February 03, 2021
According to the research report titled ‘Global Maltitol Market Size study, By Form (Powder, Syrup) By Application (Fermented Products, Hard Candies, Cream filling, Chocolate, Coating, Chewing-gum, Fruit filling, Ice-cream, Fondant) By end use (Bakery, Confectionary, Diary, Frozen food, Pharmaceutical) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global maltitol market was appraised at USD 0.18 billion in the year 2019 and is expected to grow with a CAGR of 6% between 2020 and 2027.
Flourishing food & beverage sector coupled with rapid expansion of the pharmaceutical vertical are some of the key factors driving the growth of global maltitol market. According to Statista, the food & beverage sector is likely to amass returns worth USD 336,838 million by the year 2024.
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For those unaware, maltitol is a sugar alcohol byproduct which is widely adopted as a sugar alternative. It also appears under names such as xylitol and sorbitol and boasts of similar properties to that of saccharose. Thus, collective inclination towards adopting sugar-free food & beverages are aiding towards the market expansion.
Additional factors such as shifting food preferences, rapid urbanization, and growing population are also stimulating global maltitol industry outlook. However, strict regulatory outlook and high concerns regarding the side effects of the product could potentially hamper the industry remuneration in the subsequent years.
From the regional point of view, Asia-Pacific maltitol market is predicted to showcase a robust compound annual growth rate during the period of 2020-2027. Growing population, rising per capita income and booming food & beverage as well as pharmaceutical industries are favoring the regional market outlook.
Meanwhile, Europe and North America are likely to emerge as major revenue generators for global maltitol industry in the ensuing years. Improving health and dental awareness, growing demand for natural and organic food products, and rising adoption of sugar-free diets are facilitating the business scenario in the two regions.
Shaoxing Marina Biotechnology Co. Ltd., Zhejiang Huakang Pharmaceutical Co. Ltd., Tereos Starch & Sweeteners s.a.s., MC-Towa International Sweeteners Co. Ltd., Gillco Ingredients, Dancheng CAIXIN Sugar Industry Co. Ltd., Cargill Incorporated, Ingredion Inc., Roquette, and Mitsubishi Shoji Foodtech Co. Ltd. are the key competitors in global maltitol market.