Alternative sweeteners are broadly utilized as a substitute to sugar to sweeten and improve several foods & beverages. Also, these are utilized in lower proportions as their sweetness level is higher in comparison to regular sugar. Alternative sweeteners have a lower glycemic index that keeps the levels of insulin unaltered after consumption; thus, they are utilized as a low-calorie food additive.
During the forecast period, the global alternative sweeteners market is projected to be mainly driven by the rising number of patients experiencing lifestyle disorders like obesity, cardiovascular diseases, and diabetes. In addition, the rising preference for having a healthy lifestyle along with increasing need for low-calorie food products are also expected to surge the global market growth during the years to come. Moreover, the expansion of beverage market in developing as well as developed nations is also driving the market growth.
The global alternative sweeteners market can be diversified based on source, product type, application, and geography. By product type, the market is classified into high intensity sweeteners, high fructose syrup, and low intensity sweeteners. The market, by source, is bifurcated into synthetic and natural. The market, by application, is categorized into pharmaceuticals, food & beverages, and others. The food & beverage segment is sub-segmented into confectionery, bakery, dairy, beverage, and others.
Geographically, the global alternative sweetener market is projected to be dominated by North America during the forecast period owing to the rising need for natural sweeteners because of healthy food trend along with mounting alertness regarding the damaging impacts of excessive consumption of sugar. Asia Pacific is also anticipated to witness rapid expansion during the years to come. This region presents productive prospects for leading companies, due to the existence of a broad array of manufacturers and suppliers. Furthermore, rise in purchasing capacity, high economic growth rate, and changing food habits, like intake of low-calorie sodas & diet drinks, are factors projected to boost the regional market expansion.
Major players active within the global alternative sweetener market include Archer-Daniels-Midland-Company, Ajinomoto Co., Inc., DuPont Nutrition & Health, Cargill Incorporated, Ingredion Incorporated, GLG Life Tech Corporation, Tate & Lyle Plc., Naturex S.A., Associated British Foods Plc., and PureCircle Limited, among others. To cite, in Nov 2020, a high-purity, clean-label stevia, Bestevia Reb I, is added by SweeGen (a sweetener producer) to its natural sweetener portfolio. This novel glycoside is manufactured from the stevia leaf with a Conagen-developed bioconversion technology. The new inclusion is well-suited in a range of applications, comprising beverages, dairy, confectionery, nutrition bars, and savory products.
