The global sugar alcohol market was valued at $3,360 million in 2019, and is projected to reach $4,800.4 million by 2027, registering a CAGR of 5.9% from 2021 to 2027.
Sugar alcohol Market by Type (Sorbitol, Xylitol, Mannitol, Maltitol, Isomalt, and Others), Form (Powder & Crystal and Liquid & Syrup), and Application (Food & Beverages, Pharmaceuticals, Cosmetics & Personal Care, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027
Consumer consciousness regarding health impact of artificial sugar substitutes have led to rise in demand for sustainable and low-calorie alternative sweeteners. Biomass derived sugar alcohols have numerous applications including oral hygiene, pharmaceutical industries, and food containing sugar alcohols, hence these products are increasingly available on supermarket shelves. Expansion of applications of sugar alcohols across industries also propels the market for sugar alcohol.
Growth in adoption of low-calorie and sugar-free food products, owing to rise in consumer health consciousness is one of the crucial factors that drive growth of the global sugar alcohol market. In addition, rise in prevalence of health-related issues caused due to consumption of sugar has created demand for low- and reduced-calorie sweeteners.
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Rise in consumption of nutraceuticals among consumers in the form of functional foods, dietary supplements, and functional beverages fuel the sugar alcohol market growth. This is attributed to the fact that polyols are used in numerous pharmaceutical and nutraceutical products, owing to their coating, sweetening, emollient, bulking, anti-crystallizing, and stabilizing properties. Furthermore, sugar alcohols combine synergistically with other low-calorie sweeteners to provide a more balanced sweetness, which is comparable to sugars. Hence, owing to these unique properties, polyols are used in a number of food applications. However, high cost of production as compared to sugar is anticipated to hinder the growth of sugar alcohol market.
COVID-19 was declared a pandemic by the WHO in the earlier half of 2020. The coronavirus outbreak has significantly impacted not only various food & beverages industries but also all stages of the supply chain and value chain of various industries. It has affected the supply chain ecosystem, raw material suppliers, logistics partners, and several others. Therefore, the COVID-19 pandemic had a partial negative impact on the sugar alcohol industry. Moreover, demand for low-calorie healthy food products and nutraceuticals is anticipated to grow exponentially in the short term. Hence, gradual relaxation of restrictions on social distancing and free movement is anticipated to generate positive avenues for the market. Furthermore, the sugar alcohol market is expected to be optimistic for gradual recovery.
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Segment Review:
According to the global sugar alcohol market report, the market is segmented on the basis of type, form, application, and region. On the basis of type, the market is categorized into sorbitol, xylitol, mannitol, maltitol, isomalt, and others. By form, it is classified into powder & crystal and liquid & syrup. Depending on application, it is distributed into food & beverages, pharmaceuticals, cosmetics & personal care, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of region, Europe was the prominent sugar alcohol market in 2019, with 38.9% of the market share. This was attributed to tremendous popularity and substantial consumption of low-calorie food & beverages in the region. However, Asia-Pacific is expected to witness a significant CAGR during the forecast period.
Major Players:
According to the global sugar alcohol market analysis, the key players operating include Cargill Incorporated, Spectrum Chemical Manufacturing Corp., Ingredion Incorporated, Archer Daniels Midland Company, Roquette Freres SA, Mitsubishi Shoji Foodtech Co. Ltd, Tate & Lyle PLC¸ Atlantic Chemicals Trading GmbH, Associated British Foods plc (SPI Pharma), and DuPont.
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Key Benefits For Stakeholders
The report provides a quantitative analysis of the current sugar alcohol market trends, estimations, and dynamics of the market size from 2021 to 2027 to identify the prevailing opportunities.
Porter’s five forces analysis highlights potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
In-depth analysis, sugar alcohol market size, and segmentation assist in determining the prevailing opportunities.
The major countries in each region are mapped according to their revenue contribution to the market.
The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the sugar alcohol industry.
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