LONDON--(BUSINESS WIRE)--The sodium tripolyphosphate (STPP) market is expected to grow by USD 190.26 million during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Changing consumer behavior and the thriving processed food industry are likely to have a significant influence on the global STPP market during the forecast period. STPP is widely used in convenience foods and the fast food industry as it improves texture, helps in moisture retention, and increases the shelf life of the products. STPP is used as a pH regulator, emulsifier, chelating agent, stabilizer, preservative, and thickening agent in red meat, poultry, dairy products, canned food, and seafood. The global demand for meat is increasing due to the easy availability of meat in the retail stores. The demand for milk and milk products is also rising on a year-over-year basis as it offers calcium, potassium, vitamin D, and protein. Therefore, the growth in the processed food industry will be a major driver for the growth of the STPP market during the forecast period.
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As per Technavio, the increasing use of STTP in personal care products and cosmetics will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Sodium Tripolyphosphate Market : Increasing Use of STTP in Personal Care Products and Cosmetics
STTP is widely used in personal care applications such as cosmetics. It is used as a chelating agent and pH adjuster in bath products, colognes, dentifrices, mouthwashes and other skincare products. In skin care products STPP is used as an emulsifier to stabilize the oil droplets or water in lotions and creams. In cosmetics, STPP is used for dispersing color pigments. The growing personal care products market will positively impact the global STTP market.
“Factors such as the emerging applications in the agricultural sector, and the growth of medical tourism will have a positive impact on the growth of the sodium tripolyphosphate market value during the forecast period,” says a senior analyst at Technavio.
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Sodium Tripolyphosphate Market: Segmentation Analysis
This market research report segments the sodium tripolyphosphate market by end-user (detergent and cleaning products, food and beverages, water treatment and others), and geographic (APAC, Europe, MEA, North America and South America).
The APAC region led the sodium tripolyphosphate market in 2019, followed by North America, Europe, South America and MEA. During the forecast period, APAC is expected to register the highest incremental growth due to factors such as the growth of end-user industries, such as pharmaceuticals and agrochemicals in the region.
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Some of the key topics covered in the report include:
End-user
- Detergent and cleaning products
- Food and beverages
- Water treatment
- Others
Geographic Segmentation
- APAC
- Europe
- MEA
- North America
- South America
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
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