Sorbitol Market Outlook
The global sorbitol market was valued at USD 3,847 Million in 2019 and is likely reach to USD 5,590.7 Million by 2027, expanding at a CAGR of 5.0% during the forecast period 2020-2027. The market is driven by factors such as growing demand for organic personal care fuels the demand for sorbitol and increasing awareness about dietary supplements and their benefits fuel the demand of sorbitol.
Conversely, adherence to international quality standards and regulations and ambiguity related to the side effects of sorbitol are likely to restrain the market. Growing demand from the food & beverage industry in emerging markets and fluctuations in prices and the supply of sugar to create opportunities are creating opportunities in the market.
Sorbitol Market Dynamics
Increasing consumer preference for products, which have natural ingredients and rising consumer preference for organic personal care & cosmetic products, as they are safe are expected to drive the demand for sorbitol in personal care and cosmetic products. Sorbitol is an additive used in the production procedure of organic and personal care products.
It is a natural humectant, and is widely used in the skin care, oral care, hair care products, and color cosmetics owing to its properties such as moisturizer, tooth decay prevention, and extremely high solubility. Additionally, it is used in dry oral care products. These properties are projected to fuel the demand for products with sorbitol.
Many children and adults in developed countries take one or more dietary supplements or vitamins daily. In addition to the consumption of vitamins, they consume dietary supplements contain herbs, minerals, and other botanicals, enzymes, amino acids, and other ingredients.
These supplements are available in the market in various forms, including capsules, tablets, powders, gummies, energy bars, and drinks.
Increasing awareness about dietary supplements and their nutritional benefits is anticipated to fuel the demand of sorbitol in dietary food and supplements, as they contain sorbitol. Sorbitol is a low-calorie sweetener and can be used as a thickening agent in dietary supplements. These factors are expected to boost the market during forecast period.
Sorbitol is permitted for food and pharmaceutical use in many countries; however, some countries have their own quality standards and regulations for the purity of sorbitol. These regulations are similar and have the same objective, to provide consumers and provide them with high-quality, safe ingredients.
In Europe, sorbitol is considered a food additive and its use in foods is measured by the Sweeteners in Food Regulations. The restrictions are expected to restraint the market growth.
Sorbitol is commercially made from glucose, for the use in packaged food & beverages products. It is added in food products to increase their shelf-life, prevent the precipitation of sugar efficiently, and prevent them from aging and drying.
Additionally, sorbitol is used as a sweetener, thickening agent, and an additive in the food industry. Growing demand of sorbitol from the food & beverages industries to produce sugar-free and dietary products is creating opportunities in the sorbitol market.
Sorbitol Market egmental Outlook
By Type Segment
In terms of types, the sorbitol market is segmented into liquid/syrup sorbitol and crystal/powder sorbitol. The liquid/syrup sorbitol segment dominated the market with a share of 80.9% in 2020. This growth may be attributed to increasing use of liquid/syrup sorbitol as a sugar substitute in the food & beverage and pharmaceutical industries.
The crystal/powder sorbitol segment is anticipated to expand at a CAGR of 4.6% during the forecast period. Sorbitol powder has properties such as a cooling effect, low calorific value, and prevents the oral microorganisms from fermenting. Crystal/Powder sorbitol is used as a food preservative in polydextrose, mint tablets, chewing gum, and another sugar-free food.
By Functions Segment
On the basis functions, the market is segmented into sweeteners, flavoring agents, bulking agents, humectants, and others. The sweeteners segment is expected to account for market share of 46.4% in 2019. Sorbitol is used as sweetener in It is used as a low-calorie sweetener in mouthwashes, toothpastes, lozenges, medicinal syrups, vitamin/mineral supplements, and drugs.
Sorbitol is added as a low-calorie sweetener in several commercial foods. The humectants segment is anticipated to expand at a CAGR of 5.0% during the forecast period Sorbitol is used as a humectant in various products, owing to its moisture-stabilizing properties are used for making baked goods, confectionery, and chocolate to prevent foods from hardening or drying.
By Applications Segment
Based on applications, the market is categorized as cosmetics & personal care, food, beverage, pharmaceutical, chemical, and others. The cosmetics & personal care segment is further bifurcated into oral care, skin care, hair care, cosmetics, shaving creams, and soaps & detergents.
The food segment is further segmented as confectionery products, bakery products, frozen desserts, and diabetic & dietetic food.
The beverage segment is further divided into diet soda and fruit juices & syrups. The pharmaceutical segment is further classified as medicines, creams & emulsions, and medicated confectionery.
Sorbitol Market Region Wise Outlook
On the basis of regions, the market is categorized as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America held a significant share of the market in 2019 owing to the increasing demand for organic cosmetic & personal care products in the region.
The market in Asia Pacific is expected to grow at a rapid pace owing to low manufacturing costs, increasing demand for cosmetic & personal care products, and growing food and pharmaceutical industries in developing countries. The market in Europe is also expected to grow significantly during the forecast period.
Key Benefits for Industry Participants & Stakeholders
- In-Depth Analysis of the Sorbitol Market.
- Historical, Current and Projected Market Size in Terms of Value and Volume
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on From Sorbitol Market Performance
- Liquid/Syrup Sorbitol
- Crystal/Powder Sorbitol
- Flavoring Agent
- Bulking Agent
- Cosmetics & Personal Care
- Oral Care
- Skin Care
- Hair Care
- Shaving Creams
- Soaps & Detergents
- Confectionery Products
- Bakery Products
- Frozen Desserts
- Diabetic & Dietetic Food
- Diet Soda
- Fruit Juices & Syrups
- Creams & Emulsions
- Medicated Confectionery
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
- Roquette Frères.
- Cargill, Incorporated.
- Ingredion Incorporated
- Gulshan Polyols Ltd.
- Kashyap Sweeteners Ltd.
- Gujarat Ambuja Exports Limited
- The Sukhjit Starch & Chemicals Ltd.
- SPI Pharma
- Merck KGaA
- PT. Ecogreen Oleochemicals
- QinHuangDao LiHua Starch Co., Ltd
- Jeecon Foods Private Limited
- Gayatri Bio-organics
- DuPont de Nemours, Inc.
- Key players in the sorbitol market are Roquette Frères, Cargill, Incorporated, Ingredion Incorporated, Gulshan Polyols Ltd., Kashyap Sweeteners Ltd., Gujarat Ambuja Exports Limited, ADM, The Sukhjit Starch & Chemicals Ltd., SPI Pharma, Merck KGaA, PT. Ecogreen Oleochemicals, Tereos, QinHuangDao LiHua Starch Co., Ltd, Jeecon Foods Private Limited, Gayatri Bio-organics, and DuPont de Nemours, Inc. These companies are considered as key market players of sorbitol market, based on their revenue, research & development (R&D) activities in the areas of improving offerings, and regional presence.
- The players are adopting key strategies such as product development, geographical expansion, mergers and acquisition and many other strategies to cater the increasing demand for sorbitol.