The Asia-Pacific low-calorie sweeteners market is projected to witness a CAGR of 6.73% during the forecast period (2020 - 2025).
- As per the data released by the International Diabetes Federation in 2019, China at present is the country with the highest number of diabetics worldwide, with around 116 million people suffering from the disease. By the year 2045, it is predicted that India will have around 134 million people suffering from diabetes.
- Therefore, these two countries are expected to be the largest buyers for the low-calorie sweeteners not only in the Asia-Pacific region but also around the world. This growing usage opens the doors for greater positioning for low-calorie sweeteners as a functional product in terms of addressing other lifestyle diseases, such as obesity and cardiovascular disease too, which is prominent in the region too.
Key Market Trends
Growing Application of Stevia by the Beverage Manufacturers
Increasing demand for low-calorie sweeteners from food and beverage manufacturers in the Asia-Pacific region has been increased from the last few years, owing to the rising concern over obesity and diabetes in the Asian countries. Therefore, considering this, many key players in the beverage segment are introducing the products with natural low-calorie sweeteners mainly stevia. For instance, in 2018, Coca-Cola launched Coke “Coca-Cola Life” sweetened with 100% stevia in New Zealand. The company is also planning to introduce this product in the South Pacific region in the upcoming years.
Moreover, key players in stevia are offering customized stevia powder and granules for beverage manufacturers, which is encouraging them to introduce beverages products without compromising the taste and flavor. For instance in 2016, PureCircle of Malaysia introduced custom stevia ingredient “ Sigma-Beverages”, specifically for beverages application.
Increasing Demand for Low-Calorie Sweeteners in Australia
Consumers in Australia are becoming more aware of the health-related disadvantages of being hidden in the sugar, therefore, they are becoming more proactive about the usage of low-calories sweetener infused food and beverage products. Considering this factor, many processed food manufactures are expected to introduce low-calorie sweeteners products on the Australian retail shelves during the forecast period. Since the country has a rich culture of sports and fitness, therefore this factor too is driving the demand for these low-calorie sweeteners in Australia.
With the growing demand for clean-label ingredients in the country, the players are also introducing products that have the properties of both low-calorie sweeteners and clean-label claims. For instance, Sweegen Inc. a nature-based sweetener company from the United States, received approval from the Food Standards Australia New Zealand (FSANZ), to launch its new non-GMO, nature-based stevia sweetener, BESTEVIA Reb M, in the country.
The Asia-Pacific low-calorie sweeteners market is competitive. PureCircle holds one of the dominant position in the market, which is closely followed by the other players such Ingredion Incorporated, Tate & Lyle, ADM, and Ingredion in the year 2017, PureCircle opened the new offices and labs in Shanghai (China) and New Delhi (India) to provide greater connectivity with the local markets. Therefore, this expansion strategy of the companies can aid to increase the penetration of the low-calorie sweeteners in this region, with the importance of improving public health in large numbers.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support