Argentina Food Sweetener Market - Growth, Trends and Forecast (2015- 2020)
In 2014 the global market for food sweeteners was valued at USD 84 billion. It is estimated to increase at a CAGR of 4.5% to reach nearly USD 111 billion by 2020.
Argentina Food Sweetener Market Dynamics
Sugar dictates more than 80% share in this market. The major constraint in the sugar market is the volatility in prices, leading to market fluctuations.
Argentina Food Sweetener Market Segmentation
The sweetener market is segmented into sugar, high-intensity sweeteners (HIS) and high-fructose corn syrup (HFCS). The market for HIS is expected to reach nearly USD 2.2 billion in 2020 at a CAGR of 5.1%. This growth is due to increased awareness and usage of dietary foods. Another major driver is the growing population of overweight, obese, and diabetic patients which is resulting in growth in this category. Although presently, HIS does not constitute a major share of the market, this is the fastest growing segment due to the rising health concerns among people. Aspartame and sucralose are the most famous sweeteners in the HIS segment.
Stevia plant grows naturally in South America, giving stevia extract an upper hand in the natural sweetener market in the region. This has also made stevia a leading natural replacement for sugar and artificial sweeteners, has created jobs globally, and has contributed immensely to Latin Americaâ€™s emerging economy. Even as the production base for stevia is being extended to Latin America and Africa, concerns that demand could overtake supply have led to significant investment in production capacity in the US. The market is segmented based on applications viz., dairy & frozen products, bakery, beverages, confectionary and others.
Key Players in Argentinaâ€™s Food Sweetener Market
The leading players in this segment are Cargill, Kerry Group, Stevia First Corporation, Hermes Sweeteners Ltd, and Tate and Lyle Plc. Companies are bringing innovations in the stevia-derived products to meet the consumer demand for non-caloric natural sweeteners. Argentina has five companies which produce HFCS. There are two companies which dominate the market and all the companies operated at full capacity in 2010, producing an estimated 300-400 thousand tons of HFCS during the period
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