Asia-Pacific Starch Sweetener Market - Growth, Trends, and Forecast (2020 - 2025)
Asia-Pacific Starch Sweetener Market is projected to grow at a CAGR of 5.55% during the forecast period 2020-2025.
The inclination toward low-calorie sweetener and low-calorie beverages, such as diet coke and low-calorie drinks, and low-calorie foods, such as yogurt, ice cream, and grain-based desserts, has gained popularity in the region. The physiology of sweetness receptors is also being studied in greater detail, and to the depths that is unprecedented, with an endeavor to make food and beverages sweet without using sugar.
Moreover, the replacement of sugar with low-calorie sweeteners, such as aspartame and stevia can reduce the calorie intake, and thus, help in weight and blood sugar level management. This may create a huge gap in terms of demand for starch sugars, thus, hampering the market growth.
Key Market Trends
Rising Demand for Sweeteners in Processed food
The quest to reduce calories has made food manufacturers look for sucrose replacement with a variety of substitutes. Presently, a majority of their product offerings are sweetened with bulk sweeteners or sugar substitutes. Sweeteners are now becoming a ubiquitous part of products, like ketchup, whole-wheat bread, salad dressing, yogurt, and even breakfast cereals. As the global obesity epidemic and its significant impact on health, consumers are looking for ways to curb their sugar intake and protect themselves from the negative health effects of weight gain. This has led the Asia-Pacific region to record the highest number of new product launches with low-calorie sweeteners such as Stevia which would provide subtle taste to the food. Manufacturers choose the low-calorie sweetener, either on its own or as a blend, based on taste considerations, stability, and cost.
Australia is the Fastest Growing Market
Australia Food Sweetener Market is growing at a comparatively higher growth rate. The market’s growth can be primarily attributed to increasing demand. This accounts for a 30% share in the various applications of sweeteners. The diet-soft drink sector is highly dominant in the sugar substitute market, with aspartame emerging as the leading sweetener. However, stringent regulations in the region are expected to hinder the growth of the market studied. The Australian sugar industry is focusing on developing alternatives for sugars, primarily to cater to the increasing demand for natural sweeteners. Furthermore, starch sweeteners are gaining immense popularity in the country with the increasing demand for natural and clean ingredients, which in turn, is boosting the market studied in the country.
The major players in Asia Pacific starch sweeteners market have a broad range of products and strong geographical presence. These factors give them a competitive advantage in the market. These companies are focused on innovative product launches, as they are trying to cater to various preferences of the consumers, globally. In order to sustain in the competitive market, the companies are enhancing their product portfolios constantly and strategically tapping into the possibilities of the new markets and segments. Some of the major players in the market studied are Cargill, Tate & Lyle PLC, Ingredion, E. I. du Pont de Nemours and Company among others.
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