Meticulous Research®, a leading global market research company, has released an extensive report titled, ‘Sorbitol Market Size by Form (Powder, Liquid), by Function (Sweetener, Humectant, Bulking Agent, Flavoring Agent), by Application (Food Beverage, Pharmaceuticals, Personal Care) - Global Forecast to 2030’. Download Sample Report Here: https://www.meticulousresearch.com/download-sample-report/cp_id=3019
This report reveals that the global sorbitol market is anticipated to grow at a CAGR of 3.4% from 2023 to 2030, reaching a market size of $2.39 billion by 2030. The market’s growth is driven by several factors, including the rising consumer demand for low-calorie and health-focused food products, increasing health issues linked to sugar consumption, the expanding use of sorbitol in the pharmaceutical industry, and rapid growth in the personal care and cosmetics sector. Moreover, emerging markets offer substantial opportunities for sorbitol manufacturers to expand their reach. Despite these favorable conditions, the market faces challenges, including potential side effects from excessive sorbitol consumption and stringent regulatory requirements that may limit growth.
The global sorbitol market is segmented by form, function, application, and geographic region. The report also provides a detailed analysis of industry competitors and evaluates the market at the country level.
In terms of form, the global sorbitol market is categorized into liquid (syrup) and powder (crystal) segments. The liquid segment is expected to dominate the market in 2023 due to its ease of use, better handling, and transport capabilities, as well as its wide range of applications. This segment is also anticipated to achieve the highest CAGR during the forecast period, owing to its superior functional properties, including excellent flow properties and uniform mixing concentration, which are critical for maintaining consistent weight in pharmaceutical and cosmetic products.
When segmented by function, the global sorbitol market is divided into sweeteners, humectants, bulking agents, flavoring agents, and other functions. The sweetener segment is projected to hold the largest market share in 2023, driven by the increasing preference for low-calorie products, high demand for convenience and processed foods, and a growing inclination toward natural ingredients. This segment is also forecasted to register the highest CAGR during the forecast period.
Based on application, the global sorbitol market is segmented into personal care, food and beverage, pharmaceuticals, and other applications. The personal care segment is anticipated to dominate the market in 2023, driven by the increasing demand for sorbitol in personal care products. This demand is fueled by sorbitol’s multifunctional properties, including its role as a humectant, thickener, and flavoring agent, as well as the growing use of organic cosmetic products and high demand for skincare products. This segment is also expected to register the highest CAGR during the forecast period, driven by rising consumer spending on personal care products, heightened awareness of personal appearance, and growing demand for innovative skincare solutions.
Geographic Review
Regionally, Asia-Pacific is expected to dominate the global sorbitol market in 2023, holding the largest market share. The region’s dominance is due to the high availability of raw materials, a growing base of health-conscious consumers, and an evolving food and beverage sector. Moreover, the Asia-Pacific region is expected to experience the fastest growth during the forecast period, driven by increased investments in the personal care sector and rising purchasing power among consumers.
Key Players
The key players operating in the global sorbitol market are Roquette Frères S.A. (France), Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), Archer Daniels Midland Company (U.S.), SPI Pharma, Inc. (U.S.), Sayaji Industries Limited (India), Gulshan Polyols Limited (India), ECOGREEN OLEOCHEMICALS (SINGAPORE) PTE LTD (Singapore), Merck Group (Germany), The Sukhjit Starch Chemicals Ltd (India), B Food Science Co. Ltd (Japan), and Mitsubishi Corporation (Japan).
Key questions answered in the report-
- Which are the high-growth market segments in terms of form, function, application, and geography?
- What is the historical market of sorbitol across the globe?
- What are the market forecasts and estimates for 2023–2030?
- What are the major drivers, restraints, challenges, opportunities, and trends in the global sorbitol market?
- Who are the major players in the global market, and what market share do they hold?
- Who are the major players in various countries, and what market share do they hold?
- How is the competitive landscape?
- What are the recent developments in the global sorbitol market?
- What are the different strategies adopted by the major players in the market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the global sorbitol market, and how do they compete with the other players?
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