For the Quarter Ending September 2025
APAC
• In India, the Polysorbate Price Index fell by 7.3% quarter-over-quarter, reflecting weaker downstream demand broadly.
• The average Polysorbate price for the quarter was approximately USD 1659.58/MT, according to trade sources.
• Polysorbate Spot Price softened as traders destocked, lowering availability and prompting opportunistic buying by manufacturers.
• Polysorbate Price Forecast indicates short term stabilization, with seasonal restocking and input cost fluctuations balancing.
• Polysorbate Production Cost Trend improved as sorbitol and fatty acid input prices eased, reducing manufacturing pressure.
• Polysorbate Demand Outlook remains mixed, pharma procurement selective while food and personal care demand steadies.
• Polysorbate Price Index tightened due to freight delays and monsoon disruptions, then eased with ample inventories.
• Domestic blending expansions improved competitiveness, supporting local supply, moderating Polysorbate Price volatility for retailers.
Why did the price of Polysorbate change in September 2025 in APAC?
• Sorbitol cost decline reduced production expenses, allowing manufacturers to lower offers and pressure the Price Index.
• Selective pharma buying and moderate food demand constrained offtake, contributing to weaker Polysorbate Price Index.
• Monsoon-driven logistics and shipping delays caused intermittent tightness but did not offset overall downward pricing momentum.
Europe
• In Europe, the Polysorbate Price Index displayed a mixed trend through Q3 2025, with firm pricing in early quarter driven by food and pharmaceutical demand, followed by a mild softening in September.
• Polysorbate Spot Price strengthened during July and August amid strong seasonal orders from personal care manufacturers and stabilizing production rates.
• By late September, Spot Price eased as inventory levels improved and buying momentum moderated across end-user industries.
• Polysorbate Production Cost Trend remained largely stable through Q3 2025—feedstock sorbitol and ethylene oxide prices saw minor adjustments but energy and logistics costs softened slightly.
• Polysorbate Price Forecast suggests continued mixed movement into Q4 2025, with limited upside expected as downstream demand from cosmetics and processed food sectors steadies.
• Polysorbate Demand Outlook in Europe remains healthy, led by robust requirements in personal care, pharmaceutical, and food processing segments, offset by weaker industrial use.
• Improved production rates in Western Europe and consistent imports from Asia helped maintain balanced regional availability, limiting any significant volatility in the Price Index.
• Stable freight rates and soft energy prices provided cost relief to producers, preventing sharp price escalations.
Why did the price of Polysorbate change in September 2025 in Europe?
• In September 2025, the Polysorbate Price Index decreased slightly as downstream orders slowed after strong mid-year restocking cycles.
• Ample stock positions and subdued raw material costs resulted in moderate Spot Price adjustments.
• With Production Cost Trend stable, the decline was primarily driven by lower short-term demand rather than input cost pressures.
North America
• In North America, the Polysorbate Price Index showed a mixed trajectory through Q3 2025—prices held firm in mid-quarter but softened marginally toward September.
• Polysorbate Spot Price rose in July and August, driven by sustained demand from emulsifier and solubilizer segments in personal care and food products.
• Toward September, Spot Price declined slightly as industrial activity slowed and distributors maintained sufficient inventories.
• Polysorbate Production Cost Trend remained steady, with moderate fluctuations in sorbitol and ethylene oxide feedstock values offset by lower transportation and energy costs.
• Polysorbate Price Forecast indicates a mixed outlook into Q4 2025—pricing stability is expected, but marginal softening may occur if industrial consumption remains subdued.
• Polysorbate Demand Outlook across North America stayed favorable, supported by growing food additive applications and steady cosmetic and pharma-grade consumption.
• Balanced domestic supply and stable import volumes maintained market equilibrium and prevented extreme Price Index movements.
• Declining logistics costs and favorable production economics improved producer margins while keeping end-user pricing relatively stable.
Why did the price of Polysorbate change in September 2025 in North America?
• In September 2025, the Polysorbate Price Index decreased modestly, as seasonal demand from food and personal care manufacturers waned.
• Improved stock availability and lower freight costs further pressured Spot Prices across the region.
• With a steady Production Cost Trend, the mild decline reflected temporary demand softness rather than structural cost changes.
For the Quarter Ending June 2025
North America
• The Price Index remained stable throughout Q2 2025 due to balanced feedstock prices and steady demand from the food and pharmaceutical sectors.
• The Polysorbate Production Cost Trend stayed level as both sorbitol and fatty acid prices stabilized following earlier fluctuations.
• Food manufacturing demand was strong, particularly in bakery and frozen dessert applications, which supported stable pricing.
• Tightening of ingredient purity standards by the U.S. FDA influenced prudent procurement decisions and sustained the use of pharmaceutical-grade polysorbates.
• Imports from Asia supplied sufficient volumes, keeping the U.S. market well-stocked despite scheduling congestion at East Coast ports.
• The launch of clean-label products in QSR chains helped maintain emulsifier consumption, signaling a firm Polysorbate Demand Outlook.
• The Polysorbate Price Forecast for Q3 was projected to remain steady, though slight upward risk was noted due to potential hurricane-related disruptions.
Asia-Pacific
• The Polysorbate Spot Price in India rose by 4.7% in Q2, with the Price Index showing consistent upward momentum in the early part of the quarter.
• The Price Index increased due to strong demand from the food and personal care industries, despite fluctuations in feedstock prices.
• The Polysorbate Production Cost Trend climbed as sorbitol prices rose across Q2, compounded by monsoon-related logistics challenges.
• Domestic manufacturing capacity remained constrained, even as companies like Mohini Organics and Vantage expanded blending operations.
• Regulatory standards enforced by FSSAI led to improved product quality, which indirectly raised production costs.
• The Polysorbate Demand Outlook was strong, driven by increasing adoption in dairy, QSR, and functional beverage segments.
• Demand in urban FMCG sectors surged, particularly in beverages, desserts, and sauces, as major brands like Amul, ITC, and HUL expanded polysorbate usage.
• The Polysorbate Price Forecast at quarter-end indicated a potential for further short-term increases unless monsoon-related supply disruptions eased.
Europe
• The Polysorbate Spot Price in Europe declined slightly by 1.5% during Q2, as the Price Index softened for the first time in three months.
• The Price Index decreased mainly due to weakened demand from the cosmetic sector and improved feedstock availability, particularly sorbitol.
• The Polysorbate Production Cost Trend eased marginally as sourcing of fatty acid esters improved and energy prices remained stable.
• While food and pharmaceutical demand held steady, usage in cosmetics and personal care declined due to seasonal inventory corrections.
• Import reliance reduced slightly, as regional formulators—especially in Germany and France—ramped up domestic capacities.
• The Polysorbate Demand Outlook for Q3 was moderately bullish, supported by ongoing innovation in plant-based and dairy food categories.
• Regulatory updates from EFSA on emulsifier usage limits prompted reformulations in some bakery and processed food SKUs.
• The Polysorbate Price Forecast for Q3 anticipated a neutral to soft trend unless pharmaceutical restocking increased after the summer.
For the Quarter Ending March 2025
North America
In Q1 2025, the polysorbate market in the USA experienced a mixed price trend, shaped by fluctuations in sorbitol feedstock costs, industry demand, and global trade dynamics. January saw a price decline as sorbitol costs decreased, which lowered production expenses for polysorbate manufacturers.
The lower production costs, combined with a deceleration in the pharmaceutical sector’s growth and moderate demand from the food and beverage industries, led to price stabilization in early January. By February, however, rising sorbitol (feedstock) prices and increased demand from the booming cosmetics and pharmaceutical sectors exerted upward pressure on polysorbate prices.
The expansion of the pharmaceutical industry, particularly in contract manufacturing and the increasing demand for emulsifiers in drug formulations, contributed to this trend. The cosmetics industry’s shift toward organic and natural products also bolstered demand. March continued the upward momentum, with prices continuing to rise as sorbitol costs stabilized, while the food and beverage sector maintained steady demand for polysorbates in emulsifying and stabilizing formulations.
APAC
In Q1 2025, the polysorbate market in the APAC region, particularly in India, experienced a mixed price trend driven by sorbitol feedstock costs, demand from key sectors, and global trade dynamics. In January, prices declined as sorbitol prices fell, easing production costs for manufacturers, though demand in the pharmaceutical sector slowed. However, by February, rising sorbitol costs and increased demand from the expanding pharmaceuticals and cosmetics sectors led to price increases, with CFR Kandla quotations rising 4.7%. March saw continued upward pressure on prices due to stable sorbitol prices and rising demand in the food and beverage sector, where polysorbates are crucial for emulsification. Despite disruptions in global trade and geopolitical tensions, India maintained steady production levels, relying on imports from China. Overall, the market experienced moderate price fluctuations, with steady demand from food, pharmaceutical, and cosmetics industries driving prices higher towards the end of the quarter. The market outlook remains cautiously optimistic, supported by strong sector growth and stable demand.
Europe
In Q1 2025, the polysorbate market in Europe saw a mixed price trend, driven by higher sorbitol (feedstock) prices, robust demand from key sectors, and external trade factors. Early in the quarter, prices initially decreased as sorbitol costs fell, leading to a reduction in production expenses for manufacturers. This created a window of opportunity for price stabilization in January. However, the pharmaceutical sector saw slower-than-expected growth, and demand from the food and beverage industry remained moderate, leading to a stabilization in prices during the month. By March, polysorbate prices began to rise again as sorbitol prices held steady, while demand from the food and beverage sector remained strong. Polysorbates play a crucial role in emulsifying and stabilizing food products, contributing to the growth of this sector. The ongoing demand from the pharmaceutical and cosmetics industries further supported the upward trend. Despite global trade challenges, including geopolitical uncertainties and supply chain disruptions, Europe managed to maintain steady production levels, with imports helping to stabilize the supply chain. The demand for polysorbates in key sectors, such as food, pharmaceuticals, and cosmetics, remained solid, indicating a strong market for the product.
For the Quarter Ending December 2024
North America
In Q4 2024, polysorbate prices in North America experienced significant fluctuations due to a mix of demand and supply-side factors. At the start of the quarter, prices saw an increase, driven by strong demand in the pharmaceutical and food sectors, as well as higher feedstock costs, particularly for sorbitol. Additionally, supply chain disruptions, including shipping delays and logistical bottlenecks, led to higher transportation costs, further driving up prices.
However, as the quarter progressed, a downward shift in polysorbate prices occurred, primarily due to slower-than-expected growth in the pharmaceutical sector. The North American pharmaceutical market faced challenges, including a decrease in demand for polysorbates used in certain drug formulations, reducing the upward pressure on prices. Moreover, lower production costs, supported by favourable international raw material prices and currency fluctuations, contributed to easing the price increases seen earlier in the quarter.
Although demand from the food and beverage sectors remained steady, it was insufficient to offset the reduction in pharmaceutical consumption. As a result, polysorbate prices declined by the end of Q4 2024 in North America.
APAC
In Q4 2024, the price trend for polysorbates in the APAC region saw considerable fluctuations, influenced by a mix of demand and supply-side factors. Early in the quarter, particularly in October, polysorbate prices experienced an uptick, driven by increased demand during the festive season in several APAC countries and rising feedstock costs, particularly sorbitol. Supply chain disruptions, such as container shortages and shipping delays, compounded by higher logistical costs, further pressured prices upwards across the region.
However, towards the end of Q4 2024, a negative trend began to emerge, with polysorbate prices softening due to weaker-than-expected growth in key markets such as India and China. In particular, the pharmaceutical sector in the APAC region faced slower-than-anticipated growth, with reduced demand for polysorbates used in drug formulations. This decline in pharmaceutical demand contributed to a decrease in overall price pressures. Additionally, favourable international raw material prices, combined with currency fluctuations and lower production costs, further alleviated the upward pressure on polysorbate prices.
While demand in the food and beverage sectors remained relatively steady across the region, it was not enough to offset the decline in pharmaceutical consumption, leading to an overall decrease in polysorbate prices by the close of Q4 2024 in the APAC region.
Europe
In Q4 2024, the price trend for polysorbates in Europe experienced mixed market dynamics, influenced by both demand and supply-side factors. Early in the quarter, prices saw an increase, largely driven by higher demand in the pharmaceutical and food sectors, as well as rising feedstock costs, particularly sorbitol. Supply chain challenges, including shipping delays and rising logistical costs, further contributed to the upward pressure on polysorbate prices in Europe.
However, towards the end of the quarter, a negative price trend began to emerge, largely due to softer-than-expected growth in the European pharmaceutical market. The demand for polysorbates used in drug formulations weakened, leading to a reduction in price pressures. In addition, favorable raw material prices internationally, along with a favorable currency exchange rate, helped lower production costs, easing the upward pressure on polysorbate prices.
While the food and beverage sectors maintained steady demand for polysorbates, this was not sufficient to offset the decline in pharmaceutical consumption, resulting in an overall decrease in polysorbate prices in Europe by the end of Q4 2024.
