New York, Feb. 12, 2020 (GLOBE NEWSWIRE) — The global sorbitol market is expected to reach USD 2.18 Billion by 2027, according to a new report by Reports and Data.
Growing inclination towards organic cosmetic products is likely to drive market growth. Sorbitol is used as a humectant as well as a thickening agent, among others, in cosmetics. As a humectant, sorbitol checks loss of moisture by drawing water from the air through osmosis, thus maintaining the moisture level of both the skin and the hair. Moreover, it finds frequent use in gel products, owing to its ability to retain moisture. As a thickening agent, it sees widespread application in the cosmetics, owing to their ability to impart preferred utility features such as viscosity, consistency, or adhesion, to the products.
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Surging growth of the food & beverage is playing a significant role in boosting the market demand. Sorbitol finds usage in the production of baked goods, confectionery, and chocolate, where products possess a tendency to harden or become dry due to its property to retain the moisture content of the product. Its moisture-stabilizing features, helps in maintaining the initial freshness of the products during storage, thereby increasing their shelf-life. Also, sorbitol is very stable as it can bear high temperatures and compatible with other food ingredients, including sugars, proteins, gelling agents, and vegetable fats, as well as other sweeteners.
Additionally, increasing demand for sorbitol in personal care products is likely to impact the market growth. It is mostly in toothpastes and mouthwash products as a moistener as well as a binding agent.
Further key findings from the report suggest
- By product type, liquid sorbitol contributed to a larger market share in 2018 and is likely to grow at a rate of 6.1% in the forecast period. The high market demand for liquid sorbitol is owing to its increasing demand as sweetener in the food & beverage and pharmaceutical industry. Besides, economical production cost and ease of use of this product type are responsible for its high market share.
- By application, sweeter held the largest market share in 2018 and is projected to grow at a rate of 5.1% in the forecast period.
- By industry vertical, the food & beverage industry dominated the market in 2018 and is forecasted to experience a growth rate of 5.4% in the period 2019-2027. Sorbitol finds extensive application in the food & beverage industry as a sweetener, humectant, and bulking agent, among others.
- The market in North America region accounted for the second-largest market share in 2018 and is estimated to grow at a rate of 5.0% in the forecast period. The demand for sorbitol in North America is attributed to the growing awareness about the dietary supplements as well as their nutritional advantages amongst the consumer in the region.
- Key participants include America International Foods Inc., Archer Daniels Midland, Cargill Inc., DuPont, Merck KGaA, SPI Pharma, Roquette Frères, Tereos Starch & Sweeteners, Ecogreen Oleochemicals Pte. Ltd., and Gulshan Polyols Ltd., among others.
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global sorbitol market on the basis of product type, application, industry vertical, and region:
Product Type Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Liquid Sorbitol
- Powder Sorbitol
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Sweetener
- Flavoring Agent
- Bulking Agent
- Humectant
- Others
Industry Vertical Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Food & Beverage
- Cosmetics & Personal Care
- Pharmaceuticals
- Others
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Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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