Portland, OR, Feb. 24, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global sugar alcohol market was estimated at $3.36 billion in 2019 and is expected to hit $4.80 billion by 2027, registering a CAGR of 5.9% from 2021 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Increase in demand for polyols in the food industry, rise in prevalence of obesity and diabetes, and surge in demand for polyols in pharmaceutical applications drive the growth of the global sugar alcohol market. On the other hand, high production costs impede the growth to some extent. However, innovations in product development are anticipated to create lucrative opportunities in the industry.
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Covid-19 scenario-
- The outbreak of covid-19 led to distorted supply chain and accordingly, the global market for sugar alcohol was disrupted to some extent.
- On the other hand, demand for low-calorie healthy food products has increased during the pandemic. Moreover, gradual relaxations on the existing restrictions are expected to help the market in recouping soon.
The global sugar alcohol market is analyzed across type, form, application, and region. Based on type, the sorbitol segment contributed to around half of the total market share in 2019, and is projected to rule the roost by the end of 2027. The mannitol segment, on the other hand, would register the fastest CAGR of 7.5% from 2021 to 2027.
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Based on form, the powder & crystal segment accounted for more than three-fifths of the total market revenue in 2019, and is expected to lead the trail by 2027. Simultaneously, the liquid & syrup segment would grow at the fastest CAGR of 6.4% during the forecast period.
Based on region, Europe held the major share in 2019, garnering nearly two-fifths of the global sugar alcohol market. At the same time, the market across Asia-Pacific would exhibit the fastest CAGR of 6.8% throughout the forecast period. The other two provinces studied in the report include North America and LAMEA.
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The leading market players analyzed in the global sugar alcohol market report include Spectrum Chemical Manufacturing Corp., Archer Daniels Midland Company, Ingredion Incorporated, Mitsubishi Shoji Foodtech Co. Ltd, Roquette Freres SA, Tate & Lyle PLC¸ Atlantic Chemicals Trading GmbH, Cargill Incorporated, Associated British Foods plc (SPI Pharma), and DuPont. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to strengthen their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.