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Market Analysis:Obesity is increasing at an alarming rate and has become one of the major health concerns worldwide. It leads to serious health concerns such as cardiovascular diseases, osteoarthritis, high cholesterol, osteoarthritis, sleep apnea, and respiratory problems. The growing concern among consumers regarding weight gain and obesity is accelerating the demand for low intensity sweeteners. They are considered to be a safe substitute for sugar as they are calorie-free and help in weight loss and management. However, long-term use of the product is not encouraged. The food and beverage industry has capitalized on the growing demand for low intensity sweeteners, and has launched several products over the years. For instance, Coca-Cola launched Diet Coke and Coke-Zero, which contain low amounts of sugar and low calories.
Youths in developing countries have become more health-conscious and therefore, the demand for low calorie, no/low sugar foods has increased manifold. Furthermore, countries such as India whose domestic consumption of sugar is high, alternative sweeteners are a healthier option than conventional sugar. Therefore, the demand for low intensity sweeteners is growing rapidly in emerging economies, specifically in China and India.
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The availability of the product in a variety of forms makes it convenient for consumers to use. Stick packs, packet form and tablet format are easy to carry and suitable for traveling. Majority of players have introduced the product in a variety of forms to attract potential customers. The usage of the product varies depending on the type of food and beverage they are used with, such as they may be used as sprinkler on fruits and or in hot and cold beverages. Additionally, companies operating in this market are focusing on expanding their operations across the geographies, augmenting its capabilities and investing in research and development to offer products with better functionality. Consumers in developing countries are keen on exploring new product range offered to them and form a large consumer base. For instance, Symrise NA has launched a new product SymLife Sweet, a series of flavors under their “Taste for Life Platform” that provides sweetness modulation solutions in a variety of food products. Similarly, Archer Daniels Midland Company has launched two new sweetener brands, “SweetRight stevia” and “VerySweet monk fruit”. Through this product launch, the company aims to strengthen its product portfolio.
Key Player Review:
The key players in the Global Low Intensity Sweeteners Market are Südzucker AG (Germany), Cargill, Inc. (U.S.), Ingredion (U.S.), Roquette Freres SA (France), Matsutani (Japan), Purecircle (Malaysia), Mitsui (Japan), Tate and Lyle (U.K), and NutraSweet Company (U.S.)
Market Segmentation:
The global low intensity sweeteners market is segmented into type and application.
By type, it is segmented into xylitol, tagatose, allulose, trehalose, iso-maltulose, and others. Among them, the trehalose segment holds the major market share. The launch of novel products with the use of trehalose is one of the significant factors for the rising demand for the products.
By application, it is segmented into bakery foods, beverages, confectionery, dairy & allied products, tabletop sweetener, pharmaceuticals, and others. Among all the segments, application of low intensity sweeteners in beverages is estimated to retain its dominance throughout the forecast period, owing to the high demand for sugar substitutes in beverage products.
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Regional Analysis:
Low Intensity Sweeteners Market is segmented into Europe, North America, Asia-Pacific, and Rest of the World (RoW). Among these, Asia-Pacific is estimated to retain its dominance throughout the forecast period, 2017-2023. The increasing consumer awareness and the demand for convenience food are some of the significant reasons for the growing use of low intensity sweetener based products in the Asia-Pacific market. However, North America is estimated to witness maximum growth in the global low intensity sweeteners market during the forecast period.
The major importers of low intensity sweeteners include Mexico, Germany, the Philippines, the U.K, and France. Furthermore, increasing consumer awareness and growing demand for low-calorie sugar substitutes have uplifted the demand for low intensity sweeteners in Asia-Pacific countries, such as India, China, and Japan, which is expected to boost the growth of the low intensity sweeteners market during the review period.
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