Polyol Sweeteners Market

Polyol Sweeteners Market Size and Forecast (2023-2028):

The Global Polyol Sweeteners Market size is expected to grow at a CAGR of 6.3% during the forecast period 2023-2028 to reach USD 6.9 billion by 2028 from USD 3.6 billion in 2022.

Market Overview:

Polyol sweeteners are also known as sugar alcohols or polyhydric alcohols. These are low-calorie alternatives to sugar and are commonly used in food and beverages. Polyols can be extracted naturally from sources like fruits and vegetables, but also they can be produced artificially. Sorbitol, maltitol, etc., are a few of the most used polyol sweeteners. Polyols sweeteners are used as bulking agents and help improve food and beverages' texture, hence widely used in bakery & confectionery foods and dairy products. They play a crucial role in the diet of diabetic people by providing a sweet taste without causing a rapid increase in blood sugar levels of them. Hence, polyols sweeteners are mainly used in sugar-free and reduced-calorie products.

Recent Developments in Polyol Sweeteners Industry:

• In 2021, Reduce Sugar; not Flavor was the campaign employed by Truvia to promote its range of polyol sweeteners.
• In May 2020, A polyol sweetener named ERYSTA Erythritol was introduced by Ingredion, Inc. EMEA to satisfy customers' growing demand for "no added sugar" and "calorie-reduced" label claims.

REPORT COVERAGE:

Drivers:

The growing health consciousness among consumers is majorly driving the polyol sweeteners market growth. Nowadays, more people are becoming health conscious to promote a healthy lifestyle and well-being. Primarily, health-conscious people are seeking ways to reduce calories and sugar in their diets. Polyol sweeteners are the best fit for this consumer demand as they taste sweet, like table sugar but do not have any bad or harmful effects on the consumers. It is mainly consumed by people with diabetes. These properties of polyol sweeteners are contributing to an increase in the market demand for the growing health and wellness trend among consumers.

The rising number of people with diabetes and obesity is further driving the market demand. Recently, people have been busy with their work, and they are having lots of fast food and sugary food, which is leading to cause obesity and diabetes. But this made many people realize the importance of having healthy food. Therefore polyol sweeteners are in great demand among these health-aware consumers as they provide a sweet taste like sugar, but they are with reduced calories and do not raise blood sugar levels. Due to this, polyol sweeteners are serving as a great option for the rising concerns of diabetes and obesity. This mainly contributes to a market size expansion.

The increased adoption of polyol sweeteners in the food and beverage industry is further driving the market trend. As the demand for healthier food alternatives is growing, the food and beverages industries are highly adopting polyol sweeteners in their preparations of various products. They are majorly used in various food products, such as cakes, cookies, yogurt, beverages, candies, etc., to provide them a sweet taste as sugar but with reduced calories, which is good for health than normal sugar. So, the food and beverage industry, by offering various food alternatives with polyol sweeteners, attracts a wide consumer base which leads to boosting the polyol sweeteners market demand.

Restraints:

One of the major restraints of polyol sweeteners market growth is the high cost of production. The preparation of polyol sweeteners involves a more complicated process which adds additional costs. Due to this, the cost of these sweeteners is higher than regular sugar, which results in using normal sugar instead of polyol sweeteners in many food industries. Also, the final products that are made with the use of polyol sweeteners cost more than the products made with normal sugar. And people with low budgets can not afford these expensive food products, and this is retraining the market demand and so the expansion.

The growing competition from other alternative sweeteners is limiting the market size expansion globally. In the market, there are other sweeteners like stevia available with reduced calories and less sugar or sugar-free. These sweeteners provide more alternatives for people who are seeking to minimize sugar in their diets. As there are various other alternatives available with the same benefits, some people might prefer them over polyol sweeteners. This can lead to a decline in market demand, and it affects the shares of the market due to heavy competition.

Opportunities:

The growing sugar-free and reduced-calorie products market is offering significant growth opportunities for the market. As more people are becoming aware of what to consume and in how much amount to consume so that they will be fit and fine, it is raising the demand for reduced-calorie and sugar-free products. So, this can be a great chance for polyol sweeteners as they are the perfect fit for this increasing demand as they give a sweet taste to products but with reduced calories and sugar. This attribute can drive the market demand significantly.

The ongoing innovation and development of polyol sweeteners is further providing significant opportunities for the polyol sweeteners market expansion. There is a lot of scope for new and innovative polyol sweeteners. The food and beverage industry manufacturers can try different combinations of ingredients and advanced technologies to create sweeteners that can be used in a variety of foods and beverages. With the help of this, food industries can introduce new and versatile sweeteners that can be widely used in numerous food products. This can attract a large consumer base and contribute to an expansion of the market size.

COVID-19 Impact on Polyol Sweeteners Market:

COVID-19 significantly impacted the market. The market is negatively impacted by various factors and challenges, such as supply chain disruptions, restrictions on transportation, social distancing, etc. Due to this, delays happened in the production processes of polyol sweeteners, and so the delays in deliveries to the preparation of the final products with the use of these sweeteners. This resulted in a declining market share. However, the pandemic had a positive impact on the market. As consumers became more health conscious during the lockdown due to increased fear of covid, the demand for sugar-free and reduced-calorie food was raised. This attribute induced the demand for the market during the pandemic.

Polyol Sweeteners Market Segmentation Analysis:

By Type:

• Sorbitol
• Maltitol
• Isomalt
• Erythritol
• Xylitol

The sorbitol segment is anticipated to dominate the market during the projected period. Because it is found naturally in fruits or also can be produced industrially, and it is widely used in various food and beverages as a substitute for normal sugar as it provides a sweet taste with reduced calories and sugar. This attribute influences the shares of the market. At the same time, the maltitol segment is expected to grow at the fastest CAGR during the projected period. As it is produced from maltose which is a sugar found in malted grain, it provides a sweet taste without high-calorie content and is used in making sugar-free products. This is inducing an increase in the demand for the market.

By Form:

• Powder/Crystal
• Liquid/Syrup

The powder/ crystal segment is leading the polyol sweeteners market share during the projected period. These forms of polyol sweeteners are mainly used in dry mix applications like powdered beverages, baking mixes, tabletop use, etc., in bakery, confectionery, and dairy products. However, the liquid/syrup form is expected to grow significantly in the upcoming years. Owing to the wide use of liquid sweeteners in beverages, and syrups in flavoring desserts, sauces, etc., contributes to boosting the market growth.

By Application:

• Bakery & Confectionery
• Oral Care
• Pharmaceuticals
• Beverages
• Dairy

The bakery and confectionery segment is ruling the polyol sweeteners market during the projected period. Because they are extensively used as sugar substitutes in bakeries and confectionery to prepare various food products like cakes, cookies, chocolates, bread, pastries, desserts, etc., also; they are used in making sugar-free candies, cookies, and chewing gums. As they provide desired sweetness with a reduced calorie and sugar content, it is in high demand in this segment and hence majorly influencing the shares of the market. At the same time, the oral care segment is expected to grow at the fastest rate. Because polyol sweeteners are widely used in oral care products like sugar-free mints, candies, and chewing gums, especially xylitol is used, as it does not induce any tooth decay and prevents bacteria in the mouth. This factor is influencing the market demand.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

By Region Analysis:

The Europe region is anticipated to dominate the polyol sweeteners market share during the forecasted period. The increasing focus on health awareness and concerns about obesity and diabetes among consumers in Europe is driving the demand for the market. Also, polyol sweeteners are used in detergents, foaming and wetting agents, etc., and the increased demand for plant-based products in this region is further influencing the market shares. However, the Asia Pacific region is expected to grow at the fastest CAGR during the forecasted period. With the rising population of diabetic people in Asian countries, demand for low-calorie sweeteners such as polyol sweeteners is highly increased in this region. Also, the increased demand for sugar-free products is further contributing to an expansion of the polyol sweeteners market size.

Key Players in the Market:

Major Key Players in the Global Polyol Sweeteners Market are

• Cargill
• Archer Daniels Midland Company
• Nutra Food Ingredients
• E.I. Du Point De Nemours and Company
• Roquette Frères S.A.
• Tereos Starch & Sweeteners
• Gulshan Polyols Ltd.
• Südzucker AG