Market Synopsis

Market Research Future (MRFR) ascertains in its latest report that the global alternative sweeteners market size is lurching ahead vigorously to attain the valuation of USD 1.58 billion by end of 2023. The market will be growing at a rate of 5% during the forecast period (2017-2023).

Market Drivers and Barriers

The growth of the alternative sweeteners market has been phenomenal, owing to the increasing application of sweeteners in foods, as they provide health-based benefits to the customers. Due to the busy and changing lifestyle of consumers, the preference has shifted towards healthy foods and ingredients. Moreover, the trend for low as well as no-sugar items has extended well beyond just diet and light soft drinks, and to sweets, desserts and yoghurts, diabetic-friendly baked goods, as well as sugar soups, sauces and ketchup.

A growing number of parents across the globe are concerned regarding the amount of sugar intake by their children, thus, they are driven to opt for sweet alternatives which do not contain any artificial ingredients. Hence, they are going for products such as honey, stevia extracted sugar, etc. Furthermore, the alternative sweetener market position is elevated by the growing cases of diabetic patients around the world coupled with the increasing obesity cases, especially in the United States (US). Also, the accelerated demand for low calorie diet without compromising on the sweetness of the food is instrumental in the growth of the alternative sweeteners market.

As per statistics, almost 23 million US citizens were afflicted with diabetes in the year 2015, driving the demand for the alternative sweeteners. Market giants such as Zydus Wellness Ltd., Cargill, and others are predicted to stress on the development of new and healthy sweetening alternatives. In addition, with customer engagement in mind, numerous companies are investing massively in the marketing activities as well as advertising campaigns, in a bid to expand their customer base.

To get more info: https://www.marketresearchfuture.com/press-release/alternative-sweeteners-industry

Market Segmentation

The market for alternative sweeteners is segmented on the basis of product type and application,

Based on the product type, the market has been segmented into artificial sweeteners, natural sweeteners, and others. Among these, the artificial sweeteners segment is projected to hold the maximum market proportion, set to surge at a CAGR of 5.10% during the forecast period (2017-2023).

Depending on the application, the market is segmented into sweet snacks, bakery confectionery, dairy frozen desserts, alcoholic beverages, non-alcoholic beverages, and others. Among all, the non-alcoholic beverages segment dominates the total market, expanding at a CAGR of 5.28% during the review period.

Regional Outlook

The global alternative sweeteners market is spread across the key regions of Europe, Asia Pacific, North America, and Rest of the World.