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2021
Sugar Alcohol Market

Sugar alcohol Market by Type (Sorbitol, Xylitol, Mannitol, Maltitol, Isomalt, and Others), Form (Powder & Crystal and Liquid & Syrup), and Application (Food & Beverages, Pharmaceuticals, Cosmetics & Personal Care, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027
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A09022
Pages: 290
Jan 2021 | 4403 Views
Author(s) : Bhavana Thorat , Roshan Deshmukh
Tables: 138
Charts: 82
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COVID-19

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The global sugar alcohol market was valued at $3,360 million in 2019, and is projected to reach $4,800.4 million by 2027, registering a CAGR of 5.9% from 2021 to 2027. In 2019, the sorbitol segment accounted for the highest sugar alcohol market share. Sugar alcohols refer to organic compounds, typically derived from sugars, comprising a class of polyols. They are white, water-soluble solids that can occur naturally or produced industrially from sugars. 

Consumer consciousness regarding health impact of artificial sugar substitutes have led to rise in demand for sustainable and low-calorie alternative sweeteners. Biomass derived sugar alcohols have numerous applications including oral hygiene, pharmaceutical industries, and food containing sugar alcohols, hence these products are increasingly available on supermarket shelves. Expansion of applications of sugar alcohols across industries also propels the market for sugar alcohol. In addition, applications of polyols (sugar alcohols) in the pharmaceutical & nutraceutical industry have increased exponentially. Rise in consumption of nutraceuticals among consumers in the form of functional foods, dietary supplements, and functional beverages has gained momentum for the market. 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. Hence, expansion in use of sugar alcohols for manufacturing pharmaceuticals propels the sugar alcohol market growth and positively impact the sugar alcohol market demand. However, high production costs of sugar alcohol as compared to sugar is expected to hamper the growth of sugar alcohol market.  

Sugar-Alcohol-Market-2020-2027

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On the contrary, consumers in Asia-Pacific are investing more in food and nutraceutical products, which is expected to add value to their choice of living a healthy lifestyle. With rise in disposable income, consumer spending, and growth in health consciousness, the demand for low-calorie and low-sugar food items is expected to gain traction in the region. Therefore, use of sugar alternatives, such as polyols, is expected to gain substantial recognition. This can be regarded as an opportunity for polyol manufacturers for the further growth and expansion of global sugar alcohol market. 

According to the global sugar alcohol market report, the market is segmented on the basis of type, form, application, and region. On the basis of type, the market is categorized into sorbitol, xylitol, mannitol, maltitol, isomalt, and others. By form, it is classified into powder & crystal and liquid & syrup. Depending on application, it is distributed into food & beverages, pharmaceuticals, cosmetics & personal care, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

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 sugar alcohol market 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. 

Sugar alcohol Market
By Type

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The Mannitol Sugar Alcohol segment would witness the fastest growth, registering a CAGR of 7.50% during the forecast.

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On the basis of form, the powder & crystal segment was dominant in 2019, and accounted for 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.  

Sugar alcohol Market
By Form

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Liquid & Syrup segment would witness the fastest growth, registering a CAGR of 6.40% during the forecast period.

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On the basis of application, the food & beverages segment was dominant with 40.2% sugar alcohol market share. Sugar alcohols are mainly used to produce food & beverage products, owing to their sweetness and texturing properties. Recent technical advances have added to a range of sugar alcohols available for food use, hence expanded applications of these sugar replacers in diet and health-oriented foods.

Sugar alcohol Market
By Application

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Pharmaceuticals segment would witness the fastest growth, registering a CAGR of 6.50% during the forecast period.

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However, the pharmaceuticals segment is anticipated to grow at a faster rate during the forecast period and contribute to the growth of the sugar alcohol market size.

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. 

Sugar alcohol Market
By Region

2027
Europe 
North America
Asia-pacific
Lamea

Asia-Pacific region woud witness the fastets growth, registering a CAGR of 6.80% from 2019-2026.

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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.

According to the global sugar alcohol market analysis, the key players operating 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. 

Key Benefits For Stakeholders

  • The report provides a quantitative analysis of the current sugar alcohol market trends, estimations, and dynamics of the market size from 2021 to 2027 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis, sugar alcohol market size, and segmentation assist in determining the prevailing opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the sugar alcohol industry.

Key Market Segments

  • By Type
    • Sorbitol
    • Xylitol
    • Mannitol
    • Maltitol
    • Isomalt
    • Others
  • By Form
    • Powder & Crystal
    • Liquid & Syrup
  • By Application
    • Food & Beverages
    • Pharmaceutical
    • Cosmetics & Personal care
    • Others
  • By Region
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • UK
      • Italy
      • Spain
      • Russia
      • Rest of Europe
    • Asia-Pacific
      • China
      • India
      • Japan
      • Australia
      • New Zealand
      • Rest of Asia-Pacific
    • LAMEA
      • Brazil
      • Saudi Arabia
      • South Africa
      • Turkey
      • Rest of LAMEA


Key Market Players

  • ARCHER DANIEL MIDLAND COMPANY
  • ASSOCIATED BRITSH FOOD PLC.
  • ATLANTIC CHEMICALS TRADING GMBH.
  • CARGILL, INC.
  • DUPONT DE NEMOURS, INC.
  • INGREDION INCORPORATED
  • MITSUBISHI CORPORATION LIFE SCIENCES LIMITED.
  • ROQUETTE FRÈRES SA.
  • SPECTRUM CHEMICAL MANUFACTURING CORPORATION.
  • TATE AND LYLE PLC.
 

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The sugar alcohol market is expected to grow gradually during the forecast period, owing to various factors such as growth in inclination toward low-calorie food & beverages and rise in growth of the nutraceutical industry. 

Rise in number of health-conscious consumers has led to increase in adoption of products that contribute toward achieving a healthier lifestyle. These products include dietary supplements and functional food & beverages. Polyols are majorly used in production of these products, owing to their functional properties. In addition, they have proven benefits, in terms of dental health, improved glycemic control, and calorie-reduction. These properties make them unique in healthy food formulation. Moreover, consumers are also opting for food & beverages, which are low in calories or are produced with less sugar. Therefore, the need for traditional sugar alternatives has increased exponentially. These factors have created lucrative growth opportunities for polyols, a type of sugar alcohol.

Furthermore, Asia-Pacific is projected to register a significant growth for sugar alcohols compared to the mainstream markets of Europe and North America. This is attributed to rise in consumer spending, growing prevalence of health consciousness, and rise in urban population paired with improved living standard, thereby generating huge demand for nutraceuticals in the region. 

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FREQUENTLY ASKED QUESTIONS?

A. The global sugar alcohol was valued at $3,360.0 million in 2019.

A. The global sugar alcohol market is projected to reach $4,800.4 million by 2027.

A. The global sugar alcohol market is projected to grow at 5.9% CAGR during forecast period.

A. The mannitol segment is expected to lead the sugar alcohol market during the forecast period.

A. The key opportunities in the sugar alcohol market include product development and innovation and exploring demand in the Asia-Pacific region.

A. The key sugar alcohol market drivers include rise in demand for polyols in the food industry, increase in demand in the pharmaceutical industry and rise in prevalence of obesity and diabetes. The key sugar alcohol market restraint includes its high production costs.

A. The key companies operating in the sugar alcohol 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.

A. The Asia-Pacific region is anticipated to hold the major share in the global sugar alcohol market.

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