Low
intensity sweeteners are quickly turning into the preferred
alternative for people that are overweight or suffer from diabetic
conditions. These sweeteners help in maintain insulin levels and are
low in calorie. According to the World Health Organization (WHO),
more than 1.9 billion adults were overweight in the World, while 600
million among them are obese. On the other hand, 422 million people
were suffering from diabetic conditions globally. These mountainous
numbers are the primary targets for the players in the global
low intensity sweeteners market.
According
to a recent study by Transparency Market Research, the global low
intensity market was worth US$1.25 bn in 2016, and will reach a
valuation of US$2.06 bn by the end of 2024, increasing at a CAGR of
5.8% during the forecast period of 2016 to 2024. The prosperity of
the food and beverages industry, growing awareness regarding the
availability of these dependable sugar alternatives, and continued
innovations in products and processes are some of the other factors
augmenting the demand in the global market for low intensity
sweeteners market. Conversely, strict regulations that delay the
approvals of several ingredients and high production cost are two
important factors hindering the growth rate of the low intensity
sweeteners market. Nevertheless, introduction of advanced products
has ample of opportunity available for the players involved in this
market.
Which
market segments are gaining demand?
Based
on product type, the global low intensity sweeteners market is
segmented into xylitol, isomaltulose, tagatose, trehalose, and
allulose. Among these, xylitol accounted for the maximum demand,
which can be attributed to its incremented application in the food
and beverage industry, which in turn has helped tagatose to emerge as
second most prominent product segment.
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Application-wise,
the market for low intensity sweeteners has been categorized into
beverage, pharmaceutical, confectionery, dairy products, and others
including cereal products and table top sweeteners. Beverage segments
accounted for the maximum 31.9% of the demand in 2016 and is expected
to remain most profitable in the near future. Geographically, Asia
Pacific is presenting lucrative opportunities owning to the presence
of vast population and increasing disposable income among the urban
population, although North America currently serves the maximum
demand due to higher percentage of obese population.
How
intense is the competition in the global low intensity sweeteners
market?
Four
players, E.I. Du Pont de Nemours and Company, Cargill, Inc., Roquette
Freres Company, and Ingredion, dominate the global low intensity
sweeteners market, accounting for 90% of the shares in 2016, as per
the figures suggested by the TMR report. The competition among these
leading companies is stiff, and they actively acquire promising
smaller and regional players in order to add to their geographical
presence.
Enhancing
product portfolio to meet specific demands and research and
development of advanced products are other strategies often resorted
by the leading companies to negotiate the competition coming from the
other three.
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