A new report by Transparency Market Research (TMR), titled “Non Sugar Sweeteners Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024” provides analysis of various factors promoting the growth of the global market. The growth exhibited by the market over the years is evaluated using industry-leading analytical tools. Porter’s five forces is conducted to gauge the bargaining power of buyers and suppliers, degree of competition, and threat of new entrants. The actionable insights thus provided in the report can form the basis of reliable forecasts regarding potential growth of the market between 2016 and 2024.
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The drastically changing patterns of lifestyle is the chief factor driving the global non-sugar sweetener market. In the last couple of years, the improving GDP and rising expendable income have allowed customers to indulge in unhealthy food habits. This, combined with the pandemic of sedentary lifestyle has become the root-cause of numerous chronic ailments. According to the World Health Organization, diabetes which is known as one of the most prevalent lifestyle disorder will become the 7th leading cause of deaths worldwide by 2030.
Considering the urgency the situation demands, healthcare institutions and professionals around the world are campaigning against obesity and encouraging to lose weight using natural methods. These factors collectively aided the rising intake of non-sugar sweeteners. As consumers around the world replace sugar owing to its fattening properties with non-sugar sweeteners, the demand for the same is poised to surge in the coming years.
The growing prevalence of diabetes and obesity are the key factors driving the global non-sugar sweeteners market. Both these conditions require patients to lose weight for better health, which can be achieved by eliminating the intake of sugar in any form from the daily diet. It has therefore resulted in an increasing number of people opting for non-sugar sweeteners.
The global non-sugar sweetener market currently offers two kinds of products namely synthetic and natural non-sugar sweetener. The natural non-sugar sweeteners include sorbitol, thaumatin, stevia, and tagatose. Similarly, the synthetic non-sugar sweetener segment consists of aspartame, saccharin, sucralose, and neotame. Consumers struggling with the sweet cravings while trying to shed a few pounds often end up opting for various sweet food products. They are therefore contributing to the demand, by using non-sugar sweeteners in baked products, confectionaries, beverages, and desserts. This will provide enterprises operating in the market with opportunities to capitalize on in the near future.
Regionally, North America holds dominance in the global non-sugar sweeteners market since the region witnesses a high prevalence of diabetes and obesity. Other lucrative regional markets are Asia Pacific, Europe, and Rest of the World.
Some of the prominent enterprises operating in the market are Danisco A/S, Zydus Wellness Ltd., Merisant Worldwide Inc., JK sucralose Inc., Roquette, Imperial Sugar Co., Dulcette Technologies LLC, Nutrasweet Co., and others.
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