Global Sorbitol Market Will Reach USD 1.59 Billion by 2022: Zion Market Research
According to the report, global sorbitol market was valued at USD 1.17 billion in 2016, is expected to reach USD 1.59 billion in 2022 and is anticipated to grow at a CAGR of 5.3% between 2017 and 2022.
October 09, 2017 07:32 ET | Source: Zion Market Research
Sarasota, FL, Oct. 09, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled "Sorbitol Market (Crystal/Powder Sorbitol and Liquid/Syrup Sorbitol) for Cosmetics & Personal Care, Food & Beverage, Pharmaceuticals, Chemicals & Other Applications - Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 - 2022". According to the report, global sorbitol market was valued at USD 1.17 billion in 2016, is expected to reach USD 1.59 billion in 2022 and is anticipated to grow at a CAGR of 5.3% between 2017 and 2022.
Sorbitol is a six-carbon sugar alcohol manufactured from glucose. Sorbitol gradually absorbed from the intestine and helps to digestion in the body particularly for diabetic's patients. Sorbitol is 50-60% as sweet as sucrose. It is used in baked products, jam, and confectionery suitable for diabetics. Sorbitol is a healthier substitute for sugar and it provides dietary energy because of its nutritive sweetener nature. Sorbitol is available in two forms such as liquid/syrup and crystal/powder. Furthermore, the pace of consumption of sorbitol in food & beverages, personal care applications is expected to be highest during the forecast period. This is due to increasing concerns about health among consumers.
Browse through 42 Market Tables and 32 Figures spread through 110 Pages and in-depth TOC on "Global Sorbitol Market: By Application, Type, Size, Industry Demand, Analysis and Forecast 2016 - 2022".
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Liquid/Syrup sorbitol is more preferable in multiple applications and led to a huge demand in the year 2016. The acceptance for liquid sorbitol has increased as an alternative to a sugar in regular consumer products. As a manufacturing process, liquid sorbitol has a lower manufacturing cost than crystal/powder sorbitol. Inconsistent raw material prices and side effects due to immoderate consumption of sorbitol are the restraining factors for the sorbitol market. The rising consumer demand for sugarless healthy foods and concerning about diabetes is expected to boost the sorbitol market. Sorbitol is consumed in various industries such as food and beverages, personal care products, pharmaceuticals and medicines for different applications. Such an increasing application scope for sorbitol has resulted in a high potential for Sorbitol market. Liquid/syrup sorbitol consumes more than 80% of the market share as compared with crystal/powder sorbitol. Personal care products, food, and beverages are expected to lead global Sorbitol market within the forecast period. Rising concern about diabetic and dietetic population helps to generate awareness about sugar substitute and anxiety about health.
The global sorbitol market has been segmented into mainly two types as liquid/syrup sorbitol and crystal/powder sorbitol. Liquid/syrup sorbitol is manufactured by multiple processes such as purification of dextrose, hydrogenation, and purification. Crystal/powder sorbitol has made through spray drying method. Liquid/syrup sorbitol has a simple manufacturing process and has a comparatively lower price than crystal/powder sorbitol. Liquid/syrup sorbitol has incorporated a wide application area and higher consumption in the overall sorbitol market than crystal/powder sorbitol market.
Browse the full "Sorbitol Market (Crystal/Powder Sorbitol and Liquid/Syrup Sorbitol) for Cosmetics & Personal Care, Food & Beverage, Pharmaceuticals, Chemicals & Other Applications - Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 - 2022" report at https://www.zionmarketresearch.com/report/sorbitol-market
In 2016, Asia Pacific contributed the largest revenue share in the global sorbitol market. The global demand for sorbitol is increasing by 2% to 3% yearly. China is the largest producer of sorbitol. The region is mainly backed by the China having a strong penetration of sorbitol. The Asia Pacific sorbitol demand is mainly influenced by India, China, Indonesia, and Japan. Asia Pacific is poised to register robust growth, offering significant investment and growth opportunities for manufacturers in the coming years. The market sorbitol in the region is mainly driven by the perpetually growing demand from India and China. These emerging markets uphold huge growth potential given the government policies that promote the adoption of sorbitol over conventional solvents.
North American consumption of sorbitol is expected to grow at a modest rate of 1.5-2.0% annually during the forecast period. South American sorbitol consumption is expected to grow at an average annual rate of 2.4%. The European region is poised to register robust growth, offering significant investment and growth opportunities for manufacturers in the coming years. European countries (France, Germany, and England) are also observing increasing investment in sorbitol in industries (Pharmaceuticals, Personal Care Applications, etc.) which is estimated to benefit market growth in the region. However, current developments and an economic turnaround encourage a positive outlook for the near future.
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The market for sorbitol in Latin America is expected to prosper on account of favorable Government initiatives. The Middle East and Africa represent a region with a huge potential for sorbitol in the near future. Chemical industry undergoing technological disruptions, the movement in the Middle East and Africa is increased exceptionally. Improving economic activity expected to boost the sorbitol market in the region.
Global sorbitol market is very competitive and fragmented by the presence of many small and big players. Key players profiled in the report include Cargill, Ingredion Incorporated, Tereos Starch & Sweeteners, Archer Daniels Midland, SPI Pharma, Merck Group, Sukhjit Starch & Chemicals Ltd, Gulshan Polyols, Roquette Freres, Other prominent companies include American International foods, Ecogreen Oleo chemicals. The major players are involving to develop their product. The key players are taking active measures to develop their products and expand their production capabilities in near future
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