Country-Niche Players Dominate the Market Holding nearly 40% of Revenue Share Despite the Presence of about 300 Competitors Comprising Global Players, Regional Players, and Country-Niche Players find a recent market study on the Global Natural Sugar Substitute Market by Ken Research
Natural sugar substitutes also called “artificial sweeteners” or “non-caloric sweeteners” are plant-based substances that are used to enhance the flavor of food or beverage products. It offers a similar flavor and texture as conventional sugar but contains fewer calories and is considered a healthier alternative to sugar.
Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.
1. Regional players comprise ~30% of the Total Number of Competitors and hold ~30% of the Total Market Revenue
A comprehensive competitive analysis conducted during the Research Study found that the Global Natural Sugar Substitute Market is highly competitive with ~300 players which include globally diversified players, regional players as well as a large number of country-niche players who have their niche in the Natural Sugar Substitute Market. The global players comprise ~5% in terms of the number of companies and hold about 30% of the market share. Key players in the market are focused on introducing new natural sugar substitute products and are engaged in research and development activity for the development of new natural sugar substitutes to gain significant market share.
2. Leading Players’ Ongoing Efforts Engaged in Collaboration to Expand its Business
Detailed comparative analysis of key competitors available within the Research Study shows that key players such as Cargill, Incorporated, Ingredion, and Tate &Lyle among others are highly focused on providing new natural sugar substitutes to end users and end industries. Furthermore, natural sugar substitute manufacturers are using new and advanced technology and are engaged in strategic developments such as collaboration, expansion, acquisition, product, launch, and others to strengthen their business.
- In March 2022, Cargill, Incorporated launched a platform where they combined its ClearFlo technology with EverSweet sweetener, which allowed the company’s sweetener to be combined with other natural flavors. The new platform offers advantages like improved solubility, faster dissolution, stability in formulation, and flavor modification. The new launch helped the company in expanding its product portfolio and lure more customers from the beverage industry.
- In September 2021, Ingredion Incorporated signed an exclusive agreement with S&W Seed Company, an integrated agricultural seed technology company. Under the agreement, S&W Seed Company will provide high-quality, USA-sourced stevia plants to Ingredion. The company aimed to procure unique, non-GMO, all-natural stevia varieties to manufacture high-quality natural sugar substitutes.
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3. Increased Government Initiatives Promote Natural Sugar Substitute Market Growth and Development
Governmental bodies and other organizations have adopted various initiatives globally to reduce the consumption of sugar, which ultimately boosts the demand for natural sugar substitutes.
- The National Salt and Sugar Reduction Initiative (NSSRI), is a partnership between organizations and health authorities in the USA. Under the initiative, voluntary targets for the reduction of salt and sugar were laid for food and beverage companies. In February 2021, the initiative released its target for reduction across 15 food and beverage categories.
- In September 2021, World Health Organization (WHO) has chosen the UK to lead a new Sugar and Calorie Reduction Network. The UK agreed to use its expertise in domestic sugar and calorie reduction to support its EU neighboring countries. The aim is to encourage food & beverage manufacturers to reduce sugar content in products high in, salt and sugar (HFSS), to control the global rates of obesity.
For more information on the research report, refer to the below link:-