The global sorbitol market is projected to reach USD 1.42 Billion by 2021, at a CAGR of 5.3% from 2016 to 2021. Globally, the sugar consumption level is high, and people are well informed about the associated risks. Thus, they tend to buy low- or zero-calorie foods that are manufactured by using sugar substitute products such as sorbitol in food & beverages. Sorbitol is used in several applications, mostly in cosmetics & personal care applications owing to rising consumer awareness regarding health and safety risks posed by synthetically derived personal care products.
Companies operational in the sorbitol market adopted strategies, such as expansions, mergers & acquisitions, partnerships & joint ventures, and new product launches to achieve growth in the market. Some of the key players, including Roquette Frères (France), Cargill Inc. (U.S.), Ingredion Incorporated (U.S.), Tereos Starch & Sweeteners (France), Archer Daniels Midland (U.S.), SPI Pharma Inc. (U.S.), Ecogreen Oleochemicals Pte. Ltd. (Singapore), Merck Group (Germany), Sukhjit Starch & Chemicals Ltd. (India), and Gulshan Polyols Ltd. (India) have adopted these strategies to develop their businesses, globally.
Roquette Frères (France) is a leading player in the global sorbitol market. As part of its growth strategy, in April 2012, the company acquired the starch operations of Riddhi Siddhi Gluco Biols Ltd. (India) and formed Riddhi Siddhi Corn Processing (India) for the production of starch derivatives such as sorbitol. This acquisition strengthened the company’s global position in the nutrition, health, and plant-based chemistry segments.
Cargill Inc. (U.S.) is another major manufacturer of elastomers in the U.S. and one of the largest producers across the globe. As a part of its business strategy, the company focuses on expansion. The company focuses on the manufacturing of high-quality derivatives of starch such as sorbitol, by employing state-of-the-art technology and improving the efficiency of its operations. In January 2016, the company expanded its production capacity of its plant in Karnataka (India) and spreads to the capacity of 800 tons of corn milling daily. Cargill Inc. is focusing on expanding its business globally, through expansion in the sorbitol market.
Sorbitol Market by Product Type (Liquid/Syrup Sorbitol, and Crystal/Powder Sorbitol), Application (Cosmetics & Personal Care, Food & Beverage, Pharmaceuticals, Chemicals), and Region - Global Forecast to 2021
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