Alternative Sweetener Market Size and Growth Rate:
The Alternative Sweetener Market size is expected to reach USD 18.65 billion in 2024, with a CAGR of 5.23% from 2018 to 2024, according to our new research report.
The alternative sweetener replaces the sugar used to sweeten and enhance the taste of beverages and foods. It is a chemical or plant substance used in processed food products as a table-top sweetener. A small number of alternative sweeteners offer the same level of sweetness as table sugar. Alternative sweeteners are declared by the US Food and Drug Administration (FDA) as a food additive. The alternative sweetener plays an important role in controlling the number of calories consumed by natural sugar.
Growth Drivers, Restraints/ Challenges and Opportunities:
The growth of the global market for alternative sweeteners is mainly due to the growing consumption of processed products in developed countries and a growing number of international beverage manufacturers. In addition, an increasing number of diet-conscious people and a high number of diabetic patients are expected to increase growth in the global market of sugar substitutes during the planned period. The increase in the urban population and the rapid expansion of end-use industries in emerging countries such as China and India are the main factors that should drive the growth of the market during the period.
However, the ambiguity associated with the side effects of alternative sweeteners and the inability of manufacturers to meet consumer expectations hampers market growth. It is also expected that the decline in soft drink consumption in some countries will slow the growth of the global alternative sweetener market.
High-Intensity Sweeteners (HIS) Segment to Lead the Market
On the basis of product type, the market is divided into Low-Intensity Sweetener (LIS), High Fructose Syrup (HFS) and High-Intensity Sweetener (HIS). The High-Intensity Sweeteners (HIS) segment is the fastest growing segment with the highest market share in terms of revenue. The high fructose syrup segment is expected to show a significant demand during the expected period because of increased investment in research and development activities. In the field of manufacturing and processing, high fructose syrup from various materials such as maize, rice, starch and wheat, is used.
Food and Beverages is the most used application
On the basis of the application, the market is segmented into pharmaceutical products, food and beverages, etc. The food and beverage sector is the most used segment, with the highest use of alternative sweeteners in confectionery, bakery products, dairy products and related products. In addition, the upward trend of low-sugar beverages and diet drinks among diet-conscious consumers is expected to increase the demand for alternative sweeteners in the food and beverage industry over the forecast period
North America Possess a Significant Market Share in 2017
The alternative sweetener market in North America represented a prominent market share in 2017. The high consumption of processed foods and the rapid development of the beverage and non-alcoholic drinks sector are driving the growth of the alternative sweeteners market in the Americas. Asia-Pacific is the second largest market and is expected to experience significant growth in CAGR over the forecast period. The growth is mainly due to the changing preference of consumers and the increase in the number of processed products. The market for alternative sweeteners in Europe is expected to grow at a moderate CAGR during the forecast period due to some government regulations on the use of added sugar in processed foods. The increase in the urban population and the growing number of alternative sweetener companies will stimulate the growth of the alternative sweeteners market in Latin America during the period under consideration.
- September 2018: In order to meet growing consumer demand for healthier products, Raw Sweeteners, the leading provider of the best alternative sugars, introduced organic stevia into the raw material, a 100% USDA certified project biological, without GMO certification, and certified vegan product and naturally gluten free.
- June 2017: In the Raw breaks into a new market with the launch of low-calorie beverages. Perfectly sweetened with sugar in certified fair trade raw meat and stevia with no calories, the drinks contain half the sugar of the leading brands of calories and only 70 calories per 12 oz bottle.
Prominent Companies Leading the Market Profiled in the Report are:
- Archer-Daniels-Midland Company
- Kerry Group Plc
- Roquette Frères S.A.
- NutraSweet Company
- Ajinomoto Co. Inc.
- Tate & Lyle Plc
- Showa Sangyo
- Global Sweeteners Holdings Limited
- Ingredion Incorporated
- Japan Corn Starch Co., Ltd.
- Cargill Incorporated
- COFCO Rongshi Bio-technology Co. Ltd.
This research report includes following segmentation for the Alternative Sweetener Market size and forecast until 2024:
Alternative Sweetener Market - By Type
- High-Fructose Syrup (HFS)
- High-Intensity Sweetener (HIS)
- Low-Intensity Sweetener (LIS)
Alternative Sweetener Market - By Application
- Food & Beverages
Alternative Sweetener Market - By Region
- North America
- Asia Pacific
- Latin America
- Middle East
Key Takeaways from Alternative Sweetener Market Report:
- For different Devices types, and applications offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the Alternative Sweetener Market potential.
- Identify various driving factors, constraints and untold opportunities that can impact the Alternative Sweeteners Marketplace
- Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
- Increase overall revenue by understanding the geographical impact on sales and distribution channels.
- Evaluate the increase in values at each step of the industry supply chain to improve process efficacy and optimize the value.
- Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
- Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide Alternative Sweetener Market in over 20 top nations.
**The report can be customized as per your requirements, please write your requirements to email@example.com and we will try to revert at the possible earliest.