(MENAFN- GlobeNewsWire - Nasdaq) Chicago, July 04, 2024 (GLOBE NEWSWIRE) -- According to MarketsandMarkets, the global low intensity sweeteners market size is estimated to be valued at USD 2.9 billion in 2021 and is projected to reach USD 3.6 billion by 2026, recording a CAGR of 4.6% in terms of value. The growth of the low intensity sweeteners market can be attributed to the rising awareness among consumers regarding the health benefits associated with low intensity sweeteners. North America region dominated the low intensity sweeteners market.
Key Players in the Market
Anderson Advanced Ingredients (US) ADM (US) Tate & Lyle (UK) Roquette Frères (France) Matsutani Chemical Industry Co., Ltd (Japan) Whole Earth Brands (US) CJ CheilJedang (South Korea) Samyang Corporation (South Korea)
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Based on application, the pharmaceutical & personal care products segment is projected to be the fastest growing during the forecast period. The growth is mainly associated with the functional properties of low intensity sweeteners which drive their application in pharmaceutical and personal care products. They are used as the key bodying agent in several pharmaceutical applications such as syrups, tablets, and elixirs.
Among various food applications, the confectioneries segment accounted for the major market share. Low intensity sweeteners are widely used in confectionery products for imparting blend of sweetness and extending their shelf-life. They also act as humectant and efficient plasticizer.
Among various form, the dry segment accounted for the major market share in the overall low intensity sweeteners market. The dominance of this segment is majorly attributed to the fact that dry low intensity sweeteners are comparatively easy to use during manufacturing processes.
Among various product types of low intensity sweeteners, sorbitol segment accounted for the major market share in the overall low intensity sweeteners market . Rising awareness regarding low calorie and healthy food and increasing health issues due to consumption of sugar are the major factors driving the growth of the segment.
North America dominated the global low intensity sweeteners market. The market in the region is highly diversified, and manufacturers are strongly focusing on the development of advanced technology processes to cater to the demand of its end users. The market for low intensity sweeteners is fairly matured in the region. It is largely driven by factors such as an increase in the prevalence of chronic diseases due to hectic lifestyles and rise in awareness among consumers regarding the health benefits of reduced sugar in food & beverage products.
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