A new report published by QY Research offers insights on the global xylitol market. The xylitol market has been experiencing steady growth since the past few years. During the 2018-2024 timeline, the global market for xylitol is expected to reflect a good growth. In 2018 the global xylitol market was valued at US$312.04 mn and by the end of the assessment year of 2024, it is estimated to touch more than US$412.75 mn as it is growing at a moderate CAGR of 4.77% throughout the period of forecast.
Global Xylitol Market: Drivers and Restraints
Increasing uses of xylitol are predicted to help in the global market growth. Rapid pace of urbanization and change in consumer patterns showing inclination toward sugar-free products have driven the growth of global xylitol market. Xylitol is used in a broad range in food industry such as for confectionery, dairy products, drinks, and others, which have helped the market to rise. The demand for sweeteners in candy and chewing gums have also boosted the market growth. The companies are focusing on launching products depending on the extensive demand. The manufacturers are exploring the potential of xylitol in pharmaceutical usage. Application of xylitol in pharmaceutical products is gaining traction in recent years. Further, there are also potential usages of xylitol in the areas of personal care.
Pure xylose is needed to create xylitol. But it is expensive and the supply is relatively inadequate. As a result of this, the price of xylitol has become higher, which have a negative effect on the growth of global xylitol market. The substitute of xylitol such as maltol, sorbitol, and mannitol among others are expected to act as an obstruction to the growth of xylitol market.
Global Xylitol Market: Segment Analysis
The global xylitol market is segmented by type and application. In terms of type, the market is segmented into normal grade and pharma grade. In terms of type, the normal grade is expected to remain dominant in the global xylitol market. This segment in the global xylitol market was worth US$316.39 mn in 2018 and promises to increase with the passing time.
In terms of application, the market is segmented into the food industry, pharmaceutical, personal care, and others. The food industry is further segmented into confectionery, drinks, dairy products, and others. From the food industry, the xylitol market share hit over 88.26% in 2018 and it is escalating gradually. The pharmaceutical usage is also expected to increase at a CAGR of 3.56% over the forecast period.
Global Xylitol Market: Regional Analysis
On the basis of region, the global xylitol market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. China is the dominant region in the global xylitol market in terms of demand. China xylitol market was valued US$ 150.19 mn in 2018 and is expected to expand at a value CAGR of 5.08% over the forecast period. Europe market is also expected to expand at a moderate rate of 3.7% in terms of revenue over the aforesaid period due to the steady increase of consumption in this region.
Global Xylitol Market: The Key Players
The key players studied in the global xylitol market research report are Roquette, Danisco, Futaste, Huakang, Shandong Longlive Bio-Technology, Shandong LuJian Biological, and Yuxin Xylitol Technology. These are the key vendors those are included in this report.
Roquette has decided to expand a new segment named Beauté. It is innovative and specialized to offer high-performing and natural-based ingredients for cosmetics. The company has reinforced its strategic partnership with an innovative USA based specialty ingredient company Sytheon for the personal care market. This partnership is the first step in speeding up innovation to help Roquette Beauté to get benefit from an ecosystem of expertise. Such initiatives help a company to add to the market growth and motivates to stay ahead in the business with healthy competition.
Full Report Overview@ https://www.qyresearch.com/index/detail/338115/global-xylitol-sales-market