The global sugar alcohol market was valued at USD 3.61 billion in 2019 and is projected to reach USD 9.07 billion by 2032, exhibiting a CAGR of 7.13% during the forecast period. In 2019, Europe dominated the market with a 32.41% share.
Market growth is primarily driven by the increasing consumption of gum confectionery products, such as chewing gum, where polyols serve as a key sugar substitute. The food and beverage industry, particularly the bakery and confectionery segments, accounts for the majority of polyol consumption. With consumers increasingly opting for sugar-free food products due to fast-paced lifestyles, demand for sugar alcohols is expected to rise significantly.
Information Source: https://www.fortunebusinessinsights.com/sugar-alcohol-market-102956
Report Coverage
The market report provides a comprehensive analysis of various factors influencing growth, including key drivers, restraints, challenges, and opportunities. It offers detailed regional insights, encompassing both qualitative and quantitative data, with a breakdown of contributions from different countries between 2020 and 2027. Additionally, the report examines the competitive landscape, highlighting major market players and their strategies such as mergers, acquisitions, collaborations, and joint ventures that are expected to drive industry expansion.
Market Dynamics
Growth Drivers
Rising Demand for Gluten-Free Food Products
The growing popularity of gluten-free diets worldwide is fueling demand for sugar alcohols. Gluten-free foods offer several health benefits, including improved cholesterol levels, better digestion, increased energy, and weight management. As a result, companies are launching new products to cater to this trend. Glucose syrups containing polyols such as maltitol and sorbitol are widely used in multiple regions, and the increasing demand for gluten-free, corn-based glucose syrups is expected to further propel market growth.
Regional Insights
Europe Leads Market Growth with Strong Demand for Sugar-Free Confectionery
Europe is expected to maintain its dominance in the global sugar alcohol market, registering the highest revenue during the forecast period. In 2019, the region accounted for a market share of USD 1.23 billion, driven by the rising demand for sugar-free confectionery products. Additionally, an increasing preference for processed foods due to busy lifestyles is further boosting market growth.
North America: A Key Market Fueled by Growing Diabetic Population
North America is projected to be the second-largest regional market, primarily due to the rising prevalence of diabetes in the U.S. The COVID-19 pandemic has also contributed to market expansion, as the increased demand for hand sanitizers—many of which contain sugar alcohols—has driven production.
Asia-Pacific to Witness Significant Growth
The Asia-Pacific region is expected to experience substantial growth due to its large population and high polyol production in countries such as China and India. These factors, along with increasing demand for sugar substitutes, will drive market expansion in the region.
Competitive Landscape
Industry Players Collaborate to Combat COVID-19
The market comprises several small, medium, and large companies aiming to strengthen their market positions. Amid the COVID-19 pandemic, companies have engaged in strategic collaborations to address global challenges and stabilize the economy.
Leading Companies in the Sugar Alcohol Market
- Archer-Daniels-Midland Co. (U.S.)
- Cargill Incorporated (U.S.)
- Ingredion Incorporated (U.S.)
- Roquette Frères (France)
- Tereos Starch & Sweeteners s.a.s (France)
- Tate & Lyle plc (U.K.)
- Pfizer Inc. (U.S.)
- Lonza Group (Switzerland)
- SPI Pharma (U.S.)
- Merck KGaA (Germany)
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Key Industry Developments
- December 2023: Brandt’s, a prominent U.S.-based manufacturer, introduced Fenglihui Anjiachun, an innovative sugar alcohol, into the Chinese market. The product will be distributed by Beijing Xinhefeng Agricultural Materials, marking a significant expansion in the region.