Market Scenario:
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 thus, a small amount is sufficient to achieve the same sweetness level as sugar. They also help in enhancing the flavor of foods. Alternative sweeteners can 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 while artificial sweeteners consist of aspartame, saccharin, sucralose, neotame, acesulfame potassium, and many others. The global alternative sweeteners market is expected to reach USD 1.58 billion by end of the year 2023 at a CAGR of 5% during the forecast period.
One of the significant reasons for the rising growth of alternative sweeteners market is the mounting growth of various beverages. Beverages are gaining traction both in the developed and developing economies. 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 the significant factors for increasing demand of beverages which is ultimately anticipated to fuel the overall growth of alternative sweeteners market. 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.
Regional Analysis:
The global alternative sweeteners market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these, North America is estimated to account for the highest market proportion of 37.9% in the year of 2017 and the trend is expected to continue throughout the forecast period. However, Asia Pacific region is projected to expand at a high growth of 20.1% during the forecast period of 2017-2023.
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Segments:
The global alternative sweeteners market is segmented into product type and application,
On the basis of the product type, it is segmented into artificial sweeteners, natural sweeteners, and others. Among all, artificial sweeteners segment is projected to account maximum market proportion and projected to grow at CAGR of 5.10% during the forecast period of 2017-2023.
On the basis of application, it is segmented into sweet snacks, bakery & confectionery, dairy & frozen desserts, alcoholic beverages, non-alcoholic beverages, and others. The non-alcoholic beverages segment is dominating the market. This segment is projected to grow at CAGR of 5.28% during the forecast period.
Key Players:
• Some of the key players profiled in the global alternative sweeteners market: Archer Daniels Midland Company (U.S.), Ajinomoto Co. Inc. (Japan), DuPont Nutrition & Health (Denmark), Tate & Lyle Plc (U.K), Cargill Incorporated (U.S.), Ingredion Incorporated (U.S.), Roquette Freres S.A. (France), Macandrews & Forbes Incorporate (U.S.), Associated British PLC (U.K), JJD Enterprise (India), Heartland (U.S.), Niutang Changhai Food Additives Co, Ltd. (China), Sunwin Stevia International (China), Monk Fruit Corporation (U.S.) Avestia Pharma (India), Panchsheel Organics Limited (India), A.B. Enterprise (India), Akhil Healthcare Pvt. Ltd. (India), Herboveda (India), Anhui Elite Industrial Co.,Ltd (China), Hill Pharmaceutical Co. Ltd. (China), Shandong Shengwang Pharmaceutical Co. Ltd. (China), Azúcares Prieto (Spain), Hangzhou Focus Corporation (Shanghai), Denk Ingredients (Germany).
Target Audience:
• Global alternative sweeteners manufacturers
• Food & Beverages industry
• Raw material suppliers
• End users
• Retailers and wholesalers
• E-commerce companies
• Traders, importers, and exporters
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Key Findings:
• The North America region is estimated to retain its dominance throughout the forecast period and will grow at a substantial CAGR of 4.67%. Furthermore, among the Asia Pacific countries, China is projected to witness a substantial growth of 7.65% during the forecast period of 2017-2023.
• Global alternative sweeteners manufacturers find massive opportunity in India especially among the young population owing to increasing health and wellness trend in the country.
Regional and Country Analysis of Global Alternative sweeteners Market Development and Demand Forecast to 2023 Market
The reports also cover country-level analysis:
• North America
• U.S.
• Canada
• Mexico
• Europe
• U.K
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• Rest of Asia Pacific
• Latin America
• Middle East & Africa
• Middle East
• Africa
