LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global sorbitol market and the market is poised to experience spend growth of more than USD 300 million between 2019-2023 at a CAGR of over 3% during the forecast period. Request Free Sample Pages.
Read the 126-page research report with TOC and LOE on "The Global Sorbitol Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
The growing awareness of the adverse health impacts posed by excessive consumption of sugar is resulting in consumers drifting towards low-sugar consumables. This is resulting in exponential demand growth in the global sorbitol market. By virtue of being a cheaper alternative to xylitol, the sorbitol market is experiencing a steady demand growth.
According to the forecasts, APAC will dominate the global sorbitol market in terms of the region’s spend share. This spend growth is primarily attributed to the increase in the FDI flow and rapid growth observed in the pharmaceutical industry. Meanwhile, in North America, the increase in the demand for low-sugar dietary supplements will continue to drive spend growth in the sorbitol market.
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The Top Sorbitol Suppliers Enlisted in this Report:
The price of corn syrup that is used as an essential raw material to produce sorbitol is predicted to undergo inflation. This will propel the suppliers’ manufacturing costs which will result in price inflation in the sorbitol market. Considering this probability, this report has listed the top sorbitol suppliers, SLA agreement insights, and the selection and negotiation strategies that buyers must undertake to achieve optimal and cost-effective procurement in this market.
Cargill- While exploring the feasibility of entering into a contract with this supplier, buyers are advised to conduct a cost analysis to get an overview of all the costs involved in the production of sorbitol. This will help them to develop effective strategies for price negotiation with this supplier and avail significant cost savings.
Merck- Buyers must collaborate with this supplier on a risk-reward sharing basis. For instance, during frequent fluctuations in the prices of raw materials, buyers may have to pay high prices. Therefore, collaborating with suppliers for sharing the risk of the price increase can help buyers save significant costs on the purchase of sorbitol.
Ingredion- Buyers are advised to adopt the volume-based pricing model while entering into a contract with this supplier. In this pricing model, suppliers provide discounts when the procurement quantity is high. When the nature of engagement is strategic, suppliers absorb a minimal increase in pricing up to 5%.
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Some of the key topics covered in this report are:
- Sorbitol market spend segmentation by region
- Sorbitol supply market analysis
- Regional spend opportunity for sorbitol suppliers
- Sorbitol suppliers cost structure
- Total cost of ownership analysis in the sorbitol market
- Sorbitol pricing models analysis
- Category management objectives
- Cost saving opportunities in the sorbitol market
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