Sorbitol Market Estimated to Flourish by 2024
Sorbitol also has major application in personal care products as it has unique characteristics of humectant and thickener. Products such as moisturizer, creams, toothpaste, mouthwash and in many other personal care products, sorbitol is used. In pharmaceutical industry, sorbitol is mostly used as to sweeten the medicines, syrups and tablets. Owing to the market segment of sorbitol in global level market, it is expected that food and beverage and personal care segment acquires the majority of share in terms of both value and volume.
Sorbitol is kind of sweetener/sugar alcohol extracted from corn syrup and also from fruits and berries such as apple, pear, prunes etc. Growing demand of sorbitol in global level market is due to its unique quality of sweetening agent, lower caloric value, preservative, thickening agent, humectant and anti-crystalizing agent. In food and beverage industry, sorbitol is preferred as a substitute to sugar as it has natural sweetening taste with low caloric value. Sorbitol also used in many other industry, such as personal care and pharmaceuticals. In terms of global demand by region, majority of demand of sorbitol accounts from Asia Pacific region.
Key driver behind increasing demand of sorbitol in current market is from food and beverage manufacturers as they use sorbitol for preparing sugar-free and dietary food products. Moreover, sorbitol is used as thickening and gelling purpose in frozen food, desserts, bakery products, chewing gums and other confectionery products. Demand from personal care industry also drives the growth of sorbitol in near future as in this industry sorbitol primarily used to maintain viscosity and moisture in products such as toothpaste, creams, moisturizer etc. On the other side, increasing number of diabetic patients in developing countries also leads to increase in demand of sorbitol syrup and as a sugar substitute which helps to maintain the level of blood glucose in diabetic patients, controls weight and to cure from problem related to obesity and dietary illness.
On the basis of regional outlook, sorbitol market is segmented in five different regions namely: North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. On analyzing the market share of sorbitol market on pie chart, it shows that Europe is expected to be the second largest market of sorbitol followed by Asia Pacific region in terms of value. In terms of volume North America, Europe and Asia Pacific region is expected to lucrative market for sorbitol.
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Key players in sorbitol market are: Cargill, Incorporated, Archer Daniels Midland Company, ROQUETTE FRERES, American International Foods, Dancheng CAIXIN Sugar Industry Co.LTD., Merck Group, Sayaji Group, SLADKII MIR LTD and Tereos.
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