According to a new study by TMR, the sales of low-intensity sweeteners is expected to reach ~US$ 1.6 Bn in 2019, and record a Y-o-Y growth of ~7% in 2020. Growth of the low-intensity sweeteners market remains driven by a slew of factors, which range from the rising demand for sugar-free products and changing regulations in the food and beverage industry, to growing awareness among consumers.
Low-intensity sweeteners come in different product types such as tagatose, xylitol, trehalose, isomaltulose, allulose, and others. Among the different product types, allulose low-intensity sweeteners are becoming popular, and this segment is expected to grow rapidly at a CAGR of ~9% over the period of 2019-2029.
Low-intensity sweeteners are used in various industries such as beverages, confectioneries, pharmaceuticals, and dairy products. The usage of low-intensity sweeteners is increasing rapidly in dairy products.
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Obesity usually occurs due to high intake of sugar, fats, and calories, and increases the risk of numerous health conditions such as hypertension, adverse lipid concentration, and type-2 diabetes. The North America region has traditionally shown the highest percentage of obesity in the world, with the number of adult and child obesity cases on the rise since the 1980s. For a healthy lifestyle, consumers prefer sugar-free and fat-free products. Health-conscious consumers are following proper diets and avoiding junk food and sweets. From youngsters to older individuals, all age groups are concentrating on exercising regularly and on weight management. Moreover, multiple gym chains, diet centers, and fitness centers are promoting the consumption of healthy food, dietary supplements, and other health products, which is further influencing consumers to opt for low intensity sweetener products. Manufacturers are launching low-intensity sweetener supplement products that provide the required nutrients without additional sugar content in the diet. Due to all these factors, the sales of low intensity sweetener products is growing.
Consumers prefer excellence in quality and service. Companies are investing in research & development to create unique and innovative low-intensity sweetener products with great quality. They are concentrating on adopting the latest technologies to maintain high-quality standards. Consumers choose brands with the best quality products. Consumers have various options in low-intensity sweeteners to choose from, and competition is increasing rapidly in the low-intensity sweeteners market. Consumers are ready to pay a good amount for high-quality low-intensity sweetener products.
Consumers’ interest in product quality and safety is seen in markets in developed and developing countries, specifically in countries in Europe and North America. Consumers are curious about the accountability of different raw materials used in low-intensity sweeteners. Increasing focus on the sources of raw materials is because of the high use of synthetic chemicals and pesticides in the agricultural sector in developing countries.
Stringent government rules and regulations on several ingredients hinder the growth of the low-intensity sweeteners to quite some extent. There are several regulatory bodies such as the Food and Drug Association (FDA) that have implemented regulations regarding the utilization of low-intensity sweeteners. All low-calorie sweeteners have to undergo several tests before the approval of the FDA, to provide safety to the population. Delays in approvals coupled with the rise in cost towards the introduction of new products are restraining the growth of the global low-intensity sweeteners market.
Some of the key players in the global low-intensity sweeteners market are Cargill Inc., Roquette Freres Company, Ingredion Incorporated, Matsutani Chemical Industry Co., Ltd., E.I. Du Pont de Nemours and Company, ZuChem Inc., Nova Green Inc., Foodchem International Corporation, Ecogreen Oleochemicals, and Gulshan Polyols Limited, among others.