The predicted value of the worldwide mannitol market in 2022 was close to US$ 418.65 million. According to predictions, the sector would benefit from reasons such as a growing population, changing lifestyles, and an increase in certain ailments. As a result, it is predicted to have made US$ 890.31 million by 2033 and to grow at a 7.1% CAGR from 2023 to 2033.
The mannitol industry is expanding as a result of the rising prevalence of diabetes. It is expected that its use as a sweetener in food and beverages will rise because it does not markedly elevate blood sugar levels. The global mannitol market is also gaining from growing consumer awareness of health issues because mannitol is a low-calorie and non-cariogenic component. Growth is being driven by the increase of uses for confectionery. Owing to its cooling properties, gums and mint-flavored candies are using it more and more.
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Juices, bottled drinks, and flavoured drinks are becoming more and more popular worldwide. Sugar is used in the great majority of beverage items. Flavoured drink manufacturers use sugar to improve the mouthfeel and flavour of their products. Regular sugar contains more calories in drinks. An increasing number of consumers are making an effort to reduce their intake of calories, carbohydrates, or specific sugars due to the growth in various chronic conditions such as obesity and diabetes. Producers of beverages are resorting to sugar alcohols in order to keep up with the evolving market. As a result, the requirement for mannitol in the beverage industry is increasing.
Key Takeaways:
- Through 2033, it is expected that the United States would control more than 63.5% of share of the North America.
- In 2023, it is anticipated that the UK mannitol market would be worth US$12.4 million.
- It is anticipated that by 2033, Latin America would consume more than 35.5% of all mannitol consumed worldwide.
- The most popular form, crystal, currently has a dominant market share of over 64% and is anticipated to increase at a CAGR of 7.25% from 2023 to 2033.
- During the projection period, the pharmaceutical industry is anticipated to grow at a 7.91% annual rate.
“The market for mannitol is expanding as a result of the increased prevalence of diabetes. Its usage as a sweetener in food and drinks is projected to rise because it does not produce an enormous rise in blood sugar levels,” – remarks an analyst at FMI.
Competitive Landscape:
Manufacturers in emerging nations like the Middle East, as well as the Asia Pacific, have improved their capacity for research in preparation for the launch of new products. In turn, this has opened up the potential for a worldwide market for low-intensity sweeteners.
Key businesses throughout the world are concentrating on expanding their footprint in response to the rising demand for mannitol. They are concentrating on working with regional players in order to increase their worldwide reach. This tactic is not just effective in underdeveloped nations. Instead, some of the top producers in advanced nations are seeing teamwork as a crucial tactic to acquire a competitive edge.
Prominent Players are:
- Roquette Frères Company
- Cargill Inc.
- SPI Pharma
- Qingdao Bright Moon Seaweed Group Co.
- Spectrum chemical manufacturing corp.
- Hebei Huaxu Pharmaceutical Co. Ltd
- Rongde Seaweed Co., Ltd
- Ingredion Incorporated
- Zuchem Inc.
- Akhil Healthcare (P) LTD.
- Pfizer
Some key developments in this market are:
- In 2023, Ingredientpharm grants SPI Pharma, Inc. (SPI), a pioneer in the world of supplying specialized products to the pharmaceutical business, exclusive distribution rights for two things-mCELLETS® MCC pellets as well as TAP® tartaric acid pellets. Directly compressible Ibuprofen DC100 distribution rights were also given exclusively to SPI. The exclusive rights to distribute throughout North America, New Zealand, Latin America, and Australia are part of this arrangement. In these areas, SPI intends to offer the MCC pellets as ACTILLETSTM MCC pellets.
More Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the global mannitol market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the mannitol market, the market is segmented on the basis of mannitol by form (powder, crystal), end use (food, beverages, pharmaceuticals) and across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Key Segments Profiled:
By Form:
- Powder
- Crystal
By End-Use:
- Food
- Bakery Goods
- Sweet Spreads
- Confectionery
- Dairy Products
- Canned Food
- Beverages
- Carbonated Drinks
- Fruit Drinks & Juice
- Powdered Drinks and Mixes
- Pharmaceuticals
- Solid Dosage Forms
- Lyophilized Preparations
- Medicated Confectionery/ Medicated Chewing Gum
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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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