Changing Consumer Taste to Drive Sales in Monk Fruit Sugar Market

Transparency Market Research offers an eight-year forecast for the global monk fruit sugar market between 2018 and 2026. In a recently released report by the company, the global monk fruit sugar market is expected to register a CAGR of 4.5% during the forecast period. The primary objective of the report is to offer insights on the developments and prospect in the monk fruit sugar market. The study demonstrates market dynamics that are predictable to influence the current challenges and future status of the global monk fruit sugar market over the forecast period. This report also offers updates on trends, drivers, restraints, value forecasts, and opportunities for manufacturers operating in the global and regional monk fruit sugar market.

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Global Producers to Increase the Scale and Speed of their R&D Efforts

In recent years, research on different monk fruit sugar processing has shown its potential use in a wide range of applications. Keeping that in mind, a variety of natural sweeteners are now available in their purest forms. Hence, it is anticipated that different applications of monk fruit sugar could also be identified with an increase in research and development expenditure. Large companies are constantly identifying avenues in order to enhance their portfolio of monk fruit sugar with innovative new products to explore new market possibilities. It is expected that the focus on R&D will increase over the forecast period, as companies are expected to offer monk fruit sugar that are unique and better than their rivals. Manufacturers are also likely to be focusing on positioning their brands of monk fruit sugar better to improve their sales.

Shift in Consumer Preference and Increasing Per Capita Expenditure on On-the-Go Food

With increasing development and an increase in consumer purchasing power, consumers are spending more on processed, and on-the-go food & beverages products, which saves time that is normally required to prepare conventional meals. Growing consumer expenditure on on-the-go meals is also driving the growth of the global monk fruit sugar market, and this trend is expected to continue over the forecast period.

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Over the years, consumer attitudes have changed towards sugar intake. Consumers are preferring low calorie or zero calorie food products which are processed with sugar substitutes. In the food and beverage industry, cutting down sugar content, swapping out the white stuff for alternative low-calorie sweeteners and monk fruit sugar has become a top priority for food formulators leading to increased demand for monk fruit sugar.

Direct Sales Likely to Remain Preferred Means for Monk fruit sugar

Monk fruit sugar have gained popularity in recent years as people have become increasingly aware of its associated benefits. Presently, most of the monk fruit sugar available in the market are used in the food processing industry due to which direct or business to business sales are higher as compared to indirect sales. Many naturally derived sweetener producers have tied up with food & beverage giants as exclusive suppliers. However, with growing product acceptance and launches of monk fruit sugar in innovative packaging formats for retail use, the indirect sales for household and retail consumption is expected to rise in the coming years.

Market participants in the global monk fruit sugar market include, Archer Daniels Midland Company, Monk Fruit Corp, Apura Ingredients, Guilin Layn Natural Ingredients Corp, Imperial Sugar Company, Whole Earth Sweetener Co., LLC, Health Garden USA, Matakana Superfoods Limited, Group Krisda Stevia Canada Inc, and Bulk Barn Food Limited

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This release was published on openPR.