Market Research Report
Global Sorbitol Market - 2020-2027
|Published by||DataM Intelligence||Product code||1004505|
|Published||Content info||180 Pages
Delivery time: 2 business days
|Global Sorbitol Market - 2020-2027|
|Published: May 10, 2021||Content info: 180 Pages||
Sorbitol is mainly derived from seaweed, corn, fruits, and berries, generally manufactured by the catalytic hydrogenation of sucrose. It is primarily used as humectant, sweetener, diuretic dehydrating agent and flavoring agent in food & beverage, cosmetics & personal care, and pharmaceuticals. Sorbitol is beneficial ingredient as it has a sugar substitute of low-calorie, and used in many products such as candy, gum, ice cream, baked goods, cosmetics, toothpaste, personal care, and pharmaceuticals.
The Sorbitol Market size was worth US$ XX billion in 2019 and further expected to reach US$ XX billion by 2027, with a CAGR of X% during the forecast period (2020-2027).
The global Sorbitol Market is expected grow during the forecast period due to the rising consumer preference for low-calorie food, increasing health problems due to consumption of sugar-based products, growing organic personal care market. The growing awareness among consumers regarding oral healthcare, which result in significance adoption of herbal ingredients, demand for herbal-based oral care products, augmenting the growth of the market. Sorbitol also has its application in aftershave lotions, baby shampoos and hair grooming aids, which is expected to fuel the demand of sorbitol in cosmetics & personal care products.
Rising consumer preference for low-calorie food
The emerged countries individuals are habituated to sedentary lifestyles and are well aware of the problems associated with it. with the harmful effects of such problems the consumers are keen towards the demand for low-caloric food and sweeteners, expected to drive growth of the market. As people need to reduce their calorie intake to maintain their healthy diets, they prefer low-calorie foods that further helps them to take a step ahead towards a healthy lifestyle. It contains fewer calories than regular sugar which provides energy to most health-conscious consumers mostly to prefer sorbitol as a sugar substitute. Sorbitol consumption is an easy way to reduce the calorie intake and stay healthy; fueling the demand for sorbitol in various applications, globally. Therefore, use of sorbitol instead of sugar in the sweetner products as well as rising consumer preference for low-calorie food is driving the demand for the sorbitol in the global market.
Rising Demand From Emerging Countries
The shift in consumer preference for convenience, driven largely by urbanization, a growing number of women in the workforce, and rising household incomes, among others, are driving the demand for artificial sweeteners, such as sorbitol, in emerging economies. Sorbitol is mainly used in the manufacture of Food & Beverage, baked goods, and chocolate, as a sweetener or moisture-stabilizing agent. The moisture-balancing action of sorbitol makes it a preferable choice for products that dry or harden faster, hence, it helps in maintaining freshness during storage in warehouse departments. Basically, sorbitol is used to change the taste of the product into sweetness and to attract the customer to purchase the product. Furthermore, rising collaborations among various companies is alos witnessing as a growth factor for sorbitol market. For instance, In April 2021, Evolva has signed a major collaboration with Cargill Inc. in order to commercialise its EverSweet stevia sweetener. Hence, rising demand for artificial sweetners in the product through the use of sorbitol as a basic and major content is driving the demand for the sorbitol market in emerging countries.
COVID-19 Impact Analysis
COVID-19affected the global economy in many forms, such as supply chain distraction, directly affecting demand and productionand financial impact. COVID-19 pandemic have moderately affected the sorbitol market due to the shutting down of factories, supply chain disruptions and stoppage of transportation facilities. Furthermore, market entry, sales & marketing department, product innovation have also affected due to lockdown, which have directly resulted into downfall in the sorbitol market as well as future business growth. Hence, It has moderately affected the market due to shutting down of manufacturing industries of food products during lockdown as well as transportation is also one of the major segment which got affected due to the covid pandemic.
Based on the Product Type, the Sorbitol Market has been classified as- Liquid/Syrup Sorbitol, Crystal/Powder Sorbitol.
Liquid/Syrup Sorbitol type is accounted for highest share in the market
On analyzing the sorbitol market on the basis of its type, its is analyzed that liquid sorbitol is growing at a highest rate as compare to solid sorbitol. Liquid sorbitol market witnessed the highest consumption and accounted for more % of the total demand. Furthermore, the growing demand for sugar content substitutes for growing awareness about low-calorie food intake is anticipated to witness high industrial growth for liquid sorbitol type in the near future of sorbitol market. Factors such as low manufacturing cost and simplified production process, technological advancements, ease of use make it more preferable over solid sorbitol type in the market.
Based on the Application, the Sorbitol Market has been classified as- Pharmaceutical,Food & Beverage, Cosmetics and Personal Care, and Others.
Food & Beverage segment is accounted for the highest share in the market
In current scenario, it is analyzed that food and beverage is that is the primary segment which helps to fuel the expansion of sorbitol in global level market. In food and beverage, sorbitol has higher demand thanks to its application as a flavoring agent and sweetener. It is used in the production of Food & Beverage, bakery products, diet food, ice creams, jellies, candies and in beverages such as diet drinks.Mainly, chewing gum is the highest growing segment in the confectionery application where sorbitol is used instead of sugar as a sweetner content. In addition, growing demand of diabetic patients as well as sugar-free products in developing countries are also resulting in rise in the demand of sorbitol as a substitute to sugar content.
Based on geography, the study analyzes the Sorbitol Market in the global market, including Europe, Asia-Pacific, North America, South America, and the Middle East & Africa.
North-America is expected to hold the largest market share
North America holds the largest share in the sorbitol market. High demand for organic personal care products is expected to drive the industrial growth. Asia Pacific is anticipated to be the most comprehensive and fastest-growing regional sector during the forecast period. Factors such as lower production costs, rising demand for personal care products, and growing food and beverages and pharmaceutical sectors in China and India are anticipated to push the regional market development. Globally, sorbitol market is currently dominated by Tate and Lyle Plc., Cargilletc., altogether registered for accounting of approximately 47% of the market share globally. Strong brand loyalty for brands like Tate and Lyle and Cargill in the emerging economies is the key primary reason for these players enjoying a strong foothold in these markets.
Sorbitol Market is highly competitive due to major key players such as Roquette Freres, Cargill Inc. (US), Ingredion Incorporated (US), Tereos Starch & Sweeteners (France), and Archer Daniels Midland (US). Entering into related industries and targeting new markets will enable the sorbitol manufacturers to beat the consequences of volatile economy, resulting in diversified business portfolio and increase in revenue. Other major producers of sorbitol are SPI Pharma Inc. (US), EcogreenOleochemicals Pte. Ltd. (Singapore), Merck Group. (Germany), Sukhjit Starch & Chemicals Ltd. (India), and Gulshan Polyols Ltd. (India).
Overview: Roquette Freres SA manufactures various different agricultural products. The Company offer vegetables such as potatoes, corn, wheat, peas into starch, cereal sugars, fibers, polyols, proteins, bioethanol, and derivatives. It serves customers worldwide. It has more than 8500 employees across all its locations in business operations such as Brazil, Canada, China, Finland, France, India, and Germany and so on. It also has 25+ industry sites at various different locations.
Product Portfolio:ROQUETTE FRERES offers various products under its various categories such pharma & nutraceuticals, cosmetics, food & nutrition, animal nutrition and Others.
The global sorbitol Market report would provide access to an approx. 48 market data table, 43 figures and 270pages.
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