Future Market Insights (FMI), in its newly released data, estimates US$ 3.31 billion in revenue in 2023 for the sugar alcohol market. The market also holds the potential to surpass a valuation of US$ 4.59 billion by 2033. With the increased consumer demand for low-carbohydrate foods and beverages, market participants could anticipate a CAGR of 4.2% during the forecast period.
Consumer demand for low-calorie, sugar-free, and diabetic foods is increasing as the prevalence of lifestyle illnesses, such as obesity and diabetes, rises worldwide. Diabetes is growing more frequent in many countries, prompting people to be more conscious of their nutrition and health.
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The food and beverage end-user business, with bakery and confectionery accounting for the lion’s share of the market, consumes the majority of polyol produced. Customers prefer sugar-free foods due to their fast-paced lifestyles, which is expected to boost market growth.
More people are buying sugar-free and low-calorie food items, which are predicted to increase the usage of sugar alcohol in various food items. Sugar alcohol is also widely utilized in the preparation of different food products, including bakery products, confectionery, beverages, and sweet spreads, since it has a lower calorie content than actual cane sugar.
The top businesses are producing fresh products with little or no sugar by employing sugar alcohol to give other goods the same texture and flavor, which is accelerating market expansion. Consumer desire for healthier substitutes for unhealthy elements in junk food, such as ice cream with protein, fewer calories, decadent flavors, and sugar alcohols, is on the rise. This demand is fueling the market expansion.
Sugar alcohols play a significant part in the entire formulation of pharmaceutical preparations as both an excipient and an active ingredient. Active pharmaceutical ingredients (API) for addressing constipation have traditionally included polyols. Polyols are often used as excipients in contemporary formulations, including consumer-friendly lozenges and chewable tablets.
The sugar alcohol market is dominated by Europe. The pharmaceutical industry share is higher in European nations. Given this, sugar alcohols are used to create tablets, syrups, and soft gels. For use in low-calorie confections and baked goods, sugar alcohols are highly sought-after in this region.
KEY TAKEAWAYS
- The market in the United Kingdom is anticipated to rise, exhibiting a CAGR of 6.4% through 2033.
- The United States is expected to develop at 4.4% CAGR during the forecast period.
- With a CAGR of 5.4% over the forecast period, Spain is predicted to develop rapidly in the market.
- The market in China is expected to proliferate, registering a CAGR of 4.7% over the forecast period.
- Germany is estimated to grow decently, registering a CAGR of 7.0% until 2033.
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COMPETITIVE LANDSCAPE
Top players operating in the sugar alcohol market are Tate & Lyle Plc., Archer Daniels Midland Company, DuPont, Cargill, Inc., BENEO GmbH, Roquette Freres, Ingredion Incorporated, Beckmann Kenko GmbH, Mitsubishi Shoji Foodtech Co. Ltd., Fraken Biochem Co. Ltd., A&Z Food Additives Co. Ltd., SPI Pharma, Lonza Group, Atlantic Chemicals Trading GmbH, and others.
These market players are actively involved in developing innovative products and expanding their production capabilities to cater to the increasing demand for low-calorie and natural sweeteners. They are investing heavily in research and development to create new sugar alcohol formulations that mimic the taste and texture of traditional sugars while providing a healthier alternative to consumers.
RECENT DEVELOPMENTS
- In November 2022, ERYTESSETM Erythritol was introduced by Tate & Lyle PLC as a novel sweetener. This expansion broadens its capacity to assist clients in meeting consumer demand for healthier, sugar- and calorie-reduced goods owing to a distribution partnership deal with a top supplier of erythritol.
- In April 2020, ERYSTA® Erythritol, a new polyol sweetener, was introduced by Ingredion EMEA. Manufacturers can accomplish nutrition-related claims, including “no added sugar” or “calorie-reduced,” by reducing or replacing sugar with sweetener in a variety of applications.
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Sugar Alcohol Market Key Segments
By Product Type:
- Sorbitol
- Xylitol
- Maltitol
- Lactitol
- Erythritol
- Isomalt
- Mannitol
- Others
By End-use Industry:
- Food & Beverages
- Pharmaceuticals
- Others
By Application:
- Bakery Goods
- Sweet Spreads
- Confectionery & Chewing Gum
- Beverages
- Dairy Products
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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