The
global alternative sweetener market is competitive in nature and is
projected to witness a stiff competition throughout the forecast
period, states a new market research study by Transparency Market
Research. The expected rise in the number of players is anticipated
to strengthen the competitive environment of the overall market in
the next few years. Some of the leading players operating in the
alternative sweetener market across the globe are Ajinomoto Co. Inc.,
Archer-Daniels-Midland Company, NutraSweet Company, Tate & Lyle
Plc, Roquette Frères S.A., Ingredion Incorporated, and Cargill
Incorporated. These players are expected to emphasize on the
development of new product, which is anticipated to offer promising
growth opportunities for the players in the next few years. In
addition to this, marketing activities and advertising campaigns are
further projected to encourage the growth of the overall market in
the next few years.
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According
to the market research study by Transparency Market Research, in
2014, the global market for alternative sweetener was worth US$11.5
bn and is likely to reach a value of US$15.4 bn by the end of 2021.
The market is anticipated to register a healthy 4.20% CAGR between
2015 and 2021.
Rising
Obesity Cases to Accelerate Growth of North America Market
From
a regional perspective, North America is anticipated to lead the
global alternative sweetener market and account for a large share
throughout the forecast period. The high growth of this region can be
attributed to the rising obesity epidemic and the increasing number
of risks that are associated with cardiovascular diseases. In
addition to this, the rapidly rising number of patients, who are
suffering from diabetes are further estimated to encourage the growth
of the alternative sweetener market across North America in the next
few years. Furthermore, Asia Pacific is projected to register a
healthy growth in the coming years, owing to the rising demand and
the increasing awareness among consumers.
The
global alternative
sweetener market has been categorized on the basis of product
into high intensity sweetener (HIS), high fructose syrup (HFS), and
low intensity sweetener (LIS). Among these, the high-intensity
sweetener segment is expected to account for a large share of the
market in the next few years. With the rising consumer preference,
this segment is predicted to enhance the growth of the overall market
throughout the forecast period.
The
increasing health consciousness among people and the increasing
popularity of healthy and low-calorie foods are some of the key
factors that are estimated to encourage the growth of the global
alternative sweetener market throughout the forecast period. The
rapid rate of urbanization and the rising prices of sugar are further
predicted to enhance the growth of the overall market in the next few
years. In addition to this, the rising focus of key players on
marketing and advertising activities are projected to encourage the
growth of the overall market in the near future. The increasing
investments and the rising focus on technological developments are
likely to generate promising growth opportunities for the market
players in the next few years. In addition to this, the rising
awareness among consumers concerning the benefits of alternative
sweeteners is estimated to encourage the growth of the global market
throughout the forecast period.
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