Sorbitol Market– Growth, Trends and Forecasts (2017 - 2022)
The market was valued at USD XX billion in 2016 and is expected to reach USD 2.3 billion by 2022, registering a CAGR of 5.5%, during 2017-2022 (the forecast period). The major types of sorbitol include liquid/syrup sorbitol and crystal/powder sorbitol. Liquid/syrup segment led the sorbitol market in 2016, and is expected to witness the fastest growth during 2017-2022 (the forecast period), due to its increasing acceptance in various applications like as a low-calorie sugar substitute. The demand for liquid sorbitol is very high among regions because of its ease of use and low manufacturing cost. On the other hand, powder sorbitol has limited applications in the food and pharmaceuticals industries.
The Growing Demand for Artificial Sweeteners, Owing To the Globally Increasing Number Of Diabetic Cases, Is Expected To Accelerate The Market
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.
Asia-Pacifica Is Expected To Be Largest Producer and Consumer of Sorbitol Market
The global demand for sorbitol is expected to be 20-25% higher in the upcoming decade. Based on production, Asia- pacific is expected to lead the global sorbitol industry, as it is one the fastest growing consumers of sorbitol. India and China are the fastest consumer of sorbitol because of the rising demand, and its increased use in the cosmetic & personal care, and food & beverages industries. Europe is the second-largest consumer of sorbitol, globally, which is expected to witness a sluggish growth rate of 2.6% owing to slow growth of pharmaceutical companies in the countries such as Italy, Spain and France.
Sorbitol is certified as GRAS (generally recognized as safe) by the FDA. However, the certification do limits 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.”
Our Global Sorbitol Market Report Covers:
Market trends & dynamics
Latest News & developments
Porter’s five force analysis
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