Erythritol Market: Global Industry Analysis and Forecast (2023-2029)

Erythritol Market size was valued at US$ 0.23 Bn in 2022 and the total Erythritol revenue is expected to grow at 6.5% through 2023 to 2029, reaching nearly US$ 0.36 Bn
Global Erythritol Market Overview:
Erythritol is an organic compound that is often used as a food additive or as sugar alcohol. Erythritol is 65-70% as sweet as table sugar i.e. sucrose but its involvement in daily food intake doesn’t affect blood sugar and it doesn’t cause any teeth decay in its consumers because it is a non-caloric organic compound. Global Erythritol occurs naturally in some fruits but from an industrial standpoint, it is made from a yeast called Moniliella pollinis.

The fact that this organic compound is made from yeast; as a result Erythritol market is indirectly affected by the yeast ingredients market. It is made commercially available in different varieties i.e. granular and powder to different industries like pharmaceuticals (as a flavoring agent to change the taste of medicines) and food & beverage. The Food and Drug Administration of the United States approved the use of Erythritol in Food & Beverages as a safe to consume product because of its non–caloric nature.

The global erythritol market report provides extensive analysis. The market report presents an analytical idea of the global erythritol market by type, applications, major players, and key regions and countries, market share, and growth opportunities. The report also has a comprehensive analysis of the competitive scenario of the global erythritol market.

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Global Erythritol Market Dynamics:
A major driver of the global erythritol market is its sucrose-like yet non-caloric nature. The FDA deemed erythritol safe to consume because of this nature. According to a study published by the World Health Organization, around 400 million people in the world suffer from diabetic complications. These people are expected to be the potential consumers of the global erythritol market in the forecast period (2022-2029) due to its low to no effects on blood sugar. This is the reason why erythritol is primarily used in the making of low glycemic sweeteners which help in appetite and weight management.

A major restraint in the global erythritol market is the vast competition among different key players to dominate the market. A major challenge in the global erythritol market is the threat of other substitutes like stevia which is also a zero-calorie natural sweetener. One advantage that erythritol has over stevia is that the legal status of stevia varies from country to country. The growing health consciousness of global consumers about diabetes is projected to drive the growth of the market in the forecast period (2023-2029).
Global Erythritol Market Segment Analysis:
By Type, the segments are Erythritol Powder and Erythritol Granular. The Erythritol Powder segment dominated the global erythritol market share in the year 2022. This segment is also projected to grow at a CAGR of 6.3% in the forecast period (2023-2029). The granular segment is projected to witness moderate growth in the same forecast period. Erythritol powder is used by many pharmaceuticals to change the taste of medicine. Its availability in powder form makes it easier for pharma companies to put it directly in medicines. The same is true for the Food & Beverage industry. The powder form makes it easily soluble in drinks and other sweets that’s why these businesses prefer erythritol in powder form rather than granular. This is projected to restrain the growth of the granular segment in the forecast period (2022-2029).

By Application, the segments are Confectionery and Beverages, Personal Care, Pharmaceuticals, and Others. The Confectionery and Beverages segment held the highest share in the global erythritol market in 2020. This segment is also projected to grow at a higher CAGR of 5.5% in the forecast period (2022-2029). This is due to the high consumption of sweets and bakery products globally. This growth is also influenced by consumers who prefer a low sugar diet or the consumers who want to control their obesity. The use of erythritol in personal care products is also projected to increase at a rapid rate as it causes almost zero side effects on the human body as stated by the European Commission in their annual report. There is a huge demand for erythritol in the pharmaceutical industry not just to change the taste of medicines but also to include them in the dietary supplements given to patients suffering from Type II diabetes or more severe cases like diabetic retinopathy.


Global Erythritol Market Regional Insights:
The North American region dominated the global erythritol market in the year 2022 in terms of share. This region is also projected to grow at a highest CAGR of 6.7% in the forecast period (2022-2029). According to a study published by the WHO, United Stated is one of the most obese countries in the world. This means most of the consumers in the North American region are at risk of being diabetic in the future. This is projected to drive the growth of the Erythritol market in this region. Also, there is a high demand for erythritol in the US because of the presence of many major pharmaceutical companies in the country.

The European region followed the North American region in the global erythritol market in 2022 in terms of share. This region is also projected to grow at a moderate CAGR of 3.5% in the forecast period (2022-2029). It is projected that the Food & Beverages industry in the EU countries is the potential segment of the erythritol market that will emerge as the leading segment in this region. The Asia- Pacific region followed the European region in the global erythritol market in 2022. This region is projected to grow at a high CAGR of 5.5% in the forecast period (2022-2029).

The objective of the report is to present a comprehensive analysis of the global Erythritol market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the global Erythritol market dynamics, structure by analyzing the market segments and projecting the global Erythritol market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Erythritol market make the report investor’s guide.
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Erythritol Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 0.23 Bn.


Forecast Period 2023 to 2029 CAGR:
6.5 %
Market Size in 2029:
US $0.36 Bn.


 Segments Covered:
by Type
Erythritol Powder
Erythritol Granular


by Application
Confectionery and Beverages
Personal Care
Pharmaceuticals
Others


by Form
Powder
Granular



Global Erythritol Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Global Erythritol Market Key Players
1. Ingredion Inc.
2. Cerestar Holding B.V.
3. HYET Sweet
4. Unterhofer & Partner KG
5. Nikken-Chemical
6. Mitsubishi-Chemical Foods
7. Futaste
8. Ingredients Tech.
9. JUNGBUNZLAUER SUISSE AG
10. Shandong Sanyuan Biotechnology
11. Zhucheng Dongxiao Biotechnology
12. Baolingbao Biology
13. Zibo ZhongShi GeRui Biotech
14. Zhucheng Xingmao Corn Developing
15. TAOSIGN Corporation
16. Baolikang Biological Feed Co. Ltd.

FAQs:

1. Which is the potential market for in terms of the region?
Ans. The North American region is the potential market for in terms of the region.

2. What are the restrains for the market?
Ans. A major restraint in the global market is the vast competition among different key players to dominate the market.

3. What is expected to drive the growth of the market in the forecast period (2023-2029)?
Ans. A major driver of the global  market is its sucrose-like yet non-caloric nature.

4. What is the projected market size & growth rate of the Market?
Ans. Market size was valued at US$ 0.23 Bn in 2022 and the total revenue is expected to grow at 6.5% through 2023 to 2029, reaching nearly US$ 0.36 Bn.

5. What segments are covered in the Market report?
Ans. The segments covered in the Market report are type, application and region.