Sugar Alcohols market Report, Industry Growth, Size, Developments, Demand and Forecast by 2027
The global sugar alcohols market size is projected
to reach USD 6.70 Billion by 2027 backed by increasing demand for gluten-free
food products across the globe. Fortune Business Insights, in its latest
report, titled “Sugar Alcohols Market Size, Share & Industry Analysis, By
Type (Sorbitol, Xylitol, Maltitol, Erythritol, and Isomalt), Application (Food
and Beverages, Pharmaceuticals, and Cosmetics and Personal Care), and Regional
Forecast, 2020 – 2027.”observes that
The sugar
alcohols market size was worth USD 3.61 Billion in 2019 and will exhibit a
CAGR of 7.75% between 2019 and 2027.
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Sugar alcohols also known as polyols are turning out
to be the fast emerging alternative to sugar. Though they bore similar
resemblance to sugar considering their texture and taste, they contain far less
caloric content and fewer health hazards when consumed. In addition to this,
several studies have shown that consumption of polyols may lead to improving
the health of the consumer. Furthermore, they are hybrids between sugar
molecules and alcohol molecules and are present in several fruits and
vegetables. Though there are organic polyols, there are few processed from
sugars such as cornstarch and glucose.
Browse summary:
https://www.fortunebusinessinsights.com/sugar-alcohol-market-102956
What does the Report Include?
The market report includes an
exhaustive study of several factors such as drivers, restraints, challenges,
and opportunities that will affect the growth of the market in the forthcoming
years. The report covers regional demographics that include qualitative and
quantitative information about the regions that are further divided into
nations that are contributing to the growth of the market between 2020 and 2027.
Furthermore, the competitive landscape has been discussed in-depth that include
information of several players operating in the market. Moreover, information
on the adoption of strategies such as merger and acquisition, collaboration,
partnerships, and joint ventures by the companies that will drive the growth of
the market has been included during the projected horizon.
Drivers and Restraints:
Increasing Demand for Gluten-free Food
Products to Bolster Growth
Gluten-free food is turning out to be popular among
the people across the globe. An array of benefits such as improved cholesterol
levels, better digestive health, increased energy levels, and aiding
weight-loss, among others provided by gluten-free diet is driving the companies
to launch products to ushers into the popularity of the diet. Glucose syrup
that includes polyols such as maltitol and sorbitol are extensively used across
several regions. Furthermore, growing demand for corn-based glucose syrup that
is believed to be gluten-free is expected to drive the growth of the market
during the forecast period.
Regional Analysis:
Europe to Remain Dominant; High Demand for Sugar-Free
Confectionary Products to Promote Growth
Among the regions, Europe is expected to remain at
the forefront and register maximum global sugar alcohols market revenue during
the projected horizon. Additionally, the region registered a high market share
of USD 1.23 Billion in 2019 and is further anticipated to rise backed by
growing demand for sugar-free confectionary products among the population. Furthermore,
fast-paced lifestyle is leading to a growing consumption of processed foods in
several countries of Europe that will aid the market growth. North America, on
the other, is anticipated to be the second-most leading region in the
forthcoming years. This is ascribable to factors such as increasing prevalence
of diabetic patients in the U.S. Furthermore, the widespread effects of
COVID-19 in the regions is propelling the demand for hand-sanitizers that will
boost the demand for the market during the forecast period.
The market in Asia-Pacific is expected to witness
substantial growth in the forthcoming years. This is attributable to factors
such as presence of large population in the region. Furthermore, high
production of polyols in the countries such as China and India will contribute
to the market growth.
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Competitive Landscape:
Companies Collaborating to Combat COVID-19 to
Augur Growth
According to the report, the market comprises of
several small, medium, and large companies striving to gain maximum market
share by consolidating their position during the forecast period. In addition
to this, the companies are collaborating with each other to fight the global
pandemic, Covid-19 and mitigate the threat to get back the economy on track.
For instance, in March 2020, amid the widespread effect of novel coronavirus
that has caused the scarcity of hand sanitizes, Gull New Zealand, a renowned petroleum
company, announced that it would provide over 340,000 liters of ethanol along
with sugar alcohols to manufacture hand disinfectants. This move is expected to
fill the void caused due to scarcity of hand sanitizers across several regions
that will prove beneficial to fight the pandemic.
List of the Companies Operating in the Market:
·
Archer-Daniels-Midland
Co. – Illinois, U.S.
·
Cargill
Incorporated – U.S.
·
Ingredion
Incorporated – U.S.
·
Roquette Frères -
France
·
Tereos Starch
& Sweeteners s.a.s - France
·
Tate and Lyle plc
– U.K.
·
Pfizer Inc. –
U.S.
·
Lonza Group -
Switzerland
·
SPI Pharma – U.S.
·
Merck KGaA –
Germany
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