Sorbitol Market Share Analysis | industry Report
Sorbitol market is forecast to expand at a healthy CAGR over the forecast period
Sorbitol market is forecast to expand at a healthy CAGR over the forecast period. Sorbitol is a carbohydrate called polyol or sugar alcohol naturally found in fruits such as apricots, berries, dates, and peaches.
Accelerating incidences of diabetes is one of the major factors driving the sorbitol market size. With a surge in health-conscious consumers, the demand for low-calorie sugar substitutes is projected to rise. According to the World Health Organization, there was a drastic increase in the number of people suffering from diabetes, i.e., from 108 million in 1980 to 422 million in 2014. Growing demand for sorbitol across the food and beverage industry for a healthy sweetener is likely to fuel the market growth. Also, as per the sorbitol market research, sorbitol's unique, moisture-stabilizing, and texture-enhancing characteristics have raised its use in several applications, such as the manufacturing of cosmetics, contributing to the market growth.
Moreover, sorbitol is used to produce biofuel, a naturally derived fuel. Thus, the growing prominence of biofuels and continuous government supports will raise the number of producers in the upcoming years. The rising research and development of biofuels, primarily in the developed nations such as Europe and North America, will raise the demand for sorbitol. However, excessive consumption of sorbitol can result in gastrointestinal problems, which can hamper sales.
Product Type – Segment Analysis
Liquid Sorbitol is projected to witness a higher CAGR during the forecast period, owing to the innovation in the production process and lower production cost. Rising usage of sorbitol in the pharmaceutical and food & beverage industry as an alternative to sugar is one of the major factors propelling the market growth. Rising obese population has persuaded individuals to choose low-calorie food, thereby driving the global sorbitol market.
Application – Segment Analysis
Food & Beverages segment is forecast to hold a larger share over the coming years, owing to the growing health concerns among people. Sorbitol sweetens the food items, and thus, it is used in the place of refined sugar. Also, it raises shelf life and maintains the color and freshness of the products such as ice creams, bakery, and canned items.
Regional – Segment Analysis:
North American region is anticipated to lead the market over the coming years. Rising concerns pertaining to harmful effects caused due to the deterioration of packed foods such as chocolates and frozen desserts have propelled the demand for sorbitol as it raises the shelf life of products.
Sorbitol Market by Product Type
• Liquid Sorbitol
• Powder Sorbitol
Sorbitol Market by Function
• Bulking Agent
• Flavoring Agent
Sorbitol Market by Application
• Cosmetics & Personal Care
• Food & Beverages
Sorbitol Market by Region
• Asia Pacific
o Rest of APAC
• North America
o United States of America
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
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