Worldwide Alternative Sweeteners Market | Industry Overview, Top Key Players Profile, Growth Analysis and Forecast to 2023
January 12, 2018 --
The Global Alternative Sweeteners Market is witnessing an impressive growth over the last few years. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Alternative Sweeteners Market Research Report- Forecast to 2023 that the market will demonstrate an exceptional CAGR while achieving million-dollar growth rapidly in the forecast period.
Alternative sweeteners are food additives which contain no/low calories and can be used in place of sugar due to their sweet taste. They are sweeter than table sugar and a smaller amount is needed to achieve the same sweetness level as sugar. They also help in enhancing the flavour of foods. Alternative sweeteners can be either be produced using natural sources or synthetically. Synthetically produced sweeteners are also called artificial sweeteners. Natural sweeteners include stevia, maple syrup, monk fruit, sucrose, and many others. Artificial sweeteners consist of aspartame, saccharin, sucralose, neotame, acesulfame potassium, and many others.
One of the significant reasons of the rising growth of alternative sweeteners is the mounting growth of various beverages. Beverages are gaining traction both in the developed and developing economies. Due to the increasing population coupled with the rising per capita disposable income is anticipated to fuel the sales of beverages. Apart from that, factors such as rising women workforce, and increasing demand of convenience products are anticipated to be significant factors for increasing demand of beverages which is ultimately anticipated to fuel the overall growth of alternative sweeteners.
Alternative sweeteners are hugely used in the bakery & confectionery products, dairy products, and various frozen foods which will aid to upsurge the sales of alternative sweeteners during the forecast period of 2017-2023. Growth of the alternative sweeteners market is attributed to the rising obesity and diabetes among the consumers. These diseases bring various chronic diseases such as kidney failure, respiratory disorders, and several other diseases. Increasing consumer awareness is playing a crucial role in enhancing the demand of alternative sweeteners. Also, one of the recent trends gaining momentum among the consumers is the rising growth of natural sweeteners products.
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Latest Industry Updates:
July 2017 ADM acquired Chamtor, a producer of wheat based sweeteners and starches
March 2017 ADM launched two new sweetener brands, SweetRight stevia and VerySweet monk fruit
March 2017 Tate & Lyle PLC announced an agreement with Sweet Green Fields, which offers natural and healthy sweetener solutions
June 2017 Ingredion Incorporated planned to invest US$30 million to open a new facility in Kalasin, Thailand in order to cater the massive demand of alternative sweeteners in the south eastern part of Asia Pacific region
Major Key Players:
Key manufacturers are concentrating to augment its brand name by arranging several promotional activities. The companies are participating in various social media promotions, events and interaction with the consumers. The manufacturers are demonstrating their new product offerings in order to attract the new customers. By this strategy the product of the company will be popular among the consumers which will aid to upsurge the overall profitability of the company.
Moreover, the key players are emphasizing in the research & development process to introduce new product which will extend the overall product line of the company. Key players are introducing new alternative sweeteners to surge the volume sales and also to increase the overall revenue of the company. In addition, manufacturers are penetrating the untapped market to increase the overall revenue. Apart from that, key manufacturers are opening new manufacturing plant in the attractive location in to cater the increasing demand of alternative sweeteners.
The key players profiled in alternative sweeteners are Archer Daniels Midland Company (U.S.), Ingredion Incorporated (United States), Cargill Incorporated (U.S.), DuPont Nutrition & Health (Denmark), Tate & Lyle plc (U.K.), Ajinomoto Co., Inc. (Japan), and Roquette Freres S.A. (France) among many others.
Global alternative sweeteners market has been divided into product type, application, and region
Based on Type: Artificial Sweeteners, and Natural Sweeteners
Based on Application: Bakery and Confectionery, Dairy and Frozen Desserts, Snacks, alcoholic beverage, Non-alcoholic beverages, and others
Based on Region: North America, Europe, Asia Pacific, and Rest of the World
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The global alternative sweeteners market is segmented into North America, Europe, Asia Pacific and Rest of the World. Among these, North America is estimated to retain its dominance throughout the forecast period of 2017-2023. This is attributed to the increasing awareness of the healthy food habits and increasing disposable income of consumers. Also, the new product launch by the key players in the alternative sweeteners market is anticipated to stimulate the sales of alternative sweeteners in the North American countries. Europe is estimated to account for one quarter of the overall market of global alternative sweeteners market in the year of 2017. However, Asia Pacific region is estimated to witness a maximum growth in the global alternative sweeteners market during the forecast period of 2017-2023.
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