Portland, OR, June 20, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global high-intensity sweeteners market generated $1.89 billion in 2020, and is projected to reach $2.92 billion by 2031, witnessing a CAGR of 3.7% from 2022 to 2031. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Ongoing developments and new applications in the food industry including dairy products & baked goods, rise in incidences of diabetes and obesity, and concerns about health and nutrition among the population drive the growth of the global high-intensity sweeteners market. However, decline in soft drink consumption in North America and Europe regions is expected to hamper the high-intensity sweeteners market growth. Contrarily, surge in the number of health-conscious consumers, especially in the developing economies, is expected to generate potential opportunities for the market during the forecast period.
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COVID-19 scenario:
- The outbreak of the COVID-19 pandemic led to have a negative impact on the growth of the global high-intensity sweeteners market, owing to halt in production and manufacturing of high-intensity sweeteners for a short term to comply with new government regulations to curb the spread of the disease.
- Owing to disruptions in the supply chain, lack of raw materials, and less manpower, it was difficult to continue the manufacturing process with full capacity during the lockdown period.
The report offers detailed segmentation of the global high-intensity sweeteners market based type, distribution channel, application, and region.
Based on application, the beverage segment held the largest market share in 2020, holding more than one-third of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is projected to register the highest CAGR of 4.0% from 2022 to 2031.
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Based on distribution channel, the offline segment held the highest market share in 2020, holding more than half of the total market share, and is expected to continue its leadership status during the forecast period. However, the online segment is estimated to register the highest CAGR of 3.9% from 2022 to 2031.
Based on region, Asia-Pacific is contributed to the highest share in terms of revenue in 2020, holding nearly half of the total market share, and is estimated to continue its dominant share by 2031. Moreover, the same region is projected to manifest the fastest CAGR of 4.1% during the forecast period. Other regions discussed in the report include North America, Europe, and LAMEA.
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Leading players of the global high-intensity sweeteners market analyzed in the research include Hyet Sweet, Tate and Lyle, Plc., Celanese Corporation, Cumberland Packing Corporation, Merisant, Ajinomoto Co., Inc., Hermes Sweeteners Ltd., JK Sucralose, Inc., Heartland Food Products Group, and Stevia First Corporation.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
