A new report published recently by Future Market Insights has projected the global sugar alcohol market to witness sustained opportunities in the bakery segment. Demand for convenience foods and beverages is expected to positively affect growth, in spite of the ongoing threat from the coronavirus pandemic.
On the other hand, growing consumer health awareness has resulted in a transition from conventional offerings towards low-calorie, healthy alternatives in the industry, which is having a positive influence on adoption, even in niche pharmaceutical applications.
Key Takeaways
- Xylitol sugar alcohol products to find greater adoption rates, owing to confectionary consumption.
- Erythritol variants to gain ground as sweetening agents, attributed to low-calorie characteristics.
- Bakery product applications as preservatives are expected to gain application with higher consumption of ready-to-eat foods.
- Beverage production to register increased use of sugar alcohols in the period 2020 to 2030.
- Asia-Pacific, led by China is reflecting faster than average growth, Europe likely to retain lead in the market.
“While food and beverage manufacturers continue to use artificial sweeteners, consumers continue to seek healthy alternatives, which in turn has bolstered the demand for polyols, which provides consumers sweet flavorings in addition to nutritive benefits, which will drive demand in the industry for the foreseeable future,” says an FMI analyst
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Covid-19 Impact Insights
As the coronavirus pandemic continues to hold the global economy in its grip, the potential for recession is high. With food and beverage production being hit by lockdown, especially in the processed foods sector, the sugar alcohol market is expected to be moderately impacted during this period.
The use of sugar alcohols in the production of hygiene products such as hand sanitizers will drive demand during the crisis period, which can be attributed to the largely number of patients, and high-levels of contagiousness of the virus. Applications in the pharma sector are also likely to witness an uptick.
On the other hand, the use of sugar alcohol in the food and beverage sector is likely to fall during the pandemic owing to increased spending on essentials and ready-to-eat foods, while the demand for confectionary and baked goods has slumped.
Competitive Landscape
The global sugar alcohol market is largely fragmented with the presence of many international and regional manufacturers, which has created a competitive market landscape. Some of the leading players in the sector are Cargill Inc., DuPont, Archer Daniels Midland Company, Ingredion Inc., BENEO GmbH, Mitsubishi Shoji Foodtech Co. Ltd., Roquette Freres, A & Z Food Additives, and Beckmann Kenko GmbH, among others.
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Market players have largely been emphasizing on the growth of product portfolios with research into healthy offerings, which are in compliance with local regulations, in an effort to keep up with a highly competitive environment. In addition, production capacity expansion is proving to be a positive influence in bolstering market presence.
For instance, DuPont has announced the approval of the European Commission for the applications of the company’s powdered lactitol supplement. Ingredion Inc. has announced the launch of Erysta – a sugar substitute derived from erythritol polyol. Also, Talenti has released a new gelato range which uses a zero-calorie form of sugar alcohol as a sweetening agent.
More Valuable Insights on the Sugar Alcohol Market
In a new report, Future Market Insights provides readers with an unbiased analysis of the global sugar alcohol market, with analysis in terms of historical demand between 2015 and 2019, and forecast data for the period between 2020 and 2030. The report covers growth projections on the sugar alcohol market in terms of product type (sorbitol, mannitol, xylitol, maltitol, lactitol, erythritol, isomalt, and others), end user(food & beverages, pharmaceuticals, and others), and application (bakery goods, sweet spreads, confectionary & chewing gum, beverages, dairy products and others), across seven key regions.
About Food Market Division at FMI
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.