Global Sorbitol Market accounted for USD 1.08 billion in 2016 and is projected to grow at a CAGR of 5.1% during the forecast period of 2017 to 2024.
Sorbitol or glucitol is a kind of carbohydrate which is sweet in taste and is slowly digested by the human body. They are usually obtained by the apple, corn syrup, prunes etc. There main aim to provide sweetness and texture. Liquid and powder sorbitol are two of the major type of the sorbitol. They are widely used in the industries like pharmaceutical, food and beverages, cosmetics etc. Rising demand for low calorie food among population is the major factor fueling the growth of this market.
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Key Market Competitors: Global Sorbitol Market
Some of the major players in global sorbitol market include Archer Daniels Midland, Cargill Incorporation, Danisco A/S, Ecogreen Oleochemicals Pte. Ltd., Gujarat Ambuja Exports Ltd., Gulshan Polyols Ltd., Ingredion Incorporated, Jeecon Foods Pvt. Ltd., Kasyap Sweetners Ltd., Merck Group, Qinhuangdao Lihua Starch Co. Ltd., Roquette Frères, SPI Pharma, Inc., Sukhjit Starch & Chemicals Ltd., Tereos Starch & Sweeteners and many more.
Market Definition: Global Sorbitol Market
Sorbitol is kind of sweetener/sugar alcohol extracted from corn syrup and also from fruits such as apple, pear, prunes etc. The demand for sorbitol is high on account of consumer preference for low calorie food and use in organic personal care. Furthermore, the growing demand for sorbitol in cosmetics & personal care, food & beverage, pharmaceuticals and chemicals industries is expected to be one of the major drivers of the market over the next seven years.
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Major Market Drivers:
- Consumer preference for low-calorie food
- Rising health problems due to consumption of sugar-based products
- Growing organic personal care market
- Adherence to international quality standards and regulations
Market Segmentation: Global Sorbitol Market
The sorbitol market is segmented on the basis of product type into liquid/syrup sorbitol and powder/crystal sorbitol.
On the basis of function, the market is segmented into sweetener, bulking agent, flavoring agent, humectant and others.
On the basis of application, the market is segmented into cosmetics & personal care, food & beverage, pharmaceuticals, chemicals and other.
On the basis of geography, the sorbitol market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Landscape: Global Sorbitol Market
The global sorbitol market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth
strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors: Global Sorbitol Market
Some of the major players in sorbitol market include Archer Daniels Midland, Cargill Incorporation, Danisco A/S, Ecogreen Oleochemicals Pte. Ltd., Gujarat Ambuja Exports Ltd., Gulshan Polyols Ltd., Ingredion Incorporated, Jeecon Foods Pvt. Ltd., Kasyap Sweetners Ltd., Merck Group, Qinhuangdao Lihua Starch Co. Ltd., Roquette Frères, SPI Pharma, Inc., Sukhjit Starch & Chemicals Ltd., Tereos Starch & Sweeteners and many more.
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