The global sugar alcohol market is expected to grow at a significant CAGR of 3.4% during the forecast period of 2022 to 2030
Reports and Insights (R&I) has published a new report titled, “Sugar Alcohol Market: Opportunity Analysis and Future Assessment 2022-2030”
Global Sugar Alcohol Market, By Type (Sorbitol, Erythritol, Mannitol, Xylitol, Isomalt, Lactitol, Others), By Source (Corn, Wheat, Rice, Potato, Cassava, Bagasse, Birch Wood, Others) By Application (Confectionery, Bakery Foods, Tabletop Sweeteners, Pharmaceuticals, Dairy Products, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2022 and 2030.
The global sugar alcohol market is estimated to reach at a value of US$ 4,181.5 Mn by the end of 2022 and expected to reach at a value of US$ 6,458.6 Mn by 2030 with a significant CAGR of 5.6%.
As per the report, sift of consumers towards healthier options across the world is majorly contributing to the growth of the global sugar alcohol market. As the consumers shift their preferences in food and beverages, the chronic diseases such as obesity and diabetes persist to impact dietary habits of consumers across the globe. Owing to which, the consumers are more inclined towards healthier food and beverages even after justifying the existence of offshore elements, majorly artificial sweeteners by food and beverages companies. This trend has elevated the global demand for nutritious sweeteners which has driven the growth of the global sugar alcohol market, as it consists of lower blood glucose response.
Basically, sugar alcohols are soluble, organic compounds generally derived from sugars and are found naturally in small quantities in fruits & vegetables. The rising obese and diabetic population across the world is one of the major factors driving the growth of the global sugar alcohol market.
More importantly, sugar alcohols also help in stimulating metabolism of diabetics, which has coupled its acceptance in the food and beverage industry. Owing to which, the product is expected to witness huge demand in the global market in the near future, thus projected to propel the growth of the global sugar alcohol market.
Moreover, due to the increasingly busy and hectic lifestyle of consumers, consumers are more likely to opt for processed food & beverages, which, in turn, escalates the growth of the global sugar alcohol market. However, several key manufacturers are facing complications in procurement of raw materials, creating cost-effective production techniques, and lowering the emission of volatile by-products as manufacturing of sugar alcohols is much more complex than that of artificial sweeteners. Such factors are projected to restrain the growth of the global sugar alcohol market.
Furthermore, consumers tend to buy only the essentials such as packaged food and other instant food products, due to the global COVID-19 epidemic situation and restrictions imposed all across the world by respective government authorities. This is affecting the growth of the confectionery and baked goods market, as well as the whole food and beverage industry, thereby it is expected to restrict the growth of the global sugar alcohol market.
R&I Study identifies some of the key participating players in the sugar alcohol market includes MacAndrews & Forbes Incorporated, Tate & Lyle PLC, Niutang Chemical Ltd., DuPont, A & Z Food Additives Co. Ltd, Cargill Inc., Atlantic Chemicals Trading GmbH, Fraken Biochem Co. Ltd., Beckmann-Kenko GmbH, Roquette Freres, Archer Daniels Midland Company, Sanxinyuan Food Industry Corp Limited, Ingredion Incorporated, and Mitsubishi Shoji Foodtech Co., Ltd., among others.
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