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Market Scenario:Market Research Future (MRFR) confirms in its report that the global sorbitol market is projected to witness unwavering growth during the forecast period (2016-2023). To summarize, sorbitol is a sweet tasting sugar alcohol produced by the reduction of glucose. Sorbitol offers properties such as sweet flavor, cooling effect, non-cariogenic, enhanced compressibility, low calorie, and filler among others, which makes it highly popular in many end-user industries. It one of the major products used in a wide range of personal care goods such as toothpaste, skin care, hair care, shaving creams, and soaps among others. Growth in number of diabetes patients, increasing health awareness, and extensive demand from various industries stimulate the global market growth. Also, due to its moisture-stabilizing action, it is used in products that harden faster, thus, maintaining freshness during storage. Sorbitol can also withstand high temperatures which is highly favorable in extreme weathers around the world. Elevating incomes and strong economy help the market gain traction in various regions, primarily in developed nations.
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However, potential side effects due to sorbitol like nausea, dry mouth and vomiting can pose a threat to the market growth. Despite the threats, the sorbitol market is set to grow further due to increasing price of sugar, thus resulting in high demand for sorbitol. A trend making its way into the sorbitol market is soap containing sorbitol. Glycerin soaps use sorbitol as it is less expensive than actual glycerin and help retain moisture in the skin.
Global Key Players
The key players functioning in the sorbitol market are Tereos Starch & Sweeteners (France), Archer Daniel Midland (U.S.), Ecogreen Oleochemicals Pte. Ltd (Singapore), Merck Group (Germany), Daisco (japan), and others.
Roquette is developing an innovative range of high-performance products for the cosmetics market called “Beauté by Roquette”. The new range was launched at the In-Cosmetics exhibition in Amsterdam and is also being shown at In-Cosmetics Korea in Seoul. Beauté by Roquette PO 160 is a high pure sorbitol powder that provides a sweet flavour on the lips and is used in oral care.
Market Segmentation
The Sorbitol Market is segmented on the basis of function, type, end user, and region.
By function, the market is segmented by sweetener, bulking agent, and flavoring agent. The sweetener market is on the rise globally due to changing lifestyle and growing health concerns.
By type, the market is segmented by liquid and crystal. The liquid type has been the leading segment in 2016 and will continue to grow during the forecast years. The growing use of liquid sorbitol in various applications particularly in personal care products and simplified production of liquid sorbitol contributes to the growth of the segment. Moreover, low cost of liquid form also propels its demand globally.
The end-use industries of the global sorbitol market are food & beverage, pharmaceuticals, cosmetics & personal care, chemicals, and others. Sorbitol is a major source of vitamin C and is extensively used in personal care goods such as toothpaste, skin care, hair care, shaving creams, and soaps among others. On the other hand, its low-calorie content finds major applications in the food and beverage industry.
Regional Analysis
Geographically, the sorbitol market is spread across Europe, Latin America, Asia Pacific, North America and the Middle East & Africa.
Among all regions, the Asia Pacific region has the largest market and is anticipated to flourish further at a steady CAGR during the forecast period. This growth can be attributed to constantly developing end-use industries in the region. Furthermore, growth of food and beverage industry and growing demand for cosmetic & personal care products trigger the upward climb of the market in the region. In addition, it’s been observed that there has been growing consciousness amongst the population about the health benefits of sorbitol resulting in demand for sugar-free food and beverages which further fuels the market growth. Also, growing disposable income, rapid urbanization, high prevalence of diabetes, and heavy production of sorbitol in the region bestows significant opportunities for sorbitol manufacturers in this region.
MRFR estimates that the North America market will grow steadily during the forecast period. The established personal care and food & beverage industry drive the market immensely in the region. Apart from this, the fast-paced lifestyle and vast working population propel the demand for convenience food, leading to market surge. The United States and Canada in the North America region contribute heavily to the market.
The Europe market has been surging rapidly due to developed personal home care industries that make use of sorbitol in their products. The major countries responsible for this growth are Germany, Italy, and the U.K among others. This penetration of sorbitol in this region is due to the growth of cosmetic and personal care industry, growing consumption of functional food, focus on living a healthy lifestyle, and surging health & wellness trend.
The Middle-East and Africa regions have exhibited constant growth during the forecast period owing to production of sorbitol using continuous process technology as well as production of sorbitol from cellulose. Huge potential in the regions is observed due to improving economy and escalating urbanization over the past years.
The market for sorbitol in Latin America is presumed to prosper on account of favorable government initiatives. Significant investments and growth opportunities for manufacturers in the region also propel the market growth.
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