Sugar Alcohol Market Growth is Sustained by Applications in Functional Food & Beverage Formulations: Future Market Insights
Market players are investing in growth of manufacturing capacities along with r&d to increase product portfolios with low-calorie, nutritive offerings in compliance with regulatory standards.
DUBAI, UAE / ACCESSWIRE / November 25, 2020 / Future Market Insights:The global sugar alcohol market is poised to grow at a steady CAGR between 2020 and 2030. Swift rise in cases of diabetes and obesity worldwide, has encouraged consumers towards healthy living. This has resulted in a shift towards sugar alcohols in food & beverage formulations rather than conventional sweeteners. Nutritive, low-calorie sugar alcohol products are gaining traction in the urban setting, who are more disposed towards lifestyle-based ailments.
"While food and beverage producers continue to utilize artificial sweeteners, customers continue to pursue healthy substitutes, which consecutively has supported the demand for polyols that offers consumers sweet flavorings along with nutritive benefits that will fuel demand in the market." comments the FMI analyst.
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Sugar Alcohol Market - Key Highlights
- Europe is anticipated to remain the rapidly growing region throughout the forecast period.
- Sorbitol product type to record a steady CAGR over the assessment period.
- Bakery & confectionary application segment to generate significant revenues in the global market.
- Food & Beverage to exhibit increased sugar alcohol use in contrast to other categories.
Sugar Alcohol Market - Drivers
- The ease of accessibility of processed foods and beverages is complimenting the market growth.
- Shifting consumer's preference and adopting healthy diet options are boosting the market significantly.
- Extensive use of sugar alcohol in improving the product's shelf life is generating growth prospects in the market.
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Sugar Alcohol Market - Restraints
Creating cost-effective production techniques, procurement of raw materials, and dropping the emission of volatile by-products emerge as some key challenges in the global market.
Sugar alcohol production is complicated as compared to artificial sweeteners, which acts as a huge challenge in the global market.
COVID-19 Impact on the Market
The consumption of sugar alcohols in the manufacturing of hygiene products such as hand sanitizers is likely to fuel the demand amid the COVID-19 outbreak that could be accredited to growing number of patients, and surging-levels of contagiousness of the virus. Usage in the pharma industry is also likely to foresee an uptick. However, its usage in the food and beverage industry will foresee a decline amid the crisis due to increased expenditure on ready-to-eat foods and essentials.
The global market for sugar alcohol is hugely fragmented with the presence of many global and regional producers that has led into a competitive market scenario. Some of the major companies operating in the market include DuPont, Cargill Inc., Archer Daniels Midland Company, BENEO GmbH, Ingredion Inc., Mitsubishi Shoji Foodtech Co. Ltd., A & Z Food Additives, Roquette Freres, and Beckmann Kenko GmbH. Companies are working on the production capacity extension, which will prove to be beneficial in strengthening market presence
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About the Study
The study offers readers a comprehensive assessment of the sugar alcohol market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of product type (sorbitol, mannitol, xylitol, maltitol, lactitol, erythritol, isomalt, and others), end user(food & beverages, pharmaceuticals, and others), and application (bakery goods, sweet spreads, confectionary & chewing gum, beverages, dairy products and others), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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