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Sodium Caseinate Market Size – USD 919.7 Million in 2018, Market Growth - CAGR of 6.7%, Market Trends – Growing demand for processed food
NEW YORK CITY, NY, UNITED STATES, November 26, 2021 /EINPresswire.com / -- The global sodium caseinate market is expected to reach USD 1.67 Billion by 2027, according to a new report by Reports and Data. The growth of the market may be attributed to the growing applications of sodium caseinate.
Surging demand for sodium caseinate as an additive in the food & beverage industry is one of the significant factors influencing the market growth. Sodium caseinate finds application as a nutritional supplement, thickening agent, emulsifying agent, and stabilizing agent in food, including bread, candy, biscuits, cakes, gravy, yogurt, meat, and seafood. In sausage, sodium caseinate may be applied to make uniform distribution of fat, and improve the adhesion characteristic of meat. Moreover, in ice creams, the application of the chemical assist in the prevention of sugar contraction and condensation.
The growing use of sodium caseinate as an intermediate in the pharmaceutical industry is projected to drive the market demand in the forecast period. It is a non-toxic, inexpensive, and highly stable chemical. Sodium caseinate, owing to its physicochemical and structural properties, provides beneficial functionalities as drug delivery vehicles. Also, it is used in pharmaceutical formulations for the re-mineralization of carious lesions in dental enamel.
According to a survey, sodium caseinate has the highest reported maximum concentration of use, and it is used at around 96.9% in bath oils, salts, and tablets.
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Latin America and Middle East & Africa are projected to open a window of opportunities for the growth of the market in the upcoming years. Growing demand for sodium caseinate in Latin America is projected to be mainly driven by the expansion of the food & beverage industry.
Key participants include: AMCO Proteins, Erie Foods International Inc., Charotar Casein Company, Farbest Brands, Fonterra Cooperative Group, Avani Food Products, Israel Chemicals Limited, Lactoprot Deutschland GmbH, Agrocomplex, and Ningxia Yimei Biotechnology Co. Ltd., among others.
The materials and chemical industry has registered a rapid revenue growth over the recent past owing to the constant requirement for materials and chemicals across various sectors including agriculture, pharmaceutical and biotechnology, paper, healthcare, food and beverage, and manufacturing among others. Rapid demand for products like perfumes, soaps, detergents for daily usage, increasing adoption of green energy and organic products, increasing investments in research and development activities, and rising support from various public and private sectors are key factors fueling global Sodium Caseinate market growth. In addition, factors such as rising disposable income, increasing efforts to reduce carbon footprint and consumer shift to eco-friendly and sustainable products are expected to fuel overall market growth going ahead.
The report additionally evaluates the manufacturers of the market with respect to market size and share, distribution, sales network and distribution channels, global position, recent research and development activities, and product portfolio among others to offer a competitive edge to the readers. The report also sheds light on the recent mergers and acquisitions, joint ventures, collaborations, and partnerships happening in the market that are significantly influencing the revenue growth. The competitive landscape section also covers SWOT analysis and Porter's Five Forces analysis to provide better insights into the competition in the market.
Further key findings from the report suggest
By grade, food-grade sodium caseinate held a larger market share in 2018. This grade is considered safe from consumption by humans. It is used as an emulsifying agent, thickening agent, and stabilizing agent, among others
By distribution channel, the online distribution channel is likely to grow at a faster rate of 9.2% in the period 2019-2027, as this mode of distribution has the advantage of providing a broader exposure to the product produced by the manufacturers, especially with the proliferation of smart devices and internet connectivity.
By application, pharmaceutical applications are anticipated to witness a growth rate of 6.8% in the forecast period.
The market in the Asia Pacific region is contributed to the largest market share in 2018 and is expected to grow at a rate of 7.2% in the forecast period. The market dominance of the APAC region may be attributed to the growth of the food & beverage industry, especially in developing nations, such as China and India, in the region.
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For the purpose of this report, Reports and Data have segmented the global sodium caseinate market on the basis of grade, distribution channel, application, and region:
Grade Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Food & Beverage
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Regional Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Customization of this report is available as per the client's needs. Kindly connect with us to know more and our team will ensure the report is well suited to meet your requirements.
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