The new report by Expert Market Research titled, ‘Asia Pacific Natural Sweeteners Market Size, Share, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the Asia Pacific natural sweeteners market, assessing the market based on its segments like intensity, type, application, distribution channel, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 520.32 million (Global Stevia Market)
- Forecast CAGR (2023-2028): 8.4% (Global Stevia Market)
- Forecast Market Size (2026): USD 844.20 million (Global Stevia Market)
The Asia Pacific region leads the globe in stevia production with over 87 percent of total stevia production. China is the region’s leading stevia producer, accounting for roughly 91 percent of the region’s total stevia production. It has a large customer base that adds to its domestic market. Japan is one of the largest stevia consumers in the world.
In Japan, stevia accounts for over 40% of the entire sweetener market share. Stevia is an intense natural sweetener and is thus commonly used in popular soft drinks like Pepsi True and Coca-Cola Life, as well as baked goods, sweets, and other culinary products.
Industry Definition and Major Segments
A natural occurring sweetener found in plants and other sources is called natural sweetener. It is not manufactured in a lab. Natural sweeteners are metabolised and changed as they transit through the body. They also contain calories and nutrients. Agave nectar, brown rice syrup, date sugar, honey, maple syrup, molasses and blackstrap molasses, sorghum syrup, and stevia are just a few of the ingredients.
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On the basis of intensity, the market is segmented into:
- High Intensity Sweeteners
- Low Intensity Sweeteners
Based on type, the market is divided into:
- Stevia
- Maple Syrup
- Raw Honey
- Molasses
- Coconut Sugar
- Others
The major applications include:
- Food
- Beverages
- Pharmaceuticals
- Personal Care
- Others
On the basis of distribution channels, the market is segmented into:
- Hypermarkets/Supermarkets
- Convenience Stores
- Retail Stores
- Online Retailers
- Others
The major regions include:
- China
- Japan
- India
- Korea
- Others
Market Trends
The Asia Pacific natural sweeteners market is being propelled by customer concerns about their health, which has resulted in a higher demand for healthier products. The demand for low-sugar, low-calorie beverages has increased as customers have become more health-conscious. As a result, companies are turning to low-calorie, high-efficiency sugar substitutes like stevia, propelling the Asia Pacific natural sweeteners market forward.
The region’s food and beverage businesses are thriving, which is helping the Asia Pacific natural sweeteners market flourish as well. To fulfil the increased demand for healthier products, corporations are favoring natural sweeteners over artificial sweeteners. Steviol glycosides are now found in over 5,000 foods and beverages (an active compound of stevia). They have the potential to replace around 30% of all dietary sweeteners in the coming years, according to some studies.
Key Market Players
The major players in the market are PureCircle, Cargill, Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, Tate & Lyle PLC, SteviaPac Food Innovation, Layn Corporate, Zhucheng HaoTian Pharm Co.,Ltd, Sunwin Stevia International, Inc., among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Also Read:
https://sites.google.com/view/globalnewswire/blog/natural-fragrance-market
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