- Increasing inclination towards organic personal care products is one of the significant factors influencing sorbitol market growth
- Market Size – USD 1.38 Billion in 2019, Industrial growth - CAGR of 5.7%, Market Trends – Rising health issues owing to sugar consumption
NEW YORK, Oct. 30, 2020 /PRNewswire/ -- The Global Sorbitol Market is expected to reach USD 2.18 Billion by 2027. Increasing inclination towards organic cosmetic products is anticipated to drive industrial growth. Sorbitol is used in cosmetics as a humectant as well as a thickening agent, among others. As a humectant ingredient, it checks the moisture loss by drawing water from the air through osmosis, therefore maintaining both the skin and the hair's moisture level. Moreover, it is also commonly used in gel products, owing to its capacity to retain moisture. It is used widely in cosmetics as a thickening agent due to its ability to give favored features such as consistency, viscosity, or adhesion to the products.
The surging growth of the food & beverage sector is playing a significant role in boosting industrial demand. Sorbitol also finds usage in the making of baked goods, confectionery, and chocolate, wherein the manufactured goods tend to harden or become dry owing to their property to retain the product's moisture content. Its moisture-stabilizing features help maintain the initial freshness of manufactured goods during storage, thereby increasing their shelf life. Additionally, sorbitol is highly stable as it can bear high temperatures. It is compatible with other food ingredients, including sugars, gelling agents, proteins, and vegetable fats, as well as other kinds of sweeteners.
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Furthermore, the increasing demand for sorbitol in personal care products is expected to impact industrial growth. It is mostly used in toothpaste and mouthwash products as a moistener as well as a binding agent.
The COVID-19 Impact:
COVID-19 is expected to have a moderate impact on the industry. Global production has suffered immensely due to the imposition of social distancing and other lockdown restrictions. With most economies, particularly in the Asian region, crippled, the industry is projected to witness disruption in the supply chain. COVID-19 can affect the global economy in three main ways: by creating supply chain and market disruption, by directly affecting production and demand, and by its financial impact on firms and financial markets. With the ease of restrictions and government initiatives to start economic activities, countries can hope for the industry's imminent recovery.
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Further key findings from the report suggest
- By product type, the liquid sorbitol segment contributed to a larger share in 2019 and is expected to grow at a rate of 6.1% during the forecast period. The high market demand for liquid sorbitol is due to its increasing demand as a sweetener in the food & beverage and pharmaceutical industries. Besides, the economical manufacturing cost and ease-of-use of this product type are responsible for its high sectoral share.
- By application, direct application held the largest market share in 2019 and is projected to grow at a 5.1% rate during the forecast period.
- By end-use, the food & beverage industry dominated the industry in 2019 and is forecast to experience a growth rate of 5.4% in the period. Sorbitol also finds great application in the food & beverage industry as a sweetener, humectant, and bulking agent, among others.
- The North American region accounted for the second-largest market share in 2019 and is projected to grow at a rate of 5.0% in the forecast period. The demand for sorbitol in North America is attributed to the growing awareness about dietary supplements and their nutritional advantages among the consumer base in the region.
- Key participants include America International Foods Inc., Archer Daniels Midland, DuPont, Cargill Inc., Merck KGaA, SPI Pharma, Roquette Frères, Tereos Starch & Sweeteners, Ecogreen Oleochemicals Pte. Ltd., and Gulshan Polyols Ltd., among others.
For the report, Reports and Data has segmented the Sorbitol Market based on product, function, application, end-use, and region as follows:
Product Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
- Liquid/ Syrup
- Powder/ Crystal
Function Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
- Bulking Agent
- Flavouring Agent
Application Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
- Direct Application
- Indirect Application
End-Use Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
- Personal care
- Oral Care
- Chewing Gums
- Mouth Fresheners
- Skin Care
- Hair Care
- Colour Cosmetics
- Ascorbic Acid (Vitamin C)
- Food & Beverages
- Bakery Products
- Biscuits & Cookies
- Confectionery Products
- Jams & Preserves
- Processed Food
- Dairy & Frozen Dessert
- Diabetic & Dietetic Food
- Diet Soda
- Fruit Juices & Syrups
- Counter Medicine
- Direct Compression
- Wet and Dry Granulation
- Capsules and Sachets
- Creams and Emulsions
- Medicated Confectionery
- Hard Boiled Candies/Lozenges
- Medicated Chewing Gums
Regional Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
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