The
global low intensity sweeteners market exhibits a highly consolidated
landscape, wherein only four companies hold the lion’s share. These
companies are Cargill, Inc., E.I. Du Pont de Nemours and Company,
Ingredion, and Roquette Freres Company and they cumulatively held a
little short of 90% of the global
low intensity sweeteners market
in 2016. As the major players compete against each other to gain
edge, they are eyeing towards consolidation by acquiring smaller
companies in regional market, finds Transparency Market Research
(TMR) in a new study.
With
strategic acquisitions these companies are targeting penetration into
South East Asia and Indonesia, thus strengthening their global
presence. Besides this, expansion of existing product portfolio, and
investing in research and development activities for the same are
also undertaken in view of gaining competitive advantage. Overall the
expansion strategies adopted by the leading market players are hailed
by veterans in favor of the market. As companies successfully explore
more lucrative pockets worldwide, it will translate into increased
sales of low intensity sweeteners thus giving impetus to the global
market.
According
to TMR, the global low intensity sweeteners market is expected to
reach US$2.06 bn by the end of 2025. Its valuation in 2016 was at
US$1.25 bn. If these figures hold true, the global low intensity
sweeteners market will exhibit a CAGR of 5.8% between 2017 and 2025.
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Asia
Pacific to Continue Exhibiting Lucrative Prospects
Among
the key regional segments, Asia Pacific held dominance in 2016
accounting for a market share of 33.2%. Through the course of the
forecast period, the region’s dominance is expected to remain
undisputed. In addition, North America and Europe will continue
showcasing lucrative opportunities in the forthcoming years. By
application, the beverage segment will rake high revenues for the
market, thus emerging at the fore as the leading segment. In 2016,
the beverages segment constituted 31.9% of the market.
Radically
Changing Eating Patterns to Tip Scales in Favor of Low Intensity
Sweeteners Market
Besides
the rising incidence of diabetes and obesity, which is an obvious
factor fuelling the demand for low intensity sweeteners, the
increasing health consciousness in general is helping the market gain
momentum. The eating habits of the present generation has radically
changed as people are more inclined towards low calorie food, which
has bolstered the demand for low intensity sweeteners. “Even as
confectionaries and cafes bourgeon across nations, the low intensity
sweeteners market will gain pace with customers preferring healthier
variants of popular food and beverages,” said a lead TMR analyst.
While
diabetes and obesity have gripped a considerably large section of
population in developed nations such as the U.S., it gradually
expanding its fangs in developing nations, impelling them to opt for
healthier food. This has helped the low intensity sweeteners market
gain leverage in the emerging nations.
Stringent
Regulations Delaying Approvals to Create Potholes in Market’s
Trajectory
On
the downside, stringent regulations on several ingredients often
create hurdles for the market. Regulatory bodies such as the Food and
Drug Association have their regulations regarding the use of certain
ingredients such as low intensity sweeteners. Before fetching
approval, low intensity sweeteners have to pass several tests. This
could delay their approval and also result in their increased cost.
Such factors have a negative impact on the market.
Nevertheless,
growth potential of low intensity sweeteners is very high developing
nations. The rising research and development in the field of healthy
food products and the increasing investment towards health and
wellness are expected to boost the low intensity sweeteners market in
Asia Pacific and the Middle East. This is mainly on account of the
rising incidence of diabetes and obesity witnessed in these regions
in the last few years.
Information
on which this review is based on, is from a TMR report, titled “Low
Intensity Sweeteners Market (Product Type – Tagatose, Xylitol,
Trehalose, Allulose, and Isomaltulose; Application Beverages,
Confectionery, Pharmaceutical, and Dairy Products) - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025.”
The
report segments the global low intensity sweeteners market as:
Global
Low Intensity Sweeteners Market, by Product Type
- Tagatose
- Xylitol
- Trehalose
- Isomaltulose
- Allulose
- Others
Global
Low Intensity Sweeteners Market, by Application
- Beverage
- Confectionery
- Pharmaceutical
- Dairy Products
- Others
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