The global Sorbitol market size is expected to be worth around US$ 2.50 billion by 2030, according to a new report by Vision Research Reports.
The global Sorbitol market size was valued at US$ 1.50 billion in 2020 and is anticipated to grow at a CAGR of 6.10% during forecast period 2021 to 2030.
The increasing awareness regarding the health and digestive benefits associated with the rising geriatric population, increasing demand for non-medical dietary supplements, and technological advancements in the processing of these products are driving the demand for sorbitol-based products, consequently aiding the growth of the market over the forecast period.
The market growth is expected to be fueled by the increasing demand for the product for use in the manufacturing of various food and beverages, such as fruit juice, candies, and chocolates. Moreover, vitamin C is synthesized using sorbitol as the product is one of the building blocks in the manufacturing process. Vitamin C is also used for the production of which is expected to grow at a high rate over the forecast period, resulting in the high growth of the market. The rise in the number of gym-goers, coupled with the increasing awareness regarding health and fitness, has positively affected the demand for nutritional drinks, thus has increased the demand for specialty ingredients across the world.
The liquid product segment dominated the market in 2020. It is used in the production of candy to increase its chewy texture and softness. Liquid sorbitol is also finding new applications in the tobacco market as it is added to chewing tobacco to enhance its flavor. The growing applications of liquid sorbitol are expected to be helpful in the growth of the segment over the forecast period. The crystal product segment is anticipated to witness significant growth from 2021 to 2028. Crystal sorbitol is used in numerous cosmetic products, such as moisturizers and face creams, in the form of humectant due to its resistance to bacteriological degradation and ability to retain moisture. The growing demand for cosmetic products is expected to impact the market growth positively over the forecast period.
The food end-use segment dominated the market in 2020. Sorbitol is majorly used as a sweetener and a low-calorie sugar substitute in the food and beverage industry. In addition to providing sweetness, sorbitol also acts as an excellent texturizing and anti-crystallization agent in the production of ice cream and bakery products. The growth of the food end-use segment is also attributed to rising product utilization in the production of diabetic food products. Efficiency in operation and product innovation are expected to drive the market. Fast-paced lifestyle and increased preference for convenience food are presumed to be some of the major drivers of the food processing sector, resulting in the growth in demand for sorbitol.
In terms of revenue, liquid led the market and accounted for more than 77.0% share in 2020. Liquid sorbitol is majorly used as a substitute for sugar in the pharmaceutical and food and beverage industries. The growing demand for low-calorie food caused by the growing number of health-conscious consumers as well as patients with obesity across the globe is expected to fuel the use of the product in these industries.
Crystal sorbitol is widely utilized as a food additive for producing frozen raw fish, shrimp ball, roasted fish fillet, dried squid thread, polydextrose (soluble dietary fiber), chewing gum, and mint tablets. It is also used in several other frozen aquatic products as well as sugar-free foodstuffs. The growing demand for application products, primarily in meat products and frozen foods, is expected to promote market growth over the forecast period.
Crystal-based product is also used as a humectant in various cosmetic products, such as moisturizers and face cream, owing to its capacity to resist bacteriological degradation and retain moisture. Other applications of crystal sorbitol include its use as a plasticizer in the production of capsule outer shell and as a filler and excipient in the production of pharmaceutical tablets. Thus, the growing demand for cosmetic products is anticipated to prove beneficial for sorbitol demand over the coming years.
Diabetic and dietetic food and beverage led the market and accounted for more than 35.0% share of the global revenue in 2020. The increasing global consumption of functional foods as well as economies of scale has resulted in low manufacturing costs for the major manufacturers while creating new opportunities for the growth of sorbitol in the future. However, a gradual increase in the demand for sweeteners, such as maltitol and xylitol, is expected to pose a threat to the market as they can be substituted with sorbitol.
Sorbitol finds application in surfactants as detergents, dispersants, emulsifiers, and wetting and foaming agents. Biobased surfactants are witnessing increased utilization in the food processing industry. The surfactant acts as a stabilizing agent for a variety of food products, such as bread, ice cream, and cakes. Additionally, the surfactants help in maintaining the viscosity and the texture of the food products and extending shelf life. As a result, the growth of the food processing industry is expected to drive the demand for biobased surfactant products over the forecast period.
The vitamin C application segment is expected to expand at the highest growth rate over the forecast period. Vitamin C is mainly synthesized using two manufacturing processes, namely the Reichstein Grussner process and the two-step fermentation process. Both the production processes use sorbitol as a primary starting material for the production of ascorbic acid (Vitamin C). The two-step fermentation process is primarily used by Chinese manufacturers owing to its lower cost.
The food segment led the market and accounted for more than 35.0% share of the global revenue in 2020. Sorbitol is generally added to food items to induce sweetness and replace the need for refined sugar. In addition to providing sweetness, sorbitol also acts as an excellent texturizing and anti-crystallization agent in the production of ice cream and bakery products. It is widely used to increase shelf life and maintain the freshness and color of various confectionery and bakery products. Furthermore, it finds application in the production of canned fruit. The food segment is expected to dominate the market over the forecast period, tracing the growth of the food and beverages industry, as applications for the product are expanding in the industry.
Rising awareness regarding dietary supplements owing to their nutritional benefits is expected to have a positive impact on the market growth in the near future. In addition, rising concern over low calorie and sugar-free products on account of the increasing prevalence of diabetes in the world is expected to be a favorable factor for the growth of the market in the near future.
Sorbitol has emerged as one of the key building blocks for the production of bio-based ethylene glycol and propylene glycol. For instance, Archer Daniels Midlands Company in partnership with Pacific Northwest National Laboratory (PNNL) began the commercial production of biobased propylene glycol (PG) from sorbitol and glycerol at its Illinois, U.S.-based manufacturing facility.
This biobased PG has the same chemical make-up as the petroleum-based PG with a considerably greener manufacturing process. The extensive use of sorbitol in chemical applications is expected to propel the growth of the chemical application segment with a rate of 6.6% over the forecast period.
Asia Pacific dominated the market and accounted for more than 55.0% share of the global revenue in 2020. Increasing health-conscious consumers, coupled with a rise in the number of consumer markets growing at a high pace, is driving the market for sorbitol in the region as it is used widely in various applications, including , baked goods, and confectionery.
The changing lifestyles of the general public and urbanization in developing countries have further fueled the demand for the product as the end-users are increasingly adopting the product to fulfill the demand of the consumers. Sorbitol is extensively being used for non-food applications in Asia Pacific, for instance, Japan has been a major importer of the product for the oral care industry.
American International Foods, Inc.
Gulshan Polyols Ltd.
Ecogreen Oleochemicals GmbH
Qinhuangdao Lihua Starch Co., Ltd.
Kasyap Sweeteners, Ltd.
Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
Diabetic & Dietetic Food & Beverage
End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
Central & South America (CSA)
Middle East & Africa (MEA)
The Sorbitol market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Sorbitol market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Sorbitol market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Sorbitol market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Sorbitol market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Sorbitol capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Sorbitol by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Sorbitol market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Sorbitol market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Sorbitol market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Sorbitol industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Sorbitol market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Sorbitol market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Sorbitol market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Sorbitol market. These factors have benefited the growth of the global market for Sorbitol. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Sorbitol. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Sorbitol are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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