VALLEY COTTAGE, New York, Aug. 21, 2019 /PRNewswire/ — According to the latest research from Future Market Insights (FMI), the worldwide sales of sodium caseinate will increase ~5% year-over-year to reach ~270 thousand tons in 2019, up from ~258 thousand tons in 2018.
FMI analysts forecast the sodium caseinate market to grow at a value CAGR of ~6% through to 2029, driven by greater demand for functional or fortified foods along with the shift of high-protein trend from niche to mainstream. The analyst finds that the sheer volume of bakery consumption in recent years has largely contributed the increased sales of different types of protein, thereby potentially raising the demand for sodium caseinate.
Offering whipping and aeration stability to food emulsions, sodium caseinate has garnered significant traction as a viable emulsifier or food additive in various sectors of F&B industry. However, the launch of animal-free emulsifiers in line with emerging trends of veganism and increasing awareness regarding the impact of food production, especially for animal-based products, on environment will represent a potential threat for the market players.
Sales of Food Grade Sodium Caseinate to Ramp up in 2019
According to the FMI analyst, the consumption of food grade sodium caseinate, especially for dairy, frozen foods, and bakery & confectionery products, continue to influence the growth strategies of the market players, as the category accounted for three-fourth share of the market in 2018.
To tap into opportunities in different end-use industries, ranging from cosmetics to chemical, manufacturers are focused on increasing the production of industrial grade sodium caseinate, which is likely to represent ~5% increase in sales in 2019.
“Sodium caseinate worth ~US$ 480 million were sold as food additive in 2018, while its application as emulsifier is likely to result in increased market share in the foreseeable future,” said the FMI analyst. “As today’s consumers move towards highly nutrient products which support weight management and counteract the risk of obesity and other lifestyle diseases, F&B manufacturers are increasingly demanding for sodium caseinate as an ideal fat free stabilizer for wide range of products.”
The global food industry no longer looks like its former self, as increased incomes, preferential shifts towards health and wellness, and structural shift towards urban living have brought significant transformation in recent years, according to the FMI analyst.
In 2018, the consumption of sodium caseinate by F&B industry accounted for ~70% sales, while the application in pharmaceuticals and cosmetics is likely to witness a quantum leap in growth in 2019 and beyond. Considering the nature and excellent properties of the product including high degree of emulsification, viscosity-enhancing, and foaming and gas retention, manufacturers are exploring the application of sodium caseinate in chemical and other industrial products.
East Asia to Take Centre Stage in Sodium Caseinate Market
The FMI analyst forecasts that Europe and East Asia are neck and neck to acquire the leading position in sodium caseinate market. Rising consumer interest in the benefits of high quality ingredients in various food products is likely to offer greater opportunities for market players in East Asia. In 2018, the East Asia market for sodium caseinate market accounted for ~26% revenue to share, and is expected to record ~6% y-o-y growth in 2019.
In the global scenario, the sodium caseinate market shows a high level of fragmentation, with a number of global players collectively accounting for 20-25% share. The emergence of large number of local consumers catering to domestic end users has resulted into contracted profit margins of the international players. Establishing strong relationship to distribution channel partners and strengthening manufacturing facilities continue to key focal points of the manufactures.
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