NEWARK, Del, Sept. 14, 2022 (GLOBE NEWSWIRE) -- The global erythritol market is expected to register a robust CAGR of 7.4% over the forecast period from 2022 to 2032. The global market is anticipated to be valued at US$ 210.3 million in 2022, totaling approximately 429.8 million by 2032. According to the Future Market Insights (FMI) reports, the historical assessment period from 2017 to 2021, registered a significant growth with a CAGR of 6.4%.
Erythritol is a sugar alcohol, also used in place of sugar as a sweetener in the food & beverage industry, in order to enhance the taste of food. Being a widely used product in the food processing equipment industry, erythritol is an efficient alternative to sugar because of its low-calorie content. High-intensity sweeteners account for about 10% of the global sugar economy, of which erythritol an example is.
Erythritol can be extracted through the fermentation of carbohydrates or by reducing sugar with the assistance of hydrogen. Erythritol is known for its low-calorie content and the health benefits associated with the consumption of sweeteners are driving forces that promote the market over the year, which is expected to continue over the forecast period. Furthermore, the surging incidents of obesity and chronic diseases such as Diabetes, are likely to act as a primary driver aiding in fueling erythritol market growth.
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Key Takeaways
- Due to the rising population size of health-conscious consumers, people are rapidly replacing sugar with healthier versions of sweeteners. Consumers are now becoming watchful of the food products they intake, as they are gradually becoming aware of the fact that food consumed by humans often determines the quality of their health.
- In the present era where people have hectic lifestyles, most foods consumed have a relationship with life-threatening diseases like diabetes, cardiovascular diseases, obesity, and many more. Overconsumption of sugar and other high-calorie food products can cause serious diseases such as diabetes or a high sugar level, which are dangerous to consumers’ health. Due to such disadvantages of processed food, Erythritol is widely consumed.
- In addition to that, erythritol is easily digestible and consumers globally are favoring it due to its immense health benefits. Especially adults find it hard to digest high-calorie food products due to which an erythritol is a favorable option.
- The surging demand for natural and high-quality ingredients in the cosmetic industry is yet another crucial reason that helps fuel the industry's growth. Since it helps retain water which makes it a crucial ingredient in skincare products. Furthermore, erythritol helps produce anti-aging serums and night creams owing to its impressive performance against wrinkle formation. Backed by these properties, the erythritol market is expected to facilitate phenomenal growth over the forecast period.
- In addition to several health benefits, erythritol also does not cause tooth decay, nor does it aggravate weight-related diseases like diabetes and obesity. Being an easily digestible ingredient, it produces calories as low as zero kcal/g. These properties are the growth drivers of the erythritol market.
- Over the last few years, demand for artificial sweeteners has significantly increased, owing to a surge in health-conscious consumers. This trend is likely to continue at least for the next ten years. The rising health consciousness and changing lifestyle of consumers in developing countries will give a significant impetus to the market.
Competitive Landscape
Prominent players in the market are actively introducing new sweeteners with extensive application in the food & beverage industry. Owing to these factors, the market growth for erythritol is projected to surge over the projected period.
Foodchem International Corporation, Cargill Inc., Incorporated, JUNGBUNZLAUER SUISSE AG, Shandong Sanyuan Biotechnology Co., Ltd, Van Wankum Ingredients, HYET Sweet
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More Insights into the Erythritol Market
North America is predicted to be the second largest market for the global erythritol market, accounting for a 33.7% share in 2022. Attributing to the rising awareness towards adopting healthy lifestyle habits, the young population is expected to uplift the demand for erythritol in the region. The United States is the main contributor in North America in terms of market revenue and volume.
Europe is considered to be the largest market accounting for about 40.6% share in the Erythritol market. Since there is a rising demand for natural ingredients from the cosmetic industry along with the food & beverage industry, the region is expected to continue its dominance over the forecast period.
According to the recent analysis by Future Market Insights, the Asia Pacific region is yet another domain to witness lucrative growth opportunities due to the growing population of health-conscious consumers and various consumers’ shifts towards the consumption of low-calorie food and beverage products.
Erythritol Market Key Segments
Erythritol Market by Form:
- Powder
- Granular
Erythritol Market by Application:
- Erythritol for Beverage
- Erythritol for Pharmaceuticals
- Erythritol for Cosmetics
- Erythritol for Bakery and Confectionery
- Erythritol for Dairy
- Erythritol for Other Applications
Erythritol Market by Region:
- North America Erythritol Market
- Latin America Erythritol Market
- Europe Erythritol Market
- Asia Pacific Erythritol Market
- Middle East & Africa Erythritol Market
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
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