Market Overview —
Increasing demand for the convenience food leads the low calorie sweeteners market. The market for convenience food has gained popularity in the growing work population. Low calorie sweeteners are used in different food & beverage products as a substitute of sugars, which helps to maintain the blood glucose level of diabetic patients. Additionally, the increased consumption of ready to eat food has uplifted the market of low calorie sweeteners. Use of artificial low calorie sweeteners is projected to dominate the personal & health care products. However, increasing population of health-conscious consumers has opened the doors for growth natural and plant derived low calorie sweeteners during the forecast period 2017-2023.
Low calorie sweeteners are expected to gain popularity as they help in lowering high blood pressure and maintaining the blood glucose level for diabetic patients. Additionally, massive increase in the use of ready to eat foods and regulatory laws driving the growth of the global low calorie sweeteners market. Increased acceptance of low calorie sweeteners as a substitute for conventional sugar has increased its application scope in the food industry. However, the use of artificial low calorie sweeteners is likely to hamper the market growth over the review period owing to growing preference of the population towards natural products.
All these factors will contribute to the estimated CAGR of 3.8% of low calorie sweeteners market during the forecast period 2017-2023.
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Artificial low calorie sweeteners segment is estimated to hold a major share of the global low calorie sweeteners market in the year of 2017. However, the use of natural low calorie sweetener is expected to witness a maximum growth rate during the forecast period 2017-2023 owing to the increasing consumer inclination towards the natural and plant based products. Among the applications, the food & beverage segment holds a major market share. However, it is expected that personal & healthcare products will witness a rapid growth in the forecast period 2017-2023.
The major key players in the Low Calorie Sweeteners Market
• Archer Daniels Midland (the U.S.)
• Tate & Lyle (U.K.)
• E. I. du Pont de Nemours and Company (the U.S.)
• Cargill Inc.(the U.S.)
• Ingredion Inc. (the U.S.)
• Celanese Corporation (the U.S.)
• NutraSweet (the U.S.)
The demand for substitute over the use of conventional sugar, and use of naturally derived low calorie sweeteners instead of artificial low calorie sweetener has boosted the market demand for natural low calorie sweeteners. This will bring a dramatic change consumption pattern among the consumers.
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The global low calorie sweeteners market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America holds the major share of the global market followed by Asia Pacific. Increasing healthy lifestyle and regulatory laws are driving the growth of this region. In Asia Pacific, China, and India are dominating the market.
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