The global sugar alcohol market size was USD 3.61 Billion in 2019 and is projected to reach USD 9.07 Billion by 2032, exhibiting a CAGR of 7.13% during the forecast period based on our analysis in the existing report. Europe dominated the sugar alcohol market with a market share of 32.41% in 2019.

The market is likely to propel owing to the increasing consumption of gum confectionery products such as chewing gum. The polyols are added to various food products as a sugar substitute. The majority of the production of the polyol is consumed by the food and beverage end-user sector wherein, the bakery and confectionery hold the largest market share. Owing to the fast-paced lifestyle, consumers prefer sugar-free food products, which will aid market growth.

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What Does the Report Include?

This market report provides an extensive analysis of key factors such as drivers, restraints, challenges, and opportunities that will impact market growth in the coming years. It includes regional demographics with both qualitative and quantitative data, detailing the contributions of various countries to market expansion from 2020 to 2027. Additionally, the competitive landscape is thoroughly examined, covering information on major players in the market. The report also highlights strategies such as mergers and acquisitions, partnerships, collaborations, and joint ventures adopted by companies to fuel market growth during the forecast period.

Drivers and Restraints:

Growing Demand for Gluten-Free Food Products to Drive Market Growth

The popularity of gluten-free foods is rising globally, driven by benefits such as improved cholesterol levels, better digestive health, increased energy, and weight loss. This surge in demand has encouraged companies to introduce new products to meet consumer needs. Polyols like maltitol and sorbitol, commonly found in glucose syrups, are being widely used. Moreover, the increasing demand for corn-based glucose syrup, often marketed as gluten-free, is expected to further propel market growth during the forecast period.

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Regional Analysis:

Europe to Lead the Market; Rising Demand for Sugar-Free Confectionery Products

Europe is expected to remain the dominant region, contributing the highest revenue to the global sugar alcohols market during the forecast period. The region saw a market share of USD 1.23 billion in 2019 and is expected to grow further due to the increasing demand for sugar-free confectionery products. Additionally, a fast-paced lifestyle is driving the consumption of processed foods across European countries, supporting market expansion. North America is predicted to be the second-largest region, primarily due to the rising number of diabetic patients in the U.S. The ongoing effects of COVID-19 are also boosting demand for hand sanitizers, which will positively impact market growth during the forecast period.

The Asia-Pacific market is projected to experience significant growth, fueled by a large population and high production of polyols in countries like China and India, which will contribute to market expansion.

Competitive Landscape:

Collaborations to Combat COVID-19 and Promote Market Growth

The market consists of a mix of small, medium, and large companies all aiming to increase their market share by strengthening their positions during the forecast period. Companies are also collaborating to address challenges posed by the COVID-19 pandemic and help stabilize the global economy. For example, in March 2020, Gull New Zealand, a well-known petroleum company, announced plans to provide over 340,000 liters of ethanol and sugar alcohols to produce hand sanitizers, alleviating the scarcity caused by the pandemic and benefiting the market in the process.

LIST OF KEY PLAYERS PROFILED:

  • Archer-Daniels-Midland Co. (U.S.)
  • Cargill Incorporated (U.S.)
  • Ingredion Incorporated (U.S.)
  • Roquette Frères (France)
  • Tereos Starch & Sweeteners s.a.s (France)
  • Tate and Lyle plc (U.K.)
  • Pfizer Inc. (U.S.)
  • Lonza Group (Switzerland)
  • SPI Pharma (U.S.)
  • Merck KGaA (Germany)

Key Industry Developments:

  • December 2023: Brandt’s, a prominent U.S.-based manufacturer, introduced its new sugar alcohol product, Fenglihui Anjiachun, to the Chinese market. The product will be distributed by Beijing Xinhefeng Agricultural Materials.

  • August 2022: Psaltry International announced the opening of its cassava-based sorbitol production facility in Iseyin, Oyo state. This factory is the first of its kind in Africa and the second-largest globally, with a production capacity of 25 tons of sorbitol per day.

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