Sweeteners Market Analysis
The Global Sweeteners Market is predicted to grow at a 4.9% CAGR between 2017-2023, reveals the new Market Research Future (MRFR) report. Sweeteners, simply put, are food additives that are used for stimulating sweetness during consumption. It is categorized into two main types- non-nutritive sweeteners and nutritive sweeteners. The former are sweeteners that are digested in the body to some extent, thus having a food energy value. The latter are not digested by the body, thus possess a food energy value that is negligible. Sweeteners are chosen over sugar for the different benefits that it offers, such as does not cause cavities or tooth decay, does not immediately cause the blood sugar in going up compared to regular sugar, and, most importantly have no or fewer calories.
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Some of these factors include the growing incidence of diabetes and obesity, the shift in the preference of consumers towards choosing food and beverage that are based on natural ingredients, and burgeoning demand from the beverage industry, and extended government approvals for the use of such sweeteners. Besides, the demand for low-calorie and sugar-free diet, changing lifestyles, technological advancements, improved economic conditions, evolving dietary patterns, and rising consumer awareness are also adding to the growth of the market.
Key Players
Major players profiled in the Sweeteners Market report include CELANESE CORPORATION (US), AJINOMOTO (Japan), Tate & Lyle Plc (UK), DuPont Nutrition & Health (Denmark), Cargill Incorporated (US), Kerry Group PLC (Ireland), and Archer Daniels Midland Company (US). Key players have used several strategies such as partnerships, collaborations, mergers, acquisitions, research and development activities, and product launches to create a foothold in the market.
Industry News
October 2019: LODAAT Pharma, a leading manufacturer of botanical, nutraceutical, and pharmaceutical ingredients, has launched JAGEVIA, a sweetener sourced from Palmyra palm tree.
Market Segmentation
The MRFR report provides a complete segmental analysis of the Sweeteners Market based on type, and application.
Based on Type is segmented into natural sweeteners and artificial sweeteners. The natural sweeteners are again segmented into erythritol, xylitol, stevia, and others. Of these, stevia will dominate the market over the forecast period. The artificial sweeteners are again segmented into glutamate, acesulfame K, neotame, sucralose, aspartame, and others. Of these, aspartame will lead the market over the forecast period, followed by sucralose.
Based on the application is segmented into beverages, dairy and frozen desserts, bakery and confectionery, and others. Among these, the bakery and confectionery segment will have the maximum share in the market over the forecast period. This will be followed by the beverage segment.
Regional Analysis
Based on the Region, the Sweeteners Market report covers the latest trends and growth opportunities across Europe, the Asia Pacific, North America and the Rest of the World. Of these, North America will command the largest share in the market over the forecast period chiefly on account of the growing health-conscious population. The US is the chief contributor in this region.
Europe is predicted to have the second-largest share in the market over the forecast period chiefly on account of the high growth of the beverage market in the region, high consumer spending, and hectic lifestyles. Netherlands, France, Germany, and the UK are the chief contributors in this region.
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The APAC region is predicted to grow at the fastest pace over the forecast period due its growing application in various industries. Moreover, rising per-capita disposable income, population expansion, and demand for convenience foods are also boosting the market growth. China is the chief contributor in this region, followed by India.
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