Global Succinoglycan Market: Market Outlook
Succinoglycan is compatible with proteins and can be used to give acidified milk drinks suspension and texture. It's made by bacterial fermentation with Agrobacterium tumefaciens, a naturally occurring microorganism. Succinoglycan's rheological properties allow for efficient dressing suspension and a pleasant mouthfeel. The fast-growing food and beverage industry in major economies around the world, such as the United States, Europe, India, and China, is expected to drive product growth over the next eight years as consumers become more reliant on packaged foods.
The Succinoglycan market is primarily driven by its widespread use in thicker in bakery and confectionery products, sauces, dressings, drinks, dairy and frozen desserts, and processed foods in the food and beverage industry. Also, thickeners have additional advantages such as multifunctionality, nutrient absorption, compatibility with other ingredients, low cost, and plentiful supply.
High Demand for additives in the food industry to boost the Succinoglycan market growth
Market growth is expected to be boosted by factors such as continued product innovation, shifting consumer preferences for high-quality products, and strengthened government food regulations. Over the forecast period, demand is expected to be bolstered by favorable government regulations relating to the growth of the food & beverage industry.
Furthermore, advances in the extraction and processing of food thickeners from new natural sources are one of the most significant opportunities for researchers and leading players in the global market. Furthermore, demand for ready-to-eat snacks, protein-rich products, and nutritious foods is expected to grow in the coming years which may increase the sales of Succinoglycan
Because Succinoglycan can withstand high temperatures, Succinoglycan is becoming more popular as a stabilizer and thickener in pie fillings, icings, and meringues in the bakery and confectionery industry. The baking ingredients market is expected to expand in response to the rising demand for ready-to-eat foods. In emerging markets, the shift from traditional home-cooked food to convenience foods has increased demand for these baking ingredients especially thickeners which in turn is expected to boost the demand for Succinoglycan.
Increased application of Succinoglycan in Cosmetic Industry to accelerate the global demand
The cosmetics ingredient market's prospects appear bright during the forecast period, thanks to consistent advances in cosmetic technology over the last decade. A considerable number of companies in the cosmetics ingredient market are currently pursuing sustainability as a means of gaining a competitive advantage in the current market.
Succinoglycan is safe and is widely used in, makeup, skin & hair care products in the pharmaceutical and personal care industries. It can be used as a foam stabilizer, a foam enhancer, and a thickener in shampoos, liquid soaps, creams and lotions, and toothpaste due to its distinctive rheological properties
Increased use of natural and plant-based ingredient is a major challenge for the manufacturers
Consumers are gravitating toward the use of herbal cosmetics, which they perceive to be healthier alternatives to traditional cosmetics. Herbal cosmetics help to balance hormones, promote natural healing, boost immunity, and have fewer side effects on the body. Herbal cosmetics and personal care products are more popular than commercially available ones. Customers' growing demand for herbal cosmetics is forcing producers to offer herbal cosmetic ingredients, and this trend is expected to continue during the forecast period.
Global Succinoglycan Market – Segmentation
Based on application, the global Succinoglycan market is segmented as
- Food & Beverage Industry
- Dairy products
- Frozen Food
- Cosmetic Industry
Based on grade, the global Succinoglycan market is segmented as
- Food Grade
- Cosmetic Grade
Based on Region, the global Succinoglycan market is segmented as
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
Global Succinoglycan Market – Key Players
Some of the key players associated with the Succinoglycan market are DuPont de Nemours, Inc, Parchem fine & specialty chemicals, Trulux Pty Ltd., And others
Global Succinoglycan Market – Regional Presence
The flourishing cosmetic & personal care industry is in high potential markets such as North America and Europe is creating ample opportunities for the Succinoglycan manufacturers.
Because of changing lifestyles and an increasing working population, the emerging markets for Succinoglycan are expanding, creating enormous potential for the processed food industry. Economic booms in India and China have resulted in increased urbanization and disposable income, resulting in a wider market for convenience and ready-to-eat food products.
COVID-19 Impact on Succinoglycan Market
The Pandemic affected businesses all over the world and restrictions imposed in several high-potential markets had an impact on the supply and demand chain. Due to an increase in the number of cases, many firms have been forced to close their manufacturing. Although quinoa flour manufacturers experienced low sales from the foodservice sector, retail sales of food products were high.
Due to the novel coronavirus outbreak, the global food and beverage industry had a minor to moderate impact. Consumers' desire to avoid being harmed by the virus boosted nutritional product sales. During the outbreak, there was a higher-than-usual demand for more natural products which is expected the Succinoglycan Market.
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