Sorbitol Market’s Projected Value of $2.39 Billion by 2030

December 2, 2024

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Meticulous Research® has published a comprehensive 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’.

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

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

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

When categorized by function, the global sorbitol market is divided 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 toward natural products. This segment is also expected to achieve the highest CAGR during the forecast period.

Regarding application, the global sorbitol market is divided 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 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 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 about personal appearance, and growing demand for innovative skincare solutions.

Geographic Review

Geographically, Asia-Pacific is expected to account for the largest share of the global sorbitol market in 2023. This 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?