Global Polyol Sweeteners Market - 2023-2030

Market Overview

Polyol sweeteners, also called sugar alcohols, are molecules possessing two or more alcohol groups. Polyols are a class of saccharide derivatives in which a hydroxyl group replaces a ketone or aldehyde group. Polyols are produced by hydrogenating or reducing carbohydrates' carbonyl group (aldehyde or ketone, reducing sugar) to a primary or secondary hydroxyl group. Glucose is hydrogenated to produce sorbitol and fructose to obtain mannitol, and a high maltose corn syrup is hydrogenated to produce maltitol. Polyols are mainly used in confectionery, pharmaceuticals, cosmetics, and oral-care products. Certain polyols have sugary attributes, making them viable alternatives to sugar. Polyols are non-carcinogenic, considerably lower in calories than sugar, and do not significantly raise blood sugar levels.

Increasing demand for sugar substitutes in the food & beverage industry and growing consumer awareness regarding overall health and wellness are expected to drive the market. Furthermore, the rising awareness regarding the adverse health effects of consuming high-calorie sugars fuels the demand for low-calorie and zero-calorie sugar substitutes. The increasing demand for low-calorie beverages, mainly soft drinks, energy drinks, and sugar-free foods, primarily propels the growth of the polyol sweeteners market.

The global polyol sweeteners market was valued at USD YY million in 2022. It is forecasted to reach USD YY million by 2030, growing at a CAGR of 6.17% during the forecast period (2023-2030).

Market Dynamics: Growing demand for low-calorie foods drives the market

A growing number of customers are turning to healthy eating, and supplements, including low-calorie food, which is emerging as a major source of revenue for manufacturers. Low-calorie food demand is increasing significantly in the global market, owing to increased consumers' awareness of its health benefits. Low-calorie foods contain various vitamins and minerals in a single serving, without the high fat and calorie content that contributes significantly to their nutritional composition and subsequent popularity among the global population. As the health and nutrition factor continues to dominate consumer food preferences, rising low-calorie food consumption is expected to drive the polyol sweeteners market over the coming years. The global polyol sweeteners market for low-calorie food is estimated to reach an approximate valuation in the forecast period. The key manufacturers are also launching new products, which are expected to drive the market growth. For instance, in May 2020, Ingredion, Inc. EMEA launched the polyol sweetener ERYSTA Erythritol to fulfill the growing demand for "no added sugar" and "calorie-reduced" label claims among consumers.

However, the uncertainty regarding the side effects of polyol sweeteners amongst consumers might further challenge the growth of the polyol sweeteners market. Furthermore, the rising popularity of natural sweeteners such as stevia as an alternative to sugar is expected to be a key restraint for the global polyol sweeteners market.

Market Segmentation: The food and beverage segment accounted for the highest global polyol sweeteners market share

The food and beverage segment held the largest share in 2022. The growth is owing to the widespread use of polyols in preparing sugar-free confectionery and bakery items such as ice creams, candies, gums, bakery inclusions, and imparting taste to drinks. Moreover, broadening health complications such as diabetes, cavity problems, and being overweight due to sugar-rich confectionery items propel the demand for polyols as these polyhydric alcohols pass well-adjusted saccharinity. Diabetes has been growing; now, around YY% of the Indian and American populations have type2 diabetes. Moreover, the growth of this segment is attributed to the proliferation of demand for confectioneries due to growing western influence in developing nations. The key manufacturers are also launching new products, which are expected to drive the market growth. For instance, in October 2019, Portland-based Icon Foods introduced a new sweetener, IconiSweet, a combination of allulose, erythritol, stevia, and monk fruit. The new product has various technological advantages over traditional single-sweetener products.

Geographical Penetration: Europe is the dominant region during the forecast period

Europe dominated the global polyol sweeteners market and accounted for the highest global revenue share in 2022. The demand for polyol sweeteners in the region is projected to exhibit promising growth over the upcoming years, owing to the demand for natural ingredients and the rapidly expanding personal care industry in countries such as Italy, France, and Germany. In April 2020, the European Parliament endorsed the Horizon 2021 Strategy, a provisional agreement to encourage the development of naturally derived products. This in turn, is estimated to spur market demand for polyol sweeteners in the European food processing industry over the forecast period.

Polyol sweeteners are also used as emulsifiers, foaming and wetting agents, detergents, and dispersants. Growing consumption of bio-based products in Europe is projected to spur the application of bio-based surfactants, such as sorbitol and rhamnolipids. Stringent regulations to curb Greenhouse Gas (GHG) emissions are likely to propel the demand for bio-based surfactants, thereby promoting market growth in Europe. According to International Confectionery, Germany is forecast to grow at approximately 4.6% CAGR within Europe. At the same time, the rest of the European market (as defined in the study) will reach US$967 million by the close of the analysis period.

Competitive Landscape:

The major players in the polyol sweeteners market are B Food Science Co. Ltd., BENEO GmbH (Sudzucker AG), Cargill Incorporated, DuPont de Nemours Inc., Hylen Co. Ltd., Ingredion Incorporated, Roquette Freres, Sweeteners Plus LLC, Tereos, and Zuchem Inc. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market. For instance, on September 1, 2021, the well-known US-based food corporation Cargill, Inc. announced the effective acquisition of Aalst Chocolate. This Singapore-based organization distributes products to numerous developing Asian nations like India, China, Japan, and Southeast Asia. The acquisition extends many benefits to Cargill by broadening its presence in the growing chocolate market of Asia.

On July 1, 2020, a US-based multinational ingredient provider firm, "Ingredion Inc.," announced that it had completed the acquisition process of the natural ingredients-producing company "PureCircle." Ingredion has paid a total of 185.3 million pounds to "PureCircle" to complete the process and obtain 75% of the controlling stake.

COVID-19 Impact: Positive impact on the global polyol sweeteners market

However, consumers increased their health consciousness about healthy foods. The increased food and beverage industry demand has impacted the polyol sweeteners market positively. According to International Confectionery, amid the COVID-19 crisis, the global market for polyol sweeteners, estimated at US$ XX billion in 2022, is projected to reach a revised size of US$ XX billion by 2030, growing at a CAGR of XX% over the analysis period. Sorbitol, one of the segments analyzed in the report, is projected to grow at a XX% CAGR to reach US$ XX billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Xylitol segment is readjusted to a revised XX% CAGR for the forecast period. This segment accounts for XX% of the global polyol sweeteners market.

The global polyol sweeteners market report would provide an access to approximately 53 market data tables, 50 figures and 180 pages.