PUBLISHER: Orion Market Research | PRODUCT CODE: 1159196
PUBLISHER: Orion Market Research | PRODUCT CODE: 1159196
Global Sorbitol Market Size, Share & Trends Analysis Report by Product (Liquid, and Crystal) By End-use (Personal Care, Chemical, Food, and Pharmaceuticals) Forecast Period 2022-2028
The global market for Sorbitol is projected to have a considerable CAGR of around 5.2% during the forecast period. Sorbitol also called D-sorbitol, 50-70-4, E420, and D-glucitol is a type of carbohydrate. It falls into a category of sugar alcohols called polyols. This water-soluble compound is found naturally in some fruits, including plums, apples, berries, peaches, dates, and others. Sorbitol is widely used sugar alcohol in foods and beverages in place of traditional sugar to reduce their calorie content. The market demand is likely to rise as consumer perceptions of product benefits derived from natural ingredients increase. The shift in preference towards organic personal care & cosmetic products owing to health & safety factors is likely to boost the market growth. Further, increasing demand for low-calorie artificial sweeteners particularly for diabetic patients is likely to surge sorbitol market growth.
The global sorbitol market is segmented based on the product and end-use. Based on product, the market is segmented into liquid, and crystal. Further, based on end-use, the market is classified into personal care, chemical, food, and pharmaceuticals.
Geographically market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific is the largest market for sorbitol as China is the world's largest producer of sorbitol and derivatives, as well as the world's top exporter. Moreover, the personal care and cosmetic production of the region is also one of the major business function areas of sorbitol. The rising use of personal care and cosmetics in the region is anticipated to expand the sorbitol market over the forecast period.
The key players of the market include Cargill Inc, Merck KGaA, DuPont Inc, Archer Daniels Midland Company, American International Foods Inc., SPI Pharma Inc among others. These market players adopt various strategies such as product launches, partnerships, collaborations, mergers, and acquisitions to sustain a strong position in the market. In December 2016, Cargill, Incorporated U.S, a key player introduced an innovation center in China named Cargill ONE to create innovative food products and new flavors for its customers in China. Cargill ONE is the company's first innovation center in Asia, bringing together a diverse range of product lines. Taste and flavors, food ingredients, and menus that appeal to changing customer demand will be the three key areas of innovation.
Research Methodology
The market study of the global sorbitol market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: