MARKET OVERVIEW- GLOBAL LOW INTENSITY SWEETNER MARKET
A sweetener is a type of a substance which is added to food to give it the basic taste of sweetness. Typically, this chemical is referred to as a sugar alternative. Low-intensity sweeteners fall under the category of sugar substitutes that have zero or very few calories since they contain far less food energy than sugar-based sweeteners. Low-intensity sweeteners also assist in maintaining stable insulin levels after consumption. The market is being drive by expanding consumer awareness of healthier food options, increased demand for low intensity sweeteners in a variety of food and beverage applications, and increasing awareness about functionalities of low intensity sweeteners in the pharmaceutical industry is driving the demand market.
The global low intensity sweeteners market is driven by an increase in health consciousness among consumers, growing research and development activities to formulate and develop newer and advanced sweetening products and increase in demand for low intensity sweeteners in several food & beverage applications are some of the key factors accelerating the growth of the market globally. Changing lifestyle and health consciousness among population for consumption of different food products has created a rising demand for low intensity sweeteners in application products. With the adoption of low intensity sweeteners in products, it provides consumers to taste different food products without worrying about the calorie intake. The market significantly focuses on providing consumers with effective products and with health-benefiting properties in products. This factor is expected to contribute to healthy growth in the market. Likewise, the rise in the obesity population has certainly boosted the growth of the market.
The market is expected to have growing new growth opportunities with a rise in investment in R&D activities by the manufacturer to develop innovative and safer low intensity sweeteners. In this market, research and development plays a critical role in the production of products like sorbitol, maltitol, xylitol, allulose, among others. The investment in research and development certainly supports the production of precise low intensity sweeteners with low calorie content and constituents. Likewise, growth and diversification of low intensity sweeteners market application like food, beverages and pharmaceutical & personal care products is expected to create new market opportunity during the forecast period.
The global low intensity sweeteners market is expected to have market restraints like higher cost of production, ambiguity related to health problems due to the consumption of low intensity sweeteners among others. For example, allulose which is rare sugar that naturally occurs in fruits like figs and raisins. And as allulose is natural sweetener derived from the fruits thereby the cost of allulose can widely fluctuate depending on the price of these natural products. This factor is expected to create hurdler for the market growth during the forecast period.
MARKET GROWTH CHALLENGES
The major growth challenge for the market is high cost of low intensity sweeteners. Likewise, stringent regulation and quality standard for low intensity sweeteners is expected to be major growth challenge for the market.
CUMULATIVE GROWTH ANALYSIS
The report provides in-depth analysis of global low intensity sweeteners market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various low intensity sweeteners in various applications has led the increasing demand for market and is expected to witness the growth at a CAGR of 5.24% from 2021-2028.
LOW INTENSITY SWEETNER MARKET SEGMENTAL OVERVIEW
The low intensity sweeter market comprises of different market segment like type, form, application and geography.
LOW INTENSITY SWEETNER MARKET BY TYPE
By type, the low intensity sweetener includes key segment of
- Mannitol, Erythritol
The sorbitol segment is expected to dominate the market over the forecast period. Sorbitol is mostly derived from the wheat potato, and is used as a low calorie sweetener in different confectionery, candies, baked goods, diabetic jams, and nutritional bars, among others. Besides, sorbitol comprises 2.6 calories per gram, which can indeed be used as a low calorie sweetener. The increasing usage of sorbitol in different applications is expected to create ample new growth opportunities for the market. On the other hand, allulose is anticipated to witness growth at the highest pace over the estimated time period.
LOW INTENSITY SWEETNER MARKET BY FORM
By form, the low intensity sweetener includes key segment of
Dry is anticipated to lead the market, gaining the majority of the market share in 2021, and is expected to maintain its dominance over the estimated time period. The dry form is driven by various factors as the powdered form is mostly used as a raw material in food and beverage manufacturing processes. With the higher demand for products, the dry form acts as an effective yet convenient form for use in different applications. The dry is mostly providing the taste profile of low intensity sweeteners in product which is expected to create ample new growth opportunities for the market. Also, liquid form is expected to have growing demand in the market during the estimated time period.
LOW INTENSITY SWEETNER MARKET BY APPLICATION
By application, the low intensity sweetener includes key segment of
- Personal Care Products
Food applications are expected to dominate the market over the forecast period. The growing trends for food products with different tastes at a time with low calories in the products has certainly led to driving demand for the low intensity sweeteners market. Most of the obese population across the globe are likely to have health consciousness, which again acts as a growing new opportunity factor for market players to gain this consumer-based attention by providing low-calorie, low intensity sweetener products on the market. Besides, increasing innovation for adoption of different types like sorbitol, and erythritol, among others, has certainly boosted market growth. Also, an expanding market with new partnerships and product launches in the food industry are propelling the market. Also, pharmaceutical & personal care products are likely to have positive growth over the forecast period.
LOW INTENSITY SWEETNER MARKET BY GEOGRAPHY
By geography, the low intensity sweetener includes key segment of
- North America
Asia-Pacific is anticipated to witness an increasing demand for low intensity sweetener owing to the presence of well-established market players. The region is likely to have growth in the food and beverage industry at a rapid pace with changing consumer preference and obesity. Shifting trends for consumption of lower calorie sweeteners in products has fuel the market demand. Furthermore, increasing product availability for different applications with varieties of packaging has indeed gained consumer attention which has driven the market growth. Likewise, Europe followed by North America are contributing healthy growth in the market during the estimated time period.
COVID-19 IMPACT ANALYSIS ON GLOBAL LOW INTENSITY SWEETNER MARKET
COVID-19 is an incomparable global public health emergency that has impacted every industry, and the long-term impacts are expected to have an influence on industry growth throughout the forecast period. The exclusive COVID-19 pandemic impact analysis report by Axiom MRC provides a 360degree analysis of micro and macro-economic factors on the low intensity sweeteners market. In Addition, a complete analysis of changes on the low intensity sweeteners market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of low intensity sweeteners market is majorly focused on expanding the global growth of low intensity sweeteners with new product launches, partnership/ agreement and merger & acquisitions which has boosted the market growth at highest pace. Besides, presence of wide range of manufacturer operating in the market offers range of products in different application to fulfill the required demand has further contributed healthy growth in the market.
The key players studied in market are
- Ingredion Incorporated
- Anderson Advanced Ingredients
- Tate & Lyle
- Matsutani Chemical Industry Co., Ltd
- Whole Earth Brands
- CJ CheilJedang
- Samyang Corporation
- Daesang Corporation
- Hylen Co., Ltd
- Sweeteners Plus
- Fooding Group Limited
- SAVANNA Ingredients GmbH
- Foodchem International Corporation
- Apura Ingredients, Inc
- Saigon Nutri Food Co., Ltd
- Icon Foods
- Bonumose Inc
March 2021: Bonumose, Inc announced a strategic collaboration with NOVASEP for the development, design, fabrication, installation and start-up of a complete process line to produce High Purity Rare Sugars, including Tagatose and Allulose, in Virginia, USA.
July 2020: Whole Earth Brands Inc. had launched the new Whole Earth allulose baking blends. The launch is latest for Whole Earth, a brand that meet the needs of consumer looking to reduce or eliminate sugar from their diets. As more consumers turn to home baking for comfort, the Whole Earth is with these plant based, zero- calorie and sugar free baking solutions.