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The global sorbitol market size was valued at USD 1,244.5 million in 2018 and is projected to reach USD 1,928.3 million by the end of 2026, exhibiting a CAGR of 5.54% in the forecast period 2019-2026.
Sorbitol is a sugar alcohol and is identified as a potential key chemical intermediate from biomass resources. It is used as sweetener, humectant, sequestrant, texturizer, stabilizer, and bulking agent in various industries such as food & beverage, pharmaceuticals, cosmetics & personal care, etc It varies with the application areas as it is majorly used as preservative, additive, and sweetener in the food industry, as a carrier in the pharmaceutical industry and as an emulsion stabilizer in cosmetics. Enabled by this, the market is expected to grow considerably in the years to come.
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“Increasing Prevalence of Diabetes to Offer Growth Opportunities”
An increase in health-conscious consumers, a rise in incidences of diabetes, and a growth in demand for confectionery & processed products are driving the sorbitol market growth. According to WHO, the number of people with diabetes has risen from 108 million in 1980 to 422 million in 2014. It also revealed that diabetes prevalence has been rising more rapidly in middle- and low-income countries and the same is projected to drive the demand for sorbitol as it is used as a reduced-calorie alternative to sugar.
“Increasing chocolate confectionery consumption Will Enable Market Growth”
Sorbitol is significantly used in the production of confectionery, baked goods, and chocolate as it functions as a humectant, moisture-stabilizer, and texturizer. Global chocolate confectionery consumption witnessed a CAGR growth of 2% during the period from 2013 to 2018, while the same in countries such as India and China witnessed a cumulative growth of 7.85% during the same period. According to data from the industry, global sales of baked goods witnessed a CAGR growth of 4.6% during the period from 2013 to 2018. Sorbitol also acts as an alternative feedstock for the production of propylene glycol which has various application areas such as unsaturated polyester resins, functional fluids, food & feed, cosmetics, etc. Therefore, a wide range of its applications in the pharmaceutical, chemical, cosmetics, food, beverage, plastics, and other industries helping the market to grow rapidly.
Sorbitol mainly utilizes sugar alcohol, provides one-third fewer calories than sugar and 60% more sweetness intensity as compared to sucrose. Its safety profile is generally recognized by the World Health Organization, the European Union, and the designated authorities of Australia, Canada, Japan as well as the U.S. Food and Drug Administration (FDA). The Joint FAO/WHO Expert Committee on Food Additives has not provided the upper limit of sorbitol as a dietary intake - the FDA notes that its use in food should not exceed the levels of good manufacturing practices.
The excess of sorbitol is known to create gastrointestinal discomfort – its potential laxative effects can negatively impact sales growth. Nonetheless, its positive effects on oral health and blood sugar management outweigh its limitation. The volatility in prices of basic raw materials is one of the major challenges in the global sorbitol market report. Adherence to international quality standards, price competition, and serious consequences of losing a single large contract have a high level of impact on the sorbitol producing companies.
“Liquid or Syrupy Form is Dominating in Global Marketplace – Functional Improvement will Drive the Future Sales irrespective of the Form”
Liquid form accounts for the majority of the global sorbitol market share due to advancements in the production process, ease of use, and low manufacturing costs. Crystalline sorbitol is a sugar-free sweetener used primarily in the production of sugarless gum, candy, specialty foods, and pharmaceuticals. The demand for crystalline and liquid forms of sorbitol is expected to increase, which will eventually push propel the market growth.
Commercially, sorbitol is generally available and marketed in the form of 70% solution –polyhydric alcohol with a colorless to faint yellowish appearance. Moreover, liquid sorbitol remains mostly inert to humidity fluctuations. Its aqueous solution replicates many properties of glycols and glycerol, thus acting as a suitable substitute. Sorbitol liquid is also a good humectant and water stabilizer which enables its utilization in the gelatin capsule industry and cosmetic emulsions. The future growth trajectory of the market will depend on the functional improvement that will result in its effective utilization through a plethora of application sectors.
Starch-rich materials such as corn, wheat, potato, and cassava are majorly used as raw material for the production of sorbitol, and corn source accounts for major market share. The rising demand for corn for the production of sorbitol is projected to expand the sorbitol market share in the foreseeable future.
“Functional Characteristics to Favor the Growth to Enable the Growth of F&B Segment”
The food and beverage domain is leading the application segment of sorbitol, which acts as a nutritive sweetener providing dietary energy of 2.4–2.6 kilocalories per gram. It is known to confer a sweet, cool, and pleasant taste to the food products in which it is incorporated. Food manufacturers and processors are capitalizing on the sweetening, texturizing, moisturizing, and softening abilities of sorbitol to improve the overall organoleptic profile of processed foods.
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Some of the important functional characteristics of this sugar alcohol are the humectant effect, bodying agent, and crystallization-inhibitor apart from serving as a sweetener. It is also increasingly utilized with xylitol to provide synergistic effects. It finds major application in flavor concentrates, chewing gum, icings and toppings, beverages, and special dietary foods.
“Rapid Growth of Personal Care & Cosmetics Industry to Drive the Market in Asia Pacific”
The Asia Pacific sorbitol market is leading in a global scenario owing to the presence of China, which harbors one of the largest production of Vitamin C utilizing significant quantities of sorbitol. The region also has an Indonesian market, which is home to the second-largest producer of starch sweeteners and sorbitol.
The cosmetics and personal care industry of the region is also one of the leading application areas of sorbitol. Its increasing use in cosmetics and personal care around the world is expected to foster the sorbitol market size in the forthcoming years. In the cosmetics sector, sorbitol provides strong competition to propylene glycol and glycerin because it serves as a humectant and emulsion stabilize. Further, this property facilitates its utilization in lotions, creams, shampoos, and hair conditioners.
Asia Pacific Sorbitol Market Size, 2018
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The sorbitol market in North America is also performing decently owing to the high contribution from the U.S. This is one of the leading consumers and the utilization of sorbitol in the non-food industries is also significantly contributing to its regional sales. It has long been utilized in oral-care products, primarily toothpaste. It helps in preventing the oral cavity and thus its application is increasingly used in sugar-free chewing gums. This factor is expected to encourage growth in the market in North America.
"Moderately Consolidated Industry Structure in the Global Market"
Sorbitol act as a promising business investment segment for the companies involved in glucose chemical derivatives production business across the world. Technological advancements in the production process and high demand from the growing end-use industries have attracted the majority of the market players to invest in its production. in turn, will give impetus to the sorbitol market revenue. However, Cargill, ADM, and Roquette Frères are the largest market players accounts for major share in the market and other key players include SPI Pharma Inc., Ingredion Inc., Tereos Starch & Sweeteners s.a.s, Pfizer Inc., SPI Pharma, Lonza Inc., Merck KGaA, Tate & Lyle, and others.
The global market remains largely fragmented due to the presence of key global giants such as Cargill, Incorporated., Ingredion Incorporated, Roquette Frères, is making it consolidated in the key markets of Western Europe and North America. Companies are planning to adopt several strategies to sustain the competition, which will further upscale the sorbitol market growth.
An Infographic Representation of Sorbitol Market
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The report on the global sorbitol market provides insights into the latest industry trends. The report offers an in-depth analysis of the global market with regard to factors such as leading products and applications. Additionally, the report classifies the market based on regional demographics and highlights leading regions.
Besides, the report covers the latest industry developments and covers a few of the major company activities such as mergers and acquisitions, company collaborations, and takeovers.
Value (USD Million)
Fortune Business Insights says that the global sorbitol was USD 1.24 Billion in 2018.
The global market is projected to value at USD 1.93 Billion in 2026 due to growing demand from various application areas.
The global market is projected to grow at CAGR of 5.54% during the forecast period (2019-2026).
U.S. and China are the largest markets for sorbitol and are projected to account for share of 36% cumulatively in 2026.
Sorbitol finds wide range of applications and the segment dominates the market during the forecast period. Growing sectors in the food industry such as confectionery and chewing gums are projected to support the sorbitol market.
Liquid or syrupy sorbitol forms are leading type segment in the global sorbitol market during the forecast period.
Growing demand from confectionery, baked goods, and chocolate sectors is projected to drive the market for sorbitol. Adherence to international quality standards and price competition are the major restraints that affect the companies in the business of sorbitol.
Roquette Frères, Cargill, ADM, Pfizer Inc, and Tate & Lyle are few of the key players in this market.
Investment in increasing sorbitol production, improvisation in the functionality of sorbitol are the key market trends that are driving the growth of this market.
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