Global Sorbitol Market – Growth, Trends and Forecasts (2018 - 2023)
The global market for sorbitol is expected to reach USD 1.28 billion by 2023, registering a CAGR of 5.5%, during 2018-2023 during the forecast period. Merck, one of the leading sorbitol manufactures, developed directly compressible sorbitol Parteck® SI. The unique particle structure of Parteck® SI gives it distinctive physical properties, making it the perfect excipient for combining many ingredients into one elegant and robust tablet formulation.
Growing Demand for Artificial Sweeteners
Sorbitol is majorly used as a sweetener or moisture-stabilizing agent in the production of confectionery, baked goods and chocolate, among many other products. The moisture-stabilizing action of this substance makes it a preferable choice for products that get dry or harden faster, thus, maintaining freshness during storage. Sorbitol can withstand high temperatures and can combine well with other food ingredients such as gelling agents, fats and sugars.
Sorbitol is used to impart taste and sweetness. Increased applications of sorbitol in the food industry has augmented the market of non-calorie sweetener. Increasing health awareness, and rising sugar prices are pushing the manufacturers to reduce the sugar usage. Demand for sorbitolfrom major countries in the region like Japan, China, and South Korea is also fueling the overall market.
Food application of sorbitol includes bakery, confectionary, dairy, meat and other processed foods. Chewing gums in confectionary is one of the major segments where sorbitol mostly is used. Sorbitol is certified as GRAS (generally recognized as safe) by the FDA. However, the certification do limit the amount of sorbitol that can be used in food; further, food containing an excess of 50 grams of it must be labeled with: “Excess consumption may have a laxative effect.”
Asia-Pacific is the Fastest Growing Market
Consumption of sorbitol in other countries of the region, like India, Japan and Australia, is expected to grow at a steady rate due to the increasing diabetic and obese population and growing demand from the food and beverage industry. High obesity and diabetes rates in South America region is pushing the awareness and growth of the sugar alcohol products. Sorbitol is expected to perform well in the region. Africa is one of the emerging markets, dominated by the developing countries such as South Africa and Egypt. Although, it is in its nascent stage, it is expected to grow at a faster pace during the forecast period.Major PLAYERS: AMERICAN INTERNATIONAL FOODS, ARCHER DANIELS MIDLAND (ADM), CARGILL, DANISCO, GULSHAN POLYOLS LTD., INGREDION INCORPORATED, JEECON FOODS PVT. LTD., MERCK, ROQUETTE and SPI PHARMA INC., amongst others.
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