San Francisco, Oct. 08, 2015 (GLOBE NEWSWIRE) -- Global sorbitol market size is anticipated to be reach USD 3.99 billion by 2020, as per a new research report by Radiant Insights, Inc. Growing consumer perception towards product benefits derived from natural ingredients is expected to drive the demand. Shift in preference towards organic personal care & cosmetic products owing to health & safety factors are expected to positively influence market growth. Increasing demand for low calorie artificial sweeteners particularly for diabetic patients is likely to surge sorbitol market growth.
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Favorable government regulations regarding its use as artificial sweetener by U.S. FDA and affirmed as GRAS is expected to favor the demand. Raw material deficit in the market such as corn starch may affect profitability and industry participant’s growth.
Liquid/syrup dominated the product segment and accounted for more than 80% of the market share in 2013. Its low cost and simplified manufacturing process in comparison to its counter product which is crystal/powder type is expected to act in favor of its preference. Crystal/powder type is likely to grow at below average growth rates with a CAGR of 2.9% up to 2020.
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Key report insights suggest:
- Global sorbitol market size was estimated at 1.83 million tons in 2013 and is expected to register 2.34 million tons by 2020 growing with an estimated CAGR of 3.6% from 2014 to 2020.
- Cosmetics & personal care was the leading end-use segment accounted for 33.3% of the total volume in 2013. It is used for manufacturing personal care products such as toiletries and oral care products. Food emerged as second largest segment for end-use and is likely to witness a CAGR of 3.4% up to 2020.
- Diabetic and dietetic food & beverages was the leading application segment and accounted for 23.7% of the total demand in 2013. Increasing adoption of sugar free & low calorie artificial sweeteners by food & beverage manufactures is likely to fuel the demand. Toothpaste application was the second largest and is expected to grow at significant growth rates exhibiting CAGR of 4.2% from 2014 to 2020.
- Asia Pacific dominated the regional market and accounted for 51.1% of the total demand in 2013. Favorable government regulations and increasing FDI flow for personal care & pharmaceutical companies in countries such as China & India is expected to drive Asia Pacific’s demand. Europe was the second largest and is expected to witness sluggish growth rates of 2.6% owing to slowdown in pharmaceutical company’s growth in countries such as Italy, Spain and France.
- Moderately consolidated sorbitol market consists of MNCs & regional manufacturers present across the value chain. Key industry participants include Roquette Freres, Cargill, Merck and ADM. Other prominent companies include Danisco, Tereos Syral, Ecogreen Oleochemicals and inhuangdao Lihua Starch Co., Ltd
For the purpose of this study, Radiant Insights has segmented the sorbitol market on the basis of product, end-use, application and region:
Global Sorbitol Product Overview (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
- Liquid/Syrup sorbitol
- Crystal/Powder sorbitol
The report “Sorbitol Market Size, Price Analysis, Research Report, 2020” is available now to Radiant Insights customers and can also be purchased directly at http://www.radiantinsights.com/research/sorbitol-market
Global Sorbitol Application Overview (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
- Vitamin C
- Diabetic and Dietetic Food and Beverage
Global Sorbitol End Use Application Overview (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020),
- Cosmetic and Personal Care
Global Sorbitol Regional Overview (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
- North America
- Asia Pacific
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- Glycerol Market Research Report –http://www.radiantinsights.com/research/glycerol-market
About Radiant Insights
Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy.Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.
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Source: Radiant Insights