The
growing demand for low-calorie foods and natural sugar substitutes
has significantly fueled the global alternative sweetener market,
states Transparency Market Research in a recent report. The 75-page
research publication is titled “Alternative Sweetener Market -
Global Industry Analysis, Size, Share, Growth and Forecast 2015 -
2021” and is available for sale on the company website.
Alternative
sweeteners are a type of sugar substitute used to lend foods and
beverages the sweet taste of sugar with significantly lower traces of
food energy. Alternative sweeteners are either mixed with
starch-based sweeteners before sale to consumers or are used directly
in commercially processed foods.
Based
on the findings of the report, the alternative
sweetener market is
projected to expand at a 4.2% CAGR from 2015 to 2021. In 2014, the
value of the market was pegged at US$11.5 bn and this is anticipated
to rise to US$15.4 bn by 2021. The growing application of alternative
sweeteners in diet foods and soft drinks provides a major opportunity
for vendors to capitalize on. On the other hand, strict food and
safety regulations regarding the use of additives in foods and the
various health problems associated with the excessive consumption of
sugar-free products threaten to negatively impact the alternative
sweetener market.
The
report studies the global alternative sweetener market on three
fronts: Product, application, and geography.
By
type of product, the alternative sweetener market has been fragmented
into high intensity sweetener (HIS), high fructose syrup (HFS), and
low intensity sweetener (LIS). Expanding at a 3.4% CAGR from 2015 to
2021, the HIS segment dominates the overall market, followed by HFS.
LIS are projected to expand at the highest CAGR of 7.1% during the
forecast period.
By
application, the alternative sweetener market has been divided into
beverages, food, and others, including personal care and
pharmaceuticals. In the food segment, alternative sweeteners are used
in tabletop sweeteners, bakery products, dairy products, chewing gum,
confectionaries, and chocolates, among others. In the beverages
segment, alternative sweeteners are used in coffee, tea, juices, and
diet versions of carbonated drinks. The beverages segment accounts
for the largest share in the overall alternative sweetener market.
By
geography, the market for alternative sweeteners has been categorized
into Asia Pacific, North America, Europe, and Rest of the World. Of
these, North America accounted for the largest share in the global
alternative sweetener market and this region is projected to retain
its lead through 2021. Mexico and the US are the largest contributors
to the North America alternative sweetener market and are anticipated
to help guide the region at a 3.6% CAGR from 2015 to 2021. Asia
Pacific has been witnessing an increasing demand for alternative
sweeteners, especially from the emerging economies of China and
India. The alternative sweetener market in India is projected to
expand at a 6% CAGR during the forecast period while the market in
China will register a 3.4% CAGR.
Archer-Daniels-Midland
Company, Cargill Incorporated, Roquette Frères S.A., NutraSweet
Company, Ajinomoto Co. Inc., Tate & Lyle Plc, and Ingredion
Incorporated are some of the top companies operating in the
alternative sweetener market. The report identifies the leading
players in this space and key attributes such as company and
financial overview, recent developments, and business strategies have
been taken into consideration while reviewing the performance and
contribution of these vendors.
The
report segments the global alternative sweetener market as:
Global
Alternative Sweetener Market, by Product type
- High Fructose Syrup (HFS)
- High Intensity Sweetener (HIS)
- Low Intensity Sweetener (LIS)
Global
Alternative Sweetener Market, by Application
- Food
- Beverages
- Others (including pharmaceuticals and personal care)
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