Sodium Caseinate Market Size – USD 919.7 Million in 2018, Sodium Caseinate Market Growth – CAGR of 6.7%
NEW YORK, NY, UNITED STATES, March 30, 2020 /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.
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.
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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.
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.
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.
• 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.
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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)
• Food Grade
• Industrial Grade
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
• Personal Care
Regional Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
• North America
• Asia Pacific
• Latin America
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Source: EIN Presswire