Alternative Sweeteners Predicted To Reach US$870 Million In 2020

  • Friday, 03 March 2017 14:49
  • Published in Business News
  • Read 441 times

The market for alternative sweeteners is rapidly increasing and is predicted to reach US$870 million in 2020 after annual profits of 3.7 percent.

Alternative sweeteners in food production have taken over market share from beverage production.

The Fredonia Group, a research firm in Cleveland, revealed that the market is predicted to increase from 14 percent in 2015 to 15 percent in 2020.

A few factors which resulted in this demand are attributed to growth in food production, reduced demand in beverage production and consumer health concerns with using alternative sweeteners, especially in beverages. The demand for alternative sweetener from beverages is forecasted to fall under one quarter in market shares in 2020, down from holding one third of the market share in 2005.

Artificial sweeteners are substances used to replace sugar in food and beverages. Alternative sweeteners such as stevia, honey and xylitol are healthier options for consumers when taken in moderation.

Products such as stevia have a strong growth market, as they provide consumers with a variety of products without compromising on flavour. Consumers expect clean labelling in products and this affects market demand for healthier substitutes.

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