Press release
Alternative Sweetener Market Witness Healthy Growth Opportunities in Food Industries
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In the report, the alternative sweetener market is segmented into by product types, by application types and by geography. Based on product type the alternative sweetener market is segmented into high fructose syrup (HFS), high intensity sweetener (HIS) and low intensity sweetener (LIS). High intensity sweetener is further segmented into, saccharine, aspartame and sucralose among others. Others HIS segment includes ace-k, stevia, neotame, alitame, thaumatine, cyclamate, agave nector, polyols and sucroseamong others. By application, the market is segmented into food and beverages among others including pharmaceuticals and personal care products.
The growth in the alternative sweetener market is primarily attributed to growing demand for healthy, low calorie, sugar free food and beverages. In addition, increasing obesity rate and other health problems such as diabetes, overweight, cardiovascular diseases are boosting the demand for alternative sweeteners globally. Rise in demand for low-calorie healthier food products is one of the driving forces for increased consumption of alternative sweeteners. Alternative sweeteners are used in candy and confections, chewing gum, sugar free jam, biscuits, chocolate, table top sweetener, dairy products, juices and carbonated diet soft drinks among others.
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The beverage application sector generated higher revenue than others application sector and it is one of the main factors driving the market for alternative sweetener. The alternative sweetener market has seen diversified trends across different regions including North America, Europe, Asia Pacific and Rest of the World (RoW). Geographically, North America held the largest market share in 2014 and is expected to grow significantly due to growing demand from leading markets such as the U.S. and Mexico. Additionally, Asia Pacific is projected to be the major consumers of alternative sweeteners during the forecast period followed by North America. At the same time, harmful effects of over consumption of sugar substitutes and the safety rules and regulations of different countries are some of the factors restraining the growth of the alternative sweeteners market.
Though Asia Pacific held the second largest market share in global alternative sweeteners market, still it is expected to grow at a high CAGR due to high demand for alternative sweetener in leading countries such as China, India as compared to Europe over the forecast period. However, the market for alternative sweetener in Europe is expected to witness decent growth during the forecast period.
Alternative sweetener market is dominated by key players such as Tate & Lyle Plc, Cargill, Incorporated, Ajinomoto Co., Inc., Archer-Daniels-Midland Company, Ingredion Incorporated, Roquette Frères S.A., NutraSweet Company, BENEO-Palatinit GmbH, Hermes Sweeteners Ltd. and E. I. du Pont de Nemours among others.
Global alternative sweetener market is valued at USD 12,101.9 million in 2015 and is expected to reach USD 15,466.7 million by 2021, growing at a CAGR of 4.2% from 2015 to 2021. The major reason for the success of the alternative sweetener market is the growing health consciousness among the consumers that helps to boost the demand for foods and beverages which enriched with alternative sweetener. The potency and efficacy of sugar substitutes for maintaining body weight and for controlling blood sugar level helps to increase the demand for sweeteners. Further, the increasing awareness of health benefits of sugar free, healthy low calorie foods and beverages consumption among the consumers in different markets such as the U.S., Mexico, Germany, China, India and Brazil is fueling the demand or alternative sweetener based foods and beverages.
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