A new research report from Meticulous Research®, 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’, provides a comprehensive analysis of the global sorbitol market.
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The report indicates that the global sorbitol market is set to grow at a CAGR of 3.4% from 2023 to 2030, reaching a market value of $2.39 billion by 2030. This growth is primarily driven by increasing consumer demand for low-calorie and health-focused food products, the rising prevalence of health issues related to sugar consumption, the expanding use of sorbitol in the pharmaceutical industry, and the rapidly growing personal care and cosmetics market. Additionally, emerging markets present significant growth opportunities for sorbitol manufacturers. However, the market faces challenges, including potential side effects from overconsumption of sorbitol and stringent regulatory requirements, which may slow down market expansion.
The report segments the global sorbitol market by form, function, application, and geographic region, and also includes an analysis of industry competitors at the country level.
In terms of form, the global sorbitol market is divided into syrup/liquid 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, as well as its wide range of applications. This segment is also forecasted to register the highest CAGR during the forecast period, owing to its excellent functional properties, such as superior flow properties and uniform mixing concentration, which contribute to the consistent weight maintenance of pharmaceutical and cosmetic products.
Regarding function, the global sorbitol market is segmented 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 growing preference for low-calorie products, high demand for convenience and processed foods, and an increasing shift toward natural products. This segment is also expected to achieve the highest CAGR during the forecast period.
Based on application, the global sorbitol market is divided into personal care, food and beverage, pharmaceuticals, and other applications. The personal care segment is expected to lead the market in 2023, driven by the increasing demand for sorbitol in the personal care industry. This demand is fueled by sorbitol’s multifunctional properties, including its use as a humectant, thickener, and flavoring agent, as well as the growing use of organic cosmetic products and high demand for skincare solutions. This segment is also anticipated to register the highest CAGR during the forecast period, driven by rising consumer spending on personal care products, heightened awareness of personal appearance, and the growing demand for innovative skincare products.
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 consumer purchasing power.
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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