Global Sorbitol Market Report 2023: Increasing Demand for Non-medical Dietary Supplements Drives Growth – Yahoo Finance

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Global Sorbitol Market

Global Sorbitol Market

Dublin, May 17, 2023 (GLOBE NEWSWIRE) -- The "Sorbitol Market Size, Share & Trends Analysis Report By Product (Liquid, Crystal), By Application (Oral Care, Vitamin C, Surfactant), By End-use (Personal Care), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global sorbitol market size is expected to reach USD 2.80 billion by 2030 It is expected to expand at a CAGR of 6.7% from 2023 to 2030.

Companies Mentioned

American International Foods, Inc.

ADM

Cargill Incorporated

DuPont

Gulshan Polyols Ltd.

Merck KGaA

Ecogreen Oleochemicals GmbH

Qinhuangdao Lihua Starch Co., Ltd.

Roquette Freres

SPI Pharma

Tereos

Ingredion Incorporated

Kasyap Sweeteners, Ltd.

The increasing awareness regarding the health and digestive benefits associated with digestive health supplements. 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 dietary supplements, 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 and thus has increased the demand for specialty ingredients across the world.

The liquid product segment dominated the market in 2022. 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.

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The crystal product segment is anticipated to witness significant growth from 2023 to 2030. 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 2022. 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.

Factors such as advancements in nutrition and technology, growing consumer inclination toward improved health and longevity, and increasing frequency of exercising in modern lifestyles are expected to contribute to the augmented consumption of fiber-rich, organic, and gluten-free foods. This is expected to boost the consumption of sorbitol in the production of fiber-rich and gluten-free food products, thereby driving the market.

The companies are developing a broad range of products to cater to the requirements of different application industries and boost sales growth, thereby leading to the development of a diversified product portfolio. This, in turn, is expected to aid the companies to target different market segments and also improve brand equity.

Major companies in the market own several trademarks and patents, which emerge as valuable assets for the company. These patents and trademarks offer an important competitive edge to companies.

These patents also witness the streams of new inventions generated by the companies, which are expected to enhance customer satisfaction and contribute to strengthening customer relationships. These patents also improve brand equity as well as the financial performance of the companies operating in the market. Over the forecast period, sorbitol is therefore expected to see an increased number of applications in the food and beverage industry.

Sorbitol Market Report Highlights

By product, liquid accounted for the largest share in terms of revenue as well as volume in 2022. The product is preferred over other substitute products as it is non-carcinogenic and has a pleasant and sweet taste

The crystal product segment is expected to expand at the highest growth rate over the forecast period. Crystal sorbitol is used as a plasticizer in the manufacturing of capsule outer shell and as an excipient and filler in the production of pharmaceutical capsules

The vitamin C application segment is expected to register the highest growth rate over the forecast period owing to its increasing use in functional foods and dietary supplements

The food end-use segment held the largest market share in terms of revenue and volume in 2022. The food processing industry across the world is expected to witness a boost in sales owing to the increased consumer preferences in terms of variety of products as well as quality

Companies operating in the market are continuously involved in the enhancement of the quality of products and the companies keep introducing new products with advanced features that are competitive in both performance and prices

Key Attributes:

Report Attribute

Details

No. of Pages

145

Forecast Period

2022 - 2030

Estimated Market Value (USD) in 2022

$1.66 Billion

Forecasted Market Value (USD) by 2030

$2.8 Billion

Compound Annual Growth Rate

6.7%

Regions Covered

Global

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Sorbitol Market: Market Variables, Trends & Scope3.1 Market Lineage Outlook3.2 Industry Value Chain Analysis3.2.1 Manufacturing/Technology Trends3.2.2 Sales Channel Analysis3.2.3 List of Potential End-Users3.3 Price Trend Analysis, 2018 - 20303.3.1 Factors Affecting Prices3.4 Regulatory Framework, By Regions3.5 Market Dynamics3.5.1 Market driver analysis3.5.2 Market restraint analysis3.5.3 Market Challenges Analysis3.5.4 Market Opportunity Analysis3.6 Business Environment Analysis

Chapter 4 Sorbitol Market: Supplier Portfolio Analysis4.1 List of Key Raw Material Suppliers4.2 Raw Material Trends4.3 Portfolio Analysis/Kraljic Matrix4.4 Engagement Model4.5 Negotiation Strategies4.6 Sourcing Best Practices

Chapter 5 Sorbitol Market: Product Estimates & Trend Analysis5.1 Product movement analysis & market share, 2022 & 20305.1.1 Liquid5.1.1 Crystal

Chapter 6 Sorbitol Market: Application Estimates & Trend Analysis6.1 Application movement analysis & market share, 2022 & 20306.1.1 Oral Care6.1.2 Vitamin C6.1.3 Diabetic & Diabetic Food & Beverage6.1.4 Surfactant6.1.5 Others

Chapter 7 Sorbitol Market: End-use Estimates & Trend Analysis7.1 End-use movement analysis & market share, 2022 & 20307.1.1 Personal Care7.1.2 Chemical7.1.3 Food7.1.4 Pharmaceuticals7.1.5 Others

Chapter 8 Sorbitols Market: Regional Estimates & Trend Analysis

Chapter 9 Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/r/ukndp0

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Global Sorbitol Market Report 2023: Increasing Demand for Non-medical Dietary Supplements Drives Growth - Yahoo Finance