Global alternative sweetener market expected to reach approximately USD 18.60 billion by 2024, growing at a CAGR of around 5.2% between 2018 and 2024. The growth of the alternative sweetener market is primarily due to the growing consumption of processed foods in developed countries and an increasing number of beverage companies internationally.
The report covers a detailed analysis and forecast for the alternative sweetener market on a global and regional level from 2015 to 2024. The study offers historic data from 2015 to 2017 along with a forecast from 2018 to 2024 based on revenue (USD Million). The study comprises a comprehensive view of the market with the review of market drivers, restraints, and opportunities. It also provides the level of impact of drivers and restraints on the alternative sweetener market between 2017 and 2024.
The study includes a detailed competitive scenario and the product portfolio of key vendors. The report evaluates Porter’s Five Forces model to analyze the different factors affecting the growth of the alternative sweetener market. Moreover, the study encompasses a market attractiveness analysis, which provides the most attractive and least attractive market segments information by type, application, and region.
The report includes detailed segmentation of the alternative sweetener market based on type, application, and region. On the basis of type, the market can be fragmented into high-fructose syrup (HFS), high-intensity sweetener (HIS), and low-intensity sweetener (LIS). Based on application, the market can be segmented into food & beverages, pharmaceuticals, and others. Major regional segment analyzed in this report include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa with its further bifurcation into major countries including the U.S. Germany, France, the UK, China, Japan, India, and Brazil.
The report offers comprehensive competitive outlook including company profiles and market shares of the key players functioning in the global alternative sweetener market. The key players included in the report are Archer-Daniels-Midland Company, Kerry Group Plc, Roquette Frères S.A., NutraSweet Company, Ajinomoto Co. Inc., Tate & Lyle Plc, Showa Sangyo, Global Sweeteners Holdings Limited, Ingredion Incorporated, Japan Corn Starch Co., Ltd., Cargill Incorporated, and COFCO Rongshi Bio-technology Co. Ltd.
This report segments the global alternative sweetener market as follows:
Global Alternative Sweetener Market: Type Segment Analysis
Global Alternative Sweetener Market: Application Segment Analysis
Global Alternative Sweetener Market: Regional Segment Analysis
Alternative sweetener is a group of carbohydrates, which is of potential use as a replacement for the typical dietary sugars. The alternative sweetener is also known as an artificial sweetener, non-sugar sweetener, or sugar substitute. It is generally classified into two groups such as nutritive sweetener and nonnutritive sweetener. Artificial sweeteners add a taste of sweetness without any calories and hence are considered as an attractive substitute to table sugar.
Artificial sweeteners are generally used in different types of processed foods, including soft drinks, candy, baked goods, dairy products, puddings, and canned foods. It is also popularly used in home cooking. Artificial sweeteners play an important role in the improvement of food appearance, texture, color, and taste. The artificial sweeteners approved by the FDA include aspartame, potassium, saccharin, sucralose, neotame, and acesulfame. Alternative sweeteners are also helpful in preventing dental decay and controlling blood sugar.
Based on the product type, the alternative sweetener market is classified as a high-intensity sweetener (HIS), high fructose syrup (HFS), and low-intensity sweetener (LIS). High-intensity sweetener segment accounted for the largest market share in terms of revenue in 2017. The growth of the segment is mainly due to continuous developments and increasing applications in the dairy products and baked goods industry. The high fructose syrup segment is anticipated to grow at a moderate CAGR owing to cost-effectiveness and easy handling during the manufacturing process. Based on application, the alternative sweetener market is divided into pharmaceuticals, food & beverages, and others. Food & beverages segment accounted for the significant market share in terms of revenue in 2017. Beverage industry mainly uses high fructose syrup as a sugar substitute. Growing consumer preference for processed foods and rapidly evolving bakery industry is projected to boost the demand for alternative sweeteners in food and beverage industry. Increasing number of diabetic patients coupled with ongoing research & developments is anticipated to enhance the demand for alternative sweeteners in the pharmaceutical industry during the forecast period.
By geography, North America exhibits the largest market share in term of revenue in 2017. The alternative sweeteners market growth in North America is attributed to the rising number of diabetic patients, high consumption of processed food, and an increasing number of beverage companies. The alternative sweeteners market in the Asia Pacific is anticipated to grow at a significant CAGR over the forecast period owing to high consumption of alternative sweeteners. India and China are the major countries contributing to the growth of the alternative sweeteners market in the Asia Pacific. The market for alternative sweeteners in Europe is projected to show moderate growth over the forecast period. Stringent regulation of the government regarding the content of added sugar across different product categories may restrain the growth of the Europe alternative sweeteners market. Rising urban population and high rates of obesity & diabetes are anticipated to fuel the alternative sweetener market growth in Latin America over the forecast period.
The global alternative sweetener market has involvement of some major companies. The major companies are engaged in research & development activities, strategic mergers & acquisitions in order to achieve sustainable growth across different regions internationally. Some of the key players included in the global alternative sweetener market report are Archer-Daniels-Midland Company, Kerry Group Plc, Roquette Frères S.A., NutraSweet Company, Ajinomoto Co. Inc., Tate & Lyle Plc, Showa Sangyo, Global Sweeteners Holdings Limited, Ingredion Incorporated, Japan Corn Starch Co., Ltd., Cargill Incorporated, and COFCO Rongshi Bio-technology Co. Ltd.
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