Global High Intensity Sweeteners Market Driven by the Booming Food and Beverage Industry in the Forecast Period of 2021-2026
The new report by EMR titled, ’Global High Intensity Sweeteners Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global high intensity sweeteners market, assessing the market based on its segments like type, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2016-2026)
Historical Market Size (2020): USD 6.37 billion
Forecast CAGR (2021-2026): 2.7 %
Forecast Market Size (2026): USD 8.24 billion
The sweeteners business, which is expected to hit USD 81.7 billion in 2020, has a major effect on the global high intensity sweeteners industry. Sugar is the most common sweetener, accounting for a large portion of the demand in terms of volume. Although sugar substitutes account for less than a quarter of the market, increasing health awareness and the continued availability of the goods are expected to propel the segment forward in the coming years. Sugar was led by high intensity sweeteners (HIS) as the industry’s second-largest market. Aspartame is the most common form in the HIS industry, accounting for 30% of the global market share. Aspartame’s rising popularity can be attributed to its increased use in pharmaceuticals and the soda industry. China is the world’s largest producer of the substance, with seven of the world’s largest aspartame producers based there. Apart from China, Europe, Japan, and South Korea are the top aspartame manufacturers.
Industry Definition and Major Segments
Sugar additives such as high-intensity sweeteners are used to sweeten and intensify the flavor of food products. They are widely used in the food and beverage industry. These are normally sweeter than chocolate but only take a fraction of the amount of sugar to reach the same sweetness. It is often substituted with sugar because, despite being much sweeter, the calorie content is exceedingly low to non-existent.
The various types of high intensity sweeteners are as follows:
They find their applications in the following segments:
- Health Care
- Tabletop Sweeteners
The regional markets for the product include:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
The global demand for high-intensity sweeteners is being driven by the booming food and beverage sectors. Sugar replacements are widely used in the food industry, including bakery, confectionery, frozen meals, and RTE foods. The growing use of high intensity sweeteners in soda is fueling the global demand for high-intensity sweeteners. The consumption of beverages is rapidly growing, especially among millennials. The use of sugar substitutes in the beverage and convenience food industries is a major driver of industry development, especially in emerging markets such as the Asia Pacific and Latin America. The market expansion is also aided by increasing customer disposable income in Asian countries. The cost-effectiveness of high intensity sweeteners relative to sugar boosts further demand. Due to their reduced to zero calorie content, health-conscious shoppers are turning away from sugar and towards high intensity sweeteners. With the rising prevalence of health problems, such as obesity and diabetes, people are turning to healthy alternatives such as sugar substitutes. Regulatory agencies, such as the FDA, are set to introduce and approve new high intensity sweeteners, which is expected to fuel market development over the projected period. The growing appeal of HIS blends is expected to propel the industry even further ahead.
Key Market Players
The major players in the market are Vitasweet Co.,LTD., Ingredion Incorporated, SinoSweet Co., Ltd., Cargill Inc, Anhui Jinhe Industrial Co., Ltd, Celanese Corporation, Pure Circle, and Tate & Lyle PLC, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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