According to a new market report published by Credence Research “Global Natural Alternative Sweeteners Market Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the Natural Alternative Sweeteners market is expected to expand at a CAGR of 5.2% from 2017 to 2025.
Sweeteners are a group of chemicals which possess the ability of stimulating the taste receptors without releasing calories of sucrose into the human body. The natural alternative sweeteners market is witnessing significant growth owing to rise in diabetic and diet-conscious consumers. Changing health trends has led to products reformulation so as to lower sugar content without compromising with the sweet taste.
The market is witnessing rapid growth owing to its health benefits such as high protein and low calorie content. Rising health-consciousness among consumers have forced players in confectionery and breakfast food industry to rethink over the nutritional value of products. Therefore, industry players are undergoing various expansion and joint venture strategies to expand entire sweetener market across multiple food and beverage applications For instance, industry giants such as PureCircle and GLG Life Tech, have adopted a major business strategy by partnering with major players to market blended reduced calorie products. Apart from this, PureCircle partnered with U.S. sugar giant, Imperial Sugar, and formed a strategic joint venture named Natural Sweet Ventures. This joint venture further helped in launching and marketing a retail stevia sucrose product “SteviaCane” for household consumption. Furthermore, continuous research and development in order to satisfy growing consumer demand for antioxidants and natural ingredient products has created new opportunities for plant based sweeteners such as stevia and monk fruit over the forecast years.
The natural alternative sweetener market is categorized by the presence of few major manufacturers. Key players are engrossed in luring distributors with profitable margins so as to strengthen their partnership across the value chain. Furthermore, online marketing has further raised awareness among consumers and has helped in strengthening the supply chain especially in emerging countries such as Brazil and Russia. Few key players operating in the market include Cargill Inc., Stevia Corporation, GLG Life Tech Corporation, Pure Circle, Inc. and Imperial Sugar Company among others.