The global mannitol market, currently valued at nearly US$300 million, is on a trajectory of significant growth as mannitol gains widespread recognition as a low-calorie sweetening agent. The versatile applications of mannitol across various industries, including pharmaceuticals, food and beverages, medical, and analytical chemistry, are key drivers behind this upward trend. Additionally, the approval of mannitol by the US FDA for medical applications further solidifies its position in the market.
Diverse Applications Fuel Mannitol Market Growth
Mannitols wide range of applications is playing a pivotal role in propelling the mannitol market forward. This versatile substance is employed in the pharmaceutical industry to reduce intracranial and intraocular pressure, aiding in the treatment of conditions such as glaucoma. It also acts as a diuretic, facilitating diuresis during acute renal failure, preventing irreversible damage.
Rising Demand in Food and Beverages Sector
The food and beverage industry is witnessing a surge in demand for mannitol, especially in bakery and confectioneries. Mannitol serves as a low-calorie sweetener, replacing sugar in various products. It is utilized in food items like precooked pasta, butter, infant formula, and frozen fish, and even in chewing gums, making it accessible to people with diabetes. The cost-effectiveness of mannitol production and its extensive applications in the food industry are contributing to its market growth.
Furthermore, mannitols unique properties make it an ideal food additive. It effectively controls moisture, enhancing the shelf life of perishable products, and prevents chewing gum from sticking to wrappers, preserving product quality. Mannitol also serves as a coating agent, making it an excellent choice for ice creams, sweets, and frozen desserts, thus expanding its reach in the food industry.
In the beverage sector, mannitol is gaining prominence as an alternative to high-calorie sugar, aligning with the growing demand for low-calorie products. Regular sugars association with lifestyle disorders has prompted beverage manufacturers to turn to sugar alcohols like mannitol, further boosting its market presence.
Asia Pacific Emerging as a Key Market
Asia Pacific, particularly India and China, is set to become a significant consumer of mannitol in the coming years. Increasing health awareness, changing dietary habits, and economic growth have led to higher demand for packaged and convenience foods, creating opportunities for artificial sweeteners like mannitol. Its low glycemic index makes it a suitable choice for individuals with diabetes, a condition on the rise in the region. According to the International Diabetes Federation, China and India lead in the number of diabetes cases globally, presenting a promising growth outlook for the mannitol market.
Competitive Landscape
Key players in the mannitol market are strategically positioning themselves through acquisitions, collaborations, and partnerships. For instance, Aptar Pharma recently acquired Pharmaxiss Orbital DPI license, strengthening its position in the respiratory domain and expanding its offerings to patients in the mannitol respiratory business.
Prominent players in the mannitol market include SPI Pharma, Pfizer, Cargill Inc., Rongde Seaweed Co. Ltd., Zuchem Inc., Roquette Freres Company, Akhil Healthcare Pvt Ltd., Ingredion Incorporated, Singsino Group Ltd., Qingdao Bright Moon Seaweed Group Co., Hebei Huaxu Pharmaceutical Co. Ltd., SPI Polyols Inc., Spectrum Chemical Manufacturing Corporation, EMD Millipore, Moga International Ltd., and Yuanrun Chemical.
The global mannitol market is poised for substantial growth, driven by its diverse applications and increasing demand in the food and beverage sectors. With a focus on innovation and strategic partnerships, industry leaders are gearing up to meet the rising market demands.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/mannitol-market
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COMTEX_442320062/2840/2023-10-23T08:21:17
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