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Plant-derived Sweetener Market Segmented By type such as Stevia, Yacon Syrup, Agave Syrup, Monk Fruit Sugar, Lucuma Fruit Sugar and Molasses Obtained in Liquid, Powder and Crystal Form
Plant-derived sweetener is a form of sugar, which is derived from plant parts such as fruits, leaves, and others. Plant-derived sweeteners contain low calories as compared to regular sugar. It is less harmful as compared to artificial sweeteners and contains low calories. Plant-derived sweetener is used as an alternative to sugar which helps to maintain sugar level.
Stevia-derived sweetener is one of the most popular plant-derived sweeteners in global market, it contains rebaudioside and stevioside compound which is sweeter and contain low calories. Health-conscious consumers are inclined toward plant-derived sweeteners due to it is derived from plant and less harmful.
Plant-derived sweetener is costly as compare to regular sweetener. Increasing prices of raw materials that are used in plant-derived sweetener production are expected to hamper the growth of global plant-derived sweetener market.
Increasing Demand for Natural Food Ingredients to Drive Growth of Global Plant-Derived Sweetener
Increasing awareness about healthy lifestyle consumer prefer naturally derived product which is not harmful to health. Plant-derived sweetener has gained popularity among the consumer in recent years owing to health beneficial properties is expected to propel the growth of plant-derived market.
Increasing demand for naturally derived food products among health-conscious consumers is expected to increase the uses of natural plant-derived sweeteners in food & beverages as well as other industries. Consumers prefer processed food and beverages premixes, which are convenient to prepare and require less time is expected to boost the growth of global plant-derived sweetener market.
Increasing Health Disorder Related to Artificial Sweeteners And High Calories Intake Is Expect to Drive Sales of Plant-Based Sweeteners Market
Health-conscious consumers led towards healthy and nutritious diets on account of avoiding fat content and high calories are expected to escalate the growth of plant-derived sweetener. Plant-derived sweetener is derived from plant parts that are not as harmful as compare to synthetic sweetener. The rising awareness about the adverse effect of artificial sweeteners is expected to escalate the demand for plant-derived sweeteners.
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Some of the key players in global plant-derived sweetener market are Tate & Lyle PLC, Cargill, Inc., Nestlé AG, Ingredion Incorporated, Archer Daniels Midland Company, Ajinomoto Co., Inc., Wilmar International Ltd., Symrise, The Truvia Company LLC, Roquette Frères, and others
Health-conscious consumers are inclined toward plant-derived products are expected to create opportunities for key players to develop plant-based sweeteners that are naturally derived. Key players are investing in research and development to introduce different plant-derived sweetener with different flavors.
The introduction of innovative food packaging techniques and advertisement techniques of plant-derived sweeteners in the market is expected to propel the growth of global plant-derived sweeter market.
The plant-derived market in Asia Pacific is expected to grow at the highest rate over the forecast period owing to increasing consumption of bakery and confectionery products in the region. Europe is expected to hold the largest share in the plant-derived sweetener market due to the presence of the leading market player of plant-derived sweetener in the region.
North America is expected to witness significant growth attributable to increasing demand from bakery products manufacturers in the region over the forecast period.
COVID 19 situation has impacted world economy as well as manufacturing industries. Food and beverage industry is expected to observe the aftermath of the pandemic as the key manufacturers operating in this industry are encountering low production.
Food processing industry will face issues regarding revenue generation, food safety guidelines, and logistic issues from sourcing of material to supplying food ingredients to end-users. Local markets, restaurants, and retail shops remain closed due to the spread of pandemic and government restrictions. Thus, plant-derived sweetener industries are expected to witness moderate impact in the near term of year.