New York, US, Nov. 16, 2022 (GLOBE NEWSWIRE) -- Sorbitol Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), "Sorbitol Market Information by Function, Form, Application, and Region - Global Forecast till 2030", the market size is expected to rise with a CAGR of 5.12 % by the year 2030. It is anticipated to touch a total of USD 2,869.4 million by the end of the year 2030.
Market Scope:
Sugar alcohols, such as sorbitol, are a type of carbohydrate. It's added to food to make it taste better and sweeter. It's a humectant and a texturizing agent for a wide range of materials. As a possible essential chemical intermediate, it sees widespread use across a wide range of industries. Sorbitol is widely used in the food and beverage, cosmetics and personal care, medical, and pharmaceutical industries. It is also added to or used as a preservative in many processed and canned goods. Sorbitol is used to keep the emulsions in cosmetics from breaking up.
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Competitive Landscape:
To create technological advances, the large firms often form joint ventures or partnerships for specific projects, mergers, and acquisitions. They work hard to create final products and services that are one-of-a-kind in their approach, efficient in their execution, and effective in solving the problems they set out to address. The major market players are:
- Archer Daniels Midland Company (US)
- Cargill Incorporated (US)
- Roquette Freres (France)
- Ingredion Incorporated (US)
- Tereos Starch & Sweeteners (Brazil)
- Ecogreen Oleochemicals Pte Ltd (Singapore)
- Gulshan Polyols Ltd. (India)
- Merck Group (Germany)
- SPI Pharma, Inc. (UK)
- Sukhjit Starch & Chemicals Ltd. (India)
- DowDupont Inc. (US)
- Gujrat Ambuja Exports Ltd. (India)
- Jeecon Foods Pvt Ltd. (India)
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 2,869.4 Million |
| CAGR | 5.12% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Function, Form, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Awareness about the bad effects of artificial and processed sugar on health |
| demand for low-calorie food is increasing |
Market USP:
Market Drivers
The most important factor is the growing consciousness about the negative health impacts of added and processed sugars. There has been a shift toward the use of organic and natural sweeteners. Sorbitol demand is rising as a result of the rising popularity of low-calorie diets.
Sorbitol is being used as a nutritional additive by many people. Sorbitol's rising popularity can be attributed to the numerous health advantages it provides. Since more people are becoming aware of their need for organic or natural cosmetics and hygiene products, sales have skyrocketed. It's also commonly utilized in the production of dental and oral hygiene products.
Market Restraints
Seasonal changes impact sorbitol's availability. The climate has a significant impact on its quality and pricing. There are studies being done to determine how dangerous Sorbitol is. These are only a handful of the key factors holding back expansion in the sorbitol market.
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COVID-19 Analysis:
As a result of COVID-19, the demand for personal care and hygiene goods has increased, and big personal brands have ushered in a new awareness of purpose over profit. The preference of consumers everywhere has turned toward eco-friendly, all-natural skin care products. Substituting sorbitol for the petrochemical-based mono propylene glycol, manufacturers of consumer goods are moving away from creating cosmetics and personal care items that contain harmful chemicals (MPG).
Disruptions in the food and beverage industry have been severe during COVID-19. Sorbitol products are sourced from natural materials like corn starch and fruits, and supply of agricultural-based items has been greatly affected owing to lockdown, which has had a negative influence on creating demand for sorbitol products during the pandemic. Producing safe food, adhering to rigorous hygiene standards, and regularly sanitizing facilities were all issues for the food and beverage businesses. Audits of the food and beverage industry's hygienic practices have been conducted on a regular basis by regulatory agencies during COVID-19 to guarantee the highest possible standards. During the recent COVID-19 issue, these kind of activities helped businesses conform to the strictest cleanliness standards.
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Market Segmentation:
By Function
There will likely be significant growth in the sweetener market throughout the time frame under consideration.
By Form
Liquid form dominates the market because of its convenience, versatility, and low production costs.
By Application
Sorbitol, a nutritive sweetener giving nutritional energy, has several uses, although the food and beverage industry is the largest consumer of the substance.
Regional Analysis
The North American sorbitol market is likewise doing well, largely because to the substantial contribution made by the United States. Sales of sorbitol in this region are boosted in no small part by its popularity among non-food businesses. For a very long time, it has been a staple ingredient in toothpaste and other oral hygiene products. It aids in the prevention of oral cavities, which explains why it is finding more and more use in sugar-free chewing gums. Due to this cause, the North American market is predicted to expand.
The European region, which comprises Germany, the United Kingdom, France, Russia, and Italy, has the third-largest proportion of the global sorbitol market and is growing rapidly. People are quickly moving away from artificial sweeteners in favor of organic products, and this is in part owing to the intensive research and development initiatives related to the usage of sorbitol and its long-term impacts.
The economies of the countries in the Asia-Pacific area, which includes China, Japan, India, Australia, and South Korea, are expected to expand rapidly during the next few years. Sorbitol is utilized in the manufacturing of vitamin C, which accounts for the country's high consumption rates. Customers for organic and natural cosmetics with sorbitol as a significant ingredient are many in Indonesia's sorbitol market.
Slower but steady growth may be seen in the rest of the world, which includes the Middle East and Africa, despite lower levels of technological and industrial development, a lack of awareness, and less government activities.
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