Sorbitol is a kind of sugar alcohol which occurs naturally in plants and fruits and can also be manufactured synthetically from glucose. Due to its non-cariogenic and sweetening properties, sorbitol is used in the production of a wide range of products such as toothpastes, candies, ice-creams, syrups, jams, jellies, beverages, etc. Apart from this, it also works as a laxative by drawing water into the large intestine, thereby stimulating the bowel movements. A new research report by IMARC Group, titled “Sorbitol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the global sorbitol market reached a volume of more than 2.5 Million Metric Tons in 2018, growing at a CAGR of 2.1% during 2011-2018. The report further anticipates the market to exceed a volume of 2.8 Million Metric Tons by 2024.
Global Sorbitol Market Drivers/Constraints:
- One of the major factors driving the sorbitol market growth is the wide range of applications of sorbitol in diverse industries. It is used as an additive, sweetener and thickening agent in the food industry; bodying agent in textile, paper and pharmaceutical industries; moisturiser in cosmetic and personal care products, etc.
- Sorbitol is a low-calorie natural sweetener owing to which it is used as one of the key ingredients in dietary foods and beverages. Growth in the number of diabetes patients has increased the sales of food products containing sorbitol, thereby propelling the market growth. Further, increasing health awareness has contributed in attracting a larger consumer-base.
- Sorbitol is also used as a feedstock for manufacturing vitamin C. However, due to over production of vitamin C, the market has witnessed a decline in the recent years, leading to increased application in other segments.
- There are several factors that hamper the sorbitol market growth. Uncertain supply of raw material has caused fluctuation in the price of sorbitol, in turn, influencing the profitability of the manufacturers.
On the basis of application, pharmaceuticals account for more than a third of the total sorbitol market, representing the leading segment. Within this sector, the majority of sorbitol is used for manufacturing ascorbic acid. The pharmaceuticals segment is followed by toothpaste, food and beverages, cosmetics and toiletries, and industrial surfactants.
The market has also been divided on the basis of type into liquid and powder sorbitol. Currently, liquid sorbitol accounts for the majority of the total sales, representing the leading segment. This is due to its ability to bind water molecules and stabilize the mass in various personal care products, cosmetics, foods and beverages.
Based on feedstock, the market has been segmented into corn, cassava and wheat. Amongst these, corn is the most popular feedstock, acconting for the largest market share.
On a geographical front, China enjoys the leading position in the global sorbitol market on account of its high demand in the region. China is followed by the United States, Western Europe, Indonesia and India.
The global sorbitol market consists of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
- Roquette Frères SA
- Cargill, Incorporated (Excluding Sorini)
- Ingredion, Incorporated
- Archer Daniels Midland Company
- Shandong Tianli Pharmaceutical Co., Ltd.
- PT Sorini Agro Asia Corporindo Tbk
- Kasyap Sweetners
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