Global Sorbitol Market to Grow with a CAGR of 4.55% through 2028
Initiatives
taken by the government to support the production of sorbitol are the major
drivers for the Global Sorbitol Market.
According to TechSci Research report, “Sorbitol Market
–Global Industry Size, Share, Trends, Competition, Opportunity and Forecast,
2018-2028”, the Global Sorbitol Market stood at
USD 1.82 Billion in 2022 and is anticipated to project robust growth in the
forecast period with a CAGR of 4.55% through 2028. This can be ascribed to
collaborations and partnerships among leading companies with a diverse approach
to merge the expertise of individual companies and to strengthen their position
in the market.
Recent research in the chemical industry and
catalysis studies has focused extensively on the production and transformation
of sorbitol. Catalytic processes play a pivotal role in converting glucose into
sorbitol, rendering it a cost-effective and sustainable alternative.
Advancements in catalytic technologies are facilitating efficient synthesis and
transformation routes, thereby contributing to the expanding utilization of
sorbitol in the chemical industry. Moreover, sorbitol is being explored as a
significant chemical intermediate for the production of renewable fuels from
biomass resources. Given the increasing emphasis on sustainability and the
reduction of reliance on fossil fuels, sorbitol's ability to be derived from
biomass sources makes it an attractive option for renewable fuel production.
This utilization aligns with the global drive for greener alternatives in the
chemical industry. Governments across different regions have acknowledged
sorbitol's potential as a versatile compound with applications in various
industries. To harness its benefits, these governments have implemented
initiatives to encourage the adoption and use of sorbitol-based products. These
initiatives are aimed at fostering innovation, ensuring sustainability, and
promoting economic growth. One notable example of government initiatives is the
relaxation of restrictions and regulations, which facilitates the production
and use of sorbitol.
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Sorbitol Market”
By streamlining regulatory processes, governments
facilitate the entry of sorbitol-based products into the market. This not only
boosts the growth of the sorbitol market but also encourages manufacturers to
invest in research and development for new product development. The World
Health Organization (WHO) has issued guidelines advising against the use of
non-sugar sweeteners (NSS) for weight control. These guidelines influence
government policies regarding the regulation and promotion of sorbitol as a
safer alternative to artificial sweeteners. Governments, such as Nigeria, have
recognized the potential of sorbitol as a domestically produced substitute for
imports. Initiatives like the Sorbitol Production Program aim to reduce import
spending by promoting domestic sorbitol production. Strategic partnerships
allow sorbitol manufacturers to access new markets and expand their presence.
By collaborating with local distributors or partnering with established
companies in specific regions, sorbitol producers can overcome entry barriers
and gain a foothold in new markets. These collaborations provide valuable
insights into local consumer preferences, regulatory frameworks, and
distribution networks, thereby enabling efficient market penetration and
expansion. Collaborations enable sorbitol manufacturers to diversify their
product portfolios by incorporating complementary offerings from their
partners. For example, collaborations between sorbitol producers and flavor
companies allow the development of value-added products such as flavored
sorbitol-based syrups or chewing gums. These partnerships enhance the attractiveness
of sorbitol-based products to consumers and open up new revenue streams for the
companies involved. Notable collaborations in the sorbitol industry include the
partnership between Roquette and Cargill for the production of sorbitol-based
clarifiers for polymers. This collaboration aims to enhance the production of
high-quality polymers by leveraging sorbitol-based additives, offering improved
performance and sustainability benefits. Additionally, Ingredion Incorporated
and SPI (Starch Products India) have formed a collaboration to expand their
sorbitol production capabilities. By leveraging each other's expertise,
resources, and global reach, they aim to meet the growing demand for sorbitol
and its applications across various industries. However, fluctuations in prices of raw materials
and growing competition from alternative products are expected to slow down the
growth of the market in the coming years.
The Global Sorbitol Market segmentation is based on
Product Type, Application, End User, By Company, and Region
Based on product type, crystal segment held the
largest market size in the forecast period. Crystal sorbitol is widely utilized
as a food additive in the production of frozen raw fish, shrimp balls, roasted
fish fillets, dried squid thread, polydextrose (soluble dietary fiber), chewing
gum, and mint tablets. It is also employed in various other frozen aquatic
products and sugar-free foodstuffs. The increasing demand for application
products, particularly in meat products and frozen foods, is expected to drive
market growth during the forecast period. Additionally, crystal-based sorbitol
finds application as a humectant in cosmetic products like moisturizers and
face creams. This is due to its ability to resist bacteriological degradation
and retain moisture. Other uses of crystal sorbitol include its role as a
plasticizer in capsule outer shell production and as a filler and excipient in
the manufacturing of pharmaceutical tablets. Thus, the rising demand for
cosmetic products is anticipated to positively impact sorbitol demand in the
years to come.
Some of the major companies operating in the Global
Sorbitol Market include:
- American International Foods, Inc.
- Cargill Incorporated
- Gulshan Polyols Ltd.
- Merck KGaA
- Ecogreen Oleochemicals GmbH
- Qinhuangdao Lihua Starch Co., Ltd.
- Ingredion Incorporated
- Kasyap Sweeteners, Ltd.
- DuPont Inc.
- SPI Pharma, Inc.
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“Certain regions, particularly the Asia Pacific,
are projected to exert significant demand for sorbitol worldwide. The growth in
the competitive landscape and the presence of well-established companies in the
market, committed to enhancing their sorbitol productivity each year, are
expected to contribute to a remarkable growth of the Global Sorbitol Market in
the forecast period," said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based Global management consulting firm.
Global Sorbitol Market By Product Type (Liquid, Crystal), By Application (Oral Care,
Vitamin C, Diabetic & Diabetic Food & Beverage, Surfactant, Others), By
End User (Personal Care, Chemical, Pharmaceutical, Others), By Region, By
Competition Forecast & Opportunities, 2018-2028F has evaluated
the future growth potential of Global Sorbitol Market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide innovative market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Sorbitol Market.
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