Latin America Sorbitol Market Report and Forecast 2024-2032

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In 2020, the region produced 80 thousand metric tons of the polyol. Although Latin America occupies a relatively small portion of the global market, it is expected to see a healthy growth in the coming years aided by the global market growth. The global sorbitol market attained a production volume of nearly 2.6 million metric tons in 2020 and is expected to grow further in the forecast period of 2024-2032, growing at a CAGR of 2.4%.

Globally, corn is the leading feedstock of the polyol. Between 2017-2018, nearly 1,045 million metric tons of corn was produced and it is expected to attain a production volume of 1,079 million metric tons by 2021. Brazil is a leading producer of corn. In 2017, the country was also the second largest exporter of corn, just behind the US. Brazil is also a major producer of cassava, another significant feedstock. However, Brazil imports most of its sorbitol to meet the domestic demand. In 2018, the country was the largest importer of the substance in the Latin America region.

The global market for the polyol is being driven by a growing health consciousness among the consumers, especially due to the growing occurrences of obesity and type-2 diabetes. In 2016, nearly 39% of the global adult population was overweight, with 13% being obese. The cases of type-2 diabetes have also been on the rise, with 8.5% of the adult population afflicted by obesity in 2014, increasing from 4.7% in 1980. Diabetes has been especially rising in the low and middle-income countries and has been witnessing a rising rate in the Latin America region too. With the governments in the region encouraging people to avoid sugar and sugar-based food, consumers are seeking out sugar alternatives. This has provided a further impetus to sorbitol market growth in the area.

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Market Segmentation

Market Analysis

The Latin America sorbitol market is being driven by the growing demand for low-calorie foods and beverages, especially, for diet carbonated soft drinks where the polyol finds application as a sugar substitute. The rising population of people afflicted by lifestyle diseases related to sugar consumption like obesity and type-2 diabetes is leading to various government initiatives encouraging people to avoid sugar. The Health Ministry in Brazil aims to reduce sugar levels in several industrialised food products by 144, 000 tons by 2023. With the consumers also becoming more health conscious within the region, they are seeking healthier and sugar-free foods in which sorbitol finds extensive application. The expanding beverage sector in the region is also aiding the industry for the polyol. Latin America and Caribbean, together, account for 17.5% of the beverage industry. The rising middle-class population in the area, which is expected to grow substantially over the next ten years, is also aiding the polyol market growth.

The growing cosmetics industry in Latin America is also aiding the market for the polyol. Sorbitol is used as a skin-conditioning agent, as a stabiliser in gels and provides softness to hair. It is also used as a thickener in cosmetics. Latin America represented 11% of the global cosmetics industry in 2017 and was led by Brazil, Colombia, and Chile. With the oral care market projected to witness a healthy growth in the region in the forecast period, the sorbitol industry will witness a further growth. Toothpaste is a major end-use segment for the polyol globally where it is used as a sweetening agent which does not cause cavities.

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Competitive Landscape

The report gives a detailed analysis of the following key players in the Latin America sorbitol market, looking into their capacity, market share, and latest developments like expansions of capacity, mergers, acquisitions, and investments, and plant turnarounds:

• Roquette Frères SA
• Cargill, Incorporated
• Ingredion, Incorporated 
• Archer Daniels Midland Company
• Tereos Starch & Sweeteners

The EMR report provides an insight into the manufacturing process of sorbitol as well as giving a value chain analysis of the market. The report also gives an in-depth analysis of the market by providing a SWOT analysis along with an analysis of Porter’s Five Forces.