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Sorbitol Market Analysis
Spend growth of this market has the potential to touch a value of over USD 300 million with spend momentum that will accelerate at a CAGR of more than 3% between 2019-2024. The growing affinity towards low-sugar food products will drive demand in the sorbitol market. This is evident in about a 25% increase in the launch of low-sugar foods by players in the food and beverage industry. Sorbitol is a cheaper alternative to xylitol which will further contribute to the demand growth of the former during the forecast period.
Top Spending Regions in the Sorbitol Market
In terms of regional spend, APAC will dominate the market share, accounting for over 60% of the total spend in the sorbitol market.
Factors such as an increase in the FDI flow and rapid growth observed in the pharmaceutical industry in emerging economies will drive investments in the sorbitol market in APAC. India and China together account for nearly 80% of the global drug supply. Their share in global drug production is expected to increase during the forecast period. This will result in the steady increase in APAC's market share during the forecast period.
Despite predictions of an initial dip in the sorbitol market share in North America, the increase in low-sugar dietary supplements by consumers will continue to drive spend growth in this market. For instance, in 2019, nearly 43% of the population in the US used sugar substitutes in their diets, and this trend is expected to continue during the forecast period. This will drive the demand for sugar substitutes and favor the sorbitol market spend growth in the US during the forecast period.
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Insights Offered in this Sorbitol Market Report
Insights into Some of the Leading Sorbitol Suppliers
This sorbitol market procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies for the top sorbitol suppliers. The top suppliers highlighted in this report include:
Criteria to select suppliers in this dynamic sorbitol market is subject to change based on the day-to-day industry outlook. Get a free demo of our procurement platform to gain immediate access into real-time insights to the changing suppliers selection criteria.
PART 01: EXECUTIVE SUMMARY
PART 02: MARKET INSIGHTS
PART 03: CATEGORY PRICING INSIGHTS
PART 04: COST-SAVING OPPORTUNITIES
PART 05: BEST PRACTICES
PART 06: CATEGORY ECOSYSTEM
PART 07: CATEGORY MANAGEMENT STRATEGY
PART 08: CATEGORY MANAGEMENT ENABLERS
PART 09: SUPPLIERS SELECTION
PART 10: SUPPLIERS UNDER COVERAGE
PART 11: US MARKET INSIGHTS
PART 12: CATEGORY DEFINITION
PART 13: APPENDIX
SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.