By 2032, the Global Sugar Alcohol Market is anticipated to reach a market valuation of USD 3,185.7 Mn, growing at a CAGR of 3.3% between 2022 and 2032. Sales of sorbitol are anticipated to represent 28.2% of the market’s total demand, which is expected to total USD 4,407.7 Mn in 2032.
With the growth in urban population, and easy availability of processed foods and beverages, the need for sugar alcohol products has been growing steadily. Ranging from food & beverage applications such as bakery and dairy, and robust supply chains sugar alcohol is being used extensively to also improve on product shelf life.
On the other hand, growing consumer health awareness has resulted in a transition from conventional offerings towards low-calorie, healthy alternatives in the industry, which is having a positive influence on adoption, even in niche pharmaceutical applications.
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- 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.
“While food and beverage manufacturers continue to use artificial sweeteners, consumers continue to seek healthy alternatives, which in turn has bolstered the demand for polyols, which provides consumers sweet flavorings in addition to nutritive benefits, which will drive demand in the industry for the foreseeable future,” says an FMI analyst
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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.
On the other hand, the use of sugar alcohol in the food and beverage sector is likely to fall during the pandemic owing to increased spending on essentials and ready-to-eat foods, while the demand for confectionary and baked goods has slumped.
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.
Market players have largely been emphasizing on the growth of product portfolios with research into healthy offerings, which are in compliance with local regulations, in an effort to keep up with a highly competitive environment. In addition, production capacity expansion is proving to be a positive influence in bolstering market presence.
For instance, DuPont has announced the approval of the European Commission for the applications of the company’s powdered lactitol supplement. Ingredion Inc. has announced the launch of Erysta – a sugar substitute derived from erythritol polyol. Also, Talenti has released a new gelato range which uses a zero-calorie form of sugar alcohol as a sweetening agent.
More Valuable Insights on the Sugar Alcohol Market
- Food & Beverages
- Bakery Goods
- Sweet Spreads
- Confectionery & Chewing Gum
- Dairy Products
- North America (U.S & Canada)
- Latin America (Brazil, Mexico, & Rest of Latin America)
- Europe (Germany, Italy, France, Spain, U.K., BENELUX, Nordic, Russia, Poland, & Rest of Europe)
- South Asia (India, Thailand, Indonesia, Malaysia & Rest of South Asia)
- East Asia (China, Japan, & South Korea)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC, Southern Africa, and Rest of MEA)
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