According to a new report published by Allied Market Research, titled, “sugar alcohol market by type, form, and application: opportunity analysis and industry forecast, 2021–2027,” the global sugar alcohol market was valued at $3.3 billion in 2019, and is projected to reach $4.8 billion by 2027, registering a CAGR of 5.9% from 2021 to 2027. The market is expected to exhibit an incremental revenue opportunity of $1.3 billion from 2021 to 2027. Rise in demand for health consciousness and low-calorie food & beverage products propel the market growth. Moreover, rise in demand for sugar substitutes or alternatives due to consumer preferences shifting toward a healthier lifestyle is expected to drive growth of the global sugar alcohol market.
LIMITED-TIME OFFER – Buy Now & Get Exclusive Discount on this Report
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.
On the basis of type, the sorbitol segment accounted for 50.3% share in the global market in 2019. Sorbitol not only provides sweetening properties, but also texturing properties. It is an excellent humectant, softener, texturizing, and anti-crystallizing agent, hence has a wide range of applications across food & beverages, pharmaceuticals, and cosmetic industries. However, the mannitol segment is anticipated to grow at the highest CAGR during the forecast period. This is attributed to growth in applications of mannitol in the pharmaceuticals and nutraceuticals industry as a sweeting agent, tablet and capsule diluent, excipient for chewable tablets, a tonicity agent, and as a bulking agent for lyophilized preparations.
Request The Free Sample PDF Of This Report : https://www.alliedmarketresearch.com/request-sample/9387
On the basis of form, the powder & crystal segment was dominant in 2019 with 61.4% share in the sugar alcohol market. Powder & crystal form of sugar alcohol provides a longer shelf-life and enables easy handling, transportation, and storage. Hence, it is widely used in manufacturing of several food products, including candies, chewing gums, and bakery goods. However, the liquid & syrup segment is anticipated to grow at a faster rate during the forecast period. Liquid & syrup form of sugar alcohols provide high-water solubility, hence has growing applications in pharmaceuticals & nutraceuticals products.
On the basis of application, the food & beverages category was the dominant segment in 2019, with 40.2% global sugar alcohol market share. Sugar alcohols are mainly used to produce food and beverage products, owing to their sweetness and texturing properties. Recent technical advances have added to the range of sugar alcohols available for food use, hence expanded applications of these sugar replacers in diet and health-oriented foods. However, the pharmaceuticals segment is anticipated to grow at a faster rate during the sugar alcohol market forecast period.
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 and contribute to the growth of sugar alcohol market size.
To Get in-depth Information Connect to Analyst : https://www.alliedmarketresearch.com/connect-to-analyst/9387
Key findings of the study
- By type, the sorbitol segment was the highest contributor to the market, with $1,691.70 million in 2019, and is estimated to reach $2,350.4 million by 2027, at a CAGR of 5.50% during the forecast period.
- By form, the powder & crystal segment was the highest contributor to the market, with $2,063.7 million in 2019, and is estimated to reach $2,870.8 million by 2027, at a CAGR of 5.50% during the forecast period.
- By application, the food & beverages segment was the highest contributor to the market, with $1,350.9 million in 2019, and is estimated to reach $1,855.2 million by 2027, at a CAGR of 5.40% during the forecast period.
- In 2019, Europe region was the most prominent market however the Asia-Pacific region is expected to grow at a significant CAGR throughout the forecast period.
According to the sugar alcohol market analysis, the key players operating in the market 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.
Reasons to Buy this Sugar Alcohol Market Report:
> Mergers and acquisitions should be well-planned by identifying the best manufacturer.
> Sort new clients or possible partners into the demographic you’re looking for.
> Suitable for providing dependable and high-quality data and analysis to assist your internal and external presentations.
> Develop tactical initiatives by gaining a better grasp of the areas in which huge corporations can intervene.
> To increase and grow business potential and reach, develop and plan licencing and licencing strategies by finding possible partners with the most appealing projects.
> Recognize newcomers with potentially strong product portfolios and devise effective counter-strategies to acquire a competitive edge.
> To develop effective R&D strategies, gather information, analysis, and strategic insight from competitors
About Us
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
Web: www.alliedmarketresearch.com
Related Reports:
