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Sugar Alcohol Market Overview:
Sugar alcohols are soluble organic compounds found naturally in fruits & vegetables in small amounts, but commercially, it is derived from sugars & starch. It is added to food & beverages as a low-calorie sweetener. Over recent years, the consumption of sugar alcohol has been rising continually. Resultantly, the growth of the Sugar Alcohol Market is continuously increasing, witnessing rising production rates worldwide.
The burgeoning food & beverage industry and augmenting demand for low-calorie food products are escalating the growth of the market. Market Research Future (MRFR) confirms that the global sugar alcohol market is expected to escalate from USD 3.81 BN in 2022 to USD 6.2 BN by 2030, growing at a 7.0% CAGR during the review period (2022-2030).
Sugar alcohol is widely used in processed food & beverages to maintain normal blood glucose levels. Besides, a type of sugar alcohol Sorbitol finds its wider application in the pharmaceuticals and food & beverage industries. Also, technological advances and new product launches are boosting the market growth. On the other hand, complex production processes of sugar alcohols pose a significant challenge to the growth of the market.
This factor is expected to continue to hamper market growth during the forecast period. Nevertheless, advancement in technology expected in the future would support market growth, simplifying the production processes. Also, the growing demand for the rapidly growing beverage industry is projected to aid in pushing forward the sugar alcohol market forward in the coming years.
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Sugar Alcohol Market – Segmentation
The analysis is segmented into types, sources, applications, and regions. The type segment is sub-segmented into Sorbitol, erythritol, mannitol, xylitol, isomalt, lactitol, and others. The source segment is sub-segmented into fruits, vegetables, grains, sugarcane & molasses, and others (birch wood).
The form segment is sub-segmented into powder and liquid. The application segment is sub-segmented into confectionery, bakery foods, tabletop sweeteners, pharmaceuticals, dairy products, and others. By regions, the sugar alcohol market is segmented into the Americas, Europe, Asia-Pacific, and rest-of-the-world (RoW).
Global Sugar Alcohol Market – Regional Analysis
North America dominates the global sugar alcohol market due to the largest production of bakery & confectioneries in the region. Moreover, the high disposable income of consumers, alongside the presence of major players and their vivid product launches, are stimulating sales in the regional market. The US and Canada are major markets for sugar alcohol in the region. The North American sugar alcohol market will retain its dominance throughout the forecast period.
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Global Sugar Alcohol Market – Competitive Landscape
Highly competitive, the sugar alcohol market appears fragmented with several well-established players. Players incorporate strategies such as mergers & acquisitions, collaboration, expansion, and technology launches to gain a larger competitive advantage in this market. Manufacturers strive to develop high-quality products based on innovative technologies. They also aim to provide the product with customized/bulk packaging and special requirements.
Major Players:
Players leading the sugar alcohol market include A & Z Food Additives Co. Ltd (China), Cargill Inc (US), Atlantic Chemicals Trading GmbH (Germany), Fraken Biochem Co. Ltd. (China), Beckmann-Kenko GmbH (Germany), Roquette Freres (France), Archer Daniels Midland Company (US), Sanxinyuan Food Industry Corp Limited (China), Ingredion Incorporated (US), and Mitsubishi Shoji Foodtech Co., Ltd. (Japan), among others.
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