According to the latest report published by Acute Market Reports, “Global Alternative Sweeteners Market By Source (Natural Alternative Sweeteners, Artificial Alternative Sweeteners), By Type (High-fructose Corn Syrup (HFCS), High-intensity Sweeteners, Low-intensity Sweeteners), By Application (Food, Beverages, Tabletop Sweeteners, Personal Care, Pharmaceuticals) – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the worldwide market for alternative sweeteners accounted for US$ 13232.4 million in 2017 and increased to CAGR by 4.7 per cent from 2018 to 2026.
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Market Insights
Global alternative sweeteners accounted for US$ 13232.4 million in 2017, with CAGR growing by 4.7 per cent during the 2018-2026 forecast period. Alternative sweeteners are food additives that have a low fat content and are intended to replicate the taste impact of sugar. These products are often labeled’ low joule,” diet’ or’ no sugar’ and are primarily used in a variety of foods and beverages, including soft drinks, desserts, sweets, jellies, ice cream, yoghurt, chewing gum and cakes, among others.
The increasing amount of consumers impacted by diabetes is primarily driving the worldwide market. Alternative sweeteners play an significant part in weight loss and, as a result, with an increasing amount of obese patients globally, demand is anticipated to increase from 2018 to 2026 during the forecast period. Increased customer knowledge of healthy and enhanced lifestyles is also boosting the market’s demand. Trend demonstrates that multiple legislative bodies are concentrating on the introduction of rules and standards with the aim of reducing added sugar in food and beverage goods. This, in turn, is driving food and beverage businesses to embrace alternative sweeteners to meet the increasing demand of health-conscious customers. Increased demand for natural sweeteners is another factor driving the worldwide market, due to customer preference for healthy and natural food. Consumers are also moving towards alternative sweeteners due to the multiple health problems associated with sugar consumption.
The worldwide market for alternative sweeteners has been segmented by type, source, implementation and location. In 2017, the high-fructose corn syrup (HFCS) segment retained a significant share of the worldwide market for alternative sweeteners by type. This segment is anticipated to be driven by an increase in public regulations accompanied by a high level of acceptance of HFCS by food and beverage businesses. In terms of source, the segment of natural sweeteners retained the biggest income share in 2017 and is anticipated to be the fastest increasing segment. In terms of implementation, beverages retained a significant share of the worldwide market for alternative sweeteners due, among others, to the increasing use of alternative sweeteners in carbonated drinks and soft drinks.
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.
By Type Segment (2016–2026; US$ Mn)
By Source Segment (2016–2026; US$ Mn)
By Application Segment (2016–2026; US$ Mn)
By Geography Segment (2016–2026; US$ Mn)
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