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The global high intensity sweeteners market is expected to witness a steady growth due to the rising demand for sweeteners, particularly from the food and beverage sector. High intensity sweeteners are widely used to prepare sugar-free products, including soft drinks, powdered drink mixes, puddings, and dairy products, among others. Due to the rising popularity of aspartame, a type of high intensity sweetener, in pharmaceuticals and beverage industries, it has emerged as a leading high intensity sweeteners type, accounting for over 30% of the global market share. By country, China is the leading producer, accounting for nearly 75% of the global production of high intensity sweeteners, followed by the United States. Due to the high demand for packaged food in North America, the region remains the largest consumer for the product, accounting for 34% of the global demand.
With the rising health concern, the demand for high intensity sweeteners, serving as a sugar substitute, has increased as its consumption involves less calorie intake, low blood sugar levels, and improved dental care, in comparison to sugar. Stevia is a significant high intensity sweetener. It is witnessing a robust demand as consumers are increasingly demanding natural food and beverage products. In April 2020, Tate & Lyle PLC (LON: TATE), a global food ingredients provider and a key player in the high intensity sweeteners market, signed a multi-year enzyme supply and licensing agreement with Codexis, Inc. (NASDAQ: CDXS) to produce TASTEVA® M Stevia Sweetener. TASTEVA® M Stevia Sweetener is the first premium Reb M stevia sweetener, which was launched by Tate & Lyle in 2018, opening new horizons for the production of sugar-free products.
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The major players in the global high intensity sweeteners market are Vitasweet Co.,LTD., Ingredion Incorporation, SinoSweet Co., Ltd., Cargill Inc, Anhui Jinhe Industrial Co., Ltd, Celanese Corporation, Pure Circle, and Tate & Lyle PLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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