Global mannitol market currently represents a nearly US$300 Mn industry that expects decent growth in long term as mannitol gains traction worldwide as a low-calorie sweetening agent.
An Expanding Application Base Upholds Global Mannitol Market
Use of mannitol across various industries including pharmaceutical, food and beverage, medical and analytical chemistry remains instrumental in driving global mannitol market growth. Moreover, mannitol is approved by the US FDA and can be used to reduce the intracranial pressure and intraocular pressure, thus treating glaucoma. Being a diuretic, mannitol facilitates diuresis to treat the oliguric phase before occurrence of irreversible damage during acute renal failure. These advantages and applications of the product are likely to pave potential avenues of growth for the mannitol market.
Rising Demand from Food and Beverages Industry to Create a Robust Growth Platform for Mannitol Market
In the bakery and confectioneries sector, artificial sweeteners have replaced sugar and are used as emulsifiers. Mannitol is a commonly used sweetener as it is low in calories compared to conventional sugar. Owing to its dynamic functional properties, mannitol is used in food products such as precooked pasta, butter, infant formula, and frozen fish. Moreover, mannitol is also used in chewing gums as a sweetener which can be consumed by people with diabetes type 1 and 2. In this backdrop, low production costs of mannitol and its widespread applications are expected to bode well for the mannitol market. Furthermore, mannitol is used as a key food additive. Owing to its superior moisturising function and non-hygroscopic property, mannitol is a widely used in food products. Mannitol can control moisture, thus enhancing the shelf life of the perishable product. Moreover, its use in chewing gums eliminates the possibility of the gum sticking to the wrapper surface, thus preventing the possibility of any external harm to the quality of the product.
In addition, mannitol can act as a coating agent, which is expected to fuel its use in select food products. Also, there is no discoloration at higher temperatures on the back of its high melting point. This has further accelerated its use in the production of ice creams, sweets, and other frozen desserts, which is expected to complement growth of the mannitol market. Additionally, demand for mannitol in the beverage sector is expected to increase on the global front. Consumption of beverages such as coffee, juices, flavoured drinks, and other canned beverages is on the rise, which is expected to provide a potential boost to the use of mannitol. Regular sugar is high in calories that can potentially lead to various lifestyle disorders and diseases such as obesity and diabetes, further resulting in chronic complications. This fuelled the need for low-calorie products, in turn triggering the use of mannitol in place of sugar in the beverage sector. In this background, shift of beverage manufacturers towards sugar alcohols is expected to augur well for the mannitol market.
Diabetes Zones Create Ample Opportunities Across Asia Pacific Mannitol Market
Consumption of mannitol across developing nations in Asia Pacific is expected to increase at a momentous rate in the coming years. Emerging economies such as India, and China are likely to account for a significant share in the market. This can be attributed towards increasing use of mannitol backed by rising health awareness among individuals. Amidst a developing society, consumers in Asia Pacific region are becoming health conscious and are inclined towards changing food habits. In addition, stable improving economic scenario coupled with change in lifestyles has resulted in an increased demand for packaged and convenience food products. This factor along with shift towards zero and low-calorie foods owing to the evolving dietary patterns has translated into a high demand for artificial sweeteners. This has fuelled the use of mannitol that acts as a low-calorie sweetener among consumers.
Moreover, having a relatively lower glycaemic index, it is consumed by individuals who are suffering from diabetes. That said, growing number of diabetic patients in Asia Pacific is expected to provide ample opportunities of growth for the mannitol market. For instance, according to the International Diabetes Federation (IDF), emerging economies of China, and India continue to remain at the forefront apropos to individuals suffering from diabetes and the trend is expected to continue till 2030. From a global perspective, India is expected to remain on the second spot with a large pool of diabetic patients with China leading the scenario. In this backdrop, growing diabetes cases is expected to augment growth of the market in Asia Pacific. Companies manufacturing and distributing mannitol can expect an optimistic scenario in the region going forward.
Mannitol Market: Competitive Landscape
Players in the mannitol market are focusing on consolidating their position by carrying out acquisitions, collaborations, and partnerships. For instance, in August 2022, Pharmaxis’s Orbital DPI (Dry Powder Inhaler) license was acquired by Aptar Pharma. With this acquisition, Aptar would benefit from the mannitol respiratory business and will strengthen its leadership in the respiratory domain by providing a wide range of services and devices to patients.
A few of the major players in 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 segmented as below:
Key Elements Included In The Study: Global Mannitol Market
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