Mannitol Market Poised for Substantial Growth, Reaches Over US $300 Mn in 2021
The global mannitol market, currently valued at over US $300 Mn, is expected to experience significant growth in the long term as mannitol gains traction worldwide as a low-calorie sweetening agent. Mannitol’s expanding application base across various industries, including pharmaceuticals, food and beverages, medical, and analytical chemistry, is a key driver for the growth of the global mannitol market. Additionally, mannitol’s approved status by the US FDA for medical applications further contributes to its growth prospects.
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Rising Demand from the Food and Beverages Industry Creates a Strong Growth Platform for the Mannitol Market
Mannitol’s usage as a low-calorie sweetener in the food and beverages sector, particularly in bakery and confectionery products, is a major factor fueling its demand. This versatile sweetener is favored for its low-calorie content compared to traditional sugars. Its functional properties also make it suitable for use in various food products such as precooked pasta, butter, infant formula, and frozen fish. Moreover, mannitol’s application in chewing gums as a sweetener suitable for people with diabetes further drives its adoption. The cost-effective production of mannitol and its wide-ranging applications, including use as a food additive, are expected to propel the growth of the mannitol market.
Additionally, mannitol’s use as a coating agent and its non-hygroscopic property contribute to its popularity in food products, enhancing their shelf life. The substance’s high melting point makes it ideal for products that require resistance to discoloration at high temperatures, such as ice creams, sweets, and frozen desserts. As consumer demand for low-calorie alternatives grows, the beverage sector is also embracing mannitol as a sugar substitute in products like coffee, juices, and flavored drinks. This shift toward low-calorie options is driven by concerns related to obesity and diabetes, further boosting mannitol’s application in the beverage industry.
Asia Pacific Presents Opportunities for Mannitol Market Growth
The consumption of mannitol in developing economies across Asia Pacific is projected to surge in the coming years. Emerging economies such as India and China are expected to contribute significantly to the market. As health awareness grows and dietary habits evolve, consumers in the region are increasingly seeking low-calorie options. Economic development and changing lifestyles have led to a higher demand for packaged and convenience foods, creating a market for artificial sweeteners like mannitol. Furthermore, mannitol’s relatively low glycemic index makes it suitable for consumption by individuals with diabetes, which is prevalent in the region. With China and India leading the trend, the growing number of diabetic patients in Asia Pacific is set to provide ample opportunities for the mannitol market’s expansion.
Mannitol Market: Competitive Landscape
Key players in the mannitol market are actively engaging in acquisitions, collaborations, and partnerships to strengthen their positions. For instance, Aptar Pharma acquired Pharmaxis’s Orbital DPI license in August 2022, enhancing its presence in the respiratory domain and bolstering its leadership in respiratory services and devices for patients.
Major players in the mannitol market include SPI Pharma, Pfizer, Cargill Inc., Rongde Seaweed Co. Ltd., Zuchem Inc., Roquette Freres Company, Akhil Healthcare Pvt Ltd., Ingredion Incorporated, Singsino Group Ltd., Qingdao Bright Moon Seaweed Group Co., Hebei Huaxu Pharmaceutical Co. Ltd., SPI Polyols Inc., Spectrum Chemical Manufacturing Corporation, EMD Millipore, Moga International Ltd., and Yuanrun Chemical. These players are actively contributing to the growth of the mannitol market through innovative solutions and strategic initiatives.
Browse Mannitol Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: https://www.fairfieldmarketresearch.com/report/mannitol-market
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