USD 2.19 Billion
Global Sorbitol Market Size, Share, Growth Analysis, By Product(Liquid and Crystal), By Application(Oral Care, Vitamin C), By End User(Personal Care, Chemical) - Industry Forecast 2024-2031
Report ID:
SQMIG35I2112 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
91 |
Figures:
77
Global Sorbitol Market Insights
Global Sorbitol Market size was valued at USD 2.19 Billion in 2022 and is poised to grow from USD 2.29 Billion in 2023 to USD 3.25 Billion by 2031, at a CAGR of 4.47% during the forecast period (2024-2031).
The market is anticipated to expand significantly over the forecast period as a result of the rise in consumption of diabetic and dietetic foods and drinks. Due to its growing demand as a sugar substitute in consumer food products, it is anticipated that demand for the product would rise over the coming years. Due to its slower rate of absorption relative to other sugar alcohols and consequently reduced risk of dental issues such cavities and tooth decay, sorbitol is also being used in oral care products more frequently. The advantages of the same are predicted to promote industry expansion over the forecast period. Furthermore, the trend of shifting production capacities to the Asia-Pacific region due to low labor and production costs has led to low costs for sorbitol, which have led to an increase in demand for non-food applications.
The market's major driver is the growing demand for nutritive sweeteners from the food and beverage industry. The FDA and the U.S. Department of Agriculture (USD approval)'s for the use of the product in medications and bakery foods is expected to further push the industry in the United States. Due to the presence of one of the largest pharmaceutical industries, sorbitol is also used as a humectant in pharmaceutical products, which helps drive the expansion of the product in the country.
The demand for sorbitol, an intermediate product, is strongly influenced by the demand for finished products in the industries that utilize it. In India, China, and Brazil, there is a large supply of starch sources like corn and potatoes, which is expected to be helpful for its production over the forecast period. Also, it is expected that there will be additional raw material providers in China and India as a result of the expansion of the agricultural industry, which is being aided by low labor costs and rising global demand.
The increase in popularity of biofuels and the backing of governmental bodies are expected to increase the number of manufacturers during the coming years. It is anticipated that sorbitol demand will increase over the forecast period as a result of the substance's growing applications and research, particularly in industrialized countries like North America and Europe.
US Sorbitol Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Liquid
Fastest Growth
Liquid
Growth Rate
4.47% CAGR
Global Sorbitol Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Sorbitol Market By Product ($ Bn)
Global Sorbitol Market By Product (%)
To get more reports on the above market click here to Buy The Report
Global Sorbitol Market Segmental Analysis
Global Sorbitol Market is segmented based on Product, Application, End User and region. Based on Product the Sorbitol Market is segmented into Liquid and Crystal. Based on Application the Sorbitol Market is segmented into Oral Care, Vitamin C, Diabetic & Dietetic Food & Beverage, Surfactant and Others. Based on End User the Sorbitol Market is segmented into Personal Care, Chemical, Food, Pharmaceuticals, Others. Based on region the global Sorbitol Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Sorbitol Market Analysis by Product
In terms of revenue, liquid dominated the market in 2021, with more than 77.0% of the market. In the pharmaceutical and food and beverage industries, liquid sorbitol is primarily used as a sugar substitute. The use of the product in these industries is anticipated to be fueled by the rising demand for low-calorie food brought on by the increasing number of health-conscious consumers and patients with obesity around the globe.
The manufacture includes frozen raw fish, crab balls, roasted fish filets, dried squid thread, polydextrose (soluble dietary fiber), chewing gum, and mint tablets all use crystal sorbitol as a food additive. Also, it is implemented in a variety of other frozen aquatic goods and sugar-free snacks. All through the course of the projection period, market growth is expected to be supported by the rising demand for application items, particularly in frozen foods and meat products.
Sorbitol Market Analysis by Application
In 2021, diabetic and diet foods and beverages dominated the market and made up more than 35.0% of global sales. The rising global demand for functional foods and economies of scale have decreased manufacturing costs for the large manufacturers while also creating new opportunities for sorbitol's future growth. A constant increase in the demand for sweeteners like maltitol and xylitol is projected to pose a danger to the food sector because sorbitol can be used in their place.
Sorbitol serves as surfactants as wetting and foaming agents, dispersants, detergents, and emulsifiers. In the food processing sector, the use of biobased surfactants is rising. A range of culinary products, including bread, ice cream, and cakes, benefit from the surfactant's stabilizing properties. The surfactants also contribute to extending shelf life and maintaining the viscosity and texture of food products. As a result, during the course of the projected period, the rise of the food processing industry is anticipated to fuel consumer interest in products made using bio based surfactant.
Global Sorbitol Market By Product, 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Sorbitol Market Regional Insights
The Sorbitol Market in Asia-Pacific is anticipated to grow at the fastest CAGR during 2022 to 2030. This is as a consequence of its quick growth over the expected time range. This is a result of China's high intake of sorbitol, a substance used to produce vitamin C. A sizable customer base for cosmetics based with organic and natural components can be found on the Indonesian sorbitol market. Furthermore, the Asia-Pacific region's sorbitol market in China had the largest market share while the market in India grew at the fastest rate.
Increased awareness among North American consumers of the harmful health effects resulting from the deterioration of packaged foods such frozen desserts, chocolates, and bread rolls is anticipated to encourage the use of sorbitol, which extends the shelf life of these commodities. Both the natural and artificial sweetener markets in the United States are now considered to be saturated, which results in a sluggish rate of growth. Mexico has a significant market for items containing natural and artificial sweeteners. The percentage of fat people in the nation is high. The Mexico government's decision to raise the levy on sweetener beverages by 10% demonstrates how serious it is dedicated to lowering sugar consumption. Government measures to raise public awareness of the negative consequences of obesity had a negative impact on sugar consumption during the review period. These elements are to blame for the market for food sweetener in the country becoming so highly competitive.
Global Sorbitol Market By Region, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Sorbitol Market Dynamics
Sorbitol Market Drivers
Consumers' Expanding demand for Organic Sweeteners to Bolster Market Growth
- The market for sorbitol is primarily driven by the growing knowledge of the harmful effects of processed and artificial sugar on health. A growing number of people regularly use natural or organic sweeteners. The demand for Sorbitol is rising along with the desire for low-calorie foods.
- The product's growing use in chocolates and confectionery goods is anticipated to increase market demand because of its textural, moisture-stabilizing, and non-carcinogenic qualities. Because of its stability and relative chemical inertness, sorbitol is in high demand since it is easy to include into other food products without altering the original recipe. Due to its distinct and advantageous texture-enhancing qualities, sorbitol has a wide range of uses, including the creation of cosmetics.
Sorbitol Market Restraints
High Cost to Hinder Market Growth
- Seasonal factors have an effect on the accessibility of sorbitol. Its quality and price change frequently due to the weather. To discover if sorbitol has any adverse effects, research is being done. These are some of the primary obstacles to the Sorbitol market's growth.
Request Free Customization of this report to help us to meet your business objectives.
Global Sorbitol Market Competitive Landscape
The increased demand for non-GMO products in the food and beverage, pharmaceutical, and cosmetics industries has led manufacturers to focus more on the volume of sorbitol produced from non-GMO crops. Also, companies are concentrating on local sourcing of critical raw materials in order to reduce transportation costs and the overall environmental impact of the production process.
PT Eco green Oleochemicals, Gujarat Ambuja Exports, and Gulshan Polyols are some businesses that import sorbitol from their overseas production plants located in Turkey and India. These companies are working hard to customize their products to fulfill the unique requirements of the industrial and food processing players.
Sorbitol Market Top Player’s Company Profiles
- Archer Daniels Midland Company
- Tereos
- SPI Pharma
- Gulshan Polyols Ltd.
- Merck KGaA
- Kasyap Sweeteners Ltd.
- Shandong Lujian Biological Technology Co. Ltd.
- PT Sorini Agro Asia Corporindo Tbk
- Ecogreen Oleochemicals
- Sukhjit Starch & Chemicals Ltd.
- Danisco A/S (DuPont Nutrition & Health)
- Sigma-Aldrich Co. LLC.
- Sorini Agro Asia Corporindo Tbk
- Zhongshun Science & Technology Development Co., Ltd.
- Luwei Pharmacy Co., Ltd.
- TCI Chemicals (India) Pvt. Ltd.
- Hangzhou Regin Biotech Co., Ltd.
- Others.
Sorbitol Market Recent Developments
- In 2021, The Chicago-based Sojaprotein, a major European provider of non-GMO soy ingredients, was purchased by Archer Daniels Midland Corporate entity, a world leader in nutrition and agricultural origination and processing, today.
- In 2021, Cargill, a US-based food processor, intends to pay approximately USD 1 billion to acquire the bio-industrial division of British specialty chemical manufacturer Croda in order to advance its drive into biobased chemicals in the Netherlands, Europe, and Asia.
Global Sorbitol Key Market Trends
- In emerging economies, a shift in consumer preferences towards convenience is fueling the demand for artificial sweeteners like sorbitol. This preference shift is primarily being driven by urbanization, an increase in the proportion of women in the workforce, and rising household incomes, among other factors. In the creation of chocolate, baked goods, and confectionery, sorbitol is mostly used as a sweetener or moisture stabilizer. As it stabilizes moisture, sorbitol is a better choice for products that dry or harden quickly since it keeps them fresh during storage. Health issues including heart disease and other ailments are a major concern in developing countries. The demand for artificial sweeteners, one of the newest non-caloric food sweeteners that is 600 times sweeter than sugar, is probably driven by this.
Global Sorbitol Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Sorbitol market is anticipated to expand significantly over the forecast period as a result of the rise in consumption of diabetic and dietetic foods and drinks. Due to its growing demand as a sugar substitute in consumer food products, it is anticipated that demand for the product would rise over the coming years. Due to its slower rate of absorption relative to other sugar alcohols and consequently reduced risk of dental issues such cavities and tooth decay, sorbitol is also being used in oral care products more frequently. The advantages of the same are predicted to promote industry expansion over the forecast period. Furthermore, the trend of shifting production capacities to the Asia-Pacific region due to low labor and production costs has led to low costs for sorbitol, which have led to an increase in demand for non-food applications. Health issues including heart disease and other ailments are a major concern in developing countries. The demand for artificial sweeteners, one of the newest non-caloric food sweeteners that is 600 times sweeter than sugar, is probably driven by this.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.19 Billion |
| Market size value in 2031 | USD 3.25 Billion |
| Growth Rate | 4.47% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Sorbitol Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Sorbitol Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Sorbitol Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Sorbitol Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Sorbitol Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Sorbitol Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Sorbitol Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
