The sorbitol market has witnessed significant growth over the past few years owing to its widespread usage in various industries such as food & beverages, pharmaceuticals, and others. Sorbitol provides texture, bulking, and stability to several food products and is commonly used as a sweetener and humectant in candies, baked goods, beverages, jams, and other products. It helps retain moisture content and also prevents crystallization in products. Sorbitol is also gaining popularity as a healthier alternative to sugar as it contains less calories with the same level of sweetness. The growing demand for low-calorie food and beverage products is expected to drive its adoption among food manufacturers.
The Global sorbitol market is estimated to be valued at US$ 1.89 Bn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Sorbitol Market Size are American International Foods, Inc., ADM, Cargill Incorporated, DuPont, Gulshan Polyols Ltd., Merck KGaA, Ecogreen Oleochemicals GmbH, Qinhuangdao Lihua Starch Co., Ltd., Roquette Frères, SPI Pharma, Tereos, Ingredion Incorporated, Kasyap Sweeteners, Ltd., Vizag Chemicals, CDH Fine Chemical, Gayatri bioorganics, and Silverline Chemica. The key opportunities in the market include increasing use of sorbitol as a bulking agent and humectant in new food items and beverages. Technological advancements are focused on developing innovative production processes to manufacture high-purity sorbitol from renewable sources at low cost through enzymatic conversion of glucose.
Market Drivers
The major market drivers for sorbitol include growing demand from the food & beverage industry for low-calorie and sugar-free products. Sorbitol is widely used as a sugar substitute and humectant in various foods such as baked goods, candies, jams, and beverages. The increasing health consciousness among consumers and surge in obesity cases are propelling the consumption of low-calorie food items which uses sorbitol as a sugar replacement. The oral-care market is also contributing to growth where it is employed as a humectant and sweetening agent in chewing gums and mints. Furthermore, the rising awareness about the functional benefits of sorbitol such as moisture retention is expected to drive its demand in various end-use industries.
Current challenges in Sorbitol Market
The sorbitol market is facing challenges like inconsistent supply and reduced demand due to the COVID-19 pandemic. Raw material prices are fluctuating which has negatively impacted the profit margins of manufacturers. Other challenges include stringent regulations related to food safety and quality. Regulations like food labeling and permitted levels of sorbitol in food products are making it difficult for companies to penetrate new regions. Moreover, the availability of substitute sweeteners like xylitol and maltitol is hindering the demand growth for sorbitol.
SWOT Analysis
Strength: Wide range of applications in various industries like food, pharmaceutical, personal care etc. acts as a major strength. It is a natural sweetener with high solubility which gives it an edge over competitors.
Weakness: Fluctuating raw material prices adversely impact production costs. Heavy dependence on few raw materials raises supply chain risks.
Opportunity: Growing demand for low-calorie and sugar-free products offers lucrative opportunities. Increasing health awareness is spurring demand for sorbitol as a sugar substitute. Market expansion in Asian countries expected to generate new opportunities.
Threats: Emergence of various alternative sweeteners pose threat to market share. Stringent food regulations can delay new product launches.
Geographical regions with market concentration in terms of value
North America holds the largest share in the global sorbitol market, both in terms of value and volume. This can be attributed to rising health awareness and increasing spending on low-calorie and sugar-free products. Europe accounts for a significant share owing to high per capita sugar and sugar-substitute consumption. Asia Pacific is expected to grow at the fastest rate with China and India emerging as major consumers.
Fastest growing geographical region
Asia Pacific region is poised to be the fastest growing geographical region for the sorbitol market during the forecast period. Increasing health awareness among people, rising number of diabetic patients, growing preference for low-calorie and sugar-free foods are major factors driving sales across emerging Asian countries like China, India, Indonesia etc. Rapid changes in dietary habits and spending power of individuals will favor market expansion in this region. Establishment of new manufacturing facilities by global leaders is further fueling regional market growth.
Get more insights on Sorbitol Market
30 January 2020 - The global Sorbitol Market size was 1.96 million tons in 2015.
Rising demand for artificial sweeteners with low-calorie content in food & beverages on account of increasing health awareness is expected to promote industry expansion over the forecast period.Growing demand for sorbitol as a functional ingredient in food & beverage, personal care, pharmaceutical, and chemical manufacturing will augment industry growth over the forecast period.
The increase of the food & beverage sector in China, India, and Brazil on account of growing number of retail stores and supportive regulations to promote investments will create immense market potential.Request a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/sorbitol-marketThe growing usage of artificial sweeteners in pharmaceutical applications including chewing tablets and syrups in the U.S., Germany, France and Japan will promote industry size over the forecast period.
Furthermore, increasing market penetration of artificial sweeteners including stevia, aspartame, mannitol and xylitol in applications including beverage, bakery goods, pharmaceuticals, personal care and chemical industries is expected to pose a challenge for industry expansionProduct InsightsLiquid sorbitol was extensively used and accounted for 82.7% of the global volume in 2015.
Growing applications of the product in the formulation of syrups, solvents, and gels on account of its sweetening effect will propel market growth over the forecast period.
Moreover, its increasing use as an excipient for pan coatings in the healthcare sector as they exhibit excellent solubilizing property will promote demand.Crystal product forms are expected to witness moderate revenue growth owing to high usage in manufacturing mint tablets, chewing gum, polydextrose and other sugar free-foodstuff including dried squid thread, roasted fish fillet, shrimp ball and frozen raw fish.Application InsightsToothpaste is projected to witness volume gains at a CAGR of 3.9% owing to increasing consumption of sorbitol for preventing dental problems including tooth decay and cavity issues.Demand for personal care products was 656.2 kilo tons in 2015.
The global Sorbitol Market is expected to reach USD 2.18 Billion by 2027.
Sorbitol is used in cosmetics as a humectant as well as a thickening agent, among others.
As a humectant ingredient, it checks the moisture loss by drawing water from the air through osmosis, therefore maintaining both the skin and the hair's moisture level.
Moreover, it gains frequent use in gel products, owing to its capacity to retain moisture.The report discusses in detail the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, product launches and brand promotions, and licensing agreements undertaken by the key players to gain a robust footing in the market.
The Sorbitol market research report also offers a thorough SWOT analysis and Porter’s Five Forces analysis to offer key insights into the company’s progress and position.Get sample copy of the report @ https://www.reportsanddata.com/sample-enquiry-form/2457Key Players:Key participants include America International Foods Inc., Archer Daniels Midland, Cargill Inc., DuPont, Merck KGaA, SPI Pharma, Roquette Frères, Tereos Starch & Sweeteners, Ecogreen Oleochemicals Pte.
Ltd., and Gulshan Polyols Ltd., among others.Further key findings from the report suggest:By product type, the liquid sorbitol segment contributed to a larger share in 2019 and is expected to grow at a rate of 6.1% during the forecast period.
