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GlobalSuccinoglycan Market: Market Outlook
Succinoglycan is compatible withproteins and can be used to give acidified milk drinks suspension and texture.It's made by bacterial fermentation with Agrobacterium tumefaciens, a naturallyoccurring microorganism. Succinoglycan's rheological properties allow forefficient dressing suspension and a pleasant mouthfeel. The fast-growing foodand beverage industry in major economies around the world, such as the UnitedStates, Europe, India, and China, is expected to drive product growth over thenext eight years as consumers become more reliant on packaged foods.
The Succinoglycanmarket is primarily driven by its widespread use in thicker in bakeryand confectionery products, sauces, dressings, drinks, dairy and frozendesserts, and processed foods in the food and beverage industry. Also,thickeners have additional advantages such as multifunctionality, nutrientabsorption, compatibility with other ingredients, low cost, and plentifulsupply.
High Demand foradditives in the food industry to boost the Succinoglycan market growth
Market growth is expected to beboosted by factors such as continued product innovation, shifting consumerpreferences for high-quality products, and strengthened government foodregulations. Over the forecast period, demand is expected to be bolstered byfavorable government regulations relating to the growth of the food &beverage industry.
Furthermore, advances in theextraction and processing of food thickeners from new natural sources are oneof the most significant opportunities for researchers and leading players inthe global market. Furthermore, demand for ready-to-eat snacks, protein-richproducts, and nutritious foods is expected to grow in the coming years whichmay increase the sales of Succinoglycan
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Because Succinoglycan can withstandhigh temperatures, Succinoglycan is becoming more popular as a stabilizer andthickener in pie fillings, icings, and meringues in the bakery andconfectionery industry. The baking ingredients market is expected to expand inresponse to the rising demand for ready-to-eat foods. In emerging markets, theshift from traditional home-cooked food to convenience foods has increaseddemand for these baking ingredients especially thickeners which in turn isexpected to boost the demand for Succinoglycan.
Increasedapplication of Succinoglycan in Cosmetic Industry to accelerate the globaldemand
The cosmetics ingredient market'sprospects appear bright during the forecast period, thanks to consistentadvances in cosmetic technology over the last decade. A considerable number ofcompanies in the cosmetics ingredient market are currently pursuingsustainability as a means of gaining a competitive advantage in the currentmarket.
Succinoglycan is safe and is widelyused in, makeup, skin & hair care products in the pharmaceutical andpersonal care industries. It can be used as a foam stabilizer, a foam enhancer,and a thickener in shampoos, liquid soaps, creams and lotions, and toothpastedue to its distinctive rheological properties
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Increased use ofnatural and plant-based ingredient is a major challenge for the manufacturers
Consumers are gravitating toward theuse of herbal cosmetics, which they perceive to be healthier alternatives totraditional cosmetics. Herbal cosmetics help to balance hormones, promotenatural healing, boost immunity, and have fewer side effects on the body.Herbal cosmetics and personal care products are more popular than commerciallyavailable ones. Customers' growing demand for herbal cosmetics is forcingproducers to offer herbal cosmetic ingredients, and this trend is expected tocontinue during the forecast period.
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Global Succinoglycan Market– Key Players
Some ofthe 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
Theflourishing cosmetic & personal care industry is in high potential marketssuch as North America and Europe is creating ample opportunities for theSuccinoglycan manufacturers.
Because ofchanging lifestyles and an increasing working population, the emerging marketsfor Succinoglycan are expanding, creating enormous potential for the processedfood industry. Economic booms in India and China have resulted in increasedurbanization and disposable income, resulting in a wider market for convenienceand ready-to-eat food products.
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COVID-19 Impact onSuccinoglycan Market
ThePandemic affected businesses all over the world and restrictions imposed inseveral 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 closetheir manufacturing. Although quinoa flour manufacturers experienced low salesfrom the foodservice sector, retail sales of food products were high.
Due to thenovel coronavirus outbreak, the global food and beverage industry had a minorto moderate impact. Consumers' desire to avoid being harmed by the virusboosted nutritional product sales. During the outbreak, there was ahigher-than-usual demand for more natural products which is expected theSuccinoglycan Market.
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