Sweeteners Market Emerging Trends, Comparative Analysis, Global Size, Industry Share, Key Player Analysis, and Significant Growth Scenario till 2023
“Sweeteners market is expected to grow at a CAGR of over 4.9% during the forecast period 2019-2023, Global Sweeteners market is segmented on the basis of type, application, and region”
Pune, India – June 11, 2019 /MarketersMedia/ —
Sweeteners are food additives that are used to substitute sugar content in food products; hence, they are also referred to as sugar substitutes. Low in calories, sweeteners can provide a sweet taste similar to that of sugar. As a result, sweeteners find a wide range of application in the food and beverage industry including bakery and confectionery, dairy and frozen desserts, beverages, and others. Due to its low-calorie contents, sweeteners are also used as a healthy alternative to sugar.
The global sweeteners market has been growing rapidly, mainly due to the increasing concerns associated with obesity and diabetes among the rapidly growing population. The burgeoning food and beverages industry is witnessing an augmenting demand for low-calorie food products. Moreover, consumer preference inclined towards adopting natural and plant-based food products is escalating the market, globally.
Acknowledging the exceeding growth, the market is witnessing at present, Market Research Future (MRFR) in its recently published study analysis asserts that the global sweeteners market is expected to demonstrate a voluminous growth by 2023, registering an impressive CAGR throughout the forecast period (2017-2023).
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Technological developments and new product launches by major players are some of the major factors boosting the growth of the market. Made with natural ingredients or plant-based sweeteners is the latest trend in the market. Resultantly, the segment – natural sweeteners is witnessing a boosting growth in the market.
Additionally, extended government approvals in various countries for the use of artificial sweeteners are fuelling the growth of the sweeteners market.
The 2015-2020 Dietary Guidelines issued by the US Agriculture and Health and Human Services departments suggest that the sweeteners may help in reducing the consumption of calories. The guidelines neither encourage nor discourage usage of sugar substitute. However, while, explaining the benefits at least in the short term, the question remains about their effectiveness as a long-term weight management strategy.
Such dietary guidelines are expected to affect the growth of the sweeteners market, restricting their consumption. Also, the high cost of natural sweeteners due to their high manufacturing cost may hamper the growth of the natural sweeteners segment. Nevertheless, as technology advances, it is expected to offer many cost-competitive manufacturing process and techniques which would help to bring about affordable natural sweeteners in the market. Also, the growing demand for sweeteners in the rapidly growing beverage industry is expected to support the growth of the market in the years to come.
Major Players:
Key players leading the sweeteners market include-
• Kerry Group PLC (Ireland)
• Archer Daniels Midland Company (US)
• Cargill Incorporated (US)
• Tate & Lyle plc (UK)
• DuPont Nutrition & Health (Denmark)
• Ajinomoto (Japan)
• Celanese Corporation (US)
Global Sweeteners Market – Competitive Landscape
Highly competitive, the sweetener market appears to be fragmented. Manufacturers strive to deliver high-quality and reliable products based on innovative technologies. Further, they also aim to provide the product in a tailor-made packaging such as customized/bulk packaging and special requirements. Product launch, M&A activities, and collaboration remain key strategies of the market players to churn the competition in the market.
Sweeteners Market – Segmentation
For a better understanding, the analysis is segmented into three key dynamics;
By Type : Natural (stevia, xylitol, erythritol) and Artificial (aspartame, sucralose, neotame, and others).
By Application : Bakery & Confectionery, Dairy & Frozen Desserts, and Beverages among others.
By Regions : Asia Pacific, North America, Europe, and Rest-of-the-World (RoW).
Global Sweeteners Market – Regional Analysis
North America heading with its largest bakery and confectioneries market would retain its dominance over the global sweeteners market throughout the forecast period. Moreover, factors such as the high disposable income of consumers alongside the presence of major players and the new product launches by them are stimulating the sales of sweeteners in the North American countries. The US and Canada account for the key contributor to the market growth due to the presence of the prominent consumers of sweeteners.
The Sweeteners Market in the European region accounts for the second-largest market, globally. Factors such as the massive demand for processed foods and growing inclination towards usages of food additives are impacting the growth of the regional market, positively.
The Asia Pacific sweeteners market is estimated to emerge as a promising market, globally. The large production units in countries like China and India contribute to the growth of the regional market. Also, the market is observing substantial growth over the past few years due to the increasing sales of sweeteners in the region.
The rapidly increasing population in the developing countries such as China, India coupled with the changing lifestyle of the consumers is anticipated to stimulate the growth of the overall sweeteners market in the APAC region during the forecast period.
Industry/ Innovation /Related News:
May 16, 2019 —- PureCircle (Malaysia), a leading global producer and innovator of stevia sweeteners announced the renewal of its supply agreement of next-gen stevia sweeteners such as Reb M with Merisant Company (the US), a leading manufacturer of artificial sweeteners, including Equal and Canderel.
The new and expanded partnership will help Merisant’s to ensure the long-term supply of the best-tasting stevia ingredients and benefit PureCircle with an assuring growing stream of sales of its stevia ingredients.
Purecircle has been expanding its capacity, aggressively, to supply more scarce, steviol glycosides such as Reb M and Reb D from the stevia leaf. The company had also unveiled its plans recently to significantly increase the acreage used to grow its proprietary Starleaf stevia in the US.
PureCircle produces Reb M directly from Starleaf stevia plants using its special techniques to produce it via an enzymatic conversation process from other stevia sweeteners extracted from the plants.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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Source: MarketersMedia
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