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Sugar Alcohol Market (2022 - 2028)

2022-05-0800

Report Overview

The global sugar alcohol market size was estimated at USD 3.42 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2022 to 2028. Rising demand for low carbohydrates coupled with growing health consciousness regarding food and beverages from consumers across the globe are expected to promote the sugar alcohol market growth over the next few years. Additionally, increasing obesity and diabetic patients among the population will further drive the industry demand. Sugar alcohol is an organic molecule produced from sugars with a hydroxyl group with carbon. Majorly used sugar alcohols are sorbitol, mannitol, xylitol, maltitol, glycerol, lactitol, arabitol, erythritol, isomalt, and hydrogenated starch hydrolysates (HSHs). The product is a low-calorie sweetener used for making sugar-free or low-sugar products such as food additives, toothpaste, medicines, and beverages.

During the COVID-19 pandemic and the subsequent lockdown situation, governments of various countries restricted, or citizens preferred to stay at home as a precautionary measure. Various festivals, sports events, exhibitions, and other public events were canceled across the world. Due to this overall production and supply chains were disturbed. Due to this, the market experienced a shortfall in sales due to restricted production, disturbed supply chains, and reduced demand. Considering this short slack in market revenue it is expected to witness a healthy market growth rate in the upcoming years after COVID restrictions.

Form Insights

The powder & crystal segment contributed the largest market share of more than 65% in 2021 and is forecast to grow with a CAGR of 5.1% from 2022 to 2028. Powder and crystal form of sugar alcohol offers simplicity to handle, transport, and store. Thus, powder and crystal form of sugar alcohol is widely used in preparing food and beverages products.

Liquid & syrup is forecast to register a faster growth of CAGR of 7.4% from 2022 to 2028. Liquid and syrup form of sugar alcohol has the property of high-water solubility. Thus, the liquid and syrup form is widely used in applications in pharmaceuticals and personal care. The liquid form of isomalt is consumed more than its powder or crystal for food processing.

Industry Vertical Insights

The food and beverage industry vertical contributed the largest share of more than 60% in 2021 to the global market revenue and is forecasted to grow with a CAGR of 5.6% from 2022 to 2028. Increasing health awareness among the citizens about diabetes and obesity will drive the segment growth as low-calorie sweets confectionaries, dairy, frostings, jams, syrups, sauces, and bakery products are getting popular. Thus, the food and beverages segment is contributing the most to global sugar alcohol market revenue.

The pharmaceutical industry vertical is estimated to register the fastest growth of CAGR of 7.0% from 2022 to 2028. The applications of sugar alcohol include producing hand sanitizers, medicines for diabetic patients, and protein supplements. Thus, this segment is expected to grow with the highest growth rate during the forecast period.

Contain Insights

The Sorbitol segment contributed to the largest revenue share of more than 35.0% in 2021 and is forecast to grow with a CAGR of 5.3% from 2022 to 2028. Sorbitol is one of the most popular sugar alternatives and is used for preparing sweets, oral products, and medicines. With increasing awareness among consumers and accepted sorbitol for applications across industries. With the increasing number of diabetic patients, this segment is expected to contribute the most to the market revenue.

Xylitol segment is forecast to grow with the highest CAGR of 6.9% from 2022 to 2028. The segment has become popular sugar alcohol as it has similarities to sucrose in terms of visually and taste. It is used for teeth treatments to reduce cavities as it is non-fermentable. It restricts the growth and reproduction of bacteria inside the mouth. Thus, it is widely used to produce oral care products which in turn will drive the segment growth during the forecast period.

Regional Insights

Europe contributed the largest market share of more than 35% in 2021 and is expected to grow by 5.0% from 2022 to 2028. Well-developed economic countries such as Germany, the U.K., and France are positively contributing to the market revenue. The large working population is experiencing busy lifestyles. Citizens are aware of the high consumption of table sugar and calories. Confectionary products and other sweet products are consumed most in this region. With increased health awareness and the benefits of sugar-free alcohol, the region is expected to contribute the largest market revenue share.

Asia Pacific is forecasted to grow with a CAGR of 7.8% from 2022 to 2028. Countries such as China and India are positively contributing to the growth of market revenue. The region has the largest growing population that adopting the western lifestyle and increasing the working number of citizens. Countries like China and India are the larger producers of sugar alcohol with many manufacturers operating across this region.

Key Companies & Market Share Insights

The market is characterized by the presence of various well-established players and several small and medium players. In April 2020, Ingredion launched ERYSTA, a polyol sweetener in Europe, the Middle East, and Africa (EMEA) region. This ERYSTA allows food and beverage manufacturers to produce products to reduce or replace table sugar. The sugar alcohol manufacturers are aggressively following the organic as well as inorganic strategies to expand their footprints across the geography. Some of the prominent players in the sugar alcohol market include:

Sugar Alcohol Market

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