Low-calorie sweeteners are perceived as a healthy option and are gaining popularity as a suitable substitute to sugar. Consumers are progressively shifting to products with low-calorie sweeteners to reduce the risk of diabetes, obesity, and heart diseases that are associated with the excessive consumption of sugar. Tagatose is gaining traction as one of the most health beneficial sweeteners, on account of its low caloric content; tagatose is 92% as sweet as sugar, with comparatively only 32% caloric content.
The global tagatose market has witnessed substantial growth over the past few years, and this growth is expected to continue throughout the forecast period of 2019-2029. On the back of the above-mentioned factors, the global tagatose market is estimated to witness a steady CAGR of 4.7% during the forecast period.
Key Takeaways of Tagatose Market Study
- The confectionery and beverages segment is projected to exhibit a substantial growth rate in global tagatose market, owing to the higher demand for tagatose as a functional ingredient for beverage and confectionery products.
- The powder form of tagatose dominates the global tagatose market, and accounts for a higher volume and value share as compared to the liquid form. This is attributable to the higher utilization of powder tagatose as compared to the liquid form.
- The business to business segment is expected to emerge as a prominent segment in the global tagatose market, supported by the greater utilization of tagatose in the foodservice sector.
“Manufacturers in the tagatose market could gain substantial profits by targeting functional beverages and confectionery manufacturers to leverage the growing demand for low-calorie sweeteners for beverages and confectionery products. This has been identified as a lucrative prospect for manufacturers that aim to make the shift towards offering tagatose products directly to customers,” says a PMR analyst.
Tagatose Market: Competitive Landscape
The tagatose market is consolidated in nature, and primarily dominated by a small number of manufacturers. Players in the tagatose market are adapting their market strategies in accordance with the current trends in the market. Leading manufacturers are using strategies such as strategic collaborations, and are strengthening their supply chain with a focus on global expansion. Additionally, these companies are targeting the growing number of health-conscious consumers to further increase their consumer base.
Explore More Valuable Insights on Global Tagatose Market
Persistence Market Research, in its new report, offers an impartial analysis of the global tagatose market, presenting historical data (2014-2018) and estimation statistics for the forecast period of 2019-2029. The study offers compelling insights on the tagatose market, based on form (liquid, and powder), application (food and beverages, pharmaceuticals, personal care, and retail), and distribution channel (business to business and business to consumer), across seven regions.
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