Polyol Sweeteners Market | IndustryARCFar-reaching applications of polyols in the pharmaceutical sector are factors set to drive the growth of the Polyol Sweeteners MarketPolyol Sweeteners Market size is estimated to reach $4.56 billion by 2027, growing at a CAGR of 5.8% during the forecast period 2022-2027. Polyols can be delineated as sugar replacers or sugar substitutes used widely as a food additive because of their low-caloric nature. Various fruits like apples, berries, and pears are a natural source of polyols. They are commonly taken into account by the food and beverages industry as natural sugar-free sweeteners in making gums, ice creams, and several other drinks. There are several types of polyols such as Allulose, Lycasin, Maltitol, Mannitol, Sorbitol, Polysorb, Erythritol, and others. Besides, food and beverages polyols have many applications in the pharmaceutical sector too such as in preventing inadvertent urine loss (also, known as urinary incontinence). They act as a bulking agent to promote coaptation in the urethral. Heightening demand for low-calorie food and beverages as health consciousness among people is elevating, and far-reaching applications of polyols in the pharmaceutical sector are factors set to drive the growth of the Polyol Sweeteners Industry for the period 2022-2027.
Polyol Sweeteners Market Segment Analysis - By Application
The Polyol Sweeteners Market based on the application type can be further segmented into Food and beverages, pharmaceutical sector, and others. The food and beverages segment held the largest share in 2021. The growth is owing to the widespread use of polyols in the preparation of sugar-free confectionery and bakery such as ice creams, candies, gums, bakery inclusions, and conferring taste to drinks. Moreover, broadening health complications such as diabetes, cavity problems, and being overweight due to sugar-rich confectionery items are propelling the demand for use of polyols as these polyhydric alcohols pass well-adjusted saccharinity. Diabetes has been growing, and now around 10% of the Indian and American population have type-2 diabetes. Furthermore, the food and beverage segment is estimated to be the fastest-growing with a CAGR of 6.5% over the forecast period 2022-2027. This growth is owing to proliferating demand for confectioneries due to growing western influence in developing nations. On another hand, polyols use associated with the pharmaceutical industry are limited to a few areas therefore pharmaceutical segment can’t outperform the food and beverages share in the respective market.
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Polyol Sweeteners Market Segment Analysis - By Function
The Polyol Sweeteners Market based on function can be further segmented into the texturizing agent, excipient, humectant, bulking agents, binder, and many more. The texturizing segment held the largest share in 2021. The growth is owing to the increase of texturizing agents like sorbitol as food additives with an objective to augment the texture of products. These agents progress the pulpiness, soupiness, and viscidness of food items and drinks. However, the excipient and humectant segments are estimated to be the fastest-growing with a CAGR of 6.7% over the forecast period 2022-2027. This growth is owing to wide-scale use in cosmetics products. Humectant helps in the moisturization of the skin as they gravitate water from inner layers of skin, and also from the air. Moreover, expanding possessiveness among people regarding their looks is elevating the growth of the cosmetic industry which in turn will raise the use of excipients and humectants in the fabrication of various products like creams and lotions.
Polyol Sweeteners Market Segment Analysis - By Geography
The Polyol Sweeteners Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 34% of the overall market in 2021. The growth in this segment is owing to the factors such as enlarging consumption of confectioneries and energy drinks. On another hand, obesity is a major problem among the American population due to the lack of enough activity owing to the utmost convenient and comfortable lifestyles. Over 40% of The US population is obese. However, the Asia-Pacific segment is expected to offer lucrative growth opportunities over the forecast period 2022-2027. This growth is owing to the growing population, increasing health awareness among the general public. On another hand, the disposable income of people in Asian countries like India, China, Japan, and others is on the rise.
Polyol Sweeteners Market Drivers
Enlarging cases of obesity and diabetes is Anticipated to Boost Product Demand
We can’t question the fact that the current generation is relishing the highest level of luxury and expediency in the history of mankind, and rapid modernization and technological advancements have played a big role in that. But such comforts have turned a majority of human beings into time-servers and procrastinators. People just want machines to do all the required work. Therefore, due to this lack of activity problems like Obesity have come to the foreground on an unprecedented scale. According to a report, around 332,915,03 people in the US are obese. This number accounts for more than 35% of the American population. On another hand, due to excess sugar consumption diabetes cases are plunging. According to the Centre for Disease Control and Prevention 463 million people worldwide are suffering from diabetes and around 34.2 million cases alone belong to the US. Therefore, all these aforementioned factors are stimulating the demand for sugar-free foods and beverages to elude such complications.
Heightening health awareness and per capita income is Expected to Boost Product Demand
With expanding literacy rates worldwide people are becoming more conscious regarding their physical health. The world’s literacy rate has reached over 90% in current times. Therefore, people are well aware of “what to consume and what not to?” On another hand plunging purchasing power encourages the consumer to make expensive but healthy purchases. People in developed countries enjoy an affluent lifestyle but purchasing capacity of people residing in developing nations is also proliferating as economies are prospering. For instance, China’s GDP (nominal) per capita income has reached $11,819 which is a tremendous achievement considering the size of its population. Similarly, the per capita income of Bangladesh in the financial year 2020-21 witnessed a 10% hike and reached an all-time high of $2,227. All these factors are driving the growth of the polyol sweeteners market.
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Polyol Sweeteners Market Challenges
Gastrointestinal side effects linked with the usage of polyols are Anticipated to Hamper Market Growth
Extortionate price of polyol-associated products and side effects that comes along with their overuse are major factors that can strangle the growth in the respective market. It can set many complications like nausea, swelling, flatulence, and intestinal pain into motion. Moreover, ingestion of more than 45-55 grams of polyols may result in excess water in the gut and can lead to diarrhea. Also, dehydration, cramps are a few laxative effects that a person might face.
Polyol Sweeteners Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Polyol Sweeteners Market. Key companies of this market are-
Cargill
Archer Daniels Midland Company
Ingredion Incorporated
Gulshan Polyol Ltd.
Sudzucker AG
Jungbunzlauer Suisse Ag
Batory foods
DFI Corporation
Tereos Starch & Sweeteners
Roquette Freres
Recent Developments
December 31, 2021, MPOB ( Malaysia Palm Oil Board) researchers found more than 10 new types of palm-based polyols for application in polymers, specifically polyurethanes. The latter is environmentally friendly. To enhance its research on polyol, MPOB has invested RM2 million for the establishment of three pilot plants with the capacities of 150 litres, 500 liters, and 1,000 liters to produce palm-based polyols.
September 1, 2021, the well-known US-based food corporation Cargill, Inc, announced the efficacious acquisition of Aalst Chocolate, a Singapore-based organization that distributes products to numerous developing Asian nations like India, China, Japan, and the rest of southeast Asia. The acquisition extends many benefits to Cargill in broadening its existence in the growing chocolate market of Asia.
July 1, 2020, a US-based ingredient provider multinational firm “Ingredion Inc.” publicized that it has positively polished off the acquisition process of natural ingredients producing company “PureCircle.” Ingredion has paid a total amount of 185.3 million pounds to “PureCircle” in order to complete the process and obtain 75% of the controlling stake.
May 17, 2020, Cargill publicizes that it has acquired the global, chocolate business of US-based company “Archer Daniels Midland Company”, commonly known as ADM. Cargill brought the deal to close by paying S440 million to ADM. The deal has placed ADM’s chocolate brands like Merckens, Schokinag, and Ambrosia into complete possession of Cargill.
Key Takeaways
Geographically, the North America Polyol Sweeteners Market accounted for the highest revenue share in 2021. However, Asia-Pacific is poised to dominate the market over the period 2022-2027.
Augmenting trends of low caloric confectioneries and drinks are said to be a preeminent driver driving the growth of the Polyol Sweeteners Market. Gastrointestinal side effects associated with polyols are said to reduce market growth.
Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Polyol Sweeteners Market report.
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