Increasing incidences of obesity and diabetes encouraged the growth of sugar alcohol industry, globally. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Sugar Alcohol Market Research Report- Forecast to 2023 that the market will demonstrate high CAGR % while achieving million dollar growth during the forecast period.
Global Sugar Alcohol Market- Competitive Analysis
The Sugar Alcohol Market is competitive with major market players operating at the global level. The key industry players in the alternative sweeteners market have adopted the strategies such as geographic expansion, new product launch, acquisitions, agreements, and joint ventures to strengthen their business portfolio. Most of the companies operating in this market are focusing on expanding its operations across the geographies, augmenting its capabilities and investing in research and development to offer products with better functionality.
The key players profiled in Sugar Alcohol Market are as Cargill Inc, A & Z Food Additives Co. Ltd, Atlantic Chemicals Trading GmbH, Beckmann-Kenko GmbH, Fraken Biochem Co. Ltd., Roquette Freres, Sanxinyuan Food Industry Corp Limited, and Archer Daniels Midland Company among many others.
Global Sugar Alcohol Market– Segments
The global Sugar Alcohol Market has been divided into type, source, application, and region.
Based on Type: Sorbitol, Mannitol, Xylitol, Maltitol, Lactitol, Erythritol, Isomalt, and Others
Based on Source: Corn, Wheat, Rice, Potato, Cassava, Bagasse, and Birch Wood
On the Basis of Application: Tabletop Sweeteners, Confectionery, Bakery Foods, Pharmaceuticals, Dairy Products, and Others
On the Basis of Region: North America, Europe, Asia Pacific, and ROW.
Global Sugar Alcohol Market- Regional Analysis
The global sugar alcohol market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global sugar alcohol market is highly dominated by North America and Europe due to inclination towards low-calorie food products. APAC is fastest growing region due to changing lifestyle and improved disposable income in that region. The consumption of sugar alcohol market in developing counties like India and China is expected to grow in upcoming years.
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Sugar alcohols are low digestible carbohydrates which help in controlling blood sugar levels. The growing concern among consumers regarding obesity and diabetes accelerated the demand for sugar alcohols. They are safer substitutes for sugar as they are calorie-free and help in weight loss. According to World Health Organization, more than 1.9 billion adults - 18 years and above - were overweight, of which, 650 million were obese in the year 2016. In addition, approximately, 422 million population were living with diabetes in 2014, indicating the alarming rate at which obesity and diabetes are increasing among the population. Also, there is growing demand for low calorie-foods worldwide, which supported the growth of sugar alcohols market.