Sorbitol Market Worth USD 1,928.3 Million at 5.54% CAGR Forecast by 2026

The food and beverages sector was leading the application segment in the year 2018, occupying 44.4% share in the global Sorbitol Market. This is because sorbitol acts as a nutritive sweetener and offers various advantages in a wide range of applications.

According to a published report by Fortune Business Insights, titled, “Sorbitol: Global Market Analysis, Insights and Forecast, 2019-2026,” the global sorbitol market was valued at US$ 1,244.5 Mn in 2018. The market is projected to reach US$ 1,928.3 Mn by the end of 2026, exhibiting a CAGR of 5.54% in the forecast period (2019-2026).

Persistent Usage in the Cosmetics Industry to Boost Growth of Liquid Sorbitol Segment

Increasing incidence of diabetes and gastrointestinal disorders due to the rising adoption of sedentary lifestyle and changing climate patterns are likely to increase the demand for foodstuff infused with minimum calories.

This in turn, is anticipated to boost the global sorbitol market growth. That is why several food and beverage products manufacturers have begun using sorbitol as a sugar substitute and it will eventually lead to market growth globally. In terms of type, the global market is categorized into powder or crystal sorbitol and liquid or syrupy sorbitol.

Amongst these, the liquid/syrupy segment is likely to witness high growth rate during the forecast period. This is because liquid formulation is very easy to handle and is applied in several fields.  Liquid formulation is vastly used in the cosmetics industry for the production of face creams and lotions.

To get a detailed report summary and research scope of this market, click here:

 https://www.fortunebusinessinsights.com/industry-reports/sorbitol-market-100206  

Rapid Expansion of Pharmaceutical and Personal Care Industries to Favor Growth in Asia Pacific

The global sorbitol market is geographically segmented by Asia Pacific, Europe, the Middle East and Africa, Latin America, and North America. Amongst these, Asia Pacific is projected to possess the largest share of the sorbitol market. This will occur due to the high demand for personal care products and very low manufacturing costs involved.

In emerging countries, such as India and China, there has been a rapid growth of the pharmaceutical and food and beverage sectors. Governments of both these countries have started taking initiatives to promote the domestic production outputs of personal care and pharmaceutical industries. All these factors will spur the sorbitol market development in Asia Pacific.

Rise in the Demand for Personal Care and Cosmetic Products to Surge Sorbitol Sales

By application, the market is grouped into pharmaceuticals, personal care and cosmetics, and others. Amongst these, the personal care and cosmetics segment had procured a major global sorbitol market share in the past.

This is because sorbitol is used as a thickening agent in the formulation of numerous products. Moreover, there has been a rise in the demand for personal care products across the globe which is further expected to propel the demand for sorbitol in the coming years. The oral care sector has been witnessing an increasing demand for sorbitol due to its application in mouthwash, transparent gels, and toothpaste.

Since the past few years, renowned market players have been choosing the untapped markets to increase sales by launching wide ranges of innovative products. Sorbitol is also used in other segments, namely, emulsifier, dispersant, and foaming and wetting agent. All of these factors are anticipated to contribute to the market growth.

Fortune Business Insights has profiled few of the prominent market players operating in the global sorbitol market. Some of them are Archer Daniels Midland Company, Lonza Inc., Cargill, Incorporated., Tate & Lyle, Ingredion Incorporated, Merck KGaA, Tereos Starch & Sweeteners s.a.s, SPI Pharma, Roquette Frères, Pfizer Inc., and other key market players.

The global sorbitol market can be segmented into: