Global Erythritol Market is Segmented By Form (Powder, Granular), By Application (Pharmaceuticals, Food and Beverages, Confectionery, Personal Care, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Report Overview
Global Erythritol Market is valued at USD XX million in 2021 and is forecasted to reach USD XX million by 2031, growing at a CAGR of XX% during the forecast period (2024-2031).
Erythritol is a sugar alcohol derived from starch that has been digested to create glucose by enzymes. It's available in powder and granular forms, making it appropriate for usage in a wide range of industries, including food & beverage, pharmaceuticals, and confectionery. Due to the growing understanding of dermatological aspects of healthcare, market demand is likely to be encouraged by the rising desire for natural and high-quality ingredients in cosmetic preparations. Erythritol is widely utilized in the cosmetics industry due to its moisture retention and regeneration properties. Furthermore, due to the rapid acceptance of manufacturing anti-aging serums and night creams due to their good performance against wrinkles and poor cleaning properties, the business is predicted to grow.
Source: DataM Intelligence Analysis (2021)
Market Dynamics
Obesity prevalence is on the rise, owing to which the demand for weight control products is on the rise
The sucrose-like but non-caloric characteristic of erythritol is a primary driver of the global market. Because of this, the FDA declared erythritol to be safe to consume. Diabetic problems affect roughly 400 million individuals worldwide. Due to its little to no impact on blood sugar, these people are likely to be prospective consumers of the worldwide erythritol market in the forecast period. Erythritol is a low-glycemic index and low-calorie sweetener that helps to boost metabolic rate without triggering vitals like insulin and cholesterol. The market is gaining popularity since it is 60-70 percent sweeter than table sugar and almost non-caloric. This is why erythritol is predominantly employed in producing low-glycemic sweeteners that aid in hunger control and weight loss.
A major limitation is the considerable competition among different main competitors to dominate the worldwide erythritol market. Other substitutes, such as stevia, a zero-calorie natural sweetener, pose a significant threat to the worldwide erythritol industry. However, the legal status of stevia differs from nation to country, which gives erythritol an advantage over it.
Market Segmentation:
Erythritol powder dominated the global market in the year 2021
In 2021, the erythritol powder segment dominated the worldwide erythritol market share. This segment is expected to develop at a CAGR of XX% in the projection period. Many pharmaceuticals utilize erythritol powder to alter the taste of their products. Its powder shape makes it easier for pharmaceutical companies to incorporate it straight into medicines. The food and beverage business is no exception. Because erythritol in powder form is more easily soluble in drinks and other treats, these businesses prefer erythritol in powder form.
By application, the confectionery accounted for the largest share of the global erythritol market. This segment is expected to increase at a higher CAGR of XX% (2022-2029) in the projection term. This is related to the widespread consumption of sweets and bakery products worldwide. Consumers who prefer a low-sugar diet or who want to control their weight impact this growth. According to the European Commission's annual report, erythritol's use in personal care products is expected to grow rapidly because it has essentially no adverse effects on the human body. In the pharmaceutical sector, erythritol is in high demand to change the flavor of medicines and incorporate it in dietary supplements for patients with Type II diabetes or more serious conditions like diabetic retinopathy.
Market Geographical Share
North America is expected to dominate the global erythritol in the year 2021
In terms of market share, the North American region dominated the worldwide erythritol market in 2021. This region is also expected to develop at the fastest rate in the projection period, with a CAGR of XX%. According to a survey published by the World Health Organization, the United States is one of the world's most obese countries. This suggests that most North American consumers are in danger of becoming diabetic in the future. The Erythritol market in this region is expected to develop due to this. In addition, because of several big pharmaceutical companies in the United States, there is a strong demand for erythritol. Europe erythritol market is expected to grow with a CAGR of XX% during the forecast period. The Food & Beverage industry in EU countries is expected to be a potential segment of the erythritol market that will emerge as the region's leading segment.
Source: DataM Intelligence Analysis (2021)
Market Major Players
The global erythritol market is fragmented, and the global players are competing intensely with local and regional players and private labels. Erythritol market is competitive and major players operating in the industry include Cargill, Tate & Lyle, Cerestar Holding B.V, Foodchem International Corporation, Baolingbao Biology, and Ingredient Technologies. To boost their market share, manufacturers are focusing on developing new flavors and products. In May 2020, Ingredion launched Erysta, the company’s new sweetener made from an Erythritol polyol that has undergone a fermentation process, according to Food Ingredients First. In October 2019, Icon Foods introduced an innovative new sweetener blend called IconiSweet, which combines allulose, erythritol, stevia, and monk fruit.
COVID-19 Impact: Positive impact on the erythritol market
The uncertain pandemic circumstances that happened around the world have had a significant impact on the global erythritol market. COVID-19 has an impact on the final product supply chain as well as the raw material ingredients. Because of the concentration of several significant players operating from these regions, the North American region, followed by Europe and Asia Pacific, plays a critical role in the erythritol market. As a result, supply restrictions are expected in the market, as erythritol manufactured by many key players in these regions serves end-users all over the world. Regional consumption, on the other hand, is expected to increase in the respective market, as consumers increasingly concentrate on weight management and compliance to various diets in order to preserve excellent health. The demand for erythritol is expected to rise as a result of all of this. With the onset of the coronavirus crisis, the erythritol industry has seen a significant upswing, with an increasing surge in demand for less sugary and immunity-boosting products as consumers seek ways to improve their overall health and wellness. Most health-conscious customers have turned to low-calorie or sugar-free products as a result of the COVID-19 pandemic. As a result, manufacturers and product formulators have been driven to use erythritol due to rising health consciousness and strong demand for sugar-reducing solutions and organic foods among the global population.
Why Purchase the Report?
- Understand the current market scenario and viability of global erythritol market over the forecast period
- Visualize the composition of the global erythritol market in terms of form and application to identify major players, growth potential, and market strategies
- Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
- Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market
What we offer?
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
- Excel data sheet with valuable data points of the global erythritol market – Regional and Country level segmentation
- Product mapping in excel for the key products of all major market players
- Market share analysis covering business revenues ($) and revenue share (%) of key market players
The global erythritol market report would provide an access to approximately 45 market data tables, 45 figures and 180 pages
Target Audience:
- Food and Beverages Processing Companies
- Food Service Industry
- Cosmetic Companies
- Industry Investors
- Education & Research Institutes
- Research Professionals
