The global market for sorbitol is expected to reach USD 3.99 billion by 2020, according to a new study by Grand View Research, Inc. Increasing health awareness among consumers worldwide is expected to fuel market demand over the forecast period.
Cosmetic and personal care was the largest end use application segment, accounting for over 600 kilo tons of sorbitol demand in 2013. Stabilizing, softening and surface active properties of sorbitol are the key reasons for growing use in the above applications.
Major application of sorbitol is for the production of vitamin c. However, with overproduction of vitamin c, this application is witnessing slow growth. As sorbitol is metabolized at a slower rate as compared to other sugar alcohols, it is effective in prevention of dental problems such as cavity and tooth decay. This has resulted in its increased use as a key ingredient in oral care products.
Sorbitol have a similar product base as polyols, therefore they are potential chemical platforms for renewable production of these substances. It is a feasible environmental friendly alternative. Erthylene glycol, propylene glycol, glycerol and isosorbide are few materials that have undergone processes of being manufactured from sorbitol.
China is a leading producer of vitamin c. Consequently, it also accounts for a major portion of sorbitol consumption as input for its production. However, with increased overproduction of vitamin c, the growth rate of this market consumption has become stagnant, leading to its increased use in other segments. Europe and USA are other major sorbitol consumers owing to their well established and dynamic personal care and food & beverages industries. These segments are also responsible sorbitol market growth in Latin America and Middle East and Africa regions. Substitution of sorbitol in food products and stoppage in production of vitamin c has resulted in its low consumption in regions such as Japan.
Further key findings from the study suggest:
- Global sorbitol demand was 1,829.6 kilo tons in 2013 and is expected to reach 2,337.2 kilo tons by 2020 growing at a CAGR of 3.6% from 2014 to 2020.
- Liquid sorbitol is the largest used product, accounting for 1,524.7 kilo tons of demand in 2013, mainly due to simplified production process and low cost in comparison to crystal sorbitol.
- Toothpaste is the fastest growing application segment, at an estimated CAGR of 4.0% from 2014 to 2020 mainly due to sorbitol properties that prevent cavities and tooth decay.
- Asia Pacific was the largest regional market for sorbitol with revenue USD 656.9 million in 2013. China being the largest producer of Vitamin C, a key application of sorbitol, has resulted in highest demand in the region. In addition, the region is also expected to witness fastest growth, at an estimated CAGR of 4.1% from 2014 to 2020.
- Cosmetic and personal care along with chemical applications are expected to witness fastest growth at an estimated CAGR of 3.8% from 2014 to 2020.
- Key Companies in the market include Roquette Freres, Cargill and Archer Daniels Midland which together accounted for a market share of over 70% in 2013. Other companies include Sorini, Gulshan Polylols Ltd, SPI Pharma, Merck, Danisco and Sigma-Aldrich.
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, it offers market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights.
Source: Grand View Research