Alternative Sweeteners Market to Witness Robust Expansion throughout the Forecast Period 2023 – 2031

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

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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.

Leading 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 S.A., 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 conscious about product labels, and their purchasing decisions are influenced by the lack of sugars content in the product. This in turn, boosts the demand for alternative sweeteners.

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The report offers detailed segmentation of the global alternative sweeteners market based on product type, packaging, and region.

Based on product type, the high intensity sweeteners segment held the highest market share in 2020, holding nearly half of the total market share, and is expected to continue its leadership status during the forecast period. 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 nearly half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is projected to register the highest CAGR of 4.7% from 2022 to 2031.

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