According to the latest market report published by Future Market Insights titled ‚Naturally Derived Sweeteners Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028‘ , the revenue generated from naturally derived sweeteners has been valued at US $ 21,700 M n in 2018, which is projected to increase at a CAGR of 5.5% during the forecast period (2018-2028).
Consumer preference for low-calorie food & beverage products coupled with government support for the cultivation of stevia, lucuma, monk fruit are the major factors driving the demand for naturally derived sweeteners. Naturally derived sweeteners are still in the early stages of development and are released every year with multiple new entrants. Key players in the naturally derived sweeteners market are carrying out extensive R & D activities to formulate innovative products which can meet specific consumer demand. PureCircle Ltd. Has recently announced that the company is planning to roll out a new type of stevia leaf by 2020. So, the company has 72 granted patents related to stevia products and 200 are still pending.
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Naturally derived sweeteners such as stevia, monk fruit extract are used in various diet drinks available in the market. These naturally derived sweeteners have successfully proliferated in the food flavor space. Many new entrants are likely to cash in on the opportunity. Archer Daniels Midland Company (ADM) has launched two new naturally derived sweetener brands, SweetRight Stevia, and Very Sweet monk fruit, to the market in 2017. These two new products offer the unique and unique ingredients of stevia and monk fruit which are formulas approach sugar reduction goals.
Global naturally derived sweeteners market is driven by a shift in consumer preference towards healthy food and beverage products. As per World Health Organization statistics, the global population of obese people has been reached since 1975 and reached 650 million in 2016. The primary cause of obesity and a propensity to gain weight is due to an energy imbalance resulting from calories consumed and calories expended. As a step to fight against growing obesity, various governments have implied sugar tax to control per capita sugar consumption. With a reduction in sugar intake, it has been reduced by a reduced amount of sugar content in product composition and replaced with naturally derived sweeteners.
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The liquid form of naturally derived sweeteners is expected to continue to dominate the market in a forecast share with a revenue share of 43.3% in 2028 different formulations. By nature, organic-certified naturally derived sweeteners are estimated to have a 67.5% share in terms of value in 2018. Beverage factories are the largest buyers of naturally derived sweeteners in their brand portfolio incorporating novel naturally derived sweeteners to target health-conscious consumer groups. In terms of end use segment, the beverages segment is 39.4% in 2028 in the naturally derived sweeteners market.