Alternative Sweetener Market- By Industry Analysis, Size, Share, Growth, Trends and Forecast 2024- Acumen Research and Consulting

Introduction:

Alternative sweetener is an important food additive that provides sweet taste to food similar to that of a sugar while containing very low number of calories. Both natural and synthetic types of alternative sweetener are available for sale in the market. The market of alternative sweetener across the globe is anticipated to experience a steady growth during the forecast period. Rising demand for low calorie content food products by the health conscious consumers across the globe is the primary factor analyzed to boost the demand for alternative sweetener in the coming years. Due to rising health consciousness among the consumers, various manufacturers aim to introduce different types of sugar substitutes into the market. In addition, fluctuating prices of sugar is expected to boost the demand for alternative sweetener across various application segments in the coming years. Moreover, the health concern relating to the problem of cancer on using low calories sweetener is also curtailed by a recent study. Alternative sweeteners are used to reduce carbohydrates and to manage the calorie count of an individual. Thus, improving the overall health of the consumer. On the other hand, rising rate of obesity, increasing number of diabetic population and other high calorie related health problems are also predicted to fuel the demand for alternative sweetener in the coming years.

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Market Classification:

The Alternative Sweetener Market has been segmented on the basis of product type, application and geography. On the basis of product type the alternative sweetener market is classified into high intensity sweetener (HIS), low intensity sweetener (LIS) and high fructose syrup (HFS). The high intensity sweetener is further categorized into, aspartame, sucralose and saccharine among others. Ace-k, neotame, stevia, thaumatine, alitame, agave nector, cyclamate and polyols is included in the others segment. Alternative sweetener also finds its applications across food industry and beverages. The others segment under applications include pharmaceuticals industry and personal care products. For understanding the market trend of alternative sweetener across various regions, the regional segments analyzed include North America, Asia-Pacific, Europe, Middle-East and Africa (MEA) and Latin America. Across various applications, the beverage sector held the largest market share in the alternative sweetener market. Rapid growth in the beverage industry across various regions is one of the primary factors fueling the demand for alternative sweeteners in the coming years. Low intensity polyols and sweetener are generally replacing the high intensity sweeteners and very high fructose syrup in the different beverage applications.

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Regional Overview:

Geographically, North America majorly drives the alternative sweetener market and is expected to hold its dominance in the near future due to the rising demand of alternative sweetener from leading markets such as Mexico and U.S. However, Asia-Pacific is predicted to experience a promising growth during the forecast period owing to the increasing number of health conscious consumers. Moreover, the strong presence of food and beverage industry in this region coupled with rising demand for low calories food products is also responsible behind this region’s growth. On the other hand, due to high market penetration of alternative sweetener in Europe, the market is anticipated to experience a sluggish growth rate during the forecast period.

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Market Participants:

However, the harmful effects arise from over consumption of low calorie sugar substitutes. Also, safety regulations imposed by the governments of different countries on food products is majorly anticipated to restrict the growth of alternative sweetener market in the coming years. Some of the major players operating in the alternative sweetener market are Tate & Lyle Plc, Ajinomoto Co. Inc., Cargill Incorporated, Archer-Daniels-Midland Company, E. I. du Pont de Nemours and NutraSweet Company among others.

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Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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