category, the starch compound is segmented into pasteurized cream, sterilized cream, mild & concentrated butter, and infant food. Sodium octenyl succinate starch is used as an emulsifier as it can preserve a mixture of substances that are incapable of being mixed. As a stabilizer, sodium octenyl succinate starch helps maintain uniform dispersal of components in food. Sodium octenyl succinate is considered as a good thickening agent as it is viscous.
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The global octenyl succinate starch market expanded moderately in 2015. This trend is estimated to continue during the forecast period. In terms of consumption, North America led the global octenyl succinate starch market in 2015. The region was followed by Europe. Busy lifestyle of consumers in the Europe region accounts for the high consumption of convenient foods that consist of components such as octenyl succinate starch. Usage of food additives is high in Europe due to the presence of a dominant food processing industry in the region. Presence of developing economies, significant rise in population, and changes in lifestyle are expected to offer immense growth opportunities for the sodium octenyl succinate starch market in Asia Pacific during the forecast period. The market in Latin America and Middle East & Africa are also in the growth phase owing to recent developments in the food industry and changes in lifestyle in these regions.
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