2030 Forecast: Sorbitol Market to Achieve $2.39 Billion

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2030 Forecast: Sorbitol Market to Achieve $2.39 Billion

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

A detailed report by Meticulous Research®, 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’, explores the dynamics of the global sorbitol market.

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According to the report, the global sorbitol market is projected to grow at a CAGR of 3.4% from 2023 to 2030, reaching a market size of $2.39 billion by the end of the forecast period. The market’s growth is driven by an increasing demand for low-calorie, health-oriented food products, rising health concerns related to sugar consumption, expanding pharmaceutical applications, and rapid growth in the personal care and cosmetics industry. Additionally, emerging markets provide significant opportunities for sorbitol manufacturers. However, the market faces certain challenges, including potential side effects from overconsumption of sorbitol and stringent regulatory standards that may impede market expansion.

The report segments the global sorbitol market by form, function, application, and geographic region, and also provides an in-depth analysis of the competitive landscape at the country level.

In terms of form, the global sorbitol market is divided into liquid (syrup) and powder (crystal) segments. The liquid segment is expected to dominate the market in 2023 due to its ease of use, better handling, and a wide range of applications. This segment is also anticipated 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 crucial for maintaining the consistent weight of pharmaceutical and cosmetic products.

When categorized by function, the global sorbitol market is segmented into sweeteners, humectants, bulking agents, flavoring agents, and other functions. The sweetener segment is projected 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 an increasing 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 anticipated to dominate the market in 2023, driven by the increasing demand for sorbitol in the personal care industry. 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 products. 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 of personal appearance, and growing demand for innovative skincare solutions.

Geographic Review

Regionally, Asia-Pacific is expected to dominate the global sorbitol market in 2023, holding the largest market share. The region’s dominance is due to the high availability of raw materials, a growing base of health-conscious consumers, and a rapidly evolving food and beverage sector. Moreover, 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 among consumers.

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?