In the last few years the world has witnessed drastic change in lifestyle and eating pattern across most developed and developing nations. While this paradigm shift is steered by adverse effects of unhealthy living, it is here to stay as people look for an overall better standard of living. As cutting down sweet seems easier way of committing toward a healthy living, the prevailing environment is highly conducive to the growth of the global low intensity sweeteners market. Low intensity sweeteners are food additives that taste like sugar but do not contain the same amount of calories as compared to the latter.
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Riding on back of the rising diabetic population worldwide and overall initiatives to reduce burdens of obesity, the demand for low intensity sweeteners has considerably risen. The next few years seems much lucrative as the leading players explore opportunities across emerging nations. They are currently investing in research and development of novel products to cater to the spiraling demand for sugar-free products. These activities are gaining pace across the world as prevention of health problems such as diabetes, obesity, and high cholesterol has become the need of the hour, thus tipping scales in favor of the global low intensity sweeteners market. Besides this, rising focus toward weight reduction is fostering growth in the market.
Between 2017 and 2025, the global low intensity sweeteners market is projected to exhibit a CAGR of 5.8%. At this the market’s valuation will reach US$2.06 bn in 2025, from US$1.25 bn in 2016.
Persistent Demand for Xylitol to Secure its Lead among Other Low Intensity Sweeteners
By type, the global low intensity sweeteners market can be segmented into Tagatose, Xylitol, Trehalose, Isomaltulose, Allulose and others, which include sorbitol, erythritol and Maltose. Of these, Xylitol held the largest share in the market in 2016 on account of its rising application in the food and beverages industry. Considering this, tagatose emerged as the second-leading segment in terms of product.
Based on application, the demand for low intensity sweeteners is noted across beverage, confectionary, pharmaceutical, and dairy products industries. Besides this, cereal products and table top sweeteners markets also exhibit the demand for low intensity sweeteners. Of these, beverage segment emerged dominant, holding over 31.9% of the market in 2016, followed by the confectionary and dairy product segment.
Radically Changing Eating Habits Seal Asia Pacific’s Lead in Market
Regionally, North America, Europe, Asia Pacific, Middle East and Africa and Latin America are the key market segments. Among these, Asia Pacific held the dominant share of 33.2% in the global market in 2016. On account of rising opportunities in India, China, Japan, and other emerging nations, Asia Pacific is projected to remain undisputed as the market lead through the forecast period. It is also prophesized to showcase the maximum CAGR, as enterprises invest in the research and development of novel products. Persistently rising demand from consumers in Asia Pacific will also aid the market’s expansion. Besides this, Europe has emerged as lucrative market for low intensity sweeteners as well. Countries such as the U.K. Germany France, and Italy have emerged as the most lucrative pockets in Europe. In North America, the market is forecast to witness rising opportunities in the U.S.
Some of the most prominent names in the global low intensity sweeteners market are Cargill Inc. (Wayzata, U.S.A), Roquette Freres Company (Lestrem, France), Ingredion Incorporated (Westchester, Illinois, United States), Matsutani Chemical Industry Co., Ltd. (Itami City, Japan), E.I. Du Pont de Nemours and Company (Wilmington, Delaware, United States), ZuChem Inc. (Chicago, IL United States), Spi Pharma Inc., (Wilmington DE, United States), Food Chem International Corporation (Shanghai), EcogreenOleochemicals (Singapore), Gulshan Polyols Limited (Uttar Pradesh India).