The global sorbitol market size is expected to reach USD 7.03 billion by 2025 expanding at a CAGR of 8.0%, according to a new report by Grand View Research, Inc. Rising cases of gastrointestinal disorders and diabetes due to hectic work life and changing climatic patterns are expected to promote the use of food products with minimal calories. As a result, Food & Beverage (F&B) manufacturers including Kellogg, Danone, and KFC have started using sugar substitutes, such as sorbitol, thereby driving the market growth. The liquid formulation of the product makes it easy to handle and useful in a wide range of applications. The liquid sorbitol market is projected to exhibit a high growth on account of rising demand and wide usage in lotions and face creams. It is also used in syrups and pastilles.
Personal care segment led the sorbitol market in the past in terms of revenue. Sorbitol is used as a thickening agent in the formulation of a wide range of products. Growing demand for personal care products is anticipated to augment the product demand over the forecast period. The demand in the oral care application, such as transparent gels, toothpaste, and mouthwash, is also likely to witness a high growth on account of rising awareness about oral hygiene. Over the past few years, global brands penetrated most of the untapped markets by focusing on innovative product variants. Sorbitol also finds applications as a foaming and wetting agent, emulsifier, and dispersant, which will impel the growth of surfactants segment.
Furthermore, demand for organic products is likely to contribute to the market growth in the years to come. Substitution of sorbitol in food products and decreasing production of vitamin C has resulted in low product consumption in regions, such as South Korea. However, Asia Pacific is projected to witness the fastest growth over the estimated period. China is a leading producer of vitamin C and also accounts for a major portion of sorbitol consumption as input for its production. Rapid expansion of personal care and F&B industries in Central & South America and Middle East and Africa are driving the regional markets.
Further Key findings from the study suggest:
- Liquid sorbitol is anticipated to be the fastest-growing product segment at a CAGR of 3.6% from 2018 to 2025
- Rapidly expanding global chemical industry is expected to result in a rise in demand for sugar alcohols in bio refineries, thereby augmenting the global market
- The others applications segment, which includes usage of sorbitol in bacteria culture and as humectants and thickening agent in personal care and pharmaceutical industries, led the in 2017
- North America sorbitol market is likely to register a significant CAGR of 7.0% over the forecast years
- Countries in Asia Pacific, especially India, Indonesia, and China, are expected to observe a considerable growth in the next few years
- Some of the prominent companies in the global market are The Archer Daniels Midland Company (ADM); Cargill, Inc.; Roquette Freres; Ingredion, Inc.; American International Foods, Inc.; and E. I. du Pont de Nemours and Company