Global Specialty Sweetener Market – Growth, Trends and Forecasts (2017 – 2022)
The global specialty sweetener market values around USD 2 billion and is expected to reach 2.68 billion USD by 2022, registering a CAGR of 5% during 2017-2022 (the forecast period).
The Mexican government has implemented a tax on polyol sugar, sweetened beverages at 0.057 USD per liter, which is influencing consumers concerned about their dietary habits, thus, accelerating the market for specialty sweetener in this region.
The excessive weight-related problems and diabetes are the primary drivers for the global non-sugar sweeteners market. Each of these situations calls for sufferers to shed pounds with urgency, which has coaxed thousands of patients to put off the consumption of sugar from their everyday diet, thus, making consumers choose numerous sugar substitutes, thus, fueling the global specialty in sweeteners market. Consumers have become more health conscious and pay attention to food labels, in order to check the calorie content of the product. Therefore, food processing companies are adding low-calorie and sugar-free alternatives to their product lines.
The specialty sweetener market is segmented, based on types, into natural and artificial sweeteners. The natural sweeteners segment is gaining more popularity than the artificial sweeteners segment, as it has no side effects, however, decreased availability and development of more health-conscious artificial sweeteners have shifted preferences of consumers towards artificial sweeteners.
The special sweetener market is classified, based on application, into food and beverage sector. Aspartame is used widely in food & beverage industry, as a special sweetener in products that include bakery products, cereals, syrups, fruit-based products, and ready-to-drink beverages, thus, providing a great opportunity for the market for special sweeteners. Moreover, development of low sugar food for diabetic and eating regimen-conscious clients, coupled with growing diet liquids demand, is projected to impart demand during 2017-2022 (the forecast period). Products with special sweetener have low energy content and are used to control weight, and prescribed by the medical doctor for diabetics as they do not affect blood sugar level.
MARKET SEGMENTATION-BY REGION
With a market share of over 35%, North America dominated the sweetener market in 2015. The growth in demand for sweeteners in industrial and non-industrial applications and changing consumer preferences have accelerated the market growth in the region. North America is also a leading producer and consumer in the sweetener market, due to the growing demand for convenience food, functional food, and alternative sugar sources.
Some of the leading manufacturers and suppliers of the special sweeteners include Coca Cola Company, PepsiCo.Inc, Cargill Inc., Nestle S.A, among others. These companies focus mainly on capacity expansion because of the growing demand for sweeteners as an ingredient in the food & beverage industry.
Our Global Specialty Sweetener Market Report Covers:
Market trends & dynamics
Latest news & developments
Porter’s five force analysis