Sugar Alcohol Market size is estimated to reach $5.01 billion by 2025, growing at a CAGR of 7.1% during the forecast period 2020-2025. Sugar Alcohols are organic compounds that are derived from sugars, which contain one hydroxyl group attached to each carbon atom and they can occur naturally or be produced industrially by hydrogenation of sugars. Rapid increase in the number of chronic diseases, inclination towards sedentary lifestyle, increase in the consumption of low-calorie foods are the factors that are set to drive the growth of the global market for the forecast period 2020-2025.
By Product Type- Segment Analysis
Based on the Product Type, the Sorbitol segment held the largest share in 2019 owing to the factors such as increasing usage of cosmetics, growing demand for nutritive sweeteners, helping in the treatment of hyperkalaemia and growing demand as a sugar derivative in production process of beverages. Mannitol segment is estimated to be the fastest growing segment during the forecast period 2020-2025. The growth in this segment is owing to the growing demand for sweeteners; also, it helps in lowering the increased intracranial pressure and in decreasing pressure in the eyes.
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By Application- Segment Analysis
Based on the Application, the Food and Beverages segment held the largest share in 2019 owing to the factors such as inclination towards western lifestyle, increase in the disposable income of individuals and growing demand for processed foods. Pharmaceuticals segment is estimated to be the fastest growing segment owing to its several applications such as sugar alcohols increase the mineral bioavailability of human and they are used in certain cases of kidney failure with low urine input.
By Geography – Segment Analysis
Based on the Geography, the North America held the largest share in 2019. The growth in this segment is owing to the factors such as sedentary lifestyle, advancements in technology, growing awareness regarding health and increasing investment in the developed countries. Asia-Pacific is estimated to be the fastest growing segment owing to the factors such as growth in the income of developing countries, more young population and inclination towards western lifestyle.
Drivers – Sugar Alcohol Market
Rapid increase in the number of chronic diseases especially diabetes
The awareness regarding health is increasing owing to rise in the number of chronic diseases especially diabetes. This led to rapid increase in the growth of Sugar Alcohol Market as sugar alcohols maintain blood sugar levels and are nutritional sweeteners. The sedentary lifestyle of the customers is also estimated to enhance the growth of Sugar Alcohol Market.
Major companies inclining towards sugar alcohols to improve the sugar content of foods
The rapid increase in the demand for beverages and increase in the demand for low calorie foods made the companies to increase investment towards healthier and low calorie foods which led to rapid increase in the growth of Sugar Alcohol Market. Individuals inclination towards western lifestyle and increase in the disposable income of individuals is estimated to enhance the growth of Sugar Alcohol Market.
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Challenges – Sugar Alcohol Market
Complexity of sugar alcohol production than artificial sweeteners
The production of sugar alcohol is more complex than the artificial sweeteners, which is estimated to reduce the growth of the market. Difficulties in the acquisition, procurement of raw materials and difficulties in the supply chain are making the companies to face many challenges, which is said to reduce the growth of the Sugar Alcohol Market.
Sugar Alcohol Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Sugar Alcohol Market. Key companies of this market are Archer Daniels Midland Company, Cargill, Ingredion Incorporated, Roquette Freres, Associated British Foods, Atlantic Chemicals Trading GmbH, A&Z Food Additives, Fraken Biochem Co Ltd, MacAndrews &Forbes Incorporated, Tate&Lyle PLC among others.
In 2020, Ingredion Incorporated has launched Erysta which is a new sweetener made from an erythritol polyol sugar alcohol that has undergone a fermentation process.
In 2018, Cargill entered into an agreement with Royal DSM to produce steviol glycosides sugar alcohols for giving manufacturers an even more sustainable and low cost-in-use solution.
Geographically, North America’s Sugar Alcohol market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high demand.
The increase in the technology and knowledge among customers is likely to aid in the market growth of Sugar Alcohol Market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Sugar Alcohol Market report.
The increase in the economic growth of developing countries and growing awareness regarding health are creating higher opportunities for the growth of market for the forecast period 2020-2025.
Related Reports :
A. Sugar-Based Excipients Market
B. Sugar Substitutes Market
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