The increasing urbanization, along with growing health concern of consumers is driving the growth of the global non-sugar sweeteners market. The increasing numbers of diabetic patients worldwide is another growth driver for the market. Among regions, North America held the largest market share in 2014; however Europe is expected to grow with the fastest pace during the forecast period.
Non-sugar sweeteners are the alternative to sugar with certain difference in properties, as compared to organically produced sugar. The patients of reactive hyperglycemia and diabetes are often advised by the doctors to replace their sugar based diet with non-sugar sweeteners. The sweet dish variants are increasing every year, and so are their consumers. The consumers prefer consuming sweet dish after their meals, between the short breaks in the office and schools, and also while travelling. The consumption of sweet dish, bakery items, and other prepared sweetened foods is increasing at a swift pace, among the lower and middle income groups globally, owing to their increasing disposable incomes. However, the diabetic cases are also increasing among this section of society, which is expected to boost the demand of non-sugar sweeteners in the global market.
According to the World Health Organization, the population of diabetic people is expected to increase from 171 million in 2000, to 366 million in 2030. In the American region, it is expected to increase from 33 million in 2000, to 67 million in 2030. Their number is expected to increase at more exorbitant rate in South-East Asia with 47 million in 2000, to 120 million in 2030. The macro-economic factors, such as increasing disposable income and up surging urbanization are the key factors responsible for the growing adoption and affordability of such sweeteners. The increasing attention of food and beverages industry towards diabetic patients is expected to propel the growth of the market, during the forecast period.
Europe is the largest bakery market globally, whereas Asia-Pacific is also emerging as a major market for bakery products, owing to its fast growing population. Several food and beverages manufacturers are investing highly in Asia-Pacific, which is also expected to increase the demand for non-sugar sweeteners in the region.
The global non sugar sweeteners market comprises large number of players creating a high degree of rivalry. The major players in the market include Cargill, Tate & Lyle, Archer Daniels Midland Company, Danisco, and Hermes Sweetener Limited.
News Courtesy: P&S Market Research