Sodium Stearoyl Lactylate Market to Exceed US$ 498.7 Mn by 2032 Amid Burgeoning Demand for Unique Food Flavors among Millennials | Future Market Insights, Inc.
The U.S. sodium stearoyl lactylate market is projected to grow at a CAGR of around 6.1% over the next ten years. The Europe sodium stearoyl lactylate market is set to hold around 7.1% of the total revenue share in 2022. Asia Pacific, North America, and Europe are the major regions driving demand for sodium stearoyl lactylates
DUBAI, United Arab Emirates, Sept. 29, 2022 (GLOBE NEWSWIRE) -- The global sodium stearoyl lactylates market size is expected to develop at a CAGR of 7.1% from 2022 to 2032. The market is projected to reach a valuation of approximately US$ 498.7 Mn by 2032. The global sodium stearoyl lactylates market is anticipated to be valued at US$ 309.3 Mn in 2022.
With radical improvements in the global economy, there has been a significant surge in the per capita disposable income of consumers across the globe. Growing trends of globalization and urbanization in the majority of countries worldwide and increasing awareness regarding the availability of a wide variety of new flavors for food & beverages are expected to boost the global sodium stearoyl lactylate market in the forecast period.
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High demand for ready-to-eat food products and increasing popularity of the dine-out trend in various parts of the globe, especially among the millennial population, are anticipated to augur well for the sodium stearoyl lactylates market in the evaluation period. With rapid growth of the food & beverages sector, especially the bakery & confectionery and processed food industries, the demand for sodium stearoyl lactylate is likely to grow at a fast pace in the upcoming decade.
Key Takeaways from Sodium Stearoyl Lactylate Market Study
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By nature, the natural segment is set to witness a prominent CAGR of 7.4% from 2022 to 2032 to reach a valuation of US$ 498.7 Mn in 2032.
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Based on end use, revenue of the bakery & confectionery segment is expected to grow by 7.1% during the forthcoming period of 2022-2032.
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By form type, the fine powder segment exhibited a considerable growth rate of nearly 6.8% between 2020 and 2021.
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The global sodium stearoyl lactylate market exhibited steady growth at a CAGR of 5.6% in the historical period (2017-2021).
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The U.S. sodium stearoyl lactylate market is projected to grow at a CAGR of around 6.1% over the next ten years.
“Growing use of sodium stearoyl lactylates in processed foods is one of the key factors driving the global market forward. Additionally, rising foreign direct investments and introduction of contemporary retail formats are some of the other factors driving the processed food industry, which would propel the sodium stearoyl lactylate market in the evaluation period,” says a Future Market Insights analyst.
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