Industry Insight
Global polyol sweeteners market 2020 across the world amid Coronavirus pandemic is projecting to regain its position. The market has exceeded even optimistic forecasts by covering revenue of USD 3.6 billion by 2027. This revenue can be generated at a growth rate of 6%. The futuristic growth of the market is labelled for the years from 2020 to 2027, as reported in a study by Market Research Future. Global polyol sweeteners market is shaping up to be one of the prevalent business winners of the Covid-19.
Polyols, also known as sugar alcohols, are a class of organic compounds that are popular as low-calorie sweeteners. These compounds can be found in a wide variety of products, ranging from foods and beverages to pharmaceuticals and cosmetics. Polyols are used as sugar substitutes because they provide fewer calories than other sweeteners, such as table sugar.
In recent years, the demand for polyol sweeteners has been increasing significantly due to their low-calorie properties. This is particularly true in the food and beverage industry, where they are used in products such as beverages, confectionery, and ice cream. This trend is expected to continue in the coming years, as health-conscious consumers are increasingly looking for healthier alternatives to sugar.
The global polyols sweeteners market is estimated to be worth around USD 3.6 billion in 2020. The market is expected to grow at a CAGR of 6% during the forecast period (2020-2027). The growing demand for low-calorie sweeteners, increasing health awareness among consumers, and the growing demand for organic and natural sweeteners are some of the key factors driving the growth of the market.
Segment Review
The global polyol sweeteners market Trends is studied under the segmentation of type, form, and application.
By the segment of type, the global polyol sweeteners market has been classified as erythritol, xylitol, isomalt, sorbitol, maltitol, and others.
By the segment of form, the global polyol sweeteners market has been bifurcated into solid and liquid.
The application has also segregated the polyol sweeteners market into pharmaceuticals and nutraceuticals, food & beverages, personal care, and others. Among these, the food & beverages segment has further included dairy and frozen desserts, bakery & confectionery, sweet and savoury snacks, beverages, and others.
Regional Framework
The global polyol sweeteners market is studied concerning some essential regions such as Europe, North America, Asia-Pacific, and the rest of the world.
The Asia Pacific is estimated to emerge as an extremely lucrative market for polyol sweeteners. The growing demand from countries such as India, Japan, China, Australia and the Rest of Asia Pacific is possible to enable growth in the market. It is also predictable to exhibit an elevated rate of growth compared to other regions. The boost in health problems caused by the consumption of sugar-based products and the mount in purchasing power besides escalating applications such as oral care and pharmaceuticals will support the expansion of the market in the Asia Pacific.
In North America, the market will gain from the prevalence of a high degree of health awareness. The higher incidence of diabetes would also support industries to use polyol sweeteners market share. As per Market Research Future, North America currently holds dominance in the global market of polyol sweeteners.
Vendors Landscape
In key polyol sweeteners market players, the critical vendors are Cargill (US), Ingredion Incorporated (US), Archer Daniels Midland Company (US), Roquette Freres S.A. (France), Gulshan Polyol Limited (India), Jungbunzlauer Suisse AG (Switzerland), Südzucker (Germany), Batory Foods (US), Fraken Biochem (China), Mitsubishi Shoji Foodtech Co., Ltd. (Japan), and DFI Corporation (US).
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The global polyol sweeteners market is expected to garner a revenue of USD 3.6 Billion by 2024 at a CAGR of 6% during the forecast period of 2019–2024.
To cater to the increasing demand for polyol sweeteners and the changing consumer preferences, the market players are focusing on their research and development activities to launch new and innovative products in the global market.
Manufacturers of polyol sweeteners are also introducing safe and healthier sugar substitutes in the market to exploit the emerging growth opportunities and gain a higher edge in the competitive market.The global polyol sweeteners market is segmented by type, form, and application.Based on type, the global polyol sweeteners market has been segmented into xylitol, erythritol, sorbitol, isomalt, maltitol, and others.
The segment growth can be attributed to the surging demand of sorbitol in various applications as a polyol artificial sweetener, mainly personal care and cosmetics.
Additionally, solid polyol sweeteners are easy to handle, require less space, and incur less transportation cost as compared to liquid polyol sweeteners.Based on application, the global polyol sweeteners market has been segmented into food & beverages, pharmaceuticals and nutraceuticals, personal care, and others.
The food and beverages segment is further segregated into bakery and confectionery, dairy and frozen desserts, beverages, sweet and savory snacks, and others.
