Sorbitol Market to Grow at a CAGR of 5.50% by 2030by Ganesh Kumar SEO Specialist
According to ChemAnalyst report, “Sorbitol Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, The Sorbitol market has witnessed significant growth as it reached 550 thousand tonnes in 2020 and is anticipated to achieve an impressive CAGR of 5.50% during the forecast period until 2030. Continuously growing demand for diabetic and diet foods as it is widely used as a reduced-calorie alternative to sugar by the major end-use industry i.e., food and beverages are likely to boost the market around the world within the next ten years. The production of Sorbitol is highly associated with the safety standards on human health before it can be introduced in the market, which further enhances the standard compliance.
Sorbitol also known as D-Sorbitol, or D-glucitol is a form of carbohydrate that falls under the category of sugar alcohols called polyols. Sorbitol is generally produced via a glucose reduction reaction in which the aldehyde group is converted into a hydroxyl group in the presence of a catalyst called aldose reductase. Sorbitol is extensively utilized as a sweetener, humectant, additive, texturizer, stabilizer, and a bulking agent in pharmaceutical, food, cosmetics, paper, leather, and other industries. It is also used as a feedstock for various chemicals including vitamin C, surfactants, resins, etc. According to the U.S. Food and Drug Administration (FDA), European Union, and World Health Organization (WHO), the consumption of Sorbitol is reviewed and recognized as safe, as well as potentially support digestive and oral health.
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Global Sorbitol Market is segmented on the basis of type, application, sales channel, and region. Based on type, there are two types of Sorbitol available in the market including liquid and powder. The powder/crystalline form of Sorbitol is primarily used in specialty foods, sweets, frozen fish and meat products, and pharmaceuticals. Whereas the liquid form of Sorbitol finds its applications in Pharmaceuticals and cosmetic emulsions. The liquid segment dominates the Sorbitol market across the globe due to its high demand for numerous applications.
On the basis of applications, the market is segregated into pharmaceuticals, personal care & cosmetics, food & beverages, and others. Among these, a plethora of applications in the food and beverage industry dominates the Sorbitol market across the globe. Continuously growing demand for Sorbitol in the pharmaceutical industry, as it is widely utilized as a laxative and helps to combat constipation and is expected to bolster the Sorbitol market in coming years. The rising number of diabetic patients and health-conscious consumers are propelling the demand for Sorbitol as it is widely used in the food and confectionary items as a reduced-calorie alternative to sugar and is likely to boost the Sorbitol market globally in the next few years. Continuously growing demand for Sorbitol due to its numerous applications in end-use industries is driving the sorbitol market across the globe. Due to the unique properties of Sorbitol, it can be easily incorporated with other food products without altering the recipe and is anticipated to accelerate the overall demand for Sorbitol by the cosmetic and pharmaceutical industry around the world. The surging demand for Sorbitol for the manufacturing of a wide range of cosmetic and skincare products like lotions, moisturizers, aftershave creams, shampoos, etc. it serves as a humectant and prevents moisture loss from skin and hair, is likely to boost the Sorbitol market over the next few years.
In 2016 during December, Cargill, Incorporated U.S, a key player introduced an innovation center in China named Cargill ONE to produce animal protein, sweeteners, cocoa, edible oils, and starches, which mainly focused on new flavors and innovative food products in China.
On the onset of COVID-19 in 2020, leading authorities in emerging countries imposed countrywide lockdowns and strict social distancing norms which led to the unprecedented decline in demand and sales of Sorbitol in the first half of 2020. However, there was not much effect of the pandemic on the overall Sorbitol industry as there was a surge in the demand for sorbitol in the pharmaceutical, food & beverages, and personal care industries. As soon as the lockdown restrictions are uplifted, the market of sorbitol is expected to boost by the end of the year.
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Region-wise, the Asia Pacific region holds the major share in the Sorbitol market across the globe owing to the rapidly increasing demand for Sorbitol by the end-use industries including cosmetics, food and beverages, personal care, and others especially in emerging countries such as China and India. Continuously increasing demand for sorbitol for the manufacturing of cosmetics and personal care products is likely to bolster the Sorbitol market across the globe. Rising awareness for diet and low-calorie food further propelling the demand for sorbitol around the world.
- American International Foods, Inc.,
- Gulshan Polyols Ltd.,
- Merck KGaA,
- Kasyap Sweeteners,
- Qinhuangdao Lihua Starch Co., Ltd.,
- Roquette Frères,
- SPI Pharma,
- Ecogreen Oleochemicals GmbH,
- Tereos, Ingredion Incorporated, Ltd.,
- Tate & Lyle,
- Pfizer Inc.
“The growing demand for Sorbitol from the major end-use industries including cosmetics, pharmaceuticals, food and beverages, and others to manufacture a wide range of products is likely to accelerate the Sorbitol market across the globe within the next few years. Rising awareness regarding low-calorie diet food in several countries is propelling the demand for Sorbitol globally. The rising number of diabetic patients around the world is likely to drive the demand for Sorbitol in upcoming years. Growing demand from the pharmaceutical industry will further augment the Sorbitol market in the future.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
ChemAnalyst is a ‘one stop’ digital platform that offers comprehensive market intelligence data and in-depth analysis of the Indian chemical and petrochemical industry. ChemAnalyst’s team of 100+ analysts are engaged in tracking chemical prices daily, production capacity, demand and supply outlook, manufacturing plant locations, foreign trade data and news/deals for more than 400 major chemicals produced in India. ChemAnalyst is promoted by TechSci Research which is an award winning research based management consulting firm providing market research and advisory solutions to the customers worldwide, spanning a range of industries including Chemicals & Material, Automotive, Consumer & Retail, ICT, Energy & Power, Aerospace & Defense, Water and Waste Management, BFSI and more.
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Created on Dec 10th 2021 01:19. Viewed 107 times.