Product Code: ETC089983 | Publication Date: Aug 2023 | Updated Date: Feb 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
India Sorbitol market currently, in 2023, has witnessed an HHI of 3080, Which has increased slightly as compared to the HHI of 2942 in 2017. The market is moving towards concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
India Sorbitol market is projected to attain a CAGR of 8.5% during the forecast period. The growth of this market can be attributed to its increasing usage in food and beverage products as a sugar substitute, sweetener, thickening agent etc. Additionally, rising health awareness among consumers regarding the benefits associated with natural sweeteners such as sorbitol is expected to drive the market growth further.
Growing demand for low calorie sweeteners and sugar substitutes in order to reduce obesity levels has been driving the adoption of sorbitol in various food & beverage applications. In addition, growing preference for clean label products due to increased consumer awareness regarding adverse effects of artificial ingredients is creating new opportunities for manufacturers operating in the India sorbitol industry. Further, advancements made by manufacturers towards improving production capacities are likely to support the growth of this market during forecast years.
High cost associated with raw materials used in manufacturing process along with stringent government regulations related to extraction and use of multiple chemicals might restrain industrial progress over coming years. Furthermore, fluctuations witnessed within prices of key raw materials may also pose challenge before players working within this space.
Key players operating within India Sorbitol Market include Archer Daniels Midland Company (ADM), Roquette Fr?res S A., Ingredion Incorporated., Gulshan Polyols Ltd., Jungbunzlauer Suisse AG amongst others