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Natural Sweeteners Market to exceed USD 5.5 Billion by 2027 Globally |CAGR: 10%| UnivDatos Market Insights
Increasing cases of obesity especially among young children are the major driving factor for increased adoption of natural sweeteners as table sugar alternatives. For instance, as per WorldAtlas, in 2019, 38 million children below the age of five were either obese or overweight. . However, the proportion varies across different continents. .
Furthermore, natural sweeteners are sweeter than sugar and are fewer calories. Therefore, a very small amount of them is sufficient. .
COVID19 has resulted in a profound re-evaluation of the advantages and costs of Natural Sweeteners. The COVID-19 pandemic has caused disruption in the supply chain worldwide. This has had a profound impact on Natural Sweeteners. The rising spread of the virus led to strict lockdown restrictions across many countries around the globe. The supply chain and logistics were harmed as a result of the closing of borders across numerous countries. . It has resulted in significant disruptions to businesses and economic activities globally and is expected to have a short-term negative impact on the Natural Sweeteners market due to limited or non-availability of raw material transport and disruption in service providers. This aspect led to a decrease in the growth rate of the natural sweeteners market.
The food and beverage industry, on the other hand, was excluded from the lockdown limitations. As a result, there were only minor growth hiccups during the rigorous lockdown period.
Global Natural Sweeteners Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
Based on type, the global market is fragmented into stevia, sorbitol, xylitol, mannitol, erythritol, sweet proteins, and other types. The Sorbitol segment dominated the market with a share of 48% in 2020 and is expected to maintain its dominance during the forecast period owing to its varied functional properties such as helping in maintaining shelf life, appearance, the texture of foods, offering medicinal qualities, and helping in retaining moisture.
Further based on application, the market is fragmented into bakery products, confectioneries & gums, spreads, beverages, dairy products, frozen desserts, tabletop sweeteners, pharmaceutical products, and others. In 2020, confectioneries & gums accounted for a maximum market revenue share of 33% and is expected to remain dominant during the analyzed period owing to low cost, readily available, and easy use during processing.
Based on end-users, the market is fragmented into food & beverages, pharmaceutical, direct sales, and others. In 2020, the food & beverage segment accounted for a maximum market revenue share of 83% and is expected to remain dominant during the analyzed period owing to the growing demand from end consumers resulting in a shift among manufacturers for the choice of their ingredients in the food & beverage sector.
Based on the estimation, the Asia-Pacific region dominated the Natural Sweeteners market with almost US$ 1.3 billion in revenue in 2020 on account of the rising health among consumers which results in an increased demand for healthy products. As consumers are becoming more health-conscious, the demand for low sugar drinks and low-calorie content is increasing.
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Natural Sweeteners market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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