Global Tabletop and Sachet Sweeteners Market 2017-2021
About Tabletop and Sachet Sweeteners
The application market of sweeteners has a larger contribution to the overall revenue compared with the direct consumption of sweeteners by end-users. The food and beverage industry is focusing on replacing sugar with sugar substitutes. This is creating a cost-cutting advantage for production. This is because, when compared with sugar, these substitutes are required in lesser quantities for the same sweet taste. This has accelerated the demand for sweeteners. Low-intensity sweeteners (LIS) can be consumed by people with diabetes. The lower calorie value of LIS controls insulin secretion, which in turn controls the blood sugar level. The demand for LIS is increasing in North America and is driving the sales of sweeteners.
Technavio’s analysts forecast the global tabletop and sachet sweeteners market to grow at a CAGR of 8.66% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global tabletop and sachet sweeteners market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Tabletop and Sachet Sweeteners Market 2017-2021
Technavio recognizes the following companies as the key players in the global tabletop and sachet sweeteners market: AJINOMOTO, Cargill, PureCircle, ROQUETTE, and Tate & Lyle.
Other Prominent Vendors in the market are: Cumberland Packing, DOMINO FOODS, GLG Leading Life Technologies, Heartland Food Products Group, Hermesetas, Merisant, NUTRASTEVIA, Stevia First, SteviaOne, Sunwin Stevia International, and Wholesome!
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is natural sweeteners witnessing increased demand. There are two types of sweeteners available in the market: artificial sweeteners and naturally derived non-calorie sweeteners. Stevia is one of the fastest growing natural sweeteners. The growing health problems, such as obesity and diabetes, have made consumers highly concerned about their health. This trend is expected to encourage consumers to opt for natural sweeteners.”
According to the report, one driver in market is increasing demand for natural sweeteners. Stevia does not have calorie and fat content. It has 30 different types of molecules with varying contents of sweetness and bitterness. Hence, it has been proven to be good for human health. Moreover, it helps to combat diabetes and maintain an optimum blood sugar level. These reasons have led to the introduction of several categories of products made from stevia. China is the largest producer of stevia leaf in the world with production bases in the Jiangsu, Shandong, Heilongjiang, and Gansu provinces. The US accounts for a small production of stevia leaves with the production centered in California, Georgia, and North Carolina.
Further, the report states that one challenges in market is patent expirations and high R&D investments. Companies get patents for a limited period. It is during this time that a company can sell a product made from the patented composition. It can govern the pricing strategy of the product to be sold in the market as long as it has the patent. For artificial sweeteners, vendors own their respective patents. Aspartame and saccharin are patented artificial sweeteners commonly sold in the market. Aspartame has been sold since 1983 by Searle under the brand names NutraSweet and Equal. NutraSweet is a very popular ingredient and is used in more than 3,000 products, including chewing gums, yogurts, diet soft drinks, fruit juices, puddings, cereals, and powdered beverage mixes. Once the patent expires, these products may lose their price value and may be subjected to price demotion depending on the market forces and competition. The expenditure on R&D is also high for artificial sweeteners.
AJINOMOTO, Cargill, PureCircle, ROQUETTE, Tate & Lyle, Cumberland Packing, DOMINO FOODS, GLG Leading Life Technologies, Heartland Food Products Group, Hermesetas, Merisant, NUTRASTEVIA, Stevia First, SteviaOne, Sunwin Stevia International, and Wholesome!
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