Alternative Sweeteners Market to Reach $5.43 Billion: Asia-Pacific to Offer Lucrative Opportunities
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Rise in health concerns among overweight people and increase in demand for low-calorie sweeteners drive the growth of the global alternative sweeteners market. However, ambiguity associated with the side effects of alternate sweeteners and inability of manufacturers to meet the expectation of consumers hamper the market growth. On the contrary, increasing awareness of sugar substitutes is expected to create remunerative opportunities for the market players in the coming years.
Low-intensity sweetener to grow the fastest:
The low-intensity sweetener segment is expected to manifest the fastest CAGR of 5.0% during the forecast period, owing to their increased usage in food & beverage products and low levels of calories and carbohydrates. However, high-intensity sweetener segment held the largest contributor in 2017, contributing more than one-third share of the global market revenue, owing to the unique characteristic of being multiple times sweeter than sugar. The high fructose syrup segment is expected to grow at a steady rate during the forecast period.
Major application areas of the market:
Based on application, the global alternative sweeteners market is segmented into food, beverage, and others. In 2017, the food segment held the largest market share, contributing about half of the total revenue. This segment is expected to register the fastest CAGR of 3.6% through 2025. The beverage segment is expected to manifest a gradual growth rate during the forecast period.
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Asia-Pacific to offer lucrative opportunities:
In 2017, Asia-Pacific region contributed the largest share, accounting for about 48% of the total market, owing to the presence of large number of suppliers and manufacturers, high economic growth rate, and change in food preferences. Thus, the region is estimated to register the fastest CAGR of 4.2% from 2018 to 2025. The other regions analyzed in the report include North America, Europe, and Latin America, Middle East and Africa (LAMEA).
Torchbearers of the market
The key market players analyzed in the report are Ajinomoto Co., Inc., Cargill Incorporated, GLG Life Tech Corporation, Naturex S.A., PureCircle Limited, Archer-Daniels-Midland-Company, DuPont Nutrition & Health, Ingredion Incorporated, Tate & Lyle Plc., and Associated British Foods Plc.
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