The global sugar alcohol market was valued at USD 3.61 billion in 2019 and is projected to reach USD 9.07 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.13% over the forecast period. In the United States, the sugar alcohol market is poised for significant growth, with an estimated market size of USD 1.75 billion by 2032. This growth is fueled by a rising consumer inclination toward low-calorie and low-glycemic sweetener options. Europe dominated the market in 2019, accounting for a 32.41% share.
The increasing demand for sugar-free chewing gum and other confectionery products is expected to be a key driver of market growth. Sugar alcohols, or polyols, are commonly used in the food industry as sugar substitutes. The food and beverage segment—especially bakery and confectionery—constitutes the largest consumer base for polyols. Moreover, the preference for convenient, health-oriented food items is supporting the broader expansion of sugar-free offerings.
Information Source: https://www.fortunebusinessinsights.com/sugar-alcohol-market-102956
Report Coverage
This report provides a detailed evaluation of the key factors shaping the sugar alcohol market, including drivers, constraints, challenges, and growth opportunities. It presents both qualitative and quantitative analyses across several countries from 2020 to 2027, along with regional insights. Additionally, it reviews the competitive landscape, highlighting major players and strategic activities such as mergers, acquisitions, partnerships, and joint ventures that are expected to influence market trends.
Key Growth Factors
Growing Demand for Gluten-Free Products
The global shift toward gluten-free diets is significantly boosting the demand for sugar alcohols. Gluten-free foods are associated with health benefits like better digestion, improved cholesterol levels, weight control, and increased energy. In response to these trends, companies are launching new products to align with consumer needs. Glucose syrups that incorporate polyols such as sorbitol and maltitol are widely adopted, and the growing appeal of gluten-free, corn-derived glucose syrups is anticipated to fuel market expansion.
Regional Insights
Europe: Dominant Market with Rising Demand for Sugar-Free Products
Europe is projected to maintain its leading position in the sugar alcohol industry, with the highest revenue contribution over the forecast period. In 2019, the region recorded USD 1.23 billion in market value, largely driven by the growing appetite for sugar-free confectionery. The increasing popularity of processed and convenience foods also supports market growth in this region.
North America: Growing Market Influenced by Diabetes Trends
North America is expected to be the second-largest market, with growth driven by the increasing incidence of diabetes, particularly in the U.S. The COVID-19 pandemic has also played a role in expanding the market, especially due to the rise in hand sanitizer consumption—many of which include sugar alcohols in their formulations.
Asia-Pacific: Emerging Growth Opportunities
Asia-Pacific is anticipated to exhibit strong growth potential due to its large population base and the presence of key polyol producers in countries like China and India. Rising health consciousness and demand for alternative sweeteners are likely to further accelerate market growth in the region.
Competitive Landscape
Strategic Collaborations Amid COVID-19
The market comprises a combination of small, mid-sized, and large firms aiming to strengthen their competitive position. In response to challenges brought on by the COVID-19 pandemic, many companies entered into strategic partnerships to stabilize operations and support economic recovery.
Key Market Players
- 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)
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Recent Industry Developments
- December 2023: U.S.-based Brandt’s introduced Fenglihui Anjiachun, a new sugar alcohol product, into the Chinese market. The product will be distributed through Beijing Xinhefeng Agricultural Materials, marking a significant expansion into Asia.
