New York — Global sales for sorbitol are anticipated to grow 5.7 percent to hit $2.18 billion by 2027, according to Marketysers Global Consulting LLP’s Reports and Data division, with consumer wellness trends and organic personal care products driving much of the growth.
Because of its ability to stabilize moisture in products, in turn improving shelf life, the alternative sweetener is a popular choice in baked goods, confectionery and chocolate, the market research company reports. Food and beverage manufacturers dominated the industry in 2019, and are anticipated to see a growth rate of 5.4 percent through 2027.
By type, liquid sorbitol held a majority of the market in 2019 and is expected to grow 6.1 percent during the forecast period, according to Reports and Data.
Sales in North America will be propelled by growing awareness of dietary supplements and nutritional advantages of sorbitol, according to the market research company. Sales in the region are expected to grow 5 percent during the forecast period.