The global Mannitol Market is expected to reach USD 418.3 million by 2024, according to a new report by Grand View Research, Inc. Increasing demand for confectionery and bakery products such as candies, chewing gums and lozenges is expected to drive the market growth.
Mannitol is used for coating these products and also has
less calorie content compared to sugar. It is widely used in sugar-free
products on account of its non-hygroscopic nature and is also consumed
primarily by patients suffering from diabetes.
Rising geriatric population base who do not have ready
access to water at times, use mannitol-derived chewing gums. Such a trend is
expected to aid the overall market over the forecast period. Owing to
properties such as cooling sensation in the mouth, good aqueous solubility and
lesser sensitivity towards humidity, mannitol is widely used in food grade
application.
However, excessive consumption of mannitol may cause
laxative effect among human beings. Such a trend is anticipated to negatively
impact the global demand along with its prices over the future years.
Various regulations have been issued by European and the
U.S. governments such as E421, which have been favorable to the industry growth
over the next eight years. Moreover, there have been lots of technological
advances in recent past to produce cheaper raw materials such as inulin which
is a polymer of fructose and derived from plant tubers. These are expected to
create new avenues for industry participants.
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Further key findings from the report
suggest:
- The global mannitol market demand was 16.6 kilo tons
in 2015 and is expected to reach 35.9 kilo tons by 2024, growing at a CAGR
of 9.0% from 2016 to 2024
- Food additive emerged as the leading application
segment and accounted for 36.9% of total market volume in 2015. Increasing
demand for low calories sugar on account of growing health awareness is
expected to drive this segment over the forecast period.
- Pharmaceutical is presumed to be the fastest growing
application segment at an estimated CAGR of 9.6% from 2016 to 2024.
Mannitol is used as excipients in pharmaceutical tablet formulation and
also helps in treating diseases related to kidney & brain.
- Asia Pacific emerged as the most dominant regional
market in 2015 and held over 60% of global demand for the same year.
Changing lifestyle coupled with the prevalence of diseases related to
sugar consumption in China, Japan and India are expected to benefit the
regional market.
- Key companies in the industry include Roquette,
Cargill, SPI Polyols, Inc., SPI Pharma, Bright Moon Seaweed, Singsino
Group Ltd., Hebei Huaxu Pharmaceutical Co., Ltd, EMD Millipore and Moga
International Ltd. The market witnesses’ different dynamics regarding
market strategies, M&As, and product diversification.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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