June 21, 2024
Sorbitol Market

Sorbitol Market Poised for Significant Growth Owing to Wide Application in Food and Beverage Industry

Sorbitol, commonly known as glucitol, is a sugar alcohol that is white, odorless and crystalline powder. It is derived from glucose and has around 60% of the sweetness of sucrose. Sorbitol is widely used as a sweetener and humectant in various food products like chewing gum, candies, baked goods, jams, etc. It has benefits like low calorie content, non-cariogenic properties and ability to maintain moisture levels in food products.

Global sorbitol market size is estimated to be valued at US$ 1.89 Billion in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031.

The market is anticipated to witness significant growth owing to increasing demand from food and beverage industry. Sorbitol serves as a perfect substitute for sugar in low-calorie food items which is fueling its usage. In addition, rising health consciousness among consumers and growing preference for sugar-free products have boosted sorbitol consumption globally.

Key Takeaways

Key players operating in the Sorbitol Market Growth ¬†are American International Foods, Inc., ADM, Cargill Incorporated, DuPont, Gulshan Polyols Ltd., Merck KGaA, Ecogreen Oleochemicals GmbH, Qinhuangdao Lihua Starch Co., Ltd., Roquette Frères, SPI Pharma, Tereos, Ingredion Incorporated, Kasyap Sweeteners, Ltd., Vizag Chemicals, CDH Fine Chemical, Gayatri bioorganics, and Silverline Chemica.

The growing demand for low-calorie and sugar-free food has opened up numerous opportunities for sorbitol manufacturers. Moreover, increasing consumer spending on health and wellness products is anticipated to drive the use of sorbitol.

The global sorbitol market is expected to witness robust expansion in Asia Pacific region over the forecast period. This is attributed to rising demand from countries like China, India which are emerging as key consumers markets globally.

Market Drivers

The wide application of sorbitol in food and beverage industry as a sugar substitute and humectant remains the major driver for the market. Functions such as moisture retention, texture enhancement and low calorie content are fueling its preference over table sugar. Increasing cases of diabetes and obesity have further spurred the demand for low-calorie sweeteners like sorbitol. Growing health awareness among consumers is compelling food formulators to enhance product portfolio with sugar-free offerings incorporating sorbitol. Expanding food processing industry globally has created conducive environment for market growth over the coming years.

PEST Analysis

Political: Changes in trade policies related to imports and exports of sorbitol could impact the market. Government regulations on the use of sorbitol in food and beverages also influence the market.

Economic: Economic growth influences demand for products containing sorbitol from key end-use industries like foods & beverages, pharmaceuticals, etc. Fluctuations in currency exchange rates impact global trade.

Social: Changing consumer preferences and demand for natural and low-calorie sweeteners are driving growth. Increasing health awareness among consumers promotes the use of sorbitol as a sugar-free alternative.

Technological: New production technologies help improve efficiencies and reduce costs. Advances in purification methods allow for wider applications of sorbitol in various industries.

The major geographical regions where the sorbitol market is concentrated in terms of value are North America and Europe. North America accounts for the largest share due to a well-established food & beverage industry and growing pharmaceutical sector. Europe is another major regional market supported by rising health consciousness among consumers.

The Asia Pacific region is projected to be the fastest growing market for sorbitol during the forecast period. This is attributed to rapid economic development, growth of end-use industries, and increasing disposable incomes in emerging economies of China and India. Rising diabetes prevalence is further augmenting market growth in the Asia Pacific. Countries like China, Japan and South Korea are major contributors to the expanding APAC sorbitol market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it