12 October 2020
Visiongain has published a new report on Alternative Sweeteners Market Report 2020-2030: Forecasts by Product (High-Intensity Sweetener, High Fructose Syrup, Low-Intensity Sweetener), by Application (Beverages, Dairy & Frozen Desserts, Bakery Goods, Alternative Sweeteners & Snacks, Pharmaceuticals & Nutraceuticals, Others), by Distribution Channel (Online and Offline). PLUS Profiles of Leading Alternative Sweeteners Companies and Regional and Leading National Market Analysis AND COVID-19 Recovery Scenarios.
Global Alternative Sweeteners market was valued at US$ xx billion in 2019 and is projected to reach at a market value of US$ xx billion by 2030. The increasing number of obese populations at global level is driving the demand of alternative sweeteners products. Sugar substitute products have demand among food and beverage manufacturers who are into producing soft drinks, powdered drink mixes, baked goods, candy, puddings, canned foods, dairy products, jams, and jellies.
COVID-19 Impact on Alternative Sweeteners Market
As a result of the pandemic situation, many countries have decided to go on complete lockdown for few months. This is one of the major factors of market slowdown in the second quarter of 2020. However, it has been expected that this market will have a V shape recovery. As a result of Covid 19, consumers spending toward healthy product has been increasing heavily. This is one of the major factors which will drive alternate sweeteners market in the last quarter of 2020 and in 2021.
Covid 19 has disrupted the global supply chain. Food and beverage industry have a high impact of supply chain slowdown. Alternative sweeteners are used in different food and beverage products. It has been observed that many food and beverage manufacturing units are facing low raw material availability issue.
Large Number of Diabetic Population at Global Level
As a result of food consumption habits, large number of people are suffering from diabetic problems. They are trying to incorporate a better diet plan into their daily life. It has been observed that, alternative sugar products have low calories value which can prevent diabetic problem and cut down obesity.
It has been observed that sugar substitute like stevia have several antioxidant properties which can help to fight diabetic diseases. However, antioxidant properties also control blood sugar levels during fasting and after meals, which improve satiety and decrease hunger. As a result of these feature, consumers are opting for alternative sweetener products in their daily food habits. Some of the safest alternative sweeteners for low calory diets are Stevia, Tagatose, Sucralose, Aspartame, Acesulfame potassium, Saccharin, and Neotame.
Demand from Food and Beverages Industries
Global food and beverage industry is increasing at a higher pace in last few years. As per the data of New Zealand based organization, “Plant and Food Research Institute”, Food and beverage market is growing with an annual growth of 5%. This market will reach US$ xx trillion by 2030. The demand for natural products and low calory products are major driver for this market growth. Alternative sweetener product types are major sources used in low calory food products which is boosting its global demand.
Furthermore, new product development in premium food and beverage segment will also create significant opportunity in sugar substitute product market. Key beverage manufacturer including Companies including Coca-Cola and Pepsico are working on development low calory products to increase their market share in premium and high cost product segment.
Demand of Alternative Sweeteners in Probiotic Product
Probiotics are live microorganisms which provide health benefits including improving or restoring the gut flora. Probiotic have usage in manufacturing ice cream, fermented milk product, probiotic cheese, and other diary applications. Companies are using stevia in probiotic product to increase its usefulness. This will create new opportunity in alternative sweeteners market growth.
Demand of Alternative Sweeteners in Low Carb Diet
Erythritol is one of the popular types of alternative sweeteners which has high usage in low-carb diet plans as a result of its zero glycaemic index level. However, it also has high usage as sugar alcohol. By understanding its potential, U.S. based company, “Ingredion Incorporated” has launched new sweetener product under the name, ‘Erysta’. It is made with erythritol polyol which has been undergone through fermentation process. The company claims that it is 70% as sweet as sugar.
Some of the companies profiled in the report include Archer Daniels Midland Company, Cargill Incorporated, Ajinomoto Co., Inc., DuPont Nutrition & Health, and Ingredion Incorporated.
In 2019, Cargill Incorporated has launched new range of cookie made with alternative sweeteners. It became popular under the brand name “Ever sweet”. Moreover, Ajinomoto Co., Inc. also introduced zero-calorie high intensity sweetener. It is manufactured with aspartame and vanillin. This company promote their zero calory product under “Advantame” brand name.
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Large numbers of companies are working on product innovation and development by understanding the growing consumer demand. It has been observed that launch of innovative products with formulated nutrients, healthy ingredients, and combination of liquid & solid flavors will boost the market growth in coming years.
22 October 2020
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