Global Sorbitol Market to Surpass $2.39 Billion by 2030

Deeya5220

posted on 3 months ago — updated on 1 second ago

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Global Sorbitol Market to Surpass $2.39 Billion by 2030

Explore $2.39 billion Sorbitol Market: Get exclusive insights on key market trends, segments, geographical analysis, & competitive analysis!

Meticulous Research® has published an in-depth report titled, ‘Sorbitol Market Size by Form (Powder, Liquid), by Function (Sweetener, Humectant, Bulking Agent, Flavoring Agent), by Application (Food & Beverage, Pharmaceuticals, Personal Care) - Global Forecast to 2030’.

Download Sample Report Here: https://www.meticulousresearch.com/download-sample-report/cp_id=3019

The report forecasts that the global sorbitol market will grow at a CAGR of 3.4% from 2023 to 2030, reaching a market size of $2.39 billion by 2030. This growth is driven by rising consumer demand for low-calorie and health-oriented food products, increasing health concerns associated with sugar consumption, expanding applications in the pharmaceutical industry, and the rapid growth of the personal care and cosmetics market. Moreover, emerging markets present significant opportunities for sorbitol manufacturers to expand their operations. However, challenges such as potential side effects from excessive sorbitol consumption and stringent regulatory standards may impede market growth.

The global sorbitol market is segmented by form, function, application, and geographic region. The report also provides a comprehensive analysis of the competitive landscape at the country level.

In terms of form, the global sorbitol market is divided into syrup/liquid and powder/crystal segments. The liquid segment is expected to account for the largest market share in 2023, due to its ease of use, better handling, and transport capabilities, as well as its wide range of applications. This segment is also projected to achieve the highest CAGR during the forecast period, owing to its superior functional properties, such as excellent flow properties and uniform mixing concentration, which are critical for maintaining the consistent weight of pharmaceutical and cosmetic products.

When segmented by function, the global sorbitol market is categorized into sweeteners, humectants, bulking agents, flavoring agents, and other functions. The sweetener segment is anticipated to hold the largest market share in 2023, driven by the growing preference for low-calorie products, high demand for convenience and processed foods, and a rising inclination towards natural products. This segment is also expected to register the highest CAGR during the forecast period.

Based on application, the global sorbitol market is segmented into personal care, food and beverage, pharmaceuticals, and other applications. The personal care segment is expected to dominate the market in 2023, driven by the increasing demand for sorbitol in personal care products. This demand is fueled by sorbitol’s multifunctionality as a humectant, thickener, and flavoring agent, along with the growing use of organic cosmetic products and high demand for skincare solutions. This segment is also forecasted to register the highest CAGR during the forecast period, driven by rising consumer spending on personal care products, heightened awareness about personal appearance, and growing demand for innovative skincare products.

Geographic Review

Geographically, Asia-Pacific is expected to account for the largest share of the global sorbitol market in 2023. The region’s dominance is attributed to the high availability of raw materials, a growing base of health-conscious consumers, and a rapidly evolving food and beverage sector. Additionally, the Asia-Pacific region is expected to experience the fastest growth during the forecast period, driven by increased investments in the personal care sector and rising purchasing power parity.

Key Players

The key players operating in the global sorbitol market are Roquette Frères S.A. (France), Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), Archer Daniels Midland Company (U.S.), SPI Pharma, Inc. (U.S.), Sayaji Industries Limited (India), Gulshan Polyols Limited (India), ECOGREEN OLEOCHEMICALS (SINGAPORE) PTE LTD (Singapore), Merck Group (Germany), The Sukhjit Starch & Chemicals Ltd (India), B Food Science Co. Ltd (Japan), and Mitsubishi Corporation (Japan).

Key questions answered in the report-

Which are the high-growth market segments in terms of form, function, application, and geography?
What is the historical market of sorbitol across the globe?
What are the market forecasts and estimates for 2023–2030?
What are the major drivers, restraints, challenges, opportunities, and trends in the global sorbitol market?
Who are the major players in the global market, and what market share do they hold?
Who are the major players in various countries, and what market share do they hold?
How is the competitive landscape?
What are the recent developments in the global sorbitol market?
What are the different strategies adopted by the major players in the market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the global sorbitol market, and how do they compete with the other players?