Naturally Derived Sweeteners Market to Expand with a CAGR of 5.3% by 2024 Owing to Shift in Consumer Preference
According to a recent report published by Fast Market Research, titled, Global Naturally Derived Sweeteners Market: Market Size, Trends, Opportunity, Forecast 2014-2024, the global naturally derived sweeteners market accounted for USD XX Million in 2018 and is estimated to reach USD XX.X Million by 2024. Moreover, it is anticipated to flourish at a CAGR of 5.3% during the forecast period i.e. 2019-2024.
The global naturally derived sweeteners market has been segmented based on form, product, nature and end-use. Based on the form, this market has been segmented into powder, liquid and crystal. In form segment, liquid accounted for highest market share in 2018 and is anticipated to continue its dominance during the forecast period. Further, factors such as convenient as compared to other forms is one of the major reasons for high market share of liquid segment. However, natural sweeteners such as stevia are witnessing high demand across world which is likely to boost the growth of powder form of naturally derived sweeteners market.
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In nature segment, organic naturally derived sweeteners market captured significant share of overall market in 2018. Further, this segment is anticipated to grow at faster rate as compared to other sub-segments. This can be attributed to increasing awareness regarding organic labelled products. Addition to that, global naturally derived sweeteners market by nature has been segmented into conventional naturally derived sweeteners.
Change in Consumer Preference
Shifting consumer preference towards foods & beverage containing natural ingredients is anticipated to positively impact the growth of global naturally derived sweeteners market. Furthermore, rising concerns towards health problems such as obesity and others is likely to increase the adoption of naturally derived sweeteners in the years ahead.
Wide Range of Application of Naturally Derived Sweeteners
The future growth of naturally derived sweeteners market is anticipated to be driven by growing use of naturally derived sweeteners in various applications. Various natural sweeteners manufacturers are focusing on diversifying their product portfolio which bodes well for the growth of global naturally derived sweeteners market. Further, focus on research & development activities is likely to increase in the years ahead. This factor is envisioned to bolster the growth of market.
In terms of geography, the naturally derived sweeteners market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America accounted for the major share of the global naturally derived sweeteners market. Moreover, Europe naturally derived sweeteners market is expected to showcase lucrative growth in the upcoming years. U.S., Germany and United Kingdom are some of the major countries witnessing the augmenting demand for naturally derived sweeteners market.
The report also covers detailed competitive analysis of major market players of the global naturally derived sweeteners market, such as Tate & Lyle, Cargill Inc., E. I. du Pont de Nemours and Company, Archer Daniels Midland Company, PureCircle Limited, SweeGen Inc., Wisdom Natural Brands, Merisant Company, Evolva Holding SA, GLG Lifetech Corporation and other key & niche players. The naturally derived sweeteners market is witnessing a wide range of industry activities such as product launch, acquisition, mergers, and expansion across the globe.
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