The global sorbitol market will grow at a CAGR of 3.9% from 2017 to 2022 to reach USD 1,585.4 million by 2022, according to this latest publication from Meticulous Research®. The global sorbitol market driven by the growing health issues due to consumption of sugar-based products, expansion of middle-class population and increased urbanization, increasing demand from Asia-Pacific region, and growing demand from cosmetic and personal care industry. Moreover, “all natural” and “clean label” trends within the food and beverage markets, rising consumer demand for low-calorie and healthy food products, and increasing prevalence of diabetes have embraced the growth of sorbitol market globally. However, various side effects due to over consumption of sorbitol, and stringent regulations and international quality standards for sorbitol challenge the growth of the sorbitol market to some extent.
The global sorbitol market is mainly segmented by function (sweetener, humectant, bulking agent, flavoring agent, and others), by form (solid and liquid), by applications (food & beverages, pharmaceuticals, cosmetics & personal care, and others), and by geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
Asia Pacific holds the major share in the global sorbitol market, followed by North America, and Europe. This penetration of sorbitol in this region is further expected to grow primarily due to the growth of cosmetic and personal care industry, increased consumption of functional food, growing desire to live a healthy lifestyle, and growing health & wellness trend. Further, increasing disposable income, rapid urbanization, increasing prevalence of diabetes, and increased production of sorbitol in the region provides significant opportunities for the sorbitol providers in this region.
The leading companies have employed various strategies to expand their product and application offerings, global footprint, and augment their market share. The key players in the global sorbitol market are Roquette Freres le Romarin., Cargill Incorporated, Ingredion Incorporated, Archer Daniels Midland Company, SPI Pharma, Sayaji Industries Limited, Glushan Polyols Ltd., Ecogreen Oleochemicals, Merck group, Sukhjit Group, Tereos, B Food Science Co. Ltd, and Mitsubishi Corporation.
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