LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global sweetener market report. This market research report also lists 17 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the global sweetener market is highly fragmented. Several players, large and small, international and domestic, are present in the market. These vendors compete based on various factors such as product differentiation, price, quality, distribution, and marketing. Most of the players have a vast geographic reach with large production facilities located across the world.
“There are also several small domestic players in China and India that dominate the market. Intense competition and rapid technological advancements are a source of significant risk factors to vendor operations. Therefore, to survive and thrive in this competitive scenario, it is essential for the players to differentiate their product offerings and services through a strong and unique value proposition,” says Manjunath Reddy, a lead food research analyst from Technavio.
The report also states that constantly changing consumer demands and preferences have influenced the market in terms of quality, product differentiation, and innovation, especially in the healthy lifestyle segment. The market is positively influenced by the economic well-being of the consumers that has resulted in increased disposable incomes, improved living standards, and altered spending patterns.
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Technavio market research analysts identify the following key vendors:
Archer Daniels Midland
Archer Daniels Midland (ADM) offers a wide range of sweeteners that are produced to meet the varying demands of different customers. It produces sugar, sucralose, monk fruit, and stevia. It had introduced high-fructose corn syrup (HFCS) to the beverage industry and is one of the leading producers of corn sweeteners. Its sweeteners are the ideal substitutes for different products and can be used in multiple applications. It also offers a complete line of dry sweeteners, sugar, blends, and more.
Cargill has established its presence in many regions in the sweetener market with its diversified range of products. It has implemented multiple inorganic growth initiatives that are aimed to improve its market position in the sweeteners segment. It offers non-GMO sweeteners and stevia-like sweeteners that are free of plant extracts. Stevia-like sweeteners are produced through fermentation that leads to the production of molecules that are found in stevia plants.
Ingredion operates in business segments such as packaged food and beverages, pharmaceuticals, brewing, personal care, and industrials. It produces and sells a wide variety of sweeteners for diversified industries. The company operates through three regions: the Americas, APAC, and EMEA. Ingredion offers a large range of sweeteners from specialty polyols to high-potency sweeteners to help a wide base of consumers and industries.
Roquette is one of the leading companies in the specialty-food-ingredients segment. Its core business includes food and nutrition, animal nutrition, and industrial application. Its products are made from natural materials like corn, wheat, peas, and more. The company produces highly complementary and varied substitutes to sugar. It also offers consumer friendly and clean-label sweeteners.
Tate & Lyle
Tate & Lyle has a wide variety of product offerings in the sweeteners market. Its portfolio includes sweeteners that contain zero calories, no added sugar. It also offers reduced-sugar sweeteners and sugar-free sweeteners that are used in food and beverages. It is one of the leading suppliers of sugar and sweeteners in Europe. It develops new ingredients to suit the latest dietary trends in the market.
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