According to the latest report by IMARC Group, the global sorbitol market reached a volume of 2.62 Million Tons in 2020. Looking forward, the market expects to reach a volume of 2.97 Million Tons by 2026. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the major players and suppliers analyzed in the report include: Roquette Freres SA, Cargill, Incorporated, Ingredion, Incorporated, Archer Daniels Midland Company ADM, +0.85%, Shandong Tianli Pharmaceutical Co., Ltd., PT Sorini Agro Asia Corporindo Tbk, Kasyap Sweetners Limited
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Sorbitol Industry 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.
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The report has segmented the market on the basis of Application, Type, Feedstock and Region.
Market Segmentation by Application
Cosmetics and Toiletries
Food and Beverage
Pharmaceuticals
Toothpaste
Industrial Surfactants
Others
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.
Market Segmentation by Type
Liquid Sorbitol
Powder Sorbitol
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.
Market Segmentation by Feedstock
Corn
Wheat
Cassava
Others
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.
Segmentation by Region
China
United States
Europe
Indonesia
India
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.
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