Novel Sweeteners Market

Novel Sweeteners Market is expected to reflect a CAGR of 5.2% by 2026
Increasing preference for consuming sugar-free and low calories food products has led to surge in
demand for sweeteners in the food and beverage industry. In addition, growing prevalence of
diabetes and obesity is further expected to impact growth of the global novel sweeteners market
positively. Persistence Market Research states that the global novel sweeteners market is expected
to reflect a CAGR of 5.2% during the forecast period 2017-2026.
Growth of the global novel sweeteners market is mainly bound to various macro-economic and
micro-economic factors. As the preference for sugar free food products among the obese and
diabetic patients remains high, manufacturers in the food and beverage industry are increasingly
opting for sweetener. In order to expand their customer base, the leading food companies are also
concentrating on developing sugar free confectionery products such as chewing gums, desserts, and
chocolates. In addition, the European Food Safety Authority (EFSA) has cleared range of sweetener
products available in the global market. Moreover, the EFSA has also approved the health claims
made about various sweetener products related to controlling blood sugar levels and oral health.
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According to a recent report of CDC, more than 36.5%, which is over one-third of the adults in the
U.S. are obese. Moreover, the CDC report also states that over 100 million of the adults in the U.S.
are currently living with pre-diabetes and diabetes. Increasing prevalence of diabetes and obesity
globally has led the customers to opt for low-calorie and sugar free products.
Growing prevalence of diabetes and uncontrollable blood sugar levels has led to reduced
consumption of sugar products. As the need for consumption of the sugar-based products continues
to remain high, manufacturers are increasingly launching artificial sweetener products. As leading
food and bakery companies are focusing on offering diabetic products, demand for sweetener
products continue to remain high in the food and beverage industry globally.
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On the other hand, various factors will continue to inhibit growth of the global novel sweeteners
market significantly. Increasing consumption of sweetener products can cause colitis and lead to
severe case of diarrhea. Growing prevalence of colitis and diarrhea due to increasing consumption
of sweetener will continue to dip sales of sweetener products globally. In addition, various
sweetener products have not been approved by the FDA for launch in the global market. These
factors will continue to hinder growth of the global novel sweeteners market during the forecast
period.
As manufacturers prefer opting for FDA approved products for manufacturing the sweeteners,
demand for stevia extracts are expected to remain high. On the basis of product type, the stevia
extracts segment is expected to represent the highest revenue growth, accounting for a value of over
US$ 768.9 Mn by the end of 2026. In contrast, the tagatose product type segment is expected to
register a robust CAGR during the forecast period.
Based on end users, the food and beverages segment is expected to generate a significant revenue,
recording a value of over US$ 528.3 Mn by the end of 2017. On the other hand, the pharmaceuticals
end users segment is expected to register the fastest growth in the global market throughout the
forecast period.
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By application, the beverage segment is expected to represent a robust revenue growth, accounting
for a value of over US$ 234.6 Mn by the end of 2026. Further, the sweet spreads application
segment is expected to register a significant CAGR during the forecast period.
Leading market players operating in the global novel sweeteners market include Algatechnologies,
Allied Biotech, AquaCarotene, BASF, Chr. Hansen, Cyanotech Corporation, DDW The Color
House, Doehler Group, EID Parry, ExcelVite, Farbest Brands, FMC Corporation, Guangzhou
Leader Bio-Technology, Kemin Industries and Royal DSM N.V.
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Novel Sweeteners Market