Global Sorbitol Market, By Product Type (Liquid/Syrup Sorbitol, Powder/Crystal Sorbitol); By Function (Sweetener, Bulking Agent, Flavoring Agent, Humectant, Others) By Application (Cosmetics & Personal Care, Food & Beverage, Pharmaceuticals, Chemicals) - Industry Trends and Forecast to 2024
The Global Sorbitol Market accounted for USD 1.08 billion in 2016 and is projected to grow at a CAGR of 5.1% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Sorbitol Market
Sorbitol is kind of sweetener/sugar alcohol extracted from corn syrup and also from fruits such as apple, pear, prunes etc. The demand for sorbitol is high on account of consumer preference for low calorie food and use in organic personal care. Furthermore, the growing demand for sorbitol in cosmetics & personal care, food & beverage, pharmaceuticals and chemicals industries is expected to be one of the major drivers of the market over the next seven years.
Major Market Drivers:
- Consumer preference for low-calorie food
- Rising health problems due to consumption of sugar-based products
- Growing organic personal care market
- Adherence to international quality standards and regulations
Market Segmentation: Global Sorbitol Market
The sorbitol market is segmented on the basis of product type into liquid/syrup sorbitol and powder/crystal sorbitol.
On the basis of function, the market is segmented into sweetener, bulking agent, flavoring agent, humectant and others.
On the basis of application, the market is segmented into cosmetics & personal care, food & beverage, pharmaceuticals, chemicals and other.
On the basis of geography, the sorbitol market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Landscape: Global Sorbitol Market
The global sorbitol market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors: Global Sorbitol Market
Some of the major players in sorbitol market include Archer Daniels Midland, Cargill Incorporation, Danisco A/S, Ecogreen Oleochemicals Pte. Ltd., Gujarat Ambuja Exports Ltd., Gulshan Polyols Ltd., Ingredion Incorporated, Jeecon Foods Pvt. Ltd., Kasyap Sweetners Ltd., Merck Group, Qinhuangdao Lihua Starch Co. Ltd., Roquette Frères, SPI Pharma, Inc., Sukhjit Starch & Chemicals Ltd., Tereos Starch & Sweeteners and many more.
Research Methodology: Global Sorbitol Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.