Market Analysis
The global sorbitol market is likely to touch USD 2,869.4 million at a 5.12 % CAGR between 2022- 2030, 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 based on end use, type, and function.
By form, the global sorbitol market is segmented into crystallised and liquid forms. Of these, the liquid form will lead the market over the forecast period.
By function, the global sorbitol market is segmented into humectants, flavouring agents, bulking agents, sweeteners, and others.
By end user, the global sorbitol market is segmented into chemicals, cosmetics and personal care, pharmaceuticals, food and beverage, and others. The others segment is again segmented into the plastic industry, packaging industry, 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 sorbitol market research 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 pharmaceutical and FB sectors in India and China, growing demand for personal care products, and low manufacturing costs, The governments of India and China have framed different initiatives to promote domestic production output of the personal care and pharmaceutical industries by enabling FDIs. Additional factors contributing to market growth include growing GDP, increasing purchasing power, especially in developing regions, and increasing government investments in the retail sector.
The global sorbitol market share in North America is predicted to have healthy growth over the forecast period. Factors boosting the sorbitol market's growth in the region include its increasing use in the pharmaceutical and personal care cosmetics industries and the food and beverage industries for its low-calorie content. Besides, the burgeoning demand for organic personal care products in the US is also adding to market growth in the region.
The global sorbitol market in Europe is predicted to have favourable growth over the forecast period. Factors boosting the sorbitol market growth in the region include the use of sorbitol as an additive in the promotion of organic personal care products, growing demand for organic personal care products, a booming personal care market in France, Italy, and Germany, and increasing awareness regarding natural ingredients.
The global sorbitol market in Latin America and the MEA is predicted to have steady growth over the forecast period.
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