Polyol Sweeteners Industry | Market Forecast Types, Region and Competition Analysis to 2023

Polyol Sweeteners Market Research Report: Information by Type (Xylitol, Erythritol, Sorbitol, Isomalt, Maltitol and others), Form (Solid and Liquid), Application (Food & Beverages [Bakery and Confectionery, Dairy and Frozen Desserts, Beverages, Sweet and Savory Snacks and others], Pharmaceuticals and Nutraceuticals, Personal Care and others) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2024

Key Players

Some of the key players in the global polyol sweeteners market are Ingredion Incorporated (US), DuPont de Nemours (US), Tereos (France), Mitsubishi Shoji Foodtech Co., Ltd. (Japan), Roquette Freres S.A. (France), Batory Foods (US), Gulshan Polyol Limited (India), American International Foods Inc. (US), Südzucker (Germany), Cargill (US), Beckman Kenko (Germany), Archer Daniels Midland Company (US), Fraken Biochem (China), DFI Corporation (US), Novagreen Inc. (Canada), and Jungbunzlauer Suisse AG (Switzerland).

Market Highlights

Polyol sweeteners are a category of low-calorie sweeteners used as a flavoring agent, bulking agent, and humectant. 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. Surging demand for healthy and low-calorie products among the global populace has rendered the market lucrative for the manufacturers of polyol sweeteners. 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.

Key Developments

In December 2016, Archer Daniels Midland Company expanded its production capacity for sweeteners and starches in Bulgaria and Turkey to cater to the rising demand for polyol sweeteners in the Middle East.

In December 2016, Cargill expanded its presence in China by introducing an innovation center in China to produce innovative and new flavored products such as sweeteners, starches, animal protein, edible oils, and cocoa.

Segments

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 sorbitol segment is projected to dominate the market and register the highest growth rate during the forecast period. 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. It is used in personal care and cosmetics as a flavoring agent, artificial sweetener, and to retain moisture. It is also used to regulate proper bowel movement by functioning as a laxative and drawing water into the large intestine.

The global polyol sweeteners market has been bifurcated, by form, into solid and liquid. The solid segment is expected to garner a larger revenue share and register the higher CAGR as solid (powdered) polyols as sweeteners are easy to manufacture and use in food & beverages applications. 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. The food & beverages segment is expected to garner the largest revenue share of the global polyol sweeteners market throughout the review period. The dominance of the segment can be attributed to the increasing demand for bakery and confectionery products, an application in which polyol sweeteners are widely used. Increasing consumer preferences for low-calorie products are driving the growth of food & beverages segment as polyol sweeteners are suitable low-calorie artificial sweeteners. However, the pharmaceuticals and nutraceuticals segment is projected to exhibit the highest growth rate during the forecast period due to the increasing adoption of polyol sweeteners as a substitute for sucrose syrup to decrease the risk of dental decay. In addition, these artificial sweeteners are also used as a bodying agent in tablets, syrups, and elixirs.

Some of the strategies followed by the players operating in the market were innovations, product launches, mergers, acquisitions, distribution agreements, and joint ventures.

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Regional Analysis

The global polyol sweeteners market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.

The market in Europe is expected to attain the lion’s share of the global polyol sweeteners market owing to the rising health awareness among consumers and increasing preference for low-calorie products. However, polyol sweeteners market trends in Asia-Pacific are expected to render an impressive growth rate in the region. The growth of the regional market can also be attributed to the easy availability and affordability of polyol sweeteners and the rising awareness among consumers regarding the benefits of consuming low-calorie products.