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Sugar Alcohol Market Size to Hit USD 6.70 Billion by 2027; Backed by Growing Demand for Sugar-free Products Worldwide

June 11, 2020 | Food & Beverages

The global sugar alcohol market size is expected to gain momentum by exhibiting a promising CAGR of 7.75% between 2020 and 2027. Furthermore, it is projected to reach USD 6.70 Billion by 2027, according to the information published by Fortune Business Insights, in its latest report, titled “Sugar Alcohol Market Size, Share & COVID-19 Impact Analysis, By Type (Sorbitol, Xylitol, Maltitol, Erythritol, and Isomalt), Application (Food and Beverages, Pharmaceuticals, and Cosmetics and Personal Care), and Regional Forecast, 2020 – 2027.” The report further observes that the market was worth USD 3.61 Billion in 2019 and is likely to rise owing to increasing demand for sugar-free products across the globe.


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Ingredion Launches Novel Sugar Substitute Sourced from Erythritol


In May 2020, Ingredion, a leading ingredients solution company, introduced its new sweetener, Erysta that is sourced from an erythritol polyol. According to the company claims, the new sweetener will enable the manufacturers to reduce the sugar content across several applications. Furthermore, the Erysta sweetener provides functional sweetness for products such as ice cream, chocolates, desserts, and confectionaries, among others in the absence of sugar. Moreover, the company says that the sweetener maintains the taste and texture of the products to cater to the evolving taste of the consumers. Ingredion along with several other companies operating in the market are striving to gain major chunk of the market by launching innovative food products to cater to the increasing demand for healthy processed food products.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/sugar-alcohol-market-102956


Increasing Prevalence of Diabetes to Stoke Demand


According to the information provided by the International Diabetes Federation (IDF), in 2019 it is estimated that about 463 Million adults were suffering from diabetes, which is projected to rise to 700 Million by 2045. Increasing cases of diabetes across the globe is propelling the demand for healthy food products minus the sugar content. Awareness among the population to consume less-calorie food products is spiking the demand for nutritive sugar alternatives such as the Sugar Alcohol. The natural sweeteners are being preferred over their artificial counterparts that has caught the attention of manufacturers to introduce innovative food products that are labelled as sugar-free to attract the attention of consumers.


COVID-19 to Boost the Demand for Hand-Sanitizers


The novel coronavirus, COVID-19 that has brought the world economy to a standstill, is witnessing a surge in demand for hand-sanitizers. This development is anticipated to bode well for the market in the near future. For instance, ethanol along with Sugar Alcohol are the major ingredients used in the production of hand-sanitizers. Increasing demand for hand-sanitizers to combat the deadly pandemic is driving the market growth.


Prime Focus on Product Development by the Companies to Aid Growth


Fortune Business Insights states in its report that the market is highly organized with several companies striving to strengthen its position among the fierce competition. Adoption of strategies such as novel product launches, merger and acquisition, and product expansion offerings by the companies to gain maximum market share will bode well for the market growth between 2020 and 2027.


List of the Companies Operating in the Market:



  • Archer-Daniels-Midland Co. – Illinois, U.S.

  • Cargill Incorporated – U.S.

  • Ingredion Incorporated – U.S.

  • Roquette Frères - France

  • Tereos Starch & Sweeteners s.a.s - France

  • Tate and Lyle plc – U.K.

  • Pfizer Inc. – U.S.

  • Lonza Group - Switzerland

  • SPI Pharma – U.S.

  • Merck KGaA – Germany


Further Report Findings:



  • Europe registered a market value of USD 1.23 billion in 2019 and is likely to rise exponentially by gaining maximum global sugar alcohol market revenue during the forecast period. This is ascribable to factors such as increasing awareness among the population regarding the ill effects of consuming sugar-laced products. Additionally, increasing numbers of smokers in countries such as Russia will contribute to the massive growth of the market in the region.

  • The market in North America is expected to be the second-most leading region in the forthcoming years. This is attributable to increasing prevalence of patients suffering from chronic disease in the U.S.

  • The segment Sorbitol (By Type) held the largest market share of 35.41% in 2019. Factors such as high demand for sorbitol in production of sugar-free chewing gums will positive influence the growth of the market.

  • The segment food & beverage sector (By Application) is anticipated to register massive growth owing to growing demand for confectionary products across the globe.


Table of Segmentation:








































 ATTRIBUTE



 DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Billion)



Segmentation



By Type



  • Sorbitol

  • Xylitol

  • Maltitol

  • Erythritol

  • Isomalt



By Application



  • Food and Beverages

  • Pharmaceuticals

  • Cosmetics and Personal Care

  • Others



By Region



  • North America (the U.S., Canada, and Mexico)

  • Europe (U.K., France, Italy, Spain, Germany, Russia, and the Rest of Europe)

  • Asia-Pacific (China, India, Japan, Australia, and the Rest of Asia- Pacific)

  • South America (Brazil, Argentina, and the Rest of South America)

  • The Middle East & Africa (South Africa, UAE, and the Rest of the MEA)


Sugar Alcohol Market
  • PDF
  • 2019
  • 2016-2018
  • 150

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