A new comprehensive study titled “Global Market Study on Novel Sweeteners: Stevia Extracts to Lead the Global Market in Terms of Revenue during 2017 - 2026” has recently been added to the database of Market Research Reports Search Engine (MRRSE). According to the report, the global novel sweeteners market is likely to grow at 5.2% CAGR throughout the forecast period.
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The report offers holistic analysis and insights on the global novel sweeteners market, highlighting the key factors that are driving and impeding the growth of the market. According to the report, growing emphasis on health and well-being is one of the key factors driving the growth of novel sweeteners globally. The obesity epidemic that has swept the US has brought the high consumption of sugar to the fore, and a conscious effort on part of end-users has been witnessed. Sensing the evolving needs in the market, manufacturers are including natural, organic, and novel sweeteners to cater to the demand.
The report segments the global novel sweeteners market into application, end user, product type and region. The application segment is further sub-segmented into dairy products, beverages, confectionery and chewing gums, sweet spreads and bakery goods. The end user segment is categorized into direct sales, pharmaceuticals, food and beverages and other. On the basis of product type, the global market is divided into trehalose, tagatose and stevia extracts. Geographically, the market is divided into key regions globally which are North America, Latin America, Europe, Asia Pacific Excluding Japan, Middle East & Africa and Japan.
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By product type, stevia is likely to remain the preferred choice for manufacturers, accounting for a significant revenue share of the market. Demand for stevia is likely to remain significant during the assessment period, and account for nearly US$ 769 Mn by the end of the forecast period. In addition to stevia, demand for tagatose novel sweetener is likely to remain significant during the assessment period. By application, adoption of novel sweeteners is expected to remain robust in beverages and sweet spreads segment.
The report profiles some of the leading players operating in the market. Some of these players are Royal DSM N.V., Guangzhou Leader Bio-Technology, Kemin Industries, FMC Corporation, ExcelVite, Farbest Brands, EID Parry, DDW The Color House, Doehler Group, Cyanotech Corporation, BASF, Chr. Hansen, AquaCarotene, Algatechnologies and Allied Biotech. These companies are focusing on consolidating their position in developing countries by launching cost-effective variants.
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