The Sorbitol Market size is estimated to reach US$2.3 billion by 2027, after growing at a CAGR of 5.2% during the forecast period 2022-2027. The use of sorbitol in food and beverages has increased significantly. Due to its non-carcinogenic, humectant and moisture-stabilizing qualities, sorbitol is frequently used as a texturizer in baked food products, confectioneries, chocolates and other notable products. In the food industry, it is also widely used as a sugar alcohol and sweetener. Growing product demand as a sugar substitute in consumer food products is expected to drive the demand for sorbitol during the forecast period. According to Department for Environment Food and Rural Affairs, the food industry in the UK grew by 49.4% between 2009 and 2019.
Sorbitol Market: Food & Beverages Segment Leads the Market
On the basis of the end-use industry, the sorbitol market can be segmented into food & beverages, personal care & cosmetics and others. The leading segment in the sorbitol market has been evaluated to be food & beverages. During the forecast period 2022-2027, the food & beverages segment is expected to grow with a CAGR of 5.6%. Sorbitol is a carbohydrate that is also known as polyols or sugar alcohols. It is commonly used as an ingredient in the food & beverage industry to make a variety of processed food products. Consumer demand for food products is expected to rise as the population grows. As a result, Sorbitol products are seeing emerging growth in the segment.
Sorbitol Market: Asia-Pacific Holds the Largest Share
On the basis of geography, the Sorbitol market can be segmented into North America, South America, Europe, APAC and EMEA. According to IndustryARC’s analysis, Asia-Pacific has emerged as the most profitable region in the market. In 2022, the Asia-Pacific region held a 43% share of the total revenue earned by the market globally. Asia-Pacific countries, including India and China, are ahead comparatively in terms of food product consumption. The sorbitol market would also gain demand from the North American region. The U.S. and Canada are emerging as competitive countries in the Sorbitol market.
Sorbitol Market: Competitive Landscape
Key companies holding major shares in the Sorbitol market are Archer Daniels Midland Company, Cargill Incorporated, Roquette Freres, Ingredion Incorporated, Tereos Starch & Sweeteners, Ecogreen Oleochemicals Pte Ltd, Gulshan Polyols Ltd., Merck Group, SPI Pharma, Inc., Sukhjit Starch & Chemicals Ltd
In August 2022, Psaltry International launched the first and second largest cassava-based Sorbitol factory in Africa.
In March 2022, Sunar Misir announced the addition of a new product, Sunsorb® Sorbitol Powder, to its polyols portfolio via an investment in a high-tech manufacturing facility in Turkey.
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