Global
Alternative Sweetener Market: Snapshot
The
global alternative sweetener market is likely to experience a modest
but reliable rate of growth over the coming years. One of the key
drivers in favor of the global alternative sweetener market currently
is the increasing demand for healthier low-calorie foods, especially
in urban areas of core market regions. Manufacturers in the market
are trying to develop and launch multiple types of sugar substitutes,
primarily propelled by the rising health consciousness among
consumers. The global
alternative sweetener market
is further driven by the rising sugar prices.
Recent
studies have shown that there is little to no link between cancer and
the consumption of low-calorie sweeteners. On the other hand, natural
alternative sweeteners are valuable for those trying to managing
their calorie count by either cutting down on carbohydrates or are
looking to improve their overall health. The currently growing health
consciousness among consumers is caused by the growing rates of
obesity and diabetes, along with a number of other chronic health
issues.
The
global alternative sweetener market is expanding at a CAGR of 4.2%
from 2015 to 2021. It was evaluated at US$11.5 bn in 2014 and is
expected to reach US$15.4 bn by the end of 2021.
North
America Likely to Continue Leading Demand for Alternative Sweeteners
The
global alternative sweetener market’s regional segmentation
includes the key regions of North America, Europe, Asia Pacific, and
rest of the world. Among these, North America had taken up the
leading share in the global alternative sweetener market for 2014, a
factor attributed to the growing obesity epidemic, increasing risks
associated with cardiovascular diseases, and the growing number of
patients suffering from diabetes. Food and beverage makers in North
America are concentrating hard on the development and
commercialization of low calorie and sugar free products to meet the
consumers need in North America.
Furthermore,
the growing count of obese consumers is
resulting in a steady decline in the overall consumption of soft
drinks in North America as well as Europe, thereby creating a fall in
demand for high intensity sweeteners. Consequently, the demand for
sweeteners has experienced a significant paradigm shift in terms in
consumer choices in two regions that are currently considered the
core market regions by top players in this market. At the same time,
Asia Pacific, which held the second leading share in the global
alternative sweetener market for 2014, is likely to show a growth in
demand, marked by growing consumer awareness.
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Consumer
Preference for Alternative HIS on the Rise
In
terms of product type, the global alternative sweetener market is
divided into low intensity sweetener (LIS), high intensity sweetener
(HIS), and high fructose syrup (HFS). High intensity sweetener has so
far been highly popular consumers, followed by high fructose syrup.
Both segments are expected to continue showing strong growth, while
low intensity sweeteners and polyols are expected to gradually
replace the other two segments in the long run, especially from the
perspective of the food and beverages industry.
Based
on applications, the global alternative sweeteners market can be
classified into beverages such as diet-carbonated soft drinks,
ready-to-drink tea and coffee, juices; and food products such as
confectionaries, tabletop sweeteners, chewing gum, chocolate, bakery
products, and dairy products. In addition, alternative sweeteners are
used in personal care products such as toothpaste, mouthwash, and
glycerin as well as in pharmaceutical products.
Key
players in the alternative sweetener market include Tate & Lyle
Plc, Cargill, Incorporated, Ajinomoto Co., Inc.,
Archer-Daniels-Midland Company, Ingredion Incorporated, Roquette
Frères S.A., and The NutraSweet Company.
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