The Alternative Sweeteners Market is expected to grow at a CAGR of 4.5% during the forecast period 2031

alternative sweeteners market 1

Increase in new applications of alternative sweeteners in the food industry and increase in demand for low calorie sweeteners are driving the market growth.

PORTLAND, OREGON, USA, July 16, 2022 /EINPresswire.com/ — The Global alternative sweeteners market generated $4.1 billion in 2020 and is expected to reach $6.6 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031. The report provides a detailed analysis of the changing dynamics of the market, major segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Increase in new applications of alternative sweeteners in the food industry and increase in demand for low calorie sweeteners is driving the growth of the global alternative sweeteners market. However, declining consumption of soft drinks in North America and Europe is restraining the market to some extent. On the other hand, the increase in the obese population, especially in developing countries, presents new opportunities in the coming years.

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The major players of the global alternative sweeteners market analyzed in the research include Ajinomoto Co., Inc., Archer-Daniels-Midland-Company, Cargill Incorporated, DuPont Nutrition & Health, GLG Life Tech Corporation, Ingredion Incorporated, Naturex SA, Tate & Lyle Plc., PureCircle Limited and Associated British Foods Plc.

COVID-19 scenario:
The outbreak of the COVID-19 pandemic has had a positive impact on the overall growth of the global alternative sweeteners market.
Since the pandemic, people have become more aware of product labels and their purchasing decisions are influenced by the lack of sugars in the product. This, in turn, is driving the demand for alternative sweeteners.
The report offers a detailed segmentation of the global alternative sweeteners market on the basis of product type, packaging, and region.

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Based on product type, the high-intensity sweeteners segment held the highest market share in 2020, holding almost half of the total market share, and is expected to maintain its leading status during the period. forecast. However, the low-intensity sweeteners segment is estimated to register the highest CAGR of 5.7% from 2022 to 2031.

Based on packaging, the food segment held the largest market share in 2020, holding almost half of the total market share, and is expected to maintain its leading status during the forecast period. Moreover, the same segment is expected to register the highest CAGR of 4.7% from 2022 to 2031.

Based on region, Asia-Pacific contributed the highest share in terms of revenue in 2020, holding nearly half of the total market share, and is expected to maintain its dominant share by 2031. Moreover, the same region is expected to manifest the fastest CAGR of 5.1% during the forecast period. Other regions covered in the report include North America, Europe and LAMEA.

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