Processed and refined sugar has been held culprit for disorders such as diabetes and obesity among others. However, cutting out all sugar out of daily diet is a struggle that many fail against. As the prevalence of these chronic diseases expands, researchers have increased their efforts to find a solution and come up with the alternatives of natural sweeteners. These natural sweeteners are extracted from organic sources and are low on calories and fructose. The sweetness is almost similar and the awareness regarding them is expanding on the back of growing penetration of social media.
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Global Natural Sweeteners Market to be worth over 39 Billion by 2026
According to a recent business intelligence study that has explored and evaluated the commerce of the natural sweeteners market, the global demand would be expanding at a steady CAGR of 4.5% during the forecast period of 2017 to 2026. The analyst of the report has estimated the total opportunities in the global natural sweeteners market to reflect a revenue of US$39,091.7 million.
A fine trend that the TMR report has revealed in the natural sweeteners market is increased health cautiousness among urban populations. Disposable income has substantially incremented among these mid-level income families and professionals are investing time and money on maintain a workout regime as well as control their diets. Natural sweeteners are ideal in negotiating side effects of traditional and refined sugar. Natural sweeteners come in various types too, such as maple syrup, honey, coconut sugar, blackstrap molasses, yacon syrup, balsamic glaze, banana puree, brown rice syrup, and sorghum syrup. Consumers are now opting for bakery products, beverages, and food items that are made from natural sweeteners and are willing to premium price for it.
The demand for high intensity natural sweeteners is much stronger than low intensity segment, says the TMR analyst, whereas the food and beverages industry is producing the maximum chunk of demand among all application industries. As per the estimations of the market report, food and beverage industry will produce a demand for natural sweeteners worth of US$27,900 million by the end of 2026, with erythritol and stevia being the two of the most common ones. The growing demand for natural low-calorie sweeteners is expected to drive the demand from this sector.
Bakery Industry Ensuring Consistent Demand In-flow
A number of natural sweetener manufacturers are also targeting the bakery industry to gain consistent demands. Bakery products are invariably sweet in taste but the preference is now moving onto high intensity natural sweeteners. Despite the lack of flavor and taste, high intensity sweeteners are used for their greater sweetness than sucrose.
As far as competitive landscape of the natural sweeteners market is concerned, the global shares are fairly consolidated with a handful of major players, such as American Sugar Refining, Inc., Nestlé S.A., Archer Daniels Midland Company, Associated British Foods PLC, Wilmar International Limited, Symrise AG, Cargill, Incorporated, Ajinomoto Co., Inc., and DuPont. Most of these players are pioneers that have helped expand the awareness via their strong product portfolio and are consistently strengthening their supply chain to reach larger masses.