The global sugar alcohol market is expected to experience continuous possibilities in the baking industry, according to a new analysis just released by Future Market Insights. Despite the continuous threat posed by the coronavirus pandemic, demand for convenience foods and beverages is anticipated to have a beneficial impact on growth.
The demand for sugar alcohol products has been gradually increasing due to urban population development and the accessibility of processed foods and beverages. Sugar alcohol is widely utilised in a variety of food and beverage applications, including bread and dairy, as well as in strong supply chains to extend the shelf life of goods.
On the other hand, rising consumer health consciousness has caused a shift away from traditional products and toward low-calorie, healthful substitutes in the market, which is positively affecting uptake even in specialised pharmaceutical applications.
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Key Takeaways
- Xylitol sugar alcohol products to find greater adoption rates, owing to confectionary consumption.
- Erythritol variants to gain ground as sweetening agents, attributed to low-calorie characteristics.
- Bakery product applications as preservatives are expected to gain application with higher consumption of ready-to-eat foods.
- Beverage production to register increased use of sugar alcohols in the period 2020 to 2030.
- Asia-Pacific, led by China is reflecting faster than average growth, Europe likely to retain lead in the market.
Covid-19 Impact Insights
As the coronavirus pandemic continues to hold the global economy in its grip, the potential for recession is high. With food and beverage production being hit by lockdown, especially in the processed foods sector, the sugar alcohol market is expected to be moderately impacted during this period.
The use of sugar alcohols in the production of hygiene products such as hand sanitizers will drive demand during the crisis period, which can be attributed to the largely number of patients, and high-levels of contagiousness of the virus. Applications in the pharma sector are also likely to witness an uptick.
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Competitive Landscape
The global sugar alcohol market is largely fragmented with the presence of many international and regional manufacturers, which has created a competitive market landscape. Some of the leading players in the sector are Cargill Inc., DuPont, Archer Daniels Midland Company, Ingredion Inc., BENEO GmbH, Mitsubishi Shoji Foodtech Co. Ltd., Roquette Freres, A & Z Food Additives, and Beckmann Kenko GmbH, among others.
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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