According to a report,"Mannitol Market Analysis By Application (Food Additive, Pharmaceuticals, Industrial, Surfactants) And Segment Forecasts To 2024", published by Grand View Research, Inc., the global mannitol market is expected to reach USD 418.3 million by 2024. 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.
Key Takeaways from the report:
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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
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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.
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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.
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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.
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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.
U.S mannitol market revenue by application, 2014 - 2024 (USD Million)
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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.
Grand View Research has segmented the global mannitol market on the basis of application and region:
Global Mannitol Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2024)
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Food Grade
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Pharmaceuticals
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Industrial
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Surfactants
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Others
Global Mannitol Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2024)
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North America
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U.S.
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Europe
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Germany
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UK
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Italy
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Asia Pacific
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China
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India
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Central & South America
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Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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