The global intense sweeteners market size is set to gain impetus from the rising demand for best alternatives to sugar. The usage of these products is stringently monitored by food regulatory bodies to ensure safety of people’s health. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Intense Sweeteners Market, 2021-2028.” The report further states that several manufacturers are nowadays striving to introduce unique products containing intense sweeteners to cater to the high consumer demand. In January 2021, for instance, GoodSam Foods launched a new range of chocolates sweetened with allulose. The company aims to target customers looking for sugar-free components in confectionery.
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By product, the market for intense sweeteners is classified into sucralose, neotame, aspartame, acesulfame K, saccharin, and others. Based on region, it is divided into South America, Europe, Asia Pacific, the Middle East & Africa, and North America. By the product type, it is segregated into bakery products, beverages, dairy products, confectionery, and others.
The report aims to analyze the market for intense sweeteners by considering contributions, prospects, and trends. It offers detailed profiles of every key company operating in the industry to analyze their core competencies in each segment. Apart from that, it ensures to help our clients better understand the competitive developments, such as collaborations, new product launches, partnerships, mergers, joint ventures, and acquisitions.
Drivers & Restraints-
Rising Demand from Food and Beverages Industry to Boost Growth
The rising demand for low-calorie sugar substitutes across the globe is anticipated to propel the intense sweeteners market growth in the near future. This is mainly occurring because of the increasing prevalence of cardiovascular diseases, diabetes, and high blood pressure. As per a study conducted by JAMA Internal Medicine (2014), the consumption of sugar is relatively higher than the recommended amount in American adults. Hence, consumers are shifting rapidly towards sugar-free and healthy food items.
Intense sweeteners also have high sweetening power, which, in turn, is set to escalate their usage in the food and beverage industry. The British Nutrition Foundation declared that neotame and aspartame are 7000 and 200 times sweeter than sucrose, respectively. Also, the rising trust of people on these products because of regulatory approvals would propel growth. However, extended and unregulated usage of these sweeteners can often cause various side effects that can be harmful for health. This factor may obstruct demand.
Asia Pacific to Remain at the Forefront Backed by High Demand for Affordable Food
Geographically, Asia Pacific is expected to earn the largest intense sweeteners market share in the near future because of the increasing investment of companies to develop affordable food. This is mainly driven by the rapid population growth in emerging countries, such as India and China. At the same time, the rising per capita income of people and high demand for convenience food items would aid regional growth.
Additionally, rising consumer awareness in the region about the ill effects of sugar on health is expected to compel them to opt for alternatives, such as intense sweeteners to stay fit. On the other hand, North America and Europe are likely to show steady growth in the forthcoming years on account of the reduced sales of beverages in both regions.
Key Players Aim to Develop Unique Products to Attract Consumers and Increase Sales
The global market for intense sweeteners contains a large number of renowned manufacturers that are constantly focusing on research and development activities to launch novel products. This will help them to generate more sales, majorly through e-commerce. Below are the two latest industry developments:
- January 2019: Merisant introduced Sugarly Sweet™, its latest Amazon-exclusive brand of zero-calorie sweetener. It will help the company to reinvigorate the brand through innovations.
- November 2018: The Food Standards Australia New Zealand (FSANZ) approved the utilization of monk fruit extracts as part of intense sweeteners. It will result in the selling of more products infused with this ingredient in Australia and New Zealand.
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