Mannitol Market Opportunity Assessment by Pricing Analysis, Revenue Forecast on Future Scope, Forecast by 2031
The mannitol marketis forecast to exhibit steady growth, with its overall valuation reaching US$ 390.9 Mn in 2021. As per FMI, mannitol sales are expected to surge at 6.8% CAGR over the course of the assessment period. Overall growth forecast for the market will remain positive through 2031.
Growth will continue in response to the growing awareness regarding health and wellness among consumers. Coupled with this, FMI identifies the increasing demand for functional and convenience food as the chief growth driver.
Mannitol is a sugar alcohol with a low-calorie content that is made from hydrogen and fructose. It can be found in strawberries, mushrooms, marine algae, onions, celery, and pumpkins. Mannitol’s natural profile and the clear label will drive sales in the near future. These factors also distinguish it from similar artificial sweeteners.
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Artificial sweeteners have essentially supplanted sugar in the baking industry, particularly as emulsifiers in baking and confectionery. Mannitol is also extensively used in chewing gum as a sweetener. Because of decreasing manufacturing costs and a greater economic scale, the mannitol market is also rising. Food applications of mannitol will continue rising through the course of the forecast period. According to the study, the food industry will account for over 44% of the mannitol market in 2021.
Key Takeaways from the Mannitol Market Study
- Mannitol market will register impressive growth at 6.8% CAGR between 2021 and 2031, driven by increasing demand for low-calorie sweetener
- As consumers move away from conventional sugar in bakery items amid soaring cases of diabetes, the U.S. market will account for 64.1% of mannitol sales in North America
- The EU-4 will represent a lucrative market within Europe, accounting for 36% of mannitol sales in 2021
- With demand for baked items surging at a high pace, the mannitol market will register 5.6% y-o-y growth in the U.K. in 2021
- Despite China’s dominance, mannitol sales are expected to surge at a higher rate in Japan and South Korea
Sugar Reduction in All Processed Food & Beverages Items
Market trends such as the global fight against obesity and diabetes through sugar tariffs and stricter restrictions have continued to gain traction.
According to the World Health Organization (WHO) data, the number of obese persons reached more than 800 million in 2020, and this figure is expected to rise. Furthermore, by 2040, the number of diabetic patients is predicted to rise to 642 million.
This factor is expected to increase demand for sugar replacements like mannitol in the worldwide food and beverage industry, resulting in increased mannitol sales.
Who is Winning?
Consumer preferences change over time and market players need to accommodate those changes. Consumers will switch to another brand if their preferred products are not accessible.
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As a result, manufacturers are feeling the heat and are ensuring that their products meet consumer needs. As a result, high-capital businesses are investing in research and development (R&D) initiatives to meet these changing requirements.
Some of the leading companies offering mannitol are Roquette Frères Company, Cargill Inc, SPI Pharma, Qingdao Bright Moon Seaweed Group Co., Spectrumchemical manufacturing corp., Hebei Huaxu Pharmaceutical Co. Ltd, Rongde Seaweed Co.,Ltd, Ingredion Incorporated, Zuchem Inc, Akhil Healthcare (P) LTD., Pfizer, and other.
Mannitol Market by Category
By End Use:
- Bakery Goods
- Sweet Spreads
- Dairy Products
- Canned Food
- Carbonated Drinks
- Fruit Drinks & Juice
- Powdered Drinks and Mixes
- Solid dosage forms
- Lyophilized preparations
- Medicated confectionery/ Medicated chewing gum
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
Key Questions Answered in the Report
- What is the current valuation of mannitol market?
The mannitol market is expected to reach a valuation of US$390.0 Mn in 2021
- At what rate did the mannitol market grow in the last 5 years?
Over the period of last five years, from 2016 to 2020, mannitol sales grew at 5.5% CAGR
- What are the key trends prevailing in the mannitol market?
Demand for clean-label and low calorie food sweeteners is a key trend in the mannitol market. Considering this, product launches are likely to become more frequent as consumers continue exhibiting high demand for healthy ingredients.
- What are the key factors driving mannitol sales?
Mannitol market will significantly gain from the high demand for sugar alcohol in food. Sales will continue rising in response to the increasing demand for functional and convenience food products.
- What is the cumulative share of top five companies in the mannitol market?
The top five companies, including Roquette Frères Company, Cargill Inc, SPI Pharma, Qingdao Bright Moon Seaweed Group Co., and Spectrochemical Manufacturing currently account for 15% of the mannitol market.
- What is the value share of Japan and South Korea in mannitol market?
Japan and South Korea are estimated to hold a market value share of 33.8% and 14.2% respectively of the East Asia market in 2021.