IMARC Group, a leading market research company, has recently releases report titled “Mannitol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” The study provides a detailed analysis of the industry, including the global mannitol market size, share, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the mannitol market?
The global mannitol market size reached US$ 433.2 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 647.0 Million by 2032, exhibiting a growth rate (CAGR) of 4.57% during 2024-2032.
Factors Affecting the Growth of the Mannitol Industry:
- Pharmaceutical Industry Demand:
Mannitol's extensive use in the pharmaceutical industry is significantly driving the market growth. As a sugar alcohol, mannitol's unique properties make it an invaluable excipient in various drug formulations. Its non-hygroscopic nature, which prevents it from absorbing moisture from the environment, ensures the stability of pharmaceutical formulations, particularly those sensitive to moisture. Additionally, mannitol's excellent compressibility allows for the production of tablets with high mechanical strength, facilitating easier handling, packaging, and transport. This characteristic also aids in the creation of chewable and orally disintegrating tablets (ODTs), which are beneficial for pediatric and geriatric patients who may have trouble swallowing traditional tablets.
- Food and Beverage Industry Growth:
The food and beverage (F&B) industry is a major user of mannitol, primarily due to its application as a low-calorie sweetener and texturizing agent. As consumers become increasingly health-conscious, there is a rising demand for healthier food options, including those that are low in sugar and calories. Mannitol, being less caloric than regular sugar, serves as an ideal sugar substitute in various food products, including sugar-free candies, chewing gums, and baked goods. Its low glycemic index makes it suitable for diabetic-friendly products, catering to the growing diabetic population worldwide. Additionally, mannitol's ability to provide a cooling sensation upon dissolution, due to its negative heat of solution, enhances its appeal in confectionery items.
- Increasing Prevalence of Diabetes:
The increasing prevalence of diabetes is a critical factor driving the demand for mannitol. Diabetes, a chronic condition characterized by high blood sugar levels, requires careful management of diet, particularly sugar intake. Mannitol, with its low glycemic index, presents itself as an excellent alternative to conventional sugars, making it suitable for diabetic-friendly products. As a sugar alcohol, mannitol does not cause any spikes in blood glucose levels, making it a safer sweetening option for diabetic patients. The global rise in diabetes cases is alarming, driven by factors such as rising geriatric populations, sedentary lifestyles, and unhealthy dietary habits. This surge has led to a heightened demand for food and beverage (F&B) products that cater to the dietary needs of diabetics, including sugar-free and low-sugar alternatives.
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Mannitol Market Report Segmentation:
Market Breakup by Form:
- Powder
- Granules
Powder holds the majority of the market share because its ease of use in various applications, such as pharmaceuticals, food products, and personal care items, which enhances its versatility and demand.
Market Breakup by Application:
- Food
- Pharmaceuticals
- Industrial
- Others
Food accounted for the largest market share due to the increasing consumer preference for low-calorie and diabetic-friendly food products, driving the widespread use of mannitol as a sugar substitute.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America's dominance in the market is attributed to the high prevalence of chronic diseases like diabetes, robust food and pharmaceutical industries, and strong consumer awareness regarding health and wellness products.
Global Mannitol Market Trends:
The widespread product utilization in cosmetic and personal care products as a humectant and texturizer, is contributing to the market growth. Additionally, the rising geriatric population, which requires more pharmaceutical and nutraceutical products, many of which contain mannitol, is driving the market growth. Besides this, the growing product application in innovative drug delivery systems, such as oral disintegrating tablets and chewable tablets, which is enhancing its demand, is fostering the market growth. Furthermore, the increasing trend towards functional foods and nutraceuticals for health benefits, many of which use mannitol as a key ingredient, is catalyzing the market growth.
Who are the key players operating in the industry?
The report covers the major market players including:
- Cargill Incorporated
- Freund Corp
- Hebei Huaxu Pharmaceutical Co. Ltd
- Ingredion Incorporated
- Merck KGaA
- Moga International Ltd
- Pfanstiehl (Ferro Corporation)
- Qingdao Bright Moon Seaweed Group Co Ltd
- Roquette Frères
- Singsino Group Ltd.
- SPI Pharma Inc. (Associated British Foods)
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