The
alternative sweeteners market is driven by the rise in demand for
low-calorie, healthy, sugar-free foods and beverages worldwide.
Additionally, the proliferation of diabetes and obesity and other
related ailments such as cardiac disorders and hypertension is
boosting the demand for alternative sweeteners worldwide. The global
alternative sweeteners market is anticipated to develop at a CAGR of
4.2% from 2015 to 2021 and reach a value of US$15,466.7 million by
2021. Alternative sweeteners can be used in a diverse range of
beverages and foods such as diet carbonated drinks, candy and
confectionary, table top sweeteners, and dairy products. Alternative
sweeteners are also used in personal care and pharmaceutical products
such as mouth wash, chewable tablets, and others.
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Increasing
Health Consciousness Drives Global Alternative Sweeteners Market
Rising
prices of sugar and increased health consciousness of consumers have
driven the global alternative sweetener market in recent years.
However, food safety regulations and excessive consumption of sugar
substitutes, which come with their own set of health problems, are
limiting factors for the alternative sweeteners market. However,
recent research has discovered that low-calorie sweeteners do not
increase cancer risk. The use of natural alternative sweeteners can
help reduce carbohydrate intake, manage calories, and improve overall
health. Artificial sweeteners are favored over table sugar by
health-conscious consumers due to their low calorie content. These
factors can drive the market for low-calorie products and thus
alternative sweeteners.
The
alternative sweeteners market’s segmentation is based on
application, product type, and geography. Product segments of the
alternative sweeteners market are high-intensity sweeteners,
low-intensity sweeteners, and high fructose syrup. Among these,
high-intensity sweeteners held the largest share in the global market
for alternative sweeteners in 2014 and are anticipated to grow at a
steady CAGR of 3.4% from 2015 to 2021.
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In
the product type segments, high fructose syrup (HFS) occupied the
second highest market share in 2014. The low-intensity sweetener
segment is predicted to be the fastest growing product segment and is
expected to develop at a CAGR of 7.1% from 2015 to 2021. The
application segments of the alternative sweetener market include
food, beverages, and others. In the application-based segmentation of
the alternative sweeteners market, the beverage sector generated the
highest revenue in 2014.
Mexico
and the U.S. to Lead Market, India and China Major Consumers
Among
the geographical segments for alternative sweeteners, the North
America market is expected to lead the global market, growing at a
CAGR of 3.6% over the next few years. In North America, the market
for alternative sweeteners was dominated by Mexico and the U.S.
Asia
Pacific is also anticipated to grow steadily in the alternative
sweeteners market, followed by Europe. In the Asia Pacific region,
India and China are the major markets for alternative sweeteners and
are expected to record CAGR of 6.0% and 3.4%, respectively, from 2015
to 2021. In the Europe segment, Germany had the highest revenues in
2014 and is expected to grow at a high CAGR over the next few years.
Key players that dominate the alternative sweeteners market are
Ajinomoto Co., Inc., Ingredion Incorporated, Roquette Frères S.A.,
Archer-Daniels-Midland Company, NutraSweet Company, Cargill, and Tate
& Lyle Plc.
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