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Sugar Alcohol Market Size, Global Demand, Growth, Share and Industry Forecast by 2027
The global sugar alcohol market size is projected to reach USD 6.70 Billion by 2027 backed by increasing demand for gluten-free food products across the globe. Fortune Business Insights, in its latest report, titled “Sugar Alcohol Market Size, Share & COVID-19 Impact Analysis, By Type (Sorbitol, Xylitol, Maltitol, Erythritol, and Isomalt), Application (Food and Beverages, Pharmaceuticals, and Cosmetics and Personal Care), and Regional Forecast, 2020 – 2027.” observes that the market was worth USD 3.61 Billion in 2019 and will exhibit a CAGR of 7.75% between 2019 and 2027.
Sugar Alcohol also known as polyols are turning out to be the fast emerging alternative to sugar. Though they bore similar resemblance to sugar considering their texture and taste, they contain far less caloric content and fewer health hazards when consumed. In addition to this, several studies have shown that consumption of polyols may lead to improving the health of the consumer. Furthermore, they are hybrids between sugar molecules and alcohol molecules and are present in several fruits and vegetables. Though there are organic polyols, there are few processed from sugars such as cornstarch and glucose.
Drivers and Restraints:
Increasing Demand for Gluten-free Food Products to Bolster Growth
Gluten-free food is turning out to be popular among the people across the globe. An array of benefits such as improved cholesterol levels, better digestive health, increased energy levels, and aiding weight-loss, among others provided by gluten-free diet is driving the companies to launch products to ushers into the popularity of the diet. Glucose syrup that includes polyols such as maltitol and sorbitol are extensively used across several regions. Furthermore, growing demand for corn-based glucose syrup that is believed to be gluten-free is expected to drive the growth of the market during the forecast period.
Regional Analysis:
Europe to Remain Dominant; High Demand for Sugar-Free Confectionary Products to Promote Growth
Among the regions, Europe is expected to remain at the forefront and register maximum global Sugar Alcohol market revenue during the projected horizon. Additionally, the region registered a high market share of USD 1.23 Billion in 2019 and is further anticipated to rise backed by growing demand for sugar-free confectionary products among the population. Furthermore, fast-paced lifestyle is leading to a growing consumption of processed foods in several countries of Europe that will aid the market growth. North America, on the other, is anticipated to be the second-most leading region in the forthcoming years. This is ascribable to factors such as increasing prevalence of diabetic patients in the U.S. Furthermore, the widespread effects of COVID-19 in the regions is propelling the demand for hand-sanitizers that will boost the demand for the market during the forecast period.
The market in Asia-Pacific is expected to witness substantial growth in the forthcoming years. This is attributable to factors such as presence of large population in the region. Furthermore, high production of polyols in the countries such as China and India will contribute to the market growth.
Competitive Landscape:
Companies Collaborating to Combat COVID-19 to Augur Growth
According to the report, the market comprises of several small, medium, and large companies striving to gain maximum market share by consolidating their position during the forecast period. In addition to this, the companies are collaborating with each other to fight the global pandemic, Covid-19 and mitigate the threat to get back the economy on track. For instance, in March 2020, amid the widespread effect of novel coronavirus that has caused the scarcity of hand sanitizes, Gull New Zealand, a renowned petroleum company, announced that it would provide over 340,000 liters of ethanol along with Sugar Alcohol to manufacture hand disinfectants. This move is expected to fill the void caused due to scarcity of hand sanitizers across several regions that will prove beneficial to fight the pandemic
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Skim Milk Powder (SMP) Market Key Drivers, Industry Share, Future Growth, Demand Analysis and Forecast by 2030
Global Skim Milk Powder (SMP) Market provides an in-depth analysis of the market status of Skim Milk Powder (SMP) manufacturers, including best facts and figures, overview, definition, SWOT analysis, expert opinions, and the most recent developments worldwide. The report also computes market size, Price, Revenue, Cost Structure, Gross Margin, Skim Milk Powder (SMP) Sales, and Market Share, Forecast, and Growth Rate. The report helps to determine the revenue generated by the sale of this report and technologies across various application segments.
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Skim Milk Powder (SMP) in these regions, from 2016 to the Forecast period
North America
The Middle East and Africa
Asia-Pacific
South America
Europe
Key Attentions of Skim Milk Powder (SMP) Market Report:
The report offers a comprehensive and broad perspective on the global Skim Milk Powder (SMP) market.
The market statistics represented in different Skim Milk Powder (SMP) segments offer a complete industry picture.
Market growth drivers and challenges affecting the development of Skim Milk Powder (SMP) are analyzed in detail.
The report will help in the analysis of the major competitive market scenario, and market dynamics of Skim Milk Powder (SMP) .
Major stakeholders, key companies Skim Milk Powder (SMP) , investment feasibility, and new market entrants study is offered.
The development scope of Skim Milk Powder (SMP) in each market segment is covered in this report. The macro and micro-economic factors affecting the Skim Milk Powder (SMP) market
Advancement is elaborated on in this report. The upstream and downstream components of Skim Milk Powder (SMP) and a comprehensive value chain are explained.
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Kava Root Extract Market Size, Demands, Future Trends, Growth Factors and Forecast by 2029
The global kava root extract market size is predicted to hit USD 3.41 billion in 2029 and exhibit a CAGR of 16.29% during the forecast period. The swiftly expanding supplements industry and the increasing kava root extract incorporation in the pharmaceutical industry are anticipated to bolster the market expansion.The market size stood at USD 1.02 billion in 2021 and USD 1.18 billion in 2022.
List of Key Industry Players-
Botanic Healthcare (India)
NOW Health Group Inc. (U.S.)
Gaia Herbs Inc. (U.S.)
Root of Happiness (U.S.)
LifeSeasons, Inc. (U.S.)
Natural Factors Nutritional Products Ltd. (U.S.)
Best Nutrition Product, Inc. (U.S.)
Fiji Kava Australia Ltd. (Australia)
Kona Kava Farm (U.S.)
Nutragreenlife Biotechnology Co., Ltd. (China)
Drivers & Restraints-
Rising Functional Food Consumption to Fuel Market Growth
Kava root extract’s therapeutic and relaxing properties have escalated its demand for applications in several personal care and pharmaceutical products. It is widely consumed by Western population as tablets or capsules containing acetonic or ethanolic extracts. The consumption of the extract has witnessed a substantial increase in consumption as a dietary supplement. The rising popularity of herbal extracts-infused non-alcoholic beverages due to mushrooming health awareness is predicted to complement the kava root extract market growth.
Moreover, the growing consumption and demand for these extracts by the pharmaceutical industry due to their therapeutic and relaxing properties is anticipated to favor market growth. The swiftly expanding supplements industry due to a heightened consumption by the geriatric population is estimated to foster the growth of the market. Additionally, the rising functional food consumption is anticipated to benefit the market’s expansion due to proliferated demand for kava in functional beverages and foods.
However, raw material price fluctuations and low market penetration may restrain the market’s expansion during the forecast period.
Regional Insights-
High Production and Consumption of Kava to Boost Growth in Fiji
Fiji is a prominent consumer and producer of kava root extracts and is predicted to attain a humongous global kava root extract market share. The country is the largest producer of this extract and the favorable initiatives for unemployed rural individuals and farmers are projected to bolster the market’s expansion in Fiji.
Vanuatu is anticipated to exhibit substantial growth in the coming years. Factors such as the rising demand for nutritional supplements, urbanization, a surge in women kava drinkers, and an ever-increasing populace are expected to stimulate the market growth in the country.
The evolving consumption patterns are predicted to escalate product consumption and flourish in growth in the U.S.
Competitive Landscape-
Key Players Launch New Products to Amplify their Global Positions
The major players operating in the market emphasize upgrading current product portfolios by incorporating advanced technologies to enhance their offerings. The major market players adopt ingenious strategies, including contracts, acquisitions, mergers, collaborations, and others to amplify their growth prospects. For instance, a pre-packaged kava drink, Drink Leilo, was launched in the U.S. in March 2020.
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