In 2019, the global lactitol market is expected to record a growth rate of 19.2 per cent. The key reason for the popularity of lactitol in the global market is due to its low glycemic index which guarantees its acceptance by diabetes patients. Given that diabetes is a common disease in today’s times and is a rapidly rising demographic across the globe, lactitol’s prevalence is comprehensible. Apart from this, there is a positive boost in the global lactitol market which include the rising awareness regarding a healthy lifestyle among people of belonging to all age groups and the rising demand for low sugar content products. Approval by several health and food regulation bodies worldwide have also resulted in the improvement of new horizons for the global lactitol market in the recent times.
Some of the main areas of application of lactitol comprise the ones in the food and beverages industry presently which help the global market gain a sizeable share in its overall revenues. In the global market, lactitol finds vast usage across products such as cookies, biscuits, chocolates, candies, chewing gum, and ice-cream. The high consumption of these products across the globe will continue to ensure sustainable demand for global lactitol market in the next ensuing years.
On the basis of product, the market is typically bifurcated into tapes, labels, and graphic films among others. Tapes segment is likely to hold a significant market share during the forecast period from 2019 to 2026. Tapes are extensively utilized for carton sealing in packaging sector. On the basis of application, the global lactitol market is spearheaded by the food industry. Increasing consumption of lactitol in ice-creams, baked goods, pre-prepared pasta, chewing gums, medical tablets, sugar-free foods, and candies are augmenting the market growth. The high consumption of these products globally will continue to drive sustainable demand for lactitol during the forecast period (2019-2026).
Within regional analysis, Asia Pacific is estimated to witness considerable growth in the lactitol market during the forecast period. The Asia Pacific region has emerged as the leading producer of lactitol because of the expanding food & beverage sector and increasing foreign investments in this region. North America is expected to hold the highest market share during the forecast period. The presence of leading food and beverage companies such as Nestle, PepsiCo, Tyson Food, and Coco-Cola and so forth is boosting the market growth in this region. The presence of developed nations such as the U.S. and Canada along with growing prevalence of diabetics across the region is also driving the market growth.
A recent report on the global lactitol market was published by Global Market Estimates Research and Consultants (GME) in March 2020. The market can be segmented on several grounds. On the basis of application, the global market is segmented into food and confectionery, pharmaceuticals, cosmetics, and oral-care products among others. On the basis of product, the market is segmented into tapes, labels, and graphic films among others. On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East and Africa. The countries covered include: U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, China, India, Japan, South Korea, Australia, Brazil, Saudi Arabia, UAE, and South Africa among others.
The key end-users of the markets are Nestle and BASF among others. Some of the key players operating in the lactitol market are Sanxinyuan Food Industry Corporation Limited, Beckmann-Kenko GmbH, Roquette Freres, Cargill, Inc., A & Z Food Additives Co., Ltd., Ingredion Inc., Fraken Biochem Co., Ltd., and Atlantic Chemicals Trading GmbH among others.
Press Release published by Global Market Estimates Research & Consultants: Global Lactitol Market Research Report - Forecasts to 2026