Global Sorbitol Market 2017-2021

Overview of the global sorbitol market

When the pancreas fails to produce enough insulin in the body, the body develops chronic diseases such as diabetes. It results in high blood pressure, fatigue-related problems, dehydration, and eating disorders. The number of diabetes patients is also increasing around the globe, which in turn, will propel the amount spent on treatments for diabetes every year. Research analysis on the global sorbitol market identifies that the increasing rate of diabetic problems will be one of the major factors that will have a positive impact on the growth of the market. It is estimated that in 2016, approximately USD 690 billion was spent on treating diabetes on a global level and this will reach USD 720 billion by 2040. Consequently, people in many countries of APAC and the Americas are forced to purchase low sugar level foods that contain sugar alcohol such as sorbitol. This in turn, will drive the demand for sorbitol in foods and beverages and pharmaceutical applications. Technavio's market research analysts predict that the glucitol market will grow at a CAGR of more than 5% by 2021.

The high demand for cosmetics, personal care products, and chemicals in APAC resulted in an increased consumption of sorbitol during 2016. The Association of Southeast Asian Nations (ASEAN) countries such as Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Laos, and Myanmar are the potential markets for cosmetics in this region. This will drive the demand for sorbitol from APAC in the coming years.