Global Sorbitol Market is Expected to Reach USD 3 Billion in 2018: Transparency Market Research
Albany, New York (PRWEB) February 22, 2013
Sorbitol is being increasingly explored as a platform chemical for production of polyols such as ethylene glycols, propylene glycols and glycerols which are predominantly derived from petrochemicals. Sorbitol's product base is more or less the same as compared to polyols and isosorbides.
Thus, the increasing application scope for polyols and isosorbides provides significant potential for sorbitol downstream processing.Key products analyzed and estimated in this study include liquid/syrup and crystal/powder sorbitol. Liquid sorbitol presently dominates the product market and accounted for 83.3% of the overall demand in 2011.
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Key applications analyzed and estimated in this study include toothpaste, Vitamin C, diabetic & dietetic F&B and surfactants. Diabetic & dietetic F&B and toothpaste are key applications for sorbitol and accounted for 23.6% and 21.3% of the overall demand in 2011. Vitamin C application follows diabetic & dietetic F&B and toothpaste and in terms of volumes, is expected to grow at a CAGR of 3.5% from 2012 to 2018.
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In terms of consumption, Asia Pacific dominates the global market and accounted for over 50% of the overall demand in 2011, this demand is mainly distributed across China, Japan, India and Indonesia. Increasing demand for low calorie sweeteners, especially from the U.S. and the European Union is expected to drive sorbitol demand over the next five years. European sorbitol revenues are expected to grow at a CAGR of 12.5% from 2012 to 2018. However, product pricing has emerged as a key challenge to the industry, with bulk prices soaring by over 20% from the 2010 levels.
Price fluctuations have primarily been caused by poor weather forecasts and tight inventories owing to the rising demand in increasing applications across various domains. Recent volatility in basic raw material prices in recent times has emerged as a critical challenge for this market.
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The study also provides extensive regional segmentation and data on the sorbitol market, wherein the demand for various applications and end user industries as well as key countries has been forecasted for North America (U.S., Canada and Mexico), Europe (Germany, UK, France and Russia), Asia Pacific (China, Japan, India and Indonesia) and Rest of the World.
Key market participants profiled in this report include Archer Daniels Midland, Roquette Freres, Cargill Inc, Ecogreen Oleochemicals, SPI Pharma, Sigma- Aldrich, Gulshan Polyols and Sorini.
This research analyzes and estimates the performance and demand of sorbitol in the global scenario, providing detailed trend analysis of the market, segmentation by product, application and region along with a comprehensive competitive landscape.
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