According to a new market report published by Credence Research Inc., “Xylitol Market (By Application (Chewing Gums, Confectionary, Personal Care Products, Pharmaceuticals, Nutraceuticals and Others)), Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023”, the worldwide xylitol market was valued at US$ 683.46 Mn in 2015. It is projected to grow at a CAGR of 6.9% from 2016 to 2023. In terms of volume the global market stood at 159.52 kilo tons in 2015.
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Xylitol is used in food products to enhance the taste, color and shelf life. Moreover, it does not reduce the nutritional value of the content present in food products. It can either be used exclusively or with other low caloric sugar substitutes to manufacture sugar-free products. Xylitol usage in foods products is projected to witness an upturn in demand.
The global market for xylitol is driven by rising health concerns coupled with lifestyle disease such as cardiovascular diseases, obesity, and high cholesterol are also increasing consumer awareness regarding calorie intake. Furthermore, increasing applications scope of xylitol in pharmaceuticals, and nutraceuticals segments is projected to drive market growth over the forecast period. Widespread, incidents of diabetes is also contributing towards the overall market growth.
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At present, the major concern in the xylitol market is the overcapacity installed globally. Over the last few years, several Chinese players have aggressively increased capacity. This concern remains a major restrain for new entrants into the xylitol market.
The market is highly competitive. To maintain their market presence players need to adopt different strategies. DuPont Danisco is one of the most prominent manufacturers of xylitol globally, with three plants located in Finland, U.S. and China. In addition to DuPont Danisco, other leading players present in xylitol market include Roquette Freres, Shandong Futaste, Cargill, Ingredion, and few Chinese players among others.
- Increasing applications scope of xylitol in pharmaceuticals and nutraceuticals
- Players to maintain their market position needs to adopt different strategies
- Widespread, incidents of diabetes is also contributing towards the overall market growth