Sorbitol Market Analysis, Shares, Size, Research, and Forecast 2023 to 2030

Comments · 42 Views

Additionally, the trend of shifting production capacities to the Asia Pacific due to low production and labor costs has resulted in low costs for sorbitol, therefore causing rising demand for non-food applications.

The global sorbitol market size was valued at USD 1.66 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.7% from 2023 to 2030. The market is expected to witness significant growth over the forecast period owing to the rising usage of diabetic and dietetic food and beverages. The growing product demand as a substitute for sugar in consumer food products is also expected to drive demand for the product over the next few years. Sorbitol is also increasingly being used in oral care products as it is metabolized at a slower rate as compared to other sugar alcohols, preventing dental problems such as cavities and tooth decay. The benefits of the same are expected to propel industry growth over the forecast period. Additionally, the trend of shifting production capacities to the Asia Pacific due to low production and labor costs has resulted in low costs for sorbitol, therefore causing rising demand for non-food applications.

 

The major driver for the market is the growing demand from the food and beverage industry for nutritive sweeteners. Approval from safety regulatory and human health bodies such as the FDA and the U.S. Department of Agriculture (USDA) for the use of the product in medicines and bakery foods is expected to further drive the market in the U.S. In addition, sorbitol also finds application as a humectant in pharmaceutical products, thereby fueling the growth of the product in the country due to the presence of one of the biggest pharmaceutical industries. As a result, the demand for sorbitol is also anticipated to increase over the forecast period.

 

Sorbitol Market Report Highlights

 

  • By product, liquid accounted for the largest share in terms of revenue as well as volume in 2022. The product is preferred over other substitute products as it is non-carcinogenic and has a pleasant and sweet taste
  • The crystal product segment is expected to expand at the highest growth rate over the forecast period. Crystal sorbitol is used as a plasticizer in the manufacturing of capsule outer shell and as an excipient and filler in the production of pharmaceutical capsules
  • The vitamin C application segment is expected to register the highest growth rate over the forecast period owing to its increasing use in functional foodsand dietary supplements
  • The food end-use segment held the largest market share in terms of revenue and volume in 2022. The food processing industry across the world is expected to witness a boost in sales owing to the increased consumer preferences in terms of variety of products as well as quality
  • Companies operating in the market are continuously involved in the enhancement of the quality of products and the companies keep introducing new products with advanced features that are competitive in both performance and prices

 

 

Browse through Grand View Research's Category Food Additives Nutricosmetics Industry Research Reports.

 

  • The global cresol market size was valued at USD 731.6 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2030. 
  • The global specialty ingredients marketsize was valued at USD 142.5 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2030. 

 

 

Segments Covered in the Report

 

Grand View Research has segmented the global sorbitol market report based on product, application, end-use, and region:

 

Sorbitol Product Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

 

  • Liquid
  • Crystal

 

Sorbitol Application Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

 

  • Oral Care
  • Vitamin C
  • Diabetic Dietetic Food Beverages
  • Surfactant
  • Others

 

Sorbitol End-use Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

 

  • Personal Care
  • Chemical
  • Food
  • Pharmaceutical
  • Others

 

Sorbitol Regional Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

 

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Thailand
  • Central South America
    • Brazil
  • Middle East Africa
    • Saudi Arabia

 

 

Order a free sample PDF of the Market Intelligence Study, published by Grand View Research.

 

Comments