Sorbitol Market Trends, Regional Growth, Application, Demand, Manufactures with Forecast
Market Analysis
The global sorbitol market is likely to touch USD 2,350 million at a 6.65% CAGR between 2019- 2024, as per the recent report by Market Research Future (MRFR). Sorbitol is produced commercially from glucose for use in packaged food and beverage products. It is mostly used as a bulking agent, flavoring agent, and sweetener. Sorbitol is available in both crystal and liquid form. Its different functions include it is used as a humectant, flavoring agent, bulking agent, sweetener, and others. Owing to its alluring features and key benefits, sorbitol has several applications, including chemicals, cosmetic and personal care, pharmaceuticals, food and beverage, and others.
Various factors are adding to the global sorbitol market growth. Such factors, according to the new MRFR report, include the burgeoning need for ready to eat food, increase in diabetes patients across the globe that are opting for sugar substitutes, rising preference of consumers for low-calorie food, awareness about herbal ingredients, and increased health consciousness.
Key Players
Leading players profiled in the global sorbitol market report include Gulshan Polyols Ltd (India), Tereos (Belgium), Sigma-Aldrich Company (U.S.), Qinhuangdao Lihua Starch Company Ltd (China), Daisco (Japan), Merck Group (Germany), Ecogreen Oleochemicals Pte. Ltd (Singapore), Ingredion Inc. (U.S.), Archer Daniel Midland (U.S.), Tereos Starch & Sweeteners (France), Cargill Inc. (U.S.), Freres (France), and others.
Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global sorbitol market report based on end use, type, and function.
By form, the global sorbitol market share is segmented into crystal form and liquid form. Of these, the liquid form will lead the market over the forecast period.
By function, the global sorbitol market size is segmented into humectant, flavouring agent, bulking agent, sweetener, and others.
By end user, the global sorbitol market analysis is segmented into chemicals, cosmetic and personal care, pharmaceuticals, food and beverage, and others. The others segment is again segmented into the plastic industry, packaging, and paper industry. Of these, the personal care segment will dominate the market over the forecast period.
Regional Analysis
Based on the region, the global market report covers the recent trends and growth opportunities across North America, Europe, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the APAC region will lead the market over the forecast period. Factors boosting the sorbitol market growth in the region include growing pharmaceuticals, and F&B sectors in India & China, growing demand for personal care products, low manufacturing costs, and governments of India & China have framed different initiatives to promote domestic production output of personal care and pharmaceutical industries by enabling FDIs. Additional factors adding market growth include growing GDP, increasing purchasing power, especially in developing regions, and increasing government investments in the retail sector.
The global sorbitol market in North America is predicted to have healthy growth over the forecast period. Factors boosting the sorbitol market growth in the region include the increasing use in the pharmaceutical and personal care & cosmetics industry, and the food and beverage industry for its low-calorie content. Besides, the burgeoning demand for organic personal care products in the US is also adding market growth in the region.
The global polyol sorbitol market in Europe is predicted to have favorable growth over the forecast period. Factors boosting the sorbitol market growth in the region include the use of sorbitol as an additive in the organic personal care product promotion, growing demand for organic personal care products, booming personal care market in France, Italy, and Germany, and increasing awareness regarding natural ingredients.
The global sorbitol market trends in Latin America and the MEA is predicted to have steady growth over the forecast period.
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