NEW YORK, Oct. 30, 2020
- Increasing inclination towards organic personal care products is one of the significant factors influencing sorbitol market growth
- Market Size – USD 1.38 Billion in 2019, Industrial growth - CAGR of 5.7%, Market Trends – Rising health issues owing to sugar consumption
NEW YORK, Oct. 30, 2020 /PRNewswire/ -- The Global Sorbitol Market is expected to reach USD 2.18 Billion by 2027. Increasing inclination towards organic cosmetic products is anticipated to drive industrial growth. Sorbitol is used in cosmetics as a humectant as well as a thickening agent, among others. As a humectant ingredient, it checks the moisture loss by drawing water from the air through osmosis, therefore maintaining both the skin and the hair's moisture level. Moreover, it is also commonly used in gel products, owing to its capacity to retain moisture. It is used widely in cosmetics as a thickening agent due to its ability to give favored features such as consistency, viscosity, or adhesion to the products.
The surging growth of the food & beverage sector is playing a significant role in boosting industrial demand. Sorbitol also finds usage in the making of baked goods, confectionery, and chocolate, wherein the manufactured goods tend to harden or become dry owing to their property to retain the product's moisture content. Its moisture-stabilizing features help maintain the initial freshness of manufactured goods during storage, thereby increasing their shelf life. Additionally, sorbitol is highly stable as it can bear high temperatures. It is compatible with other food ingredients, including sugars, gelling agents, proteins, and vegetable fats, as well as other kinds of sweeteners.
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Furthermore, the increasing demand for sorbitol in personal care products is expected to impact industrial growth. It is mostly used in toothpaste and mouthwash products as a moistener as well as a binding agent.
The COVID-19 Impact:
COVID-19 is expected to have a moderate impact on the industry. Global production has suffered immensely due to the imposition of social distancing and other lockdown restrictions. With most economies, particularly in the Asian region, crippled, the industry is projected to witness disruption in the supply chain. COVID-19 can affect the global economy in three main ways: by creating supply chain and market disruption, by directly affecting production and demand, and by its financial impact on firms and financial markets. With the ease of restrictions and government initiatives to start economic activities, countries can hope for the industry's imminent recovery.
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Further key findings from the report suggest
For the report, Reports and Data has segmented the Sorbitol Market based on product, function, application, end-use, and region as follows:
Product Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
Function Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
Application Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
End-Use Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
Regional Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
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