Alternative Sweeteners Market Expected to Reach $ 6,687.6 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, Alternative Sweeteners Market by Product Type and Application: Global Opportunity Analysis and Industry Forecast, 2020-2031, the global alternative sweeteners market was valued at $4,156.7million in 2020, and is projected to reach $ 6,687.6million by 2031, growing at a CAGR of 4.5% from 2022 to 2031.

Alternative sweetener is widely used as an alternative to sugar to enhance and sweeten various food & beverages. Moreover, these are several times sweeter than regular sugar, and hence are required in lower concentration for sweetening the products. These are used as replacements to sucrose (sugar) due to their overall sweeter taste and low calorie content. Furthermore, as these sweeteners do not induce dental caries, they are widely used in foods. Furthermore, diabetics can eat these foods, as they keep blood sugar levels from rising and are low in calories. Obesity, diabetes, high blood pressure, and cardiac illnesses are all caused by excessive consumption of sugar-based items. Individuals' calorie intake is expected to be reduced if they use alternative sweeteners. As a result of their zero-calorie content, alternative sweeteners are thought to be an effective way to address the rising incidence of obesity and overweight in humans. Ace-K, a high-intensity sweetener, is one of the low-calorie sweeteners that the European Food Safety Authority (EFSA) and the Food and Drug Administration (FDA) is approved for use as a food additive. Furthermore, rise in number of diabetic patients and increase in consumer awareness increase the use of these sweeteners. However, food businesses' hasty adoption of alternative sweeteners to meet public demand has resulted in a slew of illnesses among consumers, including headaches, dizziness, rashes, bloating, nausea, diarrhea, and digestive issues. Furthermore, there is more doubt about the quick accumulation of negative effects over time, which could result in serious long-term disorders if consumed regularly. As a result, the aforementioned reasons are projected to discourage consumers from using alternative sweeteners.

The global alternative sweeteners market has witnessed significant growth, owing to ongoing developments and new applications in the food industry, including dairy products and baked goods. In addition, concerns about health and nutrition among the population drive the growth of the alternative sweeteners market. Moreover, stevia extract, a sweetener derived from the leaves of stevia shrub, is widely used by consumers apart from the monk fruit extract. Furthermore, surge in the number of health-conscious consumers especially in developing economies and increase in incidence of diabetes and obesity lead to changes in dietary habits of the consumers. Thus, alternative sweeteners have replaced sugar as a food additive to prevent these conditions. However, decline in soft drink consumption in North America and Europe is expected to hamper the growth of the global alternative sweeteners market.

The beverage segment accounted for more than 36.8% of the global alternative sweeteners market share in 2020. Furthermore, the demand for beverage industry is dependent on the consumption of alternative sweeteners through diet carbonated soft drinks and low calorie food. Moreover, recent government initiatives in countries such as the UK, which has imposed sugar tax on sugar-based soft drinks drive the market growth. Furthermore, the use of cyclamate sweetener has increased in diet beverages and food, especially in developing regions, such as Asia-Pacific and Africa, owing to increase in health awareness among the population. Moreover, sweeteners are regulated by the Food and Drug Administration (FDA) for use as a food additive, and are commercially used after receiving an approval from the Generally Recognized as Safe (GRAS), especially in Europe and North America.

The global alternative sweeteners industry is fiercely competitive, with companies investing much in marketing and product promotion. To penetrate the alternative sweeteners market, capture huge market shares, and build brand awareness; the key market players are utilizing new and innovative marketing and promotion strategies to promote their products globally.

The global alternative sweeteners market is segmented into product type, application, and region. On the basis of product type, it is classified into high fructose syrup, high-intensity sweetener, and low-intensity sweetener. Depending on application, it is categorized into food, beverage, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings Of The Study

• The high intensity sweetener segment was the highest contributor to the alternative sweeteners market in 2020 and is projected to grow at a CAGR of 3.7%.
• There is a continuous increase in the demand for low intensity sweetener in the developed regions such as North America and Europe and is projected to grow at a CAGR of 3.3% and 3.6% during the forecast period.
• Asia-Pacific is projected to exhibit rapid growth in the alternative sweeteners industry, owing to its economic development with a large population base, and is projected to grow at the CAGR of 5.1% from 2022 to 2031
• India accounted for the highest share with 5.1% in the Asia-Pacific alternative sweeteners market in 2020.
• The food segment accounted for 48.2% of global alternative sweeteners market share in 2020 and is expected to grow at a CAGR of 4.7%.

In terms of value, Asia-Pacific and LAMEA collectively contributed 69.0% share in the global alternative sweeteners market in 2020. The key players operating in the alternative sweeteners market are Ajinomoto Co., Inc., Archer-Daniels-Midland-Company, Cargill Incorporated, DuPont Nutrition & Health, GLG Life Tech Corporation, Ingredion Incorporated, Naturex S.A., Tate & Lyle Plc., PureCircle Limited, and Associated British Foods Plc.