USD 2.19 Billion
Report ID:
SQMIG35I2112 |
Region:
Global |
Published Date: July, 2024
Pages:
219
|Tables:
91
|Figures:
77
Sorbitol Market size was valued at USD 2.29 Billion in 2023 and is poised to grow from USD 2.39 Billion in 2024 to USD 3.4 Billion by 2032, growing at a CAGR of 4.47% during the forecast period (2025-2032).
The market is expected to witness significant growth over the forecast period owing to the rising usage of diabetic and dietetic food and beverages. The growing product demand as a substitute for sugar in consumer food products is also expected to drive demand for the product over the next few years. Sorbitol is also increasingly being used in oral care products as it is metabolized at a slower rate as compared to other sugar alcohols, preventing dental problems such as cavities and tooth decay. The benefits of the same are expected to propel industry growth over the forecast period. Additionally, the trend of shifting production capacities to the Asia Pacific due to low production and labor costs has resulted in low costs for sorbitol, therefore causing rising demand for non-food applications. The major driver for the market is the growing demand from the food and beverage industry for nutritive sweeteners. Approval from safety regulatory and human health bodies such as the FDA and the U.S. Department of Agriculture (USDA) for the use of the product in medicines and bakery foods is expected to further drive the market in the U.S. In addition, sorbitol also finds application as a humectant in pharmaceutical products, thereby fueling the growth of the product in the country due to the presence of one of the biggest pharmaceutical industries. As a result, the demand for sorbitol is also anticipated to increase over the forecast period.
US Sorbitol Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2.19 Billion
Largest Segment
Liquid
Fastest Growth
Liquid
Growth Rate
4.47% CAGR
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Global Sorbitol Market is segmented based on Product, Application, End User and region. Based on Product the Sorbitol Market is segmented into Liquid and Crystal. Based on Application the Sorbitol Market is segmented into Oral Care, Vitamin C, Diabetic & Dietetic Food & Beverage, Surfactant and Others. Based on End User the Sorbitol Market is segmented into Personal Care, Chemical, Food, Pharmaceuticals, Others. Based on region the global Sorbitol Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Sorbitol Market Analysis by Product
In terms of revenue, liquid dominated the sorbitol market share, with more than 79.0% in 2023. In the pharmaceutical and food and beverage industries, liquid sorbitol is primarily used as a sugar substitute. Its ability to blend easily with formulations ensures high demand, especially in bulk production. Additionally, liquid sorbitol is cost-effective to produce and transport, further reinforcing its dominant position in the market. The use of the product in these industries is anticipated to be fueled by the rising demand for low-calorie food carried by the increasing number of health-conscious consumers and patients with obesity around the globe.
The crystal segment is experiencing notable growth due to increasing demand for solid formulations in pharmaceutical tablets, dietary supplements, and baked goods. The manufacture includes frozen raw fish, crab balls, roasted fish fillets, dried squid thread, polydextrose (soluble dietary fiber), chewing gum, and mint tablets all use crystal sorbitol as a food additive. Also, it is implemented in a variety of other frozen aquatic goods and sugar-free snacks. The crystal segment, while smaller, is experiencing notable growth due to increasing demand for solid formulations in pharmaceutical tablets, dietary supplements, and baked goods. The crystal segment is growing steadily, supported by expanding uses in pharmaceutical and food sectors that require stable and durable formulations.
Sorbitol Market Analysis by Application
As per sorbitol market analysis, diabetic and diet foods and beverages dominated the market and made up more than 35.0% of global sales. The rising global demand for functional foods and economies of scale have decreased manufacturing costs for the large manufacturers while also creating new opportunities for sorbitol's future growth. A constant increase in the demand for sweeteners like maltitol and xylitol is projected to pose a danger to the food sector because sorbitol can be used in their place.
Surfactant segment is dominating the sorbitol industry. Sorbitol serves as surfactants as wetting and foaming agents, dispersants, detergents, and emulsifiers. In the food processing sector, the use of biobased surfactants is rising. A range of culinary products, including bread, ice cream, and cakes, benefit from the surfactant's stabilizing properties. The surfactants also contribute to extending shelf life and maintaining the viscosity and texture of food products. As a result, during the forecast period, the rise of the food processing industry is anticipated to fuel consumer interest in products made using biobased surfactant.
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As per sorbitol market outlook, the North America region is dominating. Increased awareness among North American consumers of the harmful health effects resulting from the deterioration of packaged foods such frozen desserts, chocolates, and bread rolls is anticipated to encourage the use of sorbitol, which extends the shelf life of these commodities. North America plays a significant role in the sorbitol market, driven by high consumer awareness of health and wellness trends, particularly regarding sugar reduction and low-calorie diets. The region is a key market for sugar-free and diabetic-friendly products, where sorbitol is extensively used in food, beverages, and oral care products. The sorbitol market in Asia-Pacific is anticipated to grow at the fastest CAGR during 2024 to 2031. This is as a consequence of its quick growth over the expected forecast period. The Asia-Pacific region is the fastest-growing market for sorbitol, driven by factors such as expanding industrial activity, increasing health awareness, and the growing food and beverage industry in countries like China, India, and Japan. The region grows the market due to its robust manufacturing base, availability of raw materials, and cost-effective production processes. Rising disposable incomes and urbanization have also fueled demand for sugar substitutes in packaged foods, beverages, and personal care products.
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Sorbitol Market Drivers
Increasing Health Consciousness
Expanding Demand in Pharmaceuticals
Sorbitol Market Restraints
Digestive Issues from Excessive Consumption
Rising Competition from Alternative Sweeteners
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The leading companies in the global sorbitol market are launching bio-based variants that are obtained from renewable feedstocks, including agricultural waste, biomass, and other sustainable sources, which reduces dependence on fossil fuel-based feedstock. In addition, key players are focusing on clean label requirements on account of the rising demand of consumers for clean labels and natural ingredients. Moreover, the advent of new product formats, such as chewable tablets, gummies, or dissolvable strips, to enhance consumer convenience and improve their overall experience is creating a favorable outlook for the market. Owing to these developments, it is expected that the market will witness new entrants, consolidation of the product portfolio, and increased collaborations for driving healthy competition within the domain.
Sorbitol Market Top Player’s Company Profiles
Sorbitol Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the sorbitol market growth is fueled by the increasing demand for sugar substitutes across various industries such as food and beverages, pharmaceuticals, and personal care. Sorbitol, a sugar alcohol, is valued for its low-calorie, non-cariogenic properties, making it a popular ingredient in sugar-free and diabetic-friendly products. The growing health consciousness among consumers and the rising prevalence of lifestyle diseases, such as obesity and diabetes, are key drivers of market expansion. Additionally, sorbitol's use in pharmaceuticals for its laxative properties and as a stabilizer in syrups and tablets further boosts its market potential. The Asia-Pacific region leads the market due to high demand in countries like China and India, while North America and Europe also contribute significantly, driven by consumer trends toward healthier eating. However, challenges like potential digestive issues from excessive consumption and competition from other sugar alcohols, such as xylitol, may hinder the market's growth. Despite these challenges, the sorbitol market is expected to continue expanding as consumers seek healthier alternatives to sugar in their diets.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 2.19 Billion |
Market size value in 2031 | USD 3.25 Billion |
Growth Rate | 4.47% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Sorbitol Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Sorbitol Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sorbitol Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Sorbitol Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35I2112
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