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Sorbitol Market Current Scenario 2020: Global Industry Analysis, Size, Share, Trends, Top Key Players Like Archer Daniels Midland Company, Cargill Incorporated, Roquette Freres, Ingredion Incorporated
Sorbitol Market
The Global Sorbitol Market size is estimated to reach USD 2,350 million and record a CAGR of 6.65% by the end of 2024. Sorbitol refers to alcohol that is produced through the reduction of glucose. It is sweet in taste and is also known as glucitol. Most commonly, sorbitol is generally made from corn syrup but can also be found in natural food products such as apples, prunes, peaches, and pears. Sorbitol has various useful properties like non-carcinogenic, cooling effect, a sweetening flavor, lower calories, and enhanced compressibility. As per the latest research conducted by Market Research Future (MRFR), the global sorbitol market is anticipated to witness lucrative growth during the conjecture period.
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Sorbitol has a vast area of applications in end-user industries such as personal care, pharmaceuticals, cosmetics, food & beverages, and chemicals industry. This wide range of applications has enabled the sorbitol market to garner fast-paced growth during the forecast period. Moreover, a growing inclination towards the use of low-calorie products in the food & beverage sector is driving significant growth to the global sorbitol market. Economic growth in the developing countries through the world has upscaled the demand for home care and personal care products, in turn, boosting demand for sorbitol. Growing prevalence of lifestyle diseases and augmenting awareness towards health consciousness is expected to push growth in the global sorbitol market.
Sorbitol Market Key Players
Some of the distinguished players in the global sorbitol market, as profiled in the MRFR analysis, include Roquette Freres (France), Cargill Inc. (U.S.), Tereos Starch & Sweeteners (France), Archer Daniel Midland (U.S.), Ingredion Inc. (U.S.), Ecogreen Oleochemicals Pte. Ltd (Singapore), Merck Group (Germany), Daisco (japan), Qinhuangdao Lihua Starch Company Ltd (China), Sigma-Aldrich Company (U.S.), Tereos (Belgium) and Gulshan Polyols Ltd (India).
Sorbitol Industry Update
July 2019: Researchers at the Leibniz University, Germany recently examined the impact of sorbitol admixture to hole-conduction polymer 'PEDOT:PSS' on crystalline/polymer silicon heterojunction solar cells. According to the research, the admixture of infrared-transparent sorbitol augmented the short-circuit density of the cell because of a reduction in infrared parasitic absorption, along with an improved passivation quality of PEDOT:PSS.
Sorbitol Market Segmentation
The report has extensive analysis of the global sorbitol market based on the forms of sorbitol, functions of sorbitol, types, and different end-uses of the same. Sorbitol is available in liquid as well as crystal form. Different functions of sorbitol include a bulking agent, sweetener, flavoring agent, and humectant. Sorbitol has many applications in end-user industries such as pharmaceuticals, cosmetic, personal care, food & beverages, paper industry, packaging, chemicals, and plastic industry.
Sorbitol Market Regional Analysis
The global sorbitol market is studied for various regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Among these regions, Asia Pacific held the largest share of the global sorbitol market at the beginning of the forecast period. The sorbitol market in the APAC region is expected to expand at a significant CAGR through the forecast period. Accelerated development of end-use industries is anticipated to propel demand growth in the regional sorbitol market. Along with that, the growing demand for cosmetics and personal care products is expected to push growth in the regional sorbitol market. Moreover, augmentation of health consciousness among consumers has fueled substantial growth in the region's sorbitol market during the assessment period.
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North America is anticipated to capture the second-largest share in the global sorbitol market. Europe, on the other hand, is expected to follow North America, fetching the third position in the global sorbitol market over the forecast period. Well-developed personal care and food & beverage industries are estimated to be some of the most vital factors attributable to the ascension observed in the sorbitol market residing in these regions. Fast-paced lifestyle and a surge in the working population has led to upscaling demand for convenience foods in these regions. This, in turn, has led to burgeoning consumption of sorbitol, prompting higher growth in the region. Within North America, the US and Canada are expected to spearhead the country-specific markets for sorbitol during the assessment period. Apart from that, the developed personal care and home care industries in European countries are anticipated to drive substantial growth in Europe's sorbitol market. The UK, Germany, and Italy are expected to lead the country-specific market for sorbitol in Europe.
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