Industry Outlook and Trend Analysis
The Sorbitol Market was worth USD 0.87 billion in the year of 2014 and is expected to reach approximately USD 1.41 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.48% during the forecast period. In 2016 the worldwide smart electricity meters market size was evaluated at USD 6.59 billion. Sorbitol is a sugar polyhydroxyl alcohol that is naturally present in specific fruits. It can likewise be artificially prepared from glucose, and it is economically accessible in the form of crystal and liquid. It useful in a wide range of end use sectors such chemicals & pharmaceuticals, personal care & cosmetics, food & beverages due to its various properties that satisfy the item manufacturing requirements. Its applications are found in different purchaser situated markets, for example, health foods, nutrition, oral care and surfactants. Sorbitol has been significantly utilized as feedstock for generation of vitamin C. This has seen a decrease as of late with over creation of vitamin C in the market, prompting expanded application in different portions. Sorbitol is a natural sweetener with low calories and relative less sweet taste. In this manner, it is a valuable fixing in dietary food & beverages and as a significant sugar alternative for diabetic populace, helping in its market extension.
Product Outlook and Trend Analysis
Sorbitol is accessible in the form of crystal and liquid for use. The fluid frame is created by preparing dextrose that is gotten from corn starch. Since crystal form is acquired by spray drying fluid sorbitol, it causes added cost to the creation procedure.
Application Outlook and Trend Analysis
The production of Vitamin C is a key application for the sorbitol market. Nonetheless, with overproduction of vitamin C, this application is seeing moderate development. As sorbitol is utilized at a slower rate in comparison with other sugar alcohols, it is compelling in the counteractive action of dental issues, for example, tooth decay and cavity. This has brought about its expanded use as a key element in oral care products. A natural sweetener with low caloric esteems, sorbitol, is finding expanded usage in diabetic and dietary nourishment items and refreshments. Another utilization of sorbitol is as surfactants through wetting and foaming agents, detergents, emulsifiers, dispersants, and so forth.
End User Outlook and Trend Analysis
The worldwide sorbitol market has unutilized potential as a chemical intermediate of the road for the creation of a few different products. Its utilization in the food section as low-calorie sweetener and additive has expanded in the course of the most recent couple of years. Due to surface active and stabilizing softening elements of sorbitol is extensively used in personal care products. Key pharmaceutical usage includes sorbitol as an excipient and laxative agent.
Downstream Opportunity Outlook and Trend Analysis
Sorbitol has an identical product base as polyols. In this way they are potential compound mediums for the inexhaustible creation of these substances. It is a feasible and eco-friendly option. Glycerol, isosorbide, Ethylene glycol, and propylene glycol are couple of materials that have experienced procedures of being produced from sorbitol.
Regional Outlook and Trend Analysis
China is a dominant maker of vitamin C. The nation additionally represents a noteworthy part of sorbitol utilization as contribution for its generation. However, with overproduction of vitamin C, the development rate of this market utilization has turned out to be dormant, prompting its expanded use in different sections. United States and Europe are other key areas in the sorbitol market, attributable to their entrenched and dynamic food & beverages and personal care ventures. These sections are additionally capable sorbitol market development in Latin America and the Middle East and Africa districts. Replacement of sorbitol in food products and stoppage in the manufacturing of vitamin C has brought about its low utilization in areas, for example, Japan.
Some of the prominent players in the market are Cargill, Ecogreen Oleochemicals GmbH, Spi Pharma, American International Foods, Qinhuangdao Lihua Ltd, Sigma-Aldrich, Archer Daniels Midland, Gulshan Polyols Ltd and Tereos Syral SAS. The pattern of moving production bases to Asia Pacific locales because of low generation and work costs is required to be a key for sorbitol market improvement throughout the following years.
The Sorbitol Market is segmented as follows-
Diabetic & Dietetic Food & Beverages
By End User:
Personal care & Cosmetics
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2014 to 2023?
What will be the industry market growth from 2014 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?