Investments
by key players in non-calorie sweeteners, cost optimisation and
process standardisation are the new trends in the global sweetener
market
The
novel sweetener and artificial sweetener market have few buyers and
sellers in the global market, and hence companies are focussing on
cost optimisation in order to increase productivity and market share.
Moreover, manufacturing non-sugar and low-calorie sweeteners involves
a standard extraction process. Companies in the global
sweetener market
have patent extraction processes for the same. This is further
supported by stringent government regulations due to health issues.
Increasing
investments by companies coupled with geographical expansion by
market players has led to high competitiveness in the global
sweetener market. In addition to this, increased brand awareness of
products dealing with specific issues such as obesity curtailment,
nutritive advantages and health benefits is expected to drive demand
for artificial sweeteners and novel sweeteners specifically stevia
extracts in the near future.
Consumer
reluctance in adopting sugar-alternative products and regulatory
concerns are restraining the growth of the global sweetener market
A
major factor hampering revenue growth of the global sweetener market
is the stringent regulatory norms regarding the use of artificial
sweeteners as a food ingredient. This is due to side effects such as
allergic reactions, improper functioning of the digestive system and
other health-related issues. Although cultivation and consumption of
novel sweeteners such as stevia are increasing at a rapid pace,
various end-use industries such as confectionery, bakery and others
are witnessing a slow adoption of sweeteners as a food ingredient.
This is due to limited regulatory approvals by various legislator
bodies keeping in mind the health concerns of consumers across the
globe.
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After-taste
of sucrose alternative sweetener products and the high prices of
low-calorie sweeteners is restricting acceptance of these products
among consumers and thus restricting market growth to a certain
extent. Lack of consumer awareness and acceptance of natural
ingredients as an alternative to sugar in products such as
confectionery, snacks, dairy products and others has resulted in low
consumption of sugar-alternative sweeteners that include other
natural sweeteners, artificial sweeteners, novel sweeteners and sugar
alcohols.
Food
and beverages segment anticipated to account for a relatively high
value share in the global sweetener market over the forecast period
The
food and beverages segment is expected to account for around 70%
share in terms of value throughout the forecast period. This segment
is anticipated to register a significant CAGR of 3.2% in terms of
value. The sweet spreads sub-segment of the food and beverages
segment is expected to witness an increase in revenue share by 2027
end owing to increasing popularity of sweet spreads among consumers.
This sub-segment is estimated to account for about 14% revenue share
of the global sweetener market by 2017 end. The sweet spreads segment
is the fastest growing sub-segment and is expected to be valued at
close to US$ 12 Bn in 2017 and will reach a market valuation of about
US$ 14 Bn by 2027 end. This is attributed to increasing demand for
sweet spreads and its increasing popularity among consumers.
Owing
to increasing exports and manufacturing of food and beverage
products, the related segment is expected to expand at a high CAGR in
North America
By
the end of 2027, the food and beverages segment in the North America
sweetener market is projected to reach more than US$ 18 Bn, expanding
at a CAGR of 3.0% over the forecast period and revenue is expected to
increase 1.3x by 2027 end as compared to 2017. The food and beverages
segment is estimated to account for a little more than 70% value
share in the North America sweetener market by 2017 end and is
expected to show little growth in the value share by 2027 over 2017.
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