The Asia Pacific alternative sweeteners market is evaluated to record a CAGR of 3.85%, over the studied period of 2021 to 2028. The region’s market growth is driven by factors such as, the rising demand for flavored dairy products, the increasing incidence of health-related problems like diabetes, hypertension, dental damage, and obesity, and the incorporation of sugar taxes on products.
The Asia Pacific alternative sweeteners market growth is analyzed by evaluating India, Thailand, Japan, Australia & New Zealand, Vietnam, China, South Korea, Indonesia, and the rest of the Asia Pacific. Diabetes is a rising public health challenge in Thailand. With one in 13 adult Thais suffering from diabetes, the lifelong disease increases the risk of strokes and heart attacks, at an early age, resulting in premature death. Over time, diabetes can cause damage to the eyes, blood vessels of the heart, nerves, and kidneys. The condition also aggravates the impact of diseases like HIV/AIDS, malaria, and tuberculosis. This changes the population’s culinary preferences, inclining them more towards low-calorie sugar alternatives.
On the other hand, Vietnam’s market is mainly fueled by the augmenting economy, and steady economic conditions. This factor has led to a rise in disposable income, as well as spending patterns. The increased demand for natural and non-calorie sweeteners, coupled with the growing demand for sweeteners across several applications, including processed food and beverages from developing economies, are among the key factors augmenting the market. Therefore, these factors are projected to fuel the region’s market growth over the forecast period.
Leading firms operating in the market are, Purecircle Ltd, Ajinomoto Co Inc, etc.
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