Report ID: SQMIG35I2112
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.
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Report ID: SQMIG35I2112