According to the latest report published by Credence Research, Inc. “Global Alternative Sweeteners Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global alternative sweeteners market accounted for US$ 13232.4 Mn in 2017, expanding at a CAGR of 4.7% from 2018 to 2026.
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The global alternative sweeteners accounted for US$ 13232.4 Mn in 2017 growing with a CAGR of 4.7% during the forecast period from 2018 to 2026. Alternative sweeteners are food additives that has low fat content and aims to duplicate the effect of sugar in taste. These products are often labelled as ‘low joule’, ‘diet’, or ‘no sugar’ and mainly finds application in various food and beverages products that includes soft drinks, desserts, cordials, jellies, ice-cream, yoghurt, chewing gum and cakes among others.
Rising number of consumer affected by diabetes is mainly driving the global market. Alternative sweeteners play an important role in weight loss and hence with the growing number of obese patients worldwide, the demand for it is expected to rise during the forecast period from 2018 to 2026.Increasing consumer awareness regarding healthy and improved lifestyle is also boosting the demand of this market. Trend shows that various regulatory bodies are focusing on introducing guidelines and norms with an objective to reduce the added sugar in food and beverages products. This in turn is driving the food and beverages companies to adopt alternative sweeteners to cater to the growing demand of health conscious consumers. Increasing demand for natural sweeteners is another factor driving the global market owing to consumer preference for healthy and natural food. Consumers are also shifting towards alternative sweeteners owing to the various health issues associated with the consumption of sugar.
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The global alternative sweeteners market has been segmented by type, source, application and geography. In 2017, High-Fructose Corn Syrup (HFCS) segment held a major share of the global alternative sweeteners market by type. Increasing government regulations followed by high adoption rate of HFCS by food and beverages companies is expected to drive this segment. In terms of source, natural sweeteners segment held the largest revenue share in 2017 and is expected to be the fastest growing segment. In terms of application, beverages held major share of the global alternative sweeteners market owing to the rising application of alternative sweeteners in carbonated drinks and soft drinks among others. In terms of geography, North America is the most prominent market and held the largest market share in terms of value in the global alternative sweeteners market. High preference for processed food that includes chocolates and cakes among others followed by growing application in sports and energy drinks are primary factors driving the alternative sweeteners market in this region. In addition, with the rising number of obese and diabetic patients in this region, consumers are shifting towards alternative sweeteners adoption in their diets which in turn is expected to propel the market demand during the forecast period from 2018 to 2026.
Key players operating in the global alternative sweeteners market includes Archer-Daniels-Midland Company, Roquette Frères S.A., Kerry Group Plc, Ajinomoto Co. Inc., Cargill Incorporated, Ingredion Incorporated, Global Sweeteners Holdings Limited, NutraSweet Company, E. I. Dupont De Nemours and Company, Tate & Lyle Plc and Purecircle Ltd. among others.
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By Type Segment
- High-Fructose Corn Syrup (HFCS)
- HFCS 42
- HFCS 55
- HFCS 65
- HFCS 90
- High-intensity sweeteners
- Other HIS (Glycrrhizin, Alitame and Neotame)
- Low-intensity sweeteners
- Other (Isomalt, Hydrogenated Starch Hydroysates, Lacitol and Trehalose)
By Source Segment
By Application Segment
- Bakery and Confectionary
- Dairy Products
- Carbonated Soft Drinks
- Tabletop sweeteners
- Personal Care
By Geography Segment
- North America
- Asia Pacific (APAC)
- Latin America
- Middle East & Africa (MEA)
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