LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global zero-calorie sweetener market is projected to grow to USD 2.84 billion by 2021, at a CAGR of more than 4% over the forecast period.
This research report titled ‘Global Zero-calorie Sweetener Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The rising health awareness among consumers is resulting in rising adoption of zero-calorie sweeteners. The availability of these sweeteners in various forms such as packets, spoons, tablets, liquids, creamers, and sticks is further pushing the growth of the global zero-calorie sweeteners market.
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Based on product, the report categorizes the global zero-calorie sweetener market into the following segments:
The top three revenue-generating product segments in the global zero-calorie sweetener market are discussed below:
“Sucralose is the most popular product offering in the global zero-calorie sweetener market, generating over 30% of the total revenue. The expiry of the sucralose manufacturing patent is creating opportunities for new market players,” says Manjunath Reddy, a lead analyst at Technavio for food research.
Sucralose is the most preferred sweetener among consumers since it tastes like sugar and is perceived positively. Thus, the reduction in sucralose cost coupled with the aggressive pricing strategies employed by vendors is creating new growth for the market segment.
Aspartame is one of the most commonly used artificial sweeteners in the food and beverage industry. The product is around 200 times sweeter than sugar and is commonly used in diet soft drinks, breakfast cereals, desserts, and chewing gum. It also finds applications as a tabletop sweetener. This sweetener tastes like sugar with no bitter aftertaste and is relatively more affordable in comparison to other sweeteners. The market segment will continue to grow slowly over the forecast period, but its market share is likely to show a slight decline owing to the rising popularity of sucralose.
“Saccharin is about 300 times sweeter than sugar, is heat stable, has a long shelf life, and is relatively cheap to produce. It is mainly used in candies, cookies, medicines, and toothpaste, often in combination with other sweeteners,” says Manjunath.
Saccharine has a metallic aftertaste which is generally not liked by the consumers, pushing manufacturers to use it in blends, particularly with cyclamate, to mask its undesirable aftertaste. Saccharine has a large potential for growth in emerging market where the other popular sweeteners have not been completely accepted.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Cumberland Packing
- Tate & Lyle
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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