The new report by Expert Market Research titled, ‘Global Alternative Sweetener Market Size, Share, Trends, Growth, Analysis, Key Players, Report and Forecast 2023-2028’, gives an in-depth analysis of the global alternative sweetener market, assessing the market based on its segments like products, sources, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5.0%
The increasing incidence and prevalence of obesity and its consequences, rise in health concerns, adverse effects of high energy diets with low levels of physical activity, and growing awareness of the negative effects of high intake of free sugars has forced consumers to seek alternative sweeteners. Such factors are expected to drive the market growth. The global alternative sweeteners market is experiencing enormous growth as a result of ongoing advances and new uses in the food industry, such as developments in dairy products and baked goods. Alternative sweeteners provide sweetness, low cost, taste, nutrition, bulkiness, preservation properties, heat resistance, and blending abilities.
Industry Definition and Major Segments
Alternative sweeteners have a lower glycemic index, which means they do not impact insulin levels after consumption, and are consequently utilised as a low-calorie food ingredient. Alternative sweeteners are made from a variety of natural and artificial sources and are widely employed in a variety of applications, including dairy products, bakery items, and pharmaceuticals.
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Based on product, the market is segmented into:
- High Intensity Sweetener (HIS)
- Low Intensity Sweetener (LIS)
- High Fructose Syrup (HFS)
By source, the market is divided into:
The major applications of the market are:
- Food and Beverages
On the basis of region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The inclination towards living a healthy lifestyle and the rise in demand for low-calorie food products are some of the key factors driving the growth of the global alternative sweetener market throughout the forecast period. The growth of the beverage market in both developed and developing countries are also promoting the demand for alternative sweeteners. Changing lifestyles, westernisation, rising awareness about the availability of naturally and synthetically produced alternative sweeteners in the developing economies and the rising overweight global population are other important factors acting as market growth determinants. Also, the surging consumption of alcoholic and non-alcoholic beverages, especially among the youngsters, and changing tastes and preferences of consumers will further induce the market growth.
Key Market Players
The major players in the market include Archer Daniels Midland Company, Ajinomoto Co., Inc., Tate & Lyle Plc, Ingredion Incorporated, Cargill, Incorporated, International Flavors & Fragrances Inc. (DuPont Nutrition & Health), and Amai Proteins Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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