The global high intensity sweeteners (HIS) market size is estimated to be valued at USD 1.9 billion in 2017 and will register a CAGR of 4.1% between 2017 and 2027.
The need for high intensity sweeteners is soaring with significant demand from end-user applications. Its demand is not only increasing from food & beverages but also in personal care and pharmaceutical products. Increase in per capita income along with rise in consumer awareness has boosted overall sales of high intensity sweeteners. Many new startups emerged to capitalize th e market.
Globally, cyclamate and aspartame dominated the high intensity sweeteners market size – collectively accounting for USD 864 million in 2016. However, will lose 615 basis points. Stevia – a natural HIS, will gain 689 basis points over the forecast period to create an additional revenue opportunity of USD 341 million between 2017 and 2027. As of 2016, Ajimoto is the world’s largest manufacturer of aspartame with market share accounting nearly 38% in 2016. Ajimoto acquired aspartame business in 2000 from Monsanto at a deal of US$ 67m. The company supplies its product with trade name – Amino Sweet.
Among HIS, natural high intensity sweeteners market is witnessing significant traction. Multinational companies such as Nestle and CocaCola has launched various products in last few years pertaining to natural artificial sweeteners. For instance, Nestle brews its Nestea with stevia to cut back the sugar level for its consumers. Also, CocaCola family launched first of its kind Coca Cola ‘No Calories’ with artificial sweetener stevia. This is the first of its kind that company launched in Greece in May 2017.
Much of the stevia production is concentrated to China, Korea, Paraguay and Brazil. 78% of Stevia ingredient produced in Latin America is supplied to North America. Production of stevia has taken momentum post its approval from EU in 2011. Labor intensive projects is the only key challenge being faced by companies. However, few changes have been seen in the last few years. For instance, PureCircle is planning to vertical farm the stevia leaf. This is expected to cut down the operational expenses for the company and speedup the stevia growth.
Bekryl’s market research report, Global High Intensity Sweeteners Market Size Analysis and Industry Opportunity finds that Asia Pacific region accounted for 39% of global sales. Moreover, the region will gain 675 basis between 2016 and 2027 – creating an additional revenue opportunity of USD 600 million. Asia Pacific not only dominates the global high intensity sweeteners market size in terms of consumption but also in production. As per the estimates, China is the leading source for HIS production accounting for nearly 73% of global production. Low cost production has created favorable market in the region.
Much of the growth in Asia Pacific is expected to generate from China. China is expected to account for 41% of regional market in 2017 and will register a CAGR of 6.4% – higher than global average – to reach USD 588 million in 2027. ASEAN and India are other lucrative markets in Asia Pacific with high demographic population.
Though, over 73% of global artificial HIS is sourced by China, North America and Europe accounted for 46% of total high intensity sweeteners market consumption. North America trails behind Asia Pacific. The region ranks second – both in terms of consumption as well as production. While the region accounts for nearly 15% of global production, its consumption was 24% in 2016. As such, demand is met through import from China and Japan.
To know more about the industry and receive sample report, fill out the form available at: https://bekryl.com/industry-trends/high-intensity-sweeteners-market-size-analysis
Some of the key high intensity sweeteners market industry players are Ajinomoto Co., Inc., Anhui Jinhe Industrial Co., Ltd., PureCircle Limited, Archer Daniels Midland Company, Beijing Vitasweet Co., Ltd., Cargill, Inc, Zhejiang Sanhe Food Science & Technology Co., Ltd., Celanese Corporation, Changzhou Niutang Chemical Plant Co., Ltd., Suzhou Hope Technology Co., Ltd., Tate & Lyle PLC, Tianjin North Food Co., Ltd.,Gansu Fanzhi Biotech Co., Ltd., GLG Life Tech Corporation, Golden Time Chemical (Jiangsu) Co., Ltd., Guilin GFS Monk Fruit Corp., Hill Pharmaceutical Co., Ltd., Jiangsu SinoSweet Co., Ltd., JK Sucralose, Inc., Kaifeng Xinghua Fine Chemical Ltd., MAFCO Worldwide LLC, NutraSweet Company, PMC Specialties Group, Inc, Merisant Company, Ingredion Incorporated, Morita Kagaku Kogyo Co., Ltd., Wuhan Huasweet Co., Ltd., and Zhong Hua Fang Da (H.K.) Limited.
Company Name: Bekryl Market Analysts
Contact Person: Burke B.
Phone: +1 347 464 1068
Address:99 Wall Street, Suite 622
City: New York
Country: United States