New York, NY -- (SBWIRE) -- 12/02/2020 -- The global sorbitol market size is expected to reach USD 2.18 Billion by 2027, estimates a new study by Reports and Data. Increasing preference for organic cosmetic products is expected to drive growth of the industry. Sorbitol also known as glucitol, is utilized in cosmetics as an element for preserving moisture or humectant as well as a thickening agent, among others. As a humectant, it limits moisture loss by drawing water from the air via osmosis, thereby maintaining moisture level of both the skin and the hair. Furthermore, sorbitol is frequently used in gel products, due to its capacity to retain moisture. It is used as a thickening agent in cosmetics owing to its ability to pertain favored features such as viscosity, consistency, or adhesion to the products.
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The growth of the food & beverage industry is playing a significant role in boosting industrial demand of sorbitol. Sorbitol is also widely used in baked goods, confectionery, and chocolate, because these products tend to harden or become dry but sorbitol can reverse this effect owing to its property of retaining the product's moisture content. Its moisture-retentive features help maintain the initial freshness of the manufactured goods during storage, thereby extending their shelf life. Moreover, sorbitol is very stable as it can withstand high temperatures. Sorbitol is compatible with other food ingredients, such as sugars, proteins, gelling agents, and vegetable fats, as well as a variety of other sweeteners.
Additionally, the increasing demand for sorbitol in personal care products is expected to impact industrial growth. It is mostly used in toothpaste and mouthwash products and acts as a moistener and binding agent.
North America accounted for USD 907.6 million in 2019 in terms of revenue and is anticipated to register a CAGR of 7% over the forecast period. The demand for sorbitol in North America can be credited to the increasing awareness regarding the dietary supplements and their nutritional advantages. Asia Pacific is anticipated to be the most comprehensive and fastest-growing regional sector witness at a CAGR of 9.4% during the forecast period. Lower production costs, increasing demand for personal care products, and growing food and beverages and pharmaceutical sectors in China and India are anticipated to push the regional market development.
Impact of COVID-19 on Sorbitol Market:
COVID-19 is expected to have a moderate impact on the industry. The global production of sorbitol has suffered immensely due to the imposition of lockdown and social restrictions. In most economies, particularly in the Asia Pacific region crippled, the industry is projected to witness disruption in the supply chain. COVID-19 is expected to affect the global economy in 3 main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. With the lifting of restrictions and increased government initiatives to start economic activities, countries are hoping for the industry's imminent recovery.
Key participants in the sorbitol market include:
America International Foods Inc.
Archer Daniels Midland
Cargill Inc.
DuPont
Merck KGaA
SPI Pharma
Roquette Frères
Tereos Starch & Sweeteners
Ecogreen Oleochemicals Pvt. Ltd.
Gulshan Polyols Ltd.
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Sorbitol Market: Segmentation
For the purpose of this report, Reports and Data has segmented into the global Sorbitol market on the basis of product type, function, application, end use and region:
Product Outlook (Revenue, USD Million; 2017-2027 & Volume, Kilo Tons; 2017-2027)
Liquid/ Syrup
Powder/ Crystal
Function Outlook (Revenue, USD Million; 2017-2027 & Volume, Kilo Tons; 2017-2027)
Sweetener
Bulking Agent
Flavouring Agent
Humectant
Others
Application Outlook (Revenue, USD Million; 2017-2027 & Volume, Kilo Tons; 2017-2027)
Direct Application
Indirect Application
End Use Outlook (Revenue, USD Million; 2017-2027 & Volume, Kilo Tons; 2017-2027)
Personal care
Oral Care
Toothpastes
Chewing Gums
Mouth Fresheners
Skin Care
Hair Care
Colour Cosmetics
Others
Chemical
Surfactants
Ascorbic Acid (Vitamin C)
Polyether
Others
Food & Beverages
Bakery Products
Breads
Cakes
Biscuits & Cookies
Confectionery Products
Jams & Preserves
Chocolates
Processed Food
Dairy & Frozen Dessert
Diabetic & Dietetic Food
Beverages
Diet Soda
Fruit Juices & Syrups
Others
Pharmaceutical
Counter Medicine
Syrups
Tablets
Direct Compression
Wet and Dry Granulation
Capsules and Sachets
Creams and Emulsions
Medicated Confectionery
Hard Boiled Candies/Lozenges
Medicated Chewing Gums
Others
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Regional Outlook (Revenue, USD Million; 2017-2027 & Volume, Kilo Tons; 2017-2027)
North America
U.S.
Canada
Europe
Germany
U.K
France
Italy
Spain
Asia Pacific
China
India
Japan
South Korea
Middle East & Africa
Saudi Arabia
Latin America
Brazil
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