The new report by Expert Market Research titled, ‘Global High Intensity Sweeteners Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global high intensity sweeteners market, assessing the market based on its segments like types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
High Intensity Sweeteners Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 2.7%
|Market Size in 2020||USD 6.37 billion|
|Revenue Forecast in 2026||USD 8.24 billion|
|Growth Rate CAGR||2.7%|
|Major Players||Sinosweet Co., Ltd., Vitasweet Co., Ltd., Anhui Jinhe Industrial Co., Ltd., Cargill Inc.,
Ingredion, Incorporated, Celanese Corporation, Pure Circle, Tate & Lyle PLC and others.
High intensity sweeteners act as the alternatives for sugar as they contribute very little to negligible calorie content to the food items, while providing a sweeter taste than sugar. The increasing application of high intensity sweeteners in the food and beverage industry owing to the increasing demand for sugar-free products and rising awareness about the low-calorie content in high intensity sweeteners is driving the market growth.
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In addition to this, the increasing inclination towards health and fitness is further aiding the demand for high intensity sweeteners. Over the forecast period, the rising concerns about the increasing prevalence of obesity is likely to spike the demand for diet products containing high intensity sweeteners such as baked goods, jellies, and dairy products, among others. Geographically, North America accounts for a significant share of the market owing to the rising demand for diet sodas, sugar-free candies, and puddings, among others.
High Intensity Sweeteners Industry Definition and Major Segments
High intensity sweeteners are defined as the food additives which enhance the sweetness of food. It is much sweeter than table sugar but contributes fewer calories to the food as compared to sugar, which makes it a popular alternative to sugar. High intensity sweeteners are widely used as sugar alternatives in foods and beverages, which are usually marked as “sugar-free” or “diet”.
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The market has been segmented based on type into:
The product finds wide applications in the following:
- Health Care
- Tabletop Sweeteners
The regional markets for high intensity sweeteners include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
High Intensity Sweeteners Market Trends
The key trends in the high intensity sweeteners market include the thriving e-commerce industry, which is propelling the sales of high intensity sweeteners-based food and beverage products. The increasing competition between the major food and beverage companies is leading to progressive product innovations, thereby, propelling the demand for high intensity sweeteners.
During the forecast period, the increasing demand for high intensity sweeteners from the household sector, owing to the increasing inclination towards low-calorie desserts and baked products with sugar substitutes, is likely to be a crucial trend in the market. The market growth is anticipated to be supported by the increasing awareness about the benefits of high intensity sweeteners through social media and internet surfing.
Key Market Players
The major players in the market are Sinosweet Co., Ltd., Vitasweet Co., Ltd., Anhui Jinhe Industrial Co., Ltd., Cargill Inc., Ingredion Incorporated, Celanese Corporation, Pure Circle, and Tate & Lyle PLC, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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