The global sugar alcohol market was valued at USD 3.61 billion in 2019 and is anticipated to reach USD 9.07 billion by 2032, registering a compound annual growth rate (CAGR) of 7.13% during the forecast period, according to our analysis in this report. Additionally, the U.S. sugar alcohol market is expected to grow notably, achieving an estimated valuation of USD 1.75 billion by 2032, driven by increasing consumer preference for low-calorie and low-glycemic sugar alternatives. Europe held a dominant position in the sugar alcohol market, accounting for 32.41% of the market share in 2019.
Market growth is expected to be supported by the rising consumption of gum confectionery items, such as chewing gum. Polyols are commonly used as sugar substitutes in various food products. The majority of polyol production is consumed by the food and beverage sector, where bakery and confectionery segments hold the largest share. The demand for sugar-free products is rising due to fast-paced lifestyles, which is anticipated to further support market expansion.
Information Source: https://www.fortunebusinessinsights.com/sugar-alcohol-market-102956
Report Coverage
This market report delivers a thorough analysis of factors impacting growth, including major drivers, limitations, challenges, and opportunities. It provides detailed regional data, combining qualitative and quantitative insights, with a breakdown of contributions from multiple countries between 2020 and 2027. Furthermore, the report reviews the competitive environment, spotlighting key market participants and their strategies such as mergers, acquisitions, partnerships, and joint ventures, which are expected to foster industry growth.
Market Dynamics
Growth Drivers
Increasing Popularity of Gluten-Free Food Products
The rising global interest in gluten-free diets is driving demand for sugar alcohols. Gluten-free foods provide numerous health advantages, including improved cholesterol levels, enhanced digestion, greater energy, and weight control. This trend has encouraged companies to introduce new products catering to these consumer preferences. Glucose syrups containing polyols like maltitol and sorbitol are widely used in several regions, and the growing demand for gluten-free, corn-based glucose syrups is forecasted to accelerate market growth.
Regional Insights
Europe Leads Market Expansion with Strong Demand for Sugar-Free Confectionery
Europe is projected to retain its leadership position in the global sugar alcohol market, generating the highest revenue during the forecast timeframe. In 2019, the region represented a market share of USD 1.23 billion, propelled by increasing demand for sugar-free confectionery products. The preference for processed foods, driven by busy lifestyles, also contributes to the market’s growth.
North America: Key Market Driven by Increasing Diabetes Cases
North America is anticipated to be the second-largest regional market, primarily due to the growing prevalence of diabetes in the U.S. Moreover, the COVID-19 pandemic has accelerated market growth, as the surge in demand for hand sanitizers—many containing sugar alcohols—has boosted production.
Asia-Pacific to Experience Substantial Growth
The Asia-Pacific region is expected to witness considerable expansion, attributed to its large population and significant polyol production in countries like China and India. These factors, combined with rising demand for sugar substitutes, are predicted to propel market growth in this area.
Competitive Landscape
Industry Players Collaborate to Address COVID-19 Challenges
The market consists of a mix of small, medium, and large enterprises striving to enhance their market presence. During the COVID-19 pandemic, companies have formed strategic partnerships to tackle global challenges and help stabilize the economy.
Leading Companies in the Sugar Alcohol Market
- Archer-Daniels-Midland Co. (U.S.)
- Cargill Incorporated (U.S.)
- Ingredion Incorporated (U.S.)
- Roquette Frères (France)
- Tereos Starch & Sweeteners s.a.s (France)
- Tate & Lyle plc (U.K.)
- Pfizer Inc. (U.S.)
- Lonza Group (Switzerland)
- SPI Pharma (U.S.)
- Merck KGaA (Germany)
Tariff Impact Analysis for Sugar Alcohol Market: https://www.fortunebusinessinsights.com/enquiry/request-sample-us-tariff/sugar-alcohol-market-102956
Key Industry Developments
December 2023: Brandt’s, a leading U.S.-based manufacturer, launched Fenglihui Anjiachun, a novel sugar alcohol, in the Chinese market. This product will be distributed by Beijing Xinhefeng Agricultural Materials, marking a notable regional expansion.
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