H1 2023: In H1 2023, prices of Sorbitol went up and down in the Asia Pacific region. Initially, a drop in demand from end-use sectors led to a decline in prices in the first month, exacerbated by a slowdown in demand caused by China's spring festival. The pharmaceutical industry continued to be the primary driver of this market dynamics. Toward the quarter's end, the cost of producing Sorbitol in the region rose due to increasing prices of feedstock. Challenges in transporting feed between sources and producers arose due to backed-up cargo and congested ports. Moving into the second quarter, the collective market price of Sorbitol significantly declined, influenced by weak demand. The initial uptrend attributed to increased demand from end-use industries, particularly in the food and beverage sector. Factors such as rising commodity prices of glucose, increased production rates, and positive market conditions continued to support the market. The improved demand outlook in China, and enhanced trade activity in April also contributed to the market's strong performance. However, a subsequent downward trend in the Chinese market was observed due to declining raw material glucose prices, coupled with uncertainty in downstream inquiries amid economic uncertainties and rising inflation. Increased production speed resulted in higher sorbitol stocks, with buyers cautious about large orders due to fears of further price declines.
H2 2023: In H2 2023, Sorbitol prices were still mixed in Asia Pacific region. In the third quarter of 2023, Sorbitol experienced consistent price fluctuations in the APAC region. The price dip observed in July was influenced by pressures from the domestic corn market, leading to minor reductions in Sorbitol factory prices in specific areas and a subsequent slight decrease in domestic Sorbitol market prices. However, stability returned to the Sorbitol market by the end of the month as corn prices stabilized. Towards the end of July, sporadic corn entries in the northeast production area, combined with optimistic expectations for a high yield of new-season corn, continued to drive down corn market prices. This, in turn, had a negative impact on domestic Sorbitol market prices due to ample inventories and sluggish demand. Nevertheless, prices rebounded in the middle of the third quarter, propelled by the persistent strength of the domestic corn market, fluctuating but eventually stabilizing raw material costs, and increased demand for starch after the summer season. These factors, bolstered by cost considerations and rising demand, contributed to the sustained strength of the Asian Sorbitol market. In the Chinese market, prices rose in September, followed by decline in October and incline in November 2023.
The global Sorbitol market stood at approximately 2200 thousand tonnes in 2023 and is anticipated to grow at a CAGR of 3.2% during the forecast period until 2033.
Sorbitol, alternatively referred to as D-glucitol or D-Sorbitol, belongs to the sugar alcohol category known as polyols and is a type of carbohydrate. This compound is typically produced through a glucose reduction process, wherein the aldehyde group undergoes a transformation into a hydroxyl group with the aid of the aldose reductase catalyst. Widely employed in the food, cosmetics, pharmaceutical, paper, leather, and other industries, sorbitol serves various purposes such as a sweetener, additive, humectant, texturizer, stabilizer, and bulking agent. Additionally, it serves as a raw material for the production of different chemicals, including vitamin C, surfactants, resins, and more.
The pharmaceutical industry is witnessing a persistent surge in the demand for Sorbitol, a versatile carbohydrate known for its varied applications. One of its primary roles in pharmaceuticals lies in its efficacy as a laxative, providing relief from constipation. This particular application is driving an upward trajectory in the Sorbitol market, with projections indicating sustained growth in the coming years. The escalating number of diabetic patients, coupled with the increasing preference for health-conscious choices among consumers, has fueled the demand for Sorbitol in the food and confectionery sector. Acting as a reduced-calorie substitute for sugar, Sorbitol is positioned as a key player in meeting the evolving dietary preferences of the global populace, contributing to its expanding market footprint. the Sorbitol market is experiencing a significant boost due to its widespread use in various end-use industries. Its unique attributes, including stability and relative inertness, make it a favoured choice for integration with other food products without altering their compositions. This adaptability is a key driver of its growing demand not only in the pharmaceutical sector but also in cosmetics on a global scale. The cosmetic industry, in particular, is increasingly incorporating Sorbitol in the formulation of skincare products such as lotions, moisturizers, aftershave creams, and baby shampoos. Its ability to prevent moisture loss from skin and hair adds a valuable dimension to these products, aligning with the growing consumer emphasis on skincare solutions. As the demand for Sorbitol continues to diversify across industries and applications, the global market is poised for sustained expansion. The versatility of Sorbitol, spanning pharmaceuticals, food, and cosmetics, positions it as a pivotal ingredient driving innovation and meeting the evolving needs of various sectors in the foreseeable future. The global Sorbitol market is likely to reach approximately 3000 thousand tonnes in 2033.
The forecast period anticipates a notable upswing in the Asia Pacific region in terms of demand, The dominance of the Asia Pacific region in the global Sorbitol market is justified by its substantial market share driven by heightened demand across major end-use industries. Particularly in emerging economies like China and India with a significant emphasis on industries such as cosmetics, food and beverages, and personal care. The robust demand for Sorbitol in these sectors, especially for the production of cosmetics and personal care items, contributes to the region's market leadership.
Based on the end-user industry, the global Sorbitol market is divided into Pharmaceuticals, Food & Beverages, Personal Care & Cosmetics, and Others. Among these, Food & Beverages is the major segment and held about 35% of the global Sorbitol market in 2023 and is anticipated to prevail the similar trend in the upcoming years. The anticipated market growth is attributed to the heightened awareness surrounding the nutritional advantages of dietary supplements. Furthermore, the increasing global prevalence of diabetes has led to a growing concern for low-calorie and sugar-free products. This concern is poised to act as a favourable factor for market expansion in the foreseeable future.
Major players in the Global Sorbitol market are American International Foods, Inc., ADM, Cargill, Incorporated., DuPont, Gulshan Polyols Ltd., Merck KGaA, Kasyap Sweeteners, Qinhuangdao Lihua Starch Co., Ltd., Roquette Frères, SPI Pharma, Ecogreen Oleochemicals GmbH, Tereos, Ingredion Incorporated, Ltd., Tate & Lyle, Pfizer Inc., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2033
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Objective of the Study:
• To assess the demand-supply scenario of Sorbitol which covers production, demand and supply of Sorbitol market in the globe.
• To analyse and forecast the market size of Sorbitol
• To classify and forecast Global Sorbitol market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Sorbitol market in the globe.
To extract data for Global Sorbitol market, primary research surveys were conducted with Sorbitol manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Sorbitol market over the coming years.
ChemAnalyst calculated Sorbitol demand across the globe by analyzing the volume of Sorbitol consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Sorbitol manufacturers and other stakeholders
• Organizations, forums and alliances related to Sorbitol distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Sorbitol manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Sorbitol market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
2200 thousand tonnes
Market size Volume in 2033
3000 thousand tonnes
Growth Rate
CAGR of 3.2% from 2024 to 2033
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2033
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2033
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Pharmaceuticals, Food & Beverages, Personal Care & Cosmetics, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com
Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Sorbitol market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Sorbitol.
3. Capacity By Location
To better understand the regional supply of Sorbitol by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Sorbitol by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Pharmaceuticals, Food & Beverages, Personal Care & Cosmetics, and Others) are creating a market and the forecast for the growth of the Sorbitol market.
7. Demand by Region
Analyzing the change in demand of Sorbitol in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Sorbitol. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Sorbitol.
10. Company Share
Figure out what proportion of the market share of Sorbitol is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Sorbitol.
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of Sorbitol in terms of volume in 2023?
Ans:
The global market size of Sorbitol has reached approximately 2200 thousand tonnes in 2023.
Q2.
Which industry is the leading consumer of Sorbitol?
Ans:
Food & Beverages industry is the leading consumer of Sorbitol globally.
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