Growing Disposable Income Among Young Consumers In Asia Pacific Is Bolstering The Sales Of Pullulan Market
Pullulan Market Forecast and CAGR
Latest industry analysis on pullulan by Fact.MR estimates market to grow substantially over the forecast period. This is mainly attributed to its use in high growth industries such as food and pharmaceutical. Further, pullulan’s penetration in cosmetic industry has also provided an upshot to its sales over the years and is projected to be on same path for next ten years.
Moreover, use of pullulan for the manufacturing of skin care products is projected to gain traction owing to various benefits associated with skin. Also, application of products in packaging materials has propelled its use in food industry. Attributed to these features, Fact.MR estimates product sales to grow a CAGR of around 5.6% through 2021-2031.
What is Driving Demand for Pullulan?
Pullulan comes equipped with various properties that are driving its demand in the market. For instance, high solubility along with oxygen barrier properties makes it highly useful to be used in pharmaceutical industries. Additionally, the ability to be used as film formers makes its fit for application in food industry.
Further, characteristics like thickening, binding along adhesive properties have proved to improve the texture of food. Also, its properties are highly effective to be used in packaging materials thus improving the shelf life. Hence, food industry has been constantly propelling its growth over past few years.
Moreover, use of products in the cosmetic industry is extensive and the segment is projected to hold prominent share over the next ten years. This can mainly be attributed to its application in lotions, facial masks, shampoos and oral care products.
Attributed to above-discussed factors pullulan is projected to see a surge in demand and sales over the next decade.
Cosmetic Grade Pullulan to Foster the Market Growth
Pullulan enhances the immune response thus making skin resistant to infections. Also due to its tightening effect and water solubility, product is being highly recommended in the cosmetic industry.
Additionally, its excellent ability to form heat sealable film along with good oxygen barrier properties makes its best to be used in cosmetic products. Other properties which has helped in the growth of product in cosmetic industry over the years has been its use as encapsulating, adhesives and extending agents.
Moreover, there has been a rise in the use of cosmetics with consumers demanding high-quality products equipped with additional benefits. Also, non-toxic properties of product have extended their use to other sectors such as food and pharmaceuticals as well.
Owing to above-discussed factors cosmetic industry is projected to provide high absolute growth opportunities for the product over the projected forecast period 2021-2031.
Europe Pullulan Sales Outlook
Europe has been estimated to provide high growth opportunity to the market owing to well established cosmetic industry in the region. With an estimated US$ 20 Bn industry, skincare is the fastest growing cosmetic segment.
Also, rising demand for non-toxic cosmetic products is propelling the product’s sales in the region. Further, cosmetic companies in Europe on an average spend 7% of their annual revenue on R&D thus driving innovation in its products.
Moreover, high spending capacity of European consumers over the years has fostered the revenue generation capacity of companies thus bolstering the sales of pullulan. Europe is thus projected to provide high incremental growth opportunity to product’s growth over the forecast period i.e. 2021-2031.
Asia Pacific Pullulan Sales Outlook
Asia Pacific is projected to provide most lucrative market for product owing to rise in popularity of packaged food along with constant demand from cosmetic industry.
Additionally, over the years there has been a rise in consciousness towards appearance among Asian customers thus demand for cosmetic products have seen significant growth.
Growing disposable income among young consumers in Asia Pacific is also a major reason behind the heightening sales of product and for the use of pullulan in cosmetic industry in the region. High absolute $ opportunity is projected to be provided by Asia Pacific region over the forecast period 2021-2031.
Who are the Key Manufacturers and Suppliers of Pullulan?
- Meihua Group
- Haihang Industry
- Kumar Organics
are some of the prominent players in the manufacturing and supply of pullulan.
These key players have been practicing organic growth strategies such as product development, capacity expansion and innovation to expand their business and garner market share.
- Food Grade
- Pharma Grade
- Cosmetic Grade
- Edible film
- Energy film
- Breath strips
- Tablets Production
- Coatings Production
By End Use Industry
- Packaging Industry
- Cosmetic Industry
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
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