May 22, 2024
Sorbitol Market

The Growing Global Sorbitol Market is Trending by Increasing Demand for Sugar Alternatives

The global sorbitol market is primarily driven by the increasing demand for low-calorie sugar substitutes across various end-use industries such as food & beverage, personal care, pharmaceuticals, and others. Sorbitol is widely used as a humectant in toothpaste, mouthwash, and chewing gum. It promotes freshness and moisture in these products. Sorbitol possesses properties like non-cariogenicity, low-calorie content, and Sweetness that make it suitable for use in various food & beverage applications as a sugar substitute.

The Global Sorbitol Market is estimated to be valued at US$ 1.89 Bn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Sorbitol Market Demand are American International Foods, Inc., ADM, Cargill Incorporated, DuPont, Gulshan Polyols Ltd., Merck KGaA, Ecogreen Oleochemicals GmbH, Qinhuangdao Lihua Starch Co., Ltd., Roquette Frères, SPI Pharma, Tereos, Ingredion Incorporated, Kasyap Sweeteners, Ltd., Vizag Chemicals, CDH Fine Chemical, Gayatri bioorganics, and Silverline Chemica. The growing demand for low-calorie sugar substitutes from the food & beverage industry is one of the major factors driving the growth of the global sorbitol market. Key players are expanding their production facilities globally to cater to the growing demand for sorbitol.

The global sorbitol market is anticipated to witness significant growth over the forecast period attributable to increasing health awareness among consumers and growing demand for sugar-free and low-calorie products. Moreover, the rising prevalence of diabetes and obesity worldwide is augmenting the demand for sugar substitutes like sorbitol in various food applications. Furthermore, advancements in sorbitol production technologies are helping key players to reduce production costs and ensure high-quality products.

Market Key Trends

The widespread application of sorbitol as a sweetener, thickener, stabilizer, softener, and humectant in various industrial and household products is one of the key trends in the global sorbitol market. Sorbitol finds usage as an excipient in pharmaceutical products owing to its solubility, stability, availability, and low- toxicity. This trend of using sorbitol as an excipient in oral and other drugs is expected to drive market growth over the forecast period. Additionally, the growth of specialized sorbitol grades such as liquid sorbitol, powdered sorbitol crystals, and crystalline sorbitol for specific applications in the food & beverage, personal care, chemical and other industries, will further support the market expansion.

Porter’s Analysis

Threat of new entrants: Low capital requirements and established distribution channels lower entry barriers. However, incumbents hold advantages of scale, brand recognition, and customer loyalty.

Bargaining power of buyers: Many large buyers exist which gives them higher negotiating power to influence pricing. Buyers can also switch to substitute products like glucose or maltitol if prices increase significantly.

Bargaining power of suppliers: A handful of companies control global supply which gives them strong influence over prices. Supply shortages can impact production costs for buyers.

Threat of new substitutes: Other polyols like maltitol and xylitol are substitutes for certain applications. Ongoing R&D could increase substitute options.

Competitive rivalry: Market dominated by large multinational companies. Competition intensifies on basis of quality, reliability, pricing and customer service.

Geographical regions

Asia Pacific accounts for around 50% of global sorbitol market value due to large demand from food & beverage and pharmaceutical industries in China, India and other Asian countries.

Europe’s sorbitol market is growing at highest CAGR during forecast period mainly due to strong demand from personal care, food & beverage sectors in Germany, UK, France and Italy where production of respective end use products is increasing.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it