Novel sweeteners are being widely used in processed foods and beverages. Novel sweeteners are consumed on large scale, hence manufacturers of the novel and artificial sweeteners are focusing on increasing production using standard extraction process.
Food processing companies have started adding sugar-free and low-calorie alternatives with the increase in health consciousness among consumers. Researchers are working on identifying benefits of artificial sugar. Meanwhile, the low calorie sweeteners are being increasingly consumed, owing to the increasing health concern. There involves a standard extraction process for sweeteners, and companies across the globe have patent extraction processes.
High-intensity sweeteners are being commonly used as it is sweeter than sugar and also offers very less or no calories. High-intensity sweeteners are being widely used in food and beverages labeled as ‘sugar-free’ or ‘diet’.
On the basis of scientific evidence, the Food and Drug Administration (FDA) has approved various high-intensity sweeteners safe for consumption under certain conditions. Major market players are also increasingly investing in non-calorie sweeteners, along with the focus on cost optimization and process standardization.
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- Allied Biotech
- Chr. Hansen
- Cyanotech Corporation
- DDW The Color House
- Doehler Group
- EID Parry
- Farbest Brands
- FMC Corporation
- Guangzhou Leader Bio-Technology
- Kemin Industries
- Royal DSM N.V.
Stevia Extracts to Emerge as the Top-Selling Product in the Global Market for Novel Sweeteners during 2017-2026
Compared to the other novel sweetener products, stevia extract is expected to be one of the top-selling products. By the end of 2026, stevia extract is estimated to rake in more than US$ 768.9 million in revenues. Stevia is considered ‘no calorie’, i.e. it contains less than five grams of carbohydrate. It also helps in weight control, reducing the risk of pancreatic cancer, blood pressure, and allergies. Also, FDA has recognized purified steviol glycosides as Generally Regarded as Safe (GRAS) for consumption. Consumers are also consuming stevia extract either in liquid or powder form on a large scale.
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Food and Beverages Industry to Emerge as the Largest User of Novel Sweeteners
Food and beverages industry is likely to emerge as the biggest user of novel sweeteners. Food and beverages industry is estimated to exceed US$ 822.3 million revenue towards 2026 end. With the rise in fitness trend, food and beverages industry has also started using novel sweeteners, especially stevia in baked food products, syrups, beverages and other food products. Moreover, novel sweeteners enhance flavors of various foods.
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Novel Sweeteners to Find Largest Application in Beverages during the Forecast Period
Novel Sweeteners are likely to find the largest application in beverages between 2017 and 2026. Beverages are projected to bring in more than US$ 234.6 million in revenues by 2026-end. Consumption of sugar-sweetened beverages has been associated with negative health outcomes. Hence, increasing number of consumers are moving towards consuming beverages containing novel sweeteners. Popular soft drink brands have also started replacing sugar with sweeteners in their drinks to attract more people.
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APEJ to Dominate the Global Market for Novel Sweeteners
Asia Pacific Excluding Japan (APEJ) is likely to remain dominant in the global market for novel sweeteners during the forecast period. Geographical expansion and increasing investments by key players is driving the market growth in APEJ. Increasing awareness about sugar consumption is also fueling the growth in India and China. Manufacturers are also focusing on developing new products using novel sweeteners to meet the increasing demand for low calorie food.
The prominent market players in the global novel sweeteners market are Royal DSM N.V., Kemin Industries, Guangzhou Leader Bio-Technology, FMC Corporation, Farbest Brands, ExcelVite, EID Parry, Doehler Group, DDW The Color House, Cyanotech Corporation, Chr. Hansen, BASF, AquaCarotene, Allied Biotech, and Algatechnologies.
Global Novel Sweeteners Market- Segmentation