The new report by Expert Market Report titled, ‘North America Sorbitol Market Growth, Size, Share, Price, Trends, Report and Forecast 2021-2026’, gives an in-depth analysis of the North America sorbitol market, assessing the market based on its segments like applications, and end-uses. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 46 million
- Forecast CAGR (2021-2026):3%
- Forecast Market Size (2026): USD 3 billion
The sorbitol market in North America is being driven by the country’s constantly developing food and beverage industry, with customers seeking goods with less or no sugar. Obesity was estimated to affect about 37.7% of the US population in 2017. The government is attempting to discourage people from purchasing high-sugar items in order to combat the rising rate of obesity in the country’s population. Wide applications of the polyol in diet sodas and sugar-free juices, and government policies such as the sugary beverage tax or soda tax in major US cities are boosting sorbitol market growth.
The sorbitol market is also being propelled forward by the improving economy and the predicted increase in the region’s high-income class population. Polyols are expected to rise in unison with the region’s projected steady growth in the oral care segment, as they are frequently used as a sweetener in toothpastes.
North America is the world’s largest cosmetics market, and the industry is likely to continue growing in the next few years, thus increasing the sorbitol market. Consumption of premium and organic cosmetics is increasing as a result of greater disposable income, which benefits the market. Due to its increasing use in the personal care and pharmaceutical industries in the United States, the anticipated growth in the polyol industry will benefit the North American sorbitol market as well.
Industry Definition and Major Segments
Sorbitol, like xylitol and mannitol, is a sugar alcohol classified as a polyol. It is present in a range of foods, including apples and peaches, as well as plants, including seaweed and corn. Chemically, it can be produced by hydrogenating D-glucose to form D-sorbitol. The polyol is available in two forms: liquid and powder. Sorbitol is used as a sweetener, humectant, stabiliser, emulsifier, and softener in household and personal care products. Additionally, it is utilized to keep toothpaste from drying out.
By end-use, the market is divided into:
- Food and Confectionaries
- Cosmetics and Toiletries
- Industrial Surfactants
By Application, the industry is categorized into:
- Frozen Food
- Dietary Supplements
- Cosmetics and Personal Care
The United States dominates the sorbitol market in North America and is the second largest producer of sorbitol in the world, behind China. Currently, the polyol is obtained only from corn in the United States. As a result, the sorbitol market in the country is highly dependent on the climate in which corn is farmed. The United States is the world’s largest producer of corn, accounting for approximately 36% of global corn production. Between 2017 and 2018, the country produced 371 million metric tonnes of corn.
Despite the fact that the feedstock used to produce sorbitol is dependent on the availability of particular feedstocks such as corn, wheat, or cassava, corn continues to be the most widely used feedstock globally. Between 2017 and 2018, global corn production totaled approximately 1,045 million metric tons. Production is expected to expand steadily in the next few years, providing a boost to the global sorbitol sector.
Globally, sorbitol is mostly utilized in toothpastes, meals, and beverages. Additionally, it is extensively used in the manufacture of vitamin C. In the forecast period, the toothpaste end-use category is predicted to grow rapidly, especially in emerging nations. As awareness of sugar-related health risks such as obesity and type-2 diabetes grows, the sorbitol sector is likely to benefit from its use as a sugar substitute.
According to the WHO, around 13% of the global population was obese in 2016, and the prevalence of type-2 diabetes has risen substantially over the last three decades. The United States is a significant producer and consumer of sorbitol on a global scale. Along with China, India, Germany, and Indonesia, the country exports excess output, making it a significant exporter of polyols. In the United States, the sorbitol sector is highly concentrated, with the three largest corporations accounting for more than 90% of total sorbitol production.
Key Market Players
The major players in the market are Roquette Frères SA, Cargill, Incorporated, Ingredion, Incorporated, Archer Daniels Midland Company, Tereos Starch & Sweeteners, among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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