Overview and Scope
Sorbitol is a sugar alcohol derived from glucose, commonly used as a sweetener in various industries. It is utilized in the food industry for sugar-free and dietetic products such as candies, chewing gum, and baked goods due to its lower caloric content than sugar. In the pharmaceutical sector, sorbitol serves as a laxative and a sugar substitute in medications for diabetics, as well as a stabilizer in syrups. Additionally, it is used in cosmetics as a humectant and thickener, enhancing moisture retention and product texture.
Sizing and Forecast
The sorbitol market size has grown strongly in recent years. It will grow from $1.71 billion in 2023 to $1.83 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to increased use of sorbitol in personal care, economic growth, increased disposable incomes in developing, Increased use of sorbitol as an excipient in pharmaceutical formulations, use of sorbitol in industrial applications..
The sorbitol market size is expected to see strong growth in the next few years. It will grow to $2.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to growing emphasis on sustainability, continued growth in health and wellness, growing use of sorbitol in pharmaceutical formulations as an excipient, continued regulatory support, rising consumer preference for natural and plant-based sweeteners. Major trends in the forecast period include expansion in personal care and cosmetics, growth in pharmaceuticals, technological advancements, growth in emerging markets, innovation in food and beverage products.
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Segmentation & Regional Insights
The sorbitol market covered in this report is segmented –
1) By Product: Liquid, Crystal
2) By Application: Oral Care, Vitamin C, Diabetic And Dietetic Food And Beverage, Surfactant, Other Applications
3) By End User: Personal Care, Chemical, Food, Pharmaceuticals, Other End Users
North America was the largest region in the sorbitol market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sorbitol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing prevalence of diabetes is expected to propel the growth of the sorbitol market going forward. Diabetes is a chronic medical condition characterized by high blood sugar levels due to the body’s inability to produce enough insulin or effectively use the insulin it produces. The rising obesity rates, sedentary lifestyles, unhealthy diets, and an aging population are the factors that impact the diabetes market. Sorbitol’s low glycemic index and reduced calorie content make it a preferred sugar substitute in diabetic-friendly products, helping individuals with diabetes manage their blood sugar levels while enjoying sweet treats. For instance, in July 2021, according to the report published by the International Diabetes Federation, a Belgium-based authoritative source of evidence on the prevalence of diabetes, there were 537 million adults aged 20–79 living with diabetes, representing a prevalence of 1 in 10 individuals. Moreover, projections indicate that this figure will escalate to 643 million by 2030 and surge further to 783 million by 2045. Therefore, the increasing prevalence of diabetes will drive the growth of the sorbitol market.
Key Industry Players
Major companies operating in the sorbitol market are Cargill Incorporated, Archer Daniels Midland Company, Merck KGaA, DuPont de Nemours Inc., Ingredion Incorporated, Tereos SA, Roquette Frères, Sigma-Aldrich Co. LLC., Luzhou Group, Dancheng Caixin Sugar Industry Co. Ltd., Futaste Pharmaceutical Co. Ltd., Ecogreen Oleochemicals, PT Sorini Agro Asia Corporindo Tbk, Sorini Agro Asia Corporindo Tbk, Gulshan Polyols Ltd., Spectrum Chemical Manufacturing Corp, SPI Pharma, TCI Chemicals Pvt. Ltd., Sukhjit Starch & Chemicals Ltd., Kasyap Sweeteners Ltd., B Food Science Co. Ltd , American International Foods Inc, Mitsubishi Shoji Foodtech Co. Ltd., Ueno Fine Chemicals, Qingyuan Foods
The sorbitol market report table of contents includes:
1. Executive Summary
2. Sorbitol Market Report Structure
3. Sorbitol Market Trends And Strategies
4. Sorbitol Market – Macro Economic Scenario
5. Sorbitol Market Size And Growth
…..
27. Sorbitol Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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