At 6.3% CAGR, Polyol Sweeteners Market Size Will Grow to $8.26 Billion By 2028: Polaris Market Research
The global polyol sweeteners market size is expected to reach USD 8.26 billion by 2028 according to a new study by Polaris Market Research.
The polyol sweeteners industry is anticipated to witness growth during the projected period due to rising adoption for convenience food, hectic consumer lifestyle, and increasing application in personal care products. The demand for polyol sweeteners has also increased due to the increasing disposable income of consumers, rising health concerns, and growing awareness regarding nutrition and fitness.
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Increasing health awareness and initiatives towards preventive healthcare during the COVID-19 outbreak has encouraged the consumption of low-calorie, sugar-free and immunity-boosting products. However, government regulations on movement and lockdowns, disruption in the supply chain, halting of manufacturing activities, and limited availability of raw material and labor have hampered the industry’s growth during the pandemic.
The use of the product has also increased in personal care and oral due to increasing consciousness towards physical appearance and the adoption of beauty trends across the world. Sorbitol and maltitol are utilized in oral care products like toothpaste and mouthwash to provide mild sweetness, refreshing taste, and resistance to dental caries. Sorbitol is used in personal care products such as creams, moisturizers, and hair care solutions to offer humectant, lubricity, and hygroscopicity.
The demand for powdered polyol form is anticipated to be high over the forecast period. The growth in the convenience food industry is anticipated to drive the powdered industry during the forecast period.
Market leaders are gradually taking the initiative to set up their online portals for sales. The emerging trend of e-commerce and easy availability of products on e-commerce portals has boosted the sale of these products through online platforms, especially during the pandemic.
Asia-Pacific is anticipated to grow at a significant pace over the forecast period. Rising disposable incomes, population growth, and increasing use of personal care and cosmetics propel the industry growth in the region.
Some of the major market participants include Beneo, B Food Science Co., Ltd., Cargill, Inc., DuPont, Ecogreen Oleochemicals, DFI Corp., Foodchem International Corp., Ingredion Inc., Sweeteners Plus, LLC, HYET Sweet B.V, Mitsubishi Corporation Life Sciences Ltd., Shandong Futaste Co., Roquette Frères, SPI Pharma, PT, and Zhejiang Huakang Pharmaceutical Co., Ltd.
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Polaris Market Research has segmented the polyol sweeteners market report on the basis of type, application, form, distribution channel, and region:
Polyol Sweeteners, Type Outlook (Revenue, USD Billion, 2016 – 2028)
Polyol Sweeteners, Application Outlook (Revenue, USD Billion, 2016 – 2028)
- Cosmetics and Personal Care
- Food & Beverages
Polyol Sweeteners, Form Outlook (Revenue, USD Billion, 2016 – 2028)
Polyol Sweeteners, Distribution Channel Outlook (Revenue, USD Billion, 2016 – 2028)
- Supermarkets and Hypermarkets
- Specialty Stores
- Convenience Stores
- Online Platforms
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