Monoglyceride Market Outlook:
Monoglyceride is an emulsifier, a type of glyceride which is made up of one fatty acid chain and glycerol. Monoglyceride is usually found in almost every food item naturally. But the monoglyceride that is available in the market as a food additive is extracted from animal or plant fats. Commercially monoglyceride sold in the market is primarily used as surfactants and commonly known as E471. Monoglyceride is often present in products such as beverages, chewing gum, ice cream, whipped toppings, margarine, shortening, confections and bakery items. Manufacturers of bakery products use monoglyceride in their product in order to improve the texture of the final consumable product. Recently, the use of monoglycerides has increased to make fiber-enriched bread and frozen dough as it helps to obtain a firm crusty structure along with an increase in volume.
Major Application in Bakery Products and Ice Creams
The demand for monoglyceride in the bakery and ice creams products has witnessed an upsurge across the globe, which is playing a key role in the growth of the monoglyceride market. Manufacturers are adding monoglycerides to the finished products, to increase the overall quality of the bakery and ice cream items. The impact of this driver is quite significant but is expected to further increase in the next four to five years. Monoglycerides help in maintaining sensory characteristics of foods. This characteristic of producing healthier food products that are similar in taste and low in fat content has enabled increased acceptance of monoglyceride in the market. Moreover, the processed food industry across the globe is also growing rapidly, driven by factors such as increasing population and growth in per capita disposable income. Health conscious consumers are increasingly shifting preference towards healthy and nutritious food products and natural ingredients. As a result, the growth of the monoglyceride market is expected to increase significantly over the forecast period.
Global Monoglyceride: Market Segmentation
On the basis of type, the global Monoglyceride market has been segmented as –
- Distilled Monoglyceride
On the basis of application, the global Monoglyceride market has been segmented as –
- Food & Beverage
- Bakery & Confectionary
- Meat & Poultry
- Sauces & Dressings
- Dairy & Frozen Products
- Personal Care
Global Monoglyceride Market: Key Players
Some of the major manufacturers and suppliers operating in the global monoglyceride market are: BASF SE, Archer Daniels Midland Company, Akzo Nobel N.V., P&G Chemicals, Stepan Company, Kerry Group Plc., Sasol Limited, CP Kelco, Cargill Inc. and PMC Biogenix, Inc. among other monoglyceride players. Apart from the above mentioned companies, many other manufacturers are also entering the monoglyceride market, owing to its wide application in the bakery and confectionary industry, resulting in high demand for monoglyceride over the forecast period.
Opportunities for Market Participants for Monoglyceride
Understanding customer needs and offering products accordingly, with specified characteristics, should be the key focus area for the new manufacturers entering in the monoglyceride market. The limited product range of medicated confectionery is also expected to create an opportunity for monoglyceride manufactures. Rising demand for food emulsifier’s products is resulting in the significant potential for growth for monoglyceride market during the forecast period. Rising food safety issues, increasing consumption of bakery products and functional foods, and increasing health concerns among people are the major factors which could be analyzed as an opportunity by the manufactures operating in the monoglyceride industry. Moreover, the monoglyceride market offers immense scope for development of an array of new products that can combat obesity-related issues. This presents a significant opportunity for manufacturers to focus on demand arising from consumers who are shifting preference towards products that offer health benefits. Additionally, the consumption of processed meat is on the rise across the world. Hence manufacturers of monoglyceride can enter into a joint venture with the processed meat manufactures, in order to create an opportunity of growth in the global monoglyceride market.
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