Growing Demand for Bakery and Confectionery Products to Drive Sugar Alcohol Industry
The global sugar alcohol market is expected to exhibit a high CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The report provides a detailed outlook of the global sugar alcohol market’s historical growth trajectory and also profiles key market drivers and restraints likely to have a lasting impact on the industry in the coming years. Major players operating in the global sugar alcohol market are also profiled in the report.
Sugar alcohols are derived mostly from natural sugars or starch and are used widely as sweeteners in bakery and confectionery products, among other food and beverage products. The growing demand for sugar alternatives is likely to be a major driver for the Sugar Alcohol Industry over the forecast period. Sugar alternatives have come into vogue in recent years due to the growing awareness about adverse impact of sugar on the human body. Sugar has been linked conclusively to diabetes, obesity, as well as cardiovascular diseases, which has made consumers more aware about the adverse effects of sugar consumption. This has driven up the demand for alternatives such as sugar alcohols. Sugar alcohols present a sweet taste without the calorific load of sugar, which has made them valuable as sugar alternatives in the commercial food and beverage industry. The increasing burden of diabetes is likely to drive the sugar alcohol market at a strong growth rate over the forecast period.
The growing packaged food industry is also likely to be a major driver for the global sugar alcohols market over the forecast period. Sugar alcohols are rarely used in place of table sugar, and are rather more familiar to industrial users of sugar, such as packaged food and beverage manufacturers. Growing demand for packaged bakery and confectionery products has been a major driver for the global sugar alcohol market over the last few years. Bakery and confectionery products require sugar in large volumes to achieve the sweetness desired by consumers. However, the growing awareness about the adverse effects of sugar has driven manufacturers to use alternatives such as sugar alcohols. This is likely to be a major driver for the global sugar alcohol market over the forecast period.
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Competitive Analysis:
Leading players in the global sugar alcohol market include Mitsubishi Shoji Foodtech Co. Ltd., Ingredion Inc., Archer Daniels Midland Company, Sanxinyuan Food Industry Corp. Ltd., Roquette Freres, Fraken Biochem Co. Ltd., Beckmann-Kenko GmbH, Atlantic Chemicals Trading GmbH, A&Z Food Additives Co. Ltd., and Cargill Inc. Leading players in the global sugar alcohol market are expected to focus on product capacity advancement in the coming years, as the demand for sugar alcohols is likely to grow at a high growth rate over the forecast period.
Segmentation:
The global sugar alcohol market is segmented on the basis of type, source, application, and region.
By type, the global sugar alcohol market is segmented into sorbitol, mannitol, xylitol, maltitol, lactitol, erythritol, isomalt, and others. The sorbitol segment accounts for the largest share in the global sugar alcohol market and is likely to remain the largest segment over the forecast period. Sorbitol is widely used as a sugar alternative in the production of beverages, which has driven its demand at a strong growth rate.
By source, the global sugar alcohol market is segmented into corn, wheat, rice, potato, cassava, bagasse, and birch wood. The corn segment is likely to remain the leading revenue generator over the forecast period.
By application, the global sugar alcohol market is segmented into tabletop sweeteners, confectionery, bakery foods, pharmaceuticals, dairy products, and others. The bakery and confectionery segment holds the largest share in the global sugar alcohol market, with the pharmaceutical segment also expected to exhibit strong growth over the forecast period.
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Regional Analysis:
North America, led by the U.S., is likely to remain the largest regional market for sugar alcohols over the forecast period. Asia Pacific is also likely to be an important regional market and is expected to exhibit steady growth at a strong growth rate over the forecast period. The Asia Pacific market is expected to exhibit the fastest growth of all regional markets over the forecast period.
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