The global mannitol market sales are set to grow at over 6.9% CAGR during the forecast period of 2021 and 2031, estimates ESOMAR-certified consulting firm Future Market Insights.
Rising prevalence of diabetes across the globe is increasing the adoption of mannitol as an alternative of sugar. As it is a low-calorie sweetener and is non-cariogenic, consumers are preferring mannitol as an alternative to sugar, increasing the consumption in food & beverages as well as pharmaceutical industry.
Demand for clean-label and low calorie food sweetener is spurring the growth of mannitol market, especially across Latin America and Asia Pacific. According to the FMI’s analysis, countries such as Brazil, India, and China are expected to emerge as highly lucrative market during the forecast period.
As per FMI’s study, China is anticipated to register over 51% of sales in East Asia, while India is dominating the South Asia mannitol market with a market share of over 46% during the forecast period.
Increasing health conscious population, especially across the U.S. and the U.K. along with surging consumption of baked and functional foods will increase the consumption of mannitol within these countries over the forecast period.
Extensive usage of mannitol in coating of dried fruits, hard candies, and other confectionary foods will also spur the growth. Besides this, pharmaceutical industry have increased the use of mannitol for coating of chewable pills and other sugar-free and sugar-alternative products.
Consumers attitude towards the healthy lifestyle coupled with rising cases of diabetes among young adults have fuelled the sales of mannitol within the food & beverage and pharmaceutical industry. Increasing cases of obesity across North America and Europe are furthering the adoption of mannitol, spurring the sales.
As per FMI’s analysis, the global mannitol market is anticipated to surpass a valuation of US$ 390 Mn by 2021.
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“Surging cases of diabetes and obesity, especially among the younger generation, have increased the consumption of low-calorie and sugar-alternative food products, fostering the sales of mannitol. Hence, manufacturers are introducing new variation in the product launches, catering to specific requirement of consumers, subsequently creating lucrative opportunities during the forecast period,” says the FMI analyst.
Key Takeaways from FMI’s Mannitol Market Study
- In terms of forms, crystal is the most preferred form and holds the largest market share of around 60% of global mannitol market
- Pharmaceutical sector is the fastest growing end-user segment, exhibiting a growth at 7.8% CAGR, accounting for nearly 24% of market share
- The U.S is anticipated to lead the global mannitol market, registering sales of over 62% of sales across North America
- Rising demand for functional foods in the U.K. will spur the sales of mannitol, exceeding the valuation of US$ 11.9 Mn in 2021
- Brazil is expected to be the fastest growing market in Latin America, accounting for over 34% of mannitol consumption in the region
- China is expected to dominate the East Asia’s mannitol market, while Japan and South Korea market sales are expected to surge at the higher rate during the forecast period
- Extensive demand for low-calorie sugar alternative product across India will foster the mannitol sales during the forecast period
- Countries such as France and Germany will emerge as lucrative market during the forecast period backed by the high demand for baked items across these regions
Increasing demand from emerging economies such as India, China, and GCC countries for low-calorie food items are providing lucrative opportunities for the market players. Leading players are focusing new product launches in those regions to expand their global reach, in turn creating opportunities for mannitol market.
Along with new product launches and innovations, key players are also forming partnerships and opting for strategic collaborations to increase their customer base and maintain their position in the industry.
In March 2021, Chiesi USA Inc., the U.S. affiliate of Chiesi Farmaceutici, an international research-focused healthcare Group, announced the launch of Food & Drugs Administration (FDA)-approved Bronchitol® (mannitol) inhalation powder, an add-on maintenance therapy to enhance and improve pulmonary function in cystic fibrosis patients 18 years of age and older.
Some of the prominent market players profiled by Future Market Insights operating in mannitol market include:
- Roquette Frères Company
- Cargill Inc.
- SPI Pharma
- Qingdao Bright Moon Seaweed Group Co.
- Spectrumchemical manufacturing corp.
- Hebei Huaxu Pharmaceutical Co. Ltd
- Rongde Seaweed Co. Ltd
- Ingredion Incorporated
- Zuchem Inc.
- Akhil Healthcare (P) LTD.
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More Insights on the Global Mannitol Market
Future Market Insights, in its latest assessment offers an unbiased analysis on the global mannitol market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of:
- Bakery Goods
- Sweet Spreads
- Dairy Products
- Canned Food
- Carbonated Drinks
- Fruit Drinks & Juice
- Powdered Drinks and Mixes
- Solid Dosage Forms
- Lyophilized Preparations
- Medicated Confectionery/ Medicated Chewing Gum
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
Key Questions Covered in the Report
- What will be the demand outlook forecast of mannitol market?
- Which is the highest grossing market for mannitol?
- Who is the leading end user of mannitol market?
- Which are some of the leading companies offering mannitol products?
- Which region will remain the most lucrative throughout the forecast period?
- What is the impact of Covid-19 on mannitol market?
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