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SAN FRANCISCO, CA--(Marketwired - Feb 26, 2016) - According to a new report by Grand View Research, the global sorbitol market is projected to reach $3.99 billion by 2020. Sorbitol is a preferred sugar substitute in food & beverages since it has natural sweetening properties and lower caloric values. Moreover, increased health awareness is expected to boost market demand during the forecast period (2014 - 2020).
The biggest end-use application segment was personal care products and cosmetics. In 2013, it accounted for around 600 kilo tons of sorbitol demand. Softening and stabilizing properties of sorbitol are the main reasons for its growing usage in the above applications. Sorbitol is also used as a preservative & low-calorie sweetener in foods, which accounted for approximately 537.9 kilo tons of its demand in 2013.
Browse full research report with TOC on "Sorbitol Market Analysis by Product (Systems, Tags), and Segment Forecasts To 2020" at: http://www.grandviewresearch.com/industry-analysis/sorbitol-market
Further key findings from the study suggest that in 2013, the global sorbitol demand was 1,829.5 kilo tons and is projected grow at a CAGR of 3.6% during the forecast period reaching demand of 2,337.3 kilo tons by 2020.
Liquid sorbitol is an extensively used product since it is cheaper than crystal sorbitol and has a simplified manufacturing procedure. It accounted for over 1,524.7 kilo tons of demand in 2013. Toothpaste is the fastest-growing application sector, since sorbitol helps prevent oral problems, at an approximate CAGR of 4% from 2014 to 2020.
In 2013, Asia-Pacific was the largest regional market with the overall revenue of $656.9 million. China, being the biggest vitamin C producer, has the highest demand. Moreover, this region is also likely to witness a rapid growth, at an approximate CAGR of 4.2% over the forecast period.
Cosmetic & personal care products along with some chemical applications are projected to grow rapidly at an approximate CAGR of 3.9% over the forecast period.
Gulshan Polylols Ltd., Sorini, Merck, Sigma-Aldrich, and SPI Pharma are some of the major companies in the global sorbitol market. Archer Daniels Midland, Roquette Freres and Cargill are the companies that together accounted for 70% of the overall market share in 2013.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.