Definition & Importance:
Many people think that ‘sugar alcohol’ is a peculiar type of sugar that contains alcohol. But this is a highly wrong notion! They contain neither sugar nor alcohol, the name of this substance is derived from its chemical formula. The chemical structure of this component bears resemblance to that of sugar and alcohol in equal parts hence the name. This component is basically used as a substitute for table sugar to sweeten various food items and beverages. In the last few years, owing to its unique and beneficial characteristics it has made a name for itself. As a consequence to that sugar alcohol market has gained momentum.
Sugar alcohol is popular by various alias like polyalcohols, polyhydric alcohols, glycitols and alditols. At their heart, they are organic compounds, they are extracted from sugars that consist a class of polyols. Appearance wise they are white, water-soluble solids that can be found naturally or can also be manufactured by several companies from sugars. Apart from being used as sweeteners, they are also utilized thickeners.
In the current food industry, sugar alcohol is used as a healthy alternative to the normal sugar. They are healthy because they are a lot less sweet than the conventional sugar types. On the whole, it can be concluded that this compound is extremely beneficial in nature. And this industry will continue to gain recognition and success in the coming years as well.
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Recently, the global sugar alcohol market witnessed a huge and groundbreaking innovation. It was the discovery of the fact that sugar alcohol could be used to store energy in heat form. A recent experiment brought to light that these compounds could be effectively utilized to store solar energy and wind energy as they comprise xylitol that is adept enough to store energy in heat form.
Market Players & Key Trends:
Some of the most well-known and successful players of this market can be listed as Roquette Freres, Cargill, Chemicals Trading GmbH, and Fraken Biochem Co. Ltd. To stay ahead in the competitive arena, these players use strategies like novel product development and strategic expansion.
The individuals of the modern era are highly conscious of their health wellness. Observing this fact, one can confidently say that the future looks bright for the global sugar alcohol market. The market is anticipated to assimilate an impressive revenue over the forecast period of 2017-2027. The CAGR value too looks promising and will steer the market towards success.
There are numerous growth factors that cumulatively contribute towards the development of the market. One of the major growth propellers happens to be the massive change in lifestyle of the general population. Unlike earlier times, people these are way more concerned about their fitness and wellbeing. This in turn works in the favor of the market.
The upsurge in the ratio of people suffering from obesity and diabetes is another growth propeller for this industry. However, the market may face certain restraints like shortage of raw materials and high pricing of the same. Although, with time the market will overcome such issues and emerge victorious.
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The worldwide sugar alcohol market has been separated into four distinct parts. They can be listed as sources, geographies, types and applications.
On the basis of sources, the market is divided into bagasse, corn, birch wood, wheat, rice, cassava and potato.
Geographically, this industry is spread across various areas of the world like North America, Asia Pacific, Europe and Rest of the World.
On account of types the market is segmented into mannitol, erythritol, sorbitol, xylitol, isomalt and lactitol.
Lastly, based on applications the market has been fragmented into pharmaceucticals, table top sweeteners, dairy products and confectionery.
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