Sugar Reducing Ingredients Market Segmentation
Sugar Reducing Ingredients Function Outlook (USD Million, 2018-2032)
Sugar Reducing Ingredients Application Outlook (USD Million, 2018-2032)
Sugar Reducing Ingredients Distribution Channel Outlook (USD Million, 2018-2032)
Sugar Reducing Ingredients Regional Outlook (USD Million, 2018-2032)
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 16
1.1 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY FUNCTION 18
1.2 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY APPLICATION 19
1.3 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY DISTRIBUTION CHANNEL 20
1.4 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY REGION 21
2 MARKET INTRODUCTION 22
2.1 DEFINITION 22
2.2 SCOPE OF THE STUDY 22
2.3 RESEARCH OBJECTIVE 22
2.4 MARKET STRUCTURE 23
3 RESEARCH METHODOLOGY 24
3.1 RESEARCH PROCESS 24
3.2 PRIMARY RESEARCH 25
3.3 SECONDARY RESEARCH 26
3.4 MARKET SIZE ESTIMATION 27
3.5 FORECAST MODEL 28
3.6 LIST OF ASSUMPTIONS & LIMITATIONS 29
4 MARKET DYNAMICS 30
4.1 INTRODUCTION 30
4.2 DRIVERS 31
4.2.1 LARGE POOL OF PEOPLE SUFFERING FROM CARDIOVASCULAR DISEASE AS WELL AS DIABETES 31
4.2.2 FAVORABLE POLICIES LAID DOWN BY THE GOVERNMENT BODIES 32
4.2.3 DRIVER IMPACT ANALYSIS 33
4.3 RESTRAINTS 33
4.3.1 CONTRADICTORY RESULTS OF SUGAR REDUCING INGREDIENTS IN CLINICAL TRIALS 33
4.3.2 RESTRAINT IMPACT ANALYSIS 34
4.4 OPPORTUNITIES 34
4.4.1 GROWING EXPANSION POLICIES ADOPTED BY KEY PLAYERS 34
4.5 CHALLENGES 35
4.5.1 STRINGENT GOVERNMENT REGULATION 35
5 MARKET FACTOR ANALYSIS 36
5.1 VALUE CHAIN ANALYSIS 36
5.1.1 RAW MATERIAL PROCUREMENT 37
5.1.2 MANUFACTURING 37
5.1.3 PACKAGING 38
5.2 SUPPLY CHAIN ANALYSIS 39
5.2.1 RAW MATERIALS SOURCING 39
5.2.2 MANUFACTURING 40
5.2.3 DISTRIBUTION 40
5.2.4 END-USER 40
5.3 PORTER'S FIVE FORCES MODEL 41
5.3.1 BARGAINING POWER OF SUPPLIERS 42
5.3.2 BARGAINING POWER OF BUYERS 42
5.3.3 THREAT OF NEW ENTRANTS 42
5.3.4 THREAT OF SUBSTITUTES 43
5.3.5 INTENSITY OF RIVALRY 43
5.4 IMPACT OF INFLATION ON GLOBAL SUGAR REDUCING INGREDIENTS MARKET 43
5.5 SUSTAINABILITY IN SUGAR REDUCING INGREDIENTS MARKET 44
5.6 IMPACT OF COVID-19 OUTBREAK ON GLOBAL SUGAR REDUCING INGREDIENTS MARKET 45
5.6.1 IMPACT ON PRODUCTION 45
5.6.2 IMPACT ON SUPPLY CHAIN 45
5.6.3 IMPACT ON PRICING 45
5.6.4 IMPACT ON CONSUMER BUYING BEHAVIOUR 46
5.6.5 IMPACT ON OFFLINE VS ONLINE SALES 46
6 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY FUNCTION 47
6.1 OVERVIEW 47
6.1.1 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY FUNCTION, 2020–2030 48
6.2 SWEETENERS 48
6.2.1 SWEETENERS: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 48
6.3 BULKING AGENTS 49
6.3.1 BULKING AGENTS: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 49
6.4 TEXTURANTS 50
6.4.1 TEXTURANTS: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 50
7 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY APPLICATION 51
7.1 OVERVIEW 51
7.1.1 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY APPLICATION, 2020–2030 52
7.2 FOOD & BEVERAGE 52
7.2.1 BAKERY & CONFECTIONERY 52
7.2.2 BEVERAGES 52
7.2.3 DAIRY & DESSERTS 53
7.2.4 SNACKS & SAVORY 53
7.2.5 FOOD & BEVERAGE: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 53
7.3 PHARMACEUTICALS & NUTRACEUTICALS 54
7.3.1 PHARMACEUTICALS & NUTRACEUTICALS: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 54
8 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY DISTRIBUTION CHANNEL 55
8.1 OVERVIEW 55
8.1.1 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2020–2030 56
8.2 B2B 57
8.2.1 B2B: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 57
8.3 B2C 57
8.3.1 B2C: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 57
9 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY REGION 59
9.1 OVERVIEW 59
9.1.1 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 60
9.2 NORTH AMERICA 60
9.2.1 NORTH AMERICA SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY COUNTRY, 2020–2030 61
9.2.2 NORTH AMERICA SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY FUNCTION, 2020–2030 62
9.2.3 NORTH AMERICA SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY APPLICATION, 2020–2030 62
9.2.4 NORTH AMERICA SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2020–2030 62
9.2.5 US 63
9.2.6 CANADA 64
9.2.7 MEXICO 65
9.3 EUROPE 66
9.3.1 EUROPE SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY COUNTRY, 2020–2030 67
9.3.2 EUROPE SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY FUNCTION, 2020–2030 67
9.3.3 EUROPE SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY APPLICATION, 2020–2030 67
9.3.4 EUROPE SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2020–2030 68
9.3.5 GERMANY 68
9.3.6 UK 69
9.3.7 FRANCE 70
9.3.8 SPAIN 71
9.3.9 ITALY 72
9.3.10 REST OF EUROPE 73
9.4 ASIA-PACIFIC 74
9.4.1 ASIA-PACIFIC SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY COUNTRY, 2020–2030 75
9.4.2 ASIA-PACIFIC SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY FUNCTION, 2020–2030 75
9.4.3 ASIA-PACIFIC SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY APPLICATION, 2020–2030 75
9.4.4 ASIA-PACIFIC SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2020–2030 76
9.4.5 CHINA 76
9.4.6 INDIA 77
9.4.7 JAPAN 78
9.4.8 AUSTRALIA & NEW ZEALAND 79
9.4.9 REST OF ASIA-PACIFIC 80
9.5 REST OF THE WORLD 81
9.5.1 REST OF THE WORLD SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY COUNTRY, 2020–2030 81
9.5.2 REST OF THE WORLD SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY FUNCTION, 2020–2030 82
9.5.3 REST OF THE WORLD SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY APPLICATION, 2020–2030 82
9.5.4 REST OF THE WORLD SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2020–2030 82
9.5.5 SOUTH AMERICA 83
9.5.6 MIDDLE EAST 84
9.5.7 AFRICA 85
10 COMPETITIVE LANDSCAPE 86
10.1 INTRODUCTION 86
10.2 MARKET STRATEGY ANALYSIS 86
10.3 COMPETITIVE BENCHMARKING 87
10.4 KEY DEVELOPMENTS & GROWTH STRATEGIES 88
10.4.1 NEW PRODUCT LAUNCH 88
11 COMPANY PROFILES- SUGAR REDUCING INGREDIENTS MANUFACTURERS 90
11.1 INGREDION INCORPORATED 90
11.1.1 COMPANY OVERVIEW 90
11.1.2 FINANCIAL OVERVIEW 91
11.1.3 PRODUCTS OFFERED 92
11.1.4 KEY DEVELOPMENTS 92
11.1.5 SWOT ANALYSIS 93
11.1.6 KEY STRATEGIES 93
11.2 ADM 94
11.2.1 COMPANY OVERVIEW 94
11.2.2 FINANCIAL OVERVIEW 95
11.2.3 PRODUCTS OFFERED 95
11.2.4 KEY DEVELOPMENTS 96
11.2.5 SWOT ANALYSIS 96
11.2.6 KEY STRATEGIES 97
11.3 ROQUETTE FRÈRES 98
11.3.1 COMPANY OVERVIEW 98
11.3.2 FINANCIAL OVERVIEW 98
11.3.3 PRODUCTS OFFERED 98
11.3.4 KEY DEVELOPMENTS 98
11.3.5 KEY STRATEGIES 99
11.4 DUPONT 100
11.4.1 COMPANY OVERVIEW 100
11.4.2 FINANCIAL OVERVIEW 100
11.4.3 PRODUCTS OFFERED 101
11.4.4 KEY DEVELOPMENTS 101
11.4.5 SWOT ANALYSIS 101
11.4.6 KEY STRATEGIES 102
11.5 CARGILL INCORPORATED 103
11.5.1 COMPANY OVERVIEW 103
11.5.2 FINANCIAL OVERVIEW 103
11.5.3 PRODUCTS OFFERED 104
11.5.4 KEY DEVELOPMENTS 104
11.5.5 SWOT ANALYSIS 105
11.5.6 KEY STRATEGIES 105
11.6 TATE & LYLE 106
11.6.1 COMPANY OVERVIEW 106
11.6.2 FINANCIAL OVERVIEW 106
11.6.3 PRODUCTS OFFERED 107
11.6.4 KEY DEVELOPMENTS 107
11.6.5 SWOT ANALYSIS 108
11.6.6 KEY STRATEGIES 108
11.7 KERRY GROUP 109
11.7.1 COMPANY OVERVIEW 109
11.7.2 FINANCIAL OVERVIEW 109
11.7.3 PRODUCTS OFFERED 109
11.7.4 KEY DEVELOPMENTS 110
11.7.5 SWOT ANALYSIS 110
11.7.6 KEY STRATEGIES 110
11.8 INTERNATIONAL FLAVORS & FRAGRANCES, INC. 111
11.8.1 COMPANY OVERVIEW 111
11.8.2 FINANCIAL OVERVIEW 111
11.8.3 PRODUCTS OFFERED 112
11.8.4 KEY DEVELOPMENTS 112
11.8.5 SWOT ANALYSIS 113
11.8.6 KEY STRATEGIES 113
11.9 GLG LIFE TECH CORP. 114
11.9.1 COMPANY OVERVIEW 114
11.9.2 FINANCIAL OVERVIEW 115
11.9.3 PRODUCTS OFFERED 115
11.9.4 KEY DEVELOPMENTS 116
11.9.5 KEY STRATEGIES 116
11.10 SÜDZUCKER AG 117
11.10.1 COMPANY OVERVIEW 117
11.10.2 FINANCIAL OVERVIEW 118
11.10.3 PRODUCTS OFFERED 118
11.10.4 KEY DEVELOPMENTS 119
11.10.5 KEY STRATEGIES 119
LIST OF TABLES
TABLE 1 PRIMARY INTERVIEWS 25
TABLE 2 LIST OF ASSUMPTIONS & LIMITATIONS 29
TABLE 3 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY FUNCTION, 2020–2030 (USD MILLION) 48
TABLE 4 SWEETENERS: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 (USD MILLION) 48
TABLE 5 BULKING AGENTS: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 (USD MILLION) 49
TABLE 6 TEXTURANTS: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 (USD MILLION) 50
TABLE 7 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY APPLICATION, 2020–2030 (USD MILLION) 52
TABLE 8 FOOD & BEVERAGE: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 (USD MILLION) 53
TABLE 9 PHARMACEUTICALS & NUTRACEUTICALS: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 (USD MILLION) 54
TABLE 10 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2020–2030
(USD MILLION) 56
TABLE 11 B2B: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 (USD MILLION) 57
TABLE 12 B2C: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 (USD MILLION) 57
TABLE 13 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 (USD MILLION) 60
TABLE 14 NORTH AMERICA: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2020–2030 (USD MILLION) 61
TABLE 15 NORTH AMERICA: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 62
TABLE 16 NORTH AMERICA: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 62
TABLE 17 NORTH AMERICA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 62
TABLE 18 US: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 63
TABLE 19 US: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 63
TABLE 20 US: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 63
TABLE 21 CANADA: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 64
TABLE 22 CANADA: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 64
TABLE 23 CANADA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 64
TABLE 24 MEXICO: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 65
TABLE 25 MEXICO: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 65
TABLE 26 MEXICO: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 65
TABLE 27 EUROPE: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2020–2030 (USD MILLION) 67
TABLE 28 EUROPE: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 67
TABLE 29 EUROPE: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 67
TABLE 30 EUROPE: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 68
TABLE 31 GERMANY: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 68
TABLE 32 GERMANY: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 68
TABLE 33 GERMANY: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 68
TABLE 34 UK: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 69
TABLE 35 UK: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 69
TABLE 36 UK: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 69
TABLE 37 FRANCE: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 70
TABLE 38 FRANCE: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 70
TABLE 39 FRANCE: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 70
TABLE 40 SPAIN: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 71
TABLE 41 SPAIN: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 71
TABLE 42 SPAIN: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 71
TABLE 43 ITALY: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 72
TABLE 44 ITALY: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 72
TABLE 45 ITALY: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 72
TABLE 46 REST OF EUROPE: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 73
TABLE 47 REST OF EUROPE: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 73
TABLE 48 REST OF EUROPE: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 73
TABLE 49 ASIA-PACIFIC: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2020–2030 (USD MILLION) 75
TABLE 50 ASIA-PACIFIC: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 75
TABLE 51 ASIA-PACIFIC: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 75
TABLE 52 ASIA-PACIFIC: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 76
TABLE 53 CHINA: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 76
TABLE 54 CHINA: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 76
TABLE 55 CHINA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 76
TABLE 56 INDIA: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 77
TABLE 57 INDIA: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 77
TABLE 58 INDIA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 77
TABLE 59 JAPAN: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 78
TABLE 60 JAPAN: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 78
TABLE 61 JAPAN: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 78
TABLE 62 AUSTRALIA & NEW ZEALAND: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 79
TABLE 63 AUSTRALIA & NEW ZEALAND: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 79
TABLE 64 AUSTRALIA & NEW ZEALAND: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 79
TABLE 65 REST OF ASIA-PACIFIC: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 80
TABLE 66 REST OF ASIA-PACIFIC: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 80
TABLE 67 REST OF ASIA-PACIFIC: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 80
TABLE 68 REST OF THE WORLD: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 (USD MILLION) 81
TABLE 69 REST OF THE WORLD: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 82
TABLE 70 REST OF THE WORLD: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 82
TABLE 71 REST OF THE WORLD: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 82
TABLE 72 SOUTH AMERICA: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 83
TABLE 73 SOUTH AMERICA: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 83
TABLE 74 SOUTH AMERICA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 83
TABLE 75 MIDDLE EAST: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 84
TABLE 76 MIDDLE EAST: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 84
TABLE 77 MIDDLE EAST: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 84
TABLE 78 AFRICA: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION) 85
TABLE 79 AFRICA: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION) 85
TABLE 80 AFRICA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 85
TABLE 81 NEW PRODUCT LAUNCH 88
TABLE 82 INGREDION INCORPORATED: PRODUCTS OFFERED 92
TABLE 83 INGREDION INCORPORATED: KEY DEVELOPMENTS 92
TABLE 84 ADM: PRODUCTS OFFERED 95
TABLE 85 ADM: KEY DEVELOPMENTS 96
TABLE 86 ROQUETTE FRÈRES: PRODUCTS OFFERED 98
TABLE 87 ROQUETTE FRÈRES: KEY DEVELOPMENTS 98
TABLE 88 DUPONT: PRODUCTS OFFERED 101
TABLE 89 DUPONT: KEY DEVELOPMENTS 101
TABLE 90 CARGILL INCORPORATED: PRODUCTS OFFERED 104
TABLE 91 CARGILL INCORPORATED: KEY DEVELOPMENTS 104
TABLE 92 TATE & LYLE: PRODUCTS OFFERED 107
TABLE 93 TATE & LYLE: KEY DEVELOPMENTS 107
TABLE 94 KERRY GROUP: PRODUCTS OFFERED 109
TABLE 95 INTERNATIONAL FLAVORS & FRAGRANCES, INC.: PRODUCTS OFFERED 112
TABLE 96 INTERNATIONAL FLAVORS & FRAGRANCES, INC.: KEY DEVELOPMENTS 112
TABLE 97 GLG LIFE TECH CORP.: PRODUCTS OFFERED 115
TABLE 98 GLG LIFE TECH CORP.: KEY DEVELOPMENTS 116
TABLE 99 SÜDZUCKER AG: PRODUCTS OFFERED 118
TABLE 100 SÜDZUCKER AG: KEY DEVELOPMENTS 119
LIST OF FIGURES
FIGURE 1 MARKET SYNOPSIS 17
FIGURE 2 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ANALYSIS BY FUNCTION 18
FIGURE 3 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ANALYSIS BY APPLICATION 19
FIGURE 4 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ANALYSIS BY DISTRIBUTION CHANNEL 20
FIGURE 5 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ANALYSIS BY REGION 21
FIGURE 6 GLOBAL SUGAR REDUCING INGREDIENTS MARKET: STRUCTURE 23
FIGURE 7 RESEARCH PROCESS 24
FIGURE 8 TOP-DOWN & BOTTOM-UP APPROACHES 27
FIGURE 9 MARKET DYNAMIC ANALYSIS OF THE GLOBAL SUGAR REDUCING INGREDIENTS MARKET 30
FIGURE 10 PERCENTAGE OF ADULTS IN THE U.S. WHO WERE TOLD BY A DOCTOR THEY HAD A STROKE AS OF 2018, BY REGION 31
FIGURE 11 COUNTRIES WITH THE HIGHEST NUMBER OF DIABETICS WORLDWIDE IN 2021 32
FIGURE 12 VALUE CHAIN: GLOBAL SUGAR REDUCING INGREDIENTS MARKET 36
FIGURE 13 GLOBAL SUGAR REDUCING INGREDIENTS MARKET: SUPPLY CHAIN ANALYSIS 39
FIGURE 14 PORTER'S FIVE FORCES ANALYSIS OF THE GLOBAL SUGAR REDUCING INGREDIENTS MARKET 41
FIGURE 15 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY FUNCTION, 2021 (% SHARE) 47
FIGURE 16 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY FUNCTION, 2020–2030 (USD MILLION) 47
FIGURE 17 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY APPLICATION, 2021 (% SHARE) 51
FIGURE 18 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY APPLICATION, 2020–2030 (USD MILLION) 51
FIGURE 19 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY DISTRIBUTION CHANNEL, 2021 (% SHARE) 55
FIGURE 20 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION) 56
FIGURE 21 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY REGION, 2021 (% SHARE) 59
FIGURE 22 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY REGION, 2020–2030 (USD MILLION) 59
FIGURE 23 NORTH AMERICA: SUGAR REDUCING INGREDIENTS MARKET SHARE, BY COUNTRY, 2021 (% SHARE) 61
FIGURE 24 EUROPE: SUGAR REDUCING INGREDIENTS MARKET SHARE, BY COUNTRY, 2021 (% SHARE) 66
FIGURE 25 ASIA-PACIFIC: SUGAR REDUCING INGREDIENTS MARKET SHARE, BY COUNTRY, 2021 (% SHARE) 74
FIGURE 26 REST OF THE WORLD: SUGAR REDUCING INGREDIENTS MARKET SHARE, BY COUNTRY, 2021 (% SHARE) 81
FIGURE 27 BENCHMARKING OF MAJOR COMPETITORS 87
FIGURE 28 INGREDION INCORPORATED: FINANCIAL OVERVIEW SNAPSHOT 91
FIGURE 29 INGREDION INCORPORATED: SWOT ANALYSIS 93
FIGURE 30 ADM: FINANCIAL OVERVIEW SNAPSHOT 95
FIGURE 31 ADM: SWOT ANALYSIS 96
FIGURE 32 DUPONT: FINANCIAL OVERVIEW SNAPSHOT 100
FIGURE 33 DUPONT: SWOT ANALYSIS 101
FIGURE 34 CARGILL INCORPORATED: FINANCIAL OVERVIEW SNAPSHOT 103
FIGURE 35 CARGILL INCORPORATED: SWOT ANALYSIS 105
FIGURE 36 TATE & LYLE: FINANCIAL OVERVIEW SNAPSHOT 106
FIGURE 37 TATE & LYLE: SWOT ANALYSIS 108
FIGURE 38 KERRY GROUP: FINANCIAL OVERVIEW SNAPSHOT 109
FIGURE 39 KERRY GROUP: SWOT ANALYSIS 110
FIGURE 40 INTERNATIONAL FLAVORS & FRAGRANCES, INC.: FINANCIAL OVERVIEW SNAPSHOT 111
FIGURE 41 INTERNATIONAL FLAVORS & FRAGRANCES, INC.: SWOT ANALYSIS 113
FIGURE 42 GLG LIFE TECH CORP.: FINANCIAL OVERVIEW SNAPSHOT 115
FIGURE 43 SÜDZUCKER AG: FINANCIAL OVERVIEW SNAPSHOT 118
LIST OF ABBREVIATION
Abbreviation Full Form
US United States
UK United Kingdom
ME&A Middle East & Africa
RoW Rest of the World
CAGR Compound Annual Growth Rate
1 EXECUTIVE SUMMARY
The global sugar reducing ingredients market is projected to witness significant growth during the review period, exhibiting a CAGR of 5.39%. The market was estimated to be USD 31,947.79 million in 2021 and is expected to reach a value of USD 50,022.89 million by the end of the forecast period (2022-2030).
The global sugar reducing ingredients market has been gaining momentum in recent years, driven by various factors such as the rising prevalence of diabetes and cardiovascular diseases, favorable government policies, and increasing consumer awareness about the health risks of consuming excessive sugar. This market is expected to grow at a steady pace in the coming years, providing opportunities for businesses that produce sugar-reducing ingredients and products.
One of the primary drivers of the market is the large pool of people suffering from diabetes and cardiovascular diseases. These conditions are often associated with high sugar intake and can be managed by reducing sugar consumption. Sugar-reducing ingredients, such as artificial sweeteners, natural sweeteners, and sugar substitutes, are increasingly being used in a variety of products to cater to this growing demand. Low-calorie drinks, baked goods, and confectionery products are some of the most popular applications of these ingredients. Moreover, favorable government policies have been instrumental in driving the growth of the market. Governments around the world are introducing regulations aimed at reducing sugar consumption and promoting healthy eating habits.
However, one of the main restraints to the growth of the market is the contradictory results of clinical trials on sugar-reducing ingredients. Some studies have shown that these ingredients can be effective in reducing sugar intake and managing diabetes and cardiovascular diseases. However, other studies have found no significant benefit in reducing sugar intake. This has led to uncertainty among consumers and manufacturers about the effectiveness of sugar-reducing ingredients. As a result, companies are investing in research and development to create new and innovative ingredients that offer better results and can be used in a wider range of products.
The market presents numerous opportunities for growth, particularly through the growing expansion policies adopted by key players. Many companies are investing in research and development to create new and innovative sugar-reducing ingredients that offer better results and can be used in a wider range of products. For example, some companies are developing sweeteners that mimic the taste of sugar but with fewer calories. Others are using natural sweeteners, such as stevia, to create low-calorie products that appeal to health-conscious consumers.
However, the industry faces challenges such as stringent government regulations that govern the use of sugar-reducing ingredients. Manufacturers must comply with complex regulations and guidelines, which can be costly and time-consuming. Moreover, the approval process for new ingredients can be lengthy and uncertain, which can limit the entry of new players in the market and affect the overall growth of the industry.
FIGURE 1 MARKET SYNOPSIS
Source: MRFR Analysis
1.1 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY FUNCTION
FIGURE 2 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ANALYSIS BY FUNCTION
Source: MRFR Analysis
1.2 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY APPLICATION
FIGURE 3 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ANALYSIS BY APPLICATION
Source: MRFR Analysis
1.3 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY DISTRIBUTION CHANNEL
FIGURE 4 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ANALYSIS BY DISTRIBUTION CHANNEL
Source: MRFR Analysis
1.4 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY REGION
FIGURE 5 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ANALYSIS BY REGION
Source: MRFR Analysis
2 MARKET INTRODUCTION
2.1 DEFINITION
The sugar reducing ingredients market refers to the food ingredients that are used as substitutes for traditional sugar in various food and beverage products. These ingredients are intended to provide sweetness to foods and beverages without adding the same amount of calories or raising blood sugar levels as traditional sugar. Sugar reducing ingredients also helps in maintaining the texture of the products without adding sugar. Some of the most commonly used sugar reducing ingredients in the market include natural sweeteners such as stevia, monk fruit, and erythritol, as well as artificial sweeteners like aspartame, sucralose, and saccharin. Other ingredients, such as honey, inulin, polydextrose, and maltodextrin, are used to add bulk and texture to products while reducing the overall sugar content. The market for sugar reducing ingredients has grown significantly in recent years, driven by increasing consumer demand for healthier food and beverage options. Consumers are becoming more aware of the negative health effects of consuming high levels of sugar, including obesity, diabetes, and heart disease, and are seeking out products that are lower in sugar.
2.2 SCOPE OF THE STUDY
The scope of the global sugar reducing ingredients market study includes the market size analysis and a detailed analysis of the manufacturers’ products and strategies. The market has been segmented based on the function, application, distribution channel, and region.
2.3 RESEARCH OBJECTIVE
To provide a comprehensive analysis of the sugar reducing ingredients industry and its sub-segments in the global market, thereby providing a detailed structure of the industry
To provide detailed insights into factors driving and restraining the growth of the global sugar reducing ingredients market
To estimate the market size of the global sugar reducing ingredients market where 2020 would be the historical year, 2021 shall be the base year, and 2022 to 2030 will be the forecast period for the study
To analyze the global sugar reducing ingredients market in four main geographies, namely, North America, Europe, Asia-Pacific, and the Rest of the World.
To provide country-wise market value analysis for various segments of the sugar reducing ingredients market
To provide strategic profiling of key companies (manufacturers and distributors) present across the globe and comprehensively analyze their competitiveness/competitive landscape in this market
To provide a distribution chain analysis/value chain for the global sugar reducing ingredients market
2.4 MARKET STRUCTURE
FIGURE 6 GLOBAL SUGAR REDUCING INGREDIENTS MARKET: STRUCTURE
Source: MRFR Analysis
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
Market Research Future analysis is based on interviews with industry experts who offer insight into the market structure, market segmentation, technology assessment, competitive landscape (CL), market penetration, and emerging trends. Besides primary interviews (~80%) and secondary research (~20%), their analysis is based on years of professional expertise in their respective industries. Our analysts also predict where the market will be headed in the next five to 10 years by analyzing historical trends and the current market position. Furthermore, the varying trends in segments and categories in each region are studied and estimated based on primary and secondary research.
FIGURE 7 RESEARCH PROCESS
Source: MRFR Analysis
TABLE 1 PRIMARY INTERVIEWS
Region Manufacturers Retailers Consumers Total Number of Primary Interviews
North America 45% 25% 50% 100
Europe 35% 25% 40% 100
Asia-Pacific 35% 25% 30% 60
Rest of the World 20% 20% 25% 50
3.2 PRIMARY RESEARCH
Extensive primary research was conducted to gain a deeper insight into the market and the industry performance. For this particular report, we have conducted primary surveys (interviews) with the key level executives (VPs, CEOs, marketing directors, and business development managers, among others) of the major players active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed in the next five years.
3.3 SECONDARY RESEARCH
Secondary research was mainly used to collect and identify information useful for an extensive, technical, market-oriented, and commercial study of the global zipper market. It was also used to obtain key information about major players, market classification, and segmentation according to industry trends, geographical markets, and developments related to the market and technology. For this study, analysts have gathered information from various credible sources such as annual reports, SEC filings, journals, white papers, corporate presentations, company websites, international organizations of sugar reducing ingredients, manufacturers, and paid databases.
3.4 MARKET SIZE ESTIMATION
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of the overall zipper market. The key players in the market were identified through secondary research, and their market contributions in the respective regions were determined through primary and secondary research. This entire procedure included the study of the annual and financial reports of top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market have been covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to arrive at the final quantitative and qualitative data. This data has been consolidated and detailed inputs and analysis added by Market Research Future before being presented in this report. The following figure is an illustrative representation of the overall market size estimation process employed for the purpose of this study.
FIGURE 8 TOP-DOWN & BOTTOM-UP APPROACHES
Source: MRFR Analysis
3.5 FORECAST MODEL
Source: MRFR Analysis
3.6 LIST OF ASSUMPTIONS & LIMITATIONS
TABLE 2 LIST OF ASSUMPTIONS & LIMITATIONS
Parameter Assumptions & Limitations
Currency Value All forecasts have been made with the revenue and value calculated under the standard assumption that the value of the globally accepted currency, the US dollar, remains constant over the next five years.
Exchange Rates and Currency For the conversion of various currencies to USD, the average historical exchange rates have been used according to the year specified. For all historical and current exchange rates required for calculations and currency conversions, the OANDA website has been used in this research study.
Conversion
Niche Market Segments For niche market segments where accurate data of the respective timeline was not available, the data were calculated using trend line analysis. In some instances, where mathematical and statistical models could not be applied to arrive at the number, a generalization of specific related trends to that particular market has been made.
Qualitative Analysis The qualitative analysis is arrived at from the quantitative data based on the understanding of the market and its trends by the team of experts involved in making this report.
Average Selling Prices (ASP) The ASP, wherever applicable, was calculated using suitable statistical and mathematical methods and considering external qualitative factors affecting the price. All the calculations are interconnected based on the finalized ASPs.
Source: MRFR Analysis
4 MARKET DYNAMICS
4.1 INTRODUCTION
The global sugar reducing ingredients market is projected to witness significant growth during the forecast period, exhibiting a CAGR of 5.39% during the forecast period. The key factors driving the growth of the sugar reducing ingredients market are the large pool of people suffering from cardiovascular disease as well as diabetes coupled with the favorable policies laid down by the government bodies. However, contradictory results of sugar reducing ingredients in clinical trials is expected to restrict the market's growth during the forecast period. Furthermore, growing expansion policies adopted by key players are anticipated to create growth opportunities for the market.
FIGURE 9 MARKET DYNAMIC ANALYSIS OF THE GLOBAL SUGAR REDUCING INGREDIENTS MARKET
Source: Company websites, Annual Reports, Secondary research, Press Releases, Paid Database, Expert interviews, White papers, Journals, Case Studies, and MRFR Analysis
4.2 DRIVERS
4.2.1 LARGE POOL OF PEOPLE SUFFERING FROM CARDIOVASCULAR DISEASE AS WELL AS DIABETES
The growing geriatric population coupled with the large pool of people suffering from cardiovascular disease as well as diabetes across U.S. has increased the demand of sugar reducing ingredients owing to the health benefits provided by them. For example, according to the FDA, aspartame is a non-nutritive artificial sweetener that is 200 times sweeter than sugar. Sometimes, it is sold as Equal and NutraSweet in blue packets. Although though aspartame is not zero-calorie like some other artificial sweeteners, it nevertheless has a low-calorie count. Furthermore, as a part of this, according to the Centers for Disease Control and Prevention, in the United States, heart disease is the leading cause of death for both sexes and for members of most racial and ethnic groups. In the United States, cardiovascular disease claims one life every 34 seconds. Almost 697,000 Americans died from heart disease in 2020, making up 1 in 5 fatalities in the country.
Furthermore, various initiatives were taken by organizations across the country to educate the patients suffering from chronic which in turn are likely to contribute to its overall market growth. For example, the Administration for Community Living, provides Chronic Disease Self-Management Education (CDSME) programs which provides education and tools to help them better manage chronic conditions and age-relate diseases including diabetes, heart disease, arthritis, chronic pain, as well as depression. Through competitive funds in the form of cooperation agreements, the Administration on Aging (AoA) has supported the dissemination of CDSME programs since 2003. Organizations eligible for grants include tribes, NGOs, universities, and local agencies on aging. Funds are utilized to expand, scale up, and maintain evidence based CDSME activities. Under the terms of these grants, grantees are carrying out a range of initiatives, such as partnering with local health departments, hospitals, rural clinics, and area agencies on aging to deliver programs, focusing on self-management programs for people affected by chronic pain and opioid abuse, documenting health care cost savings through HIEs, and securing reimbursement from Medicare, Medicare Advantage, and Medicaid. Hence, such factors are likely to increase the demand for reduced sugar ingredients which in turn would boost its market growth in the upcoming years.
FIGURE 10 PERCENTAGE OF ADULTS IN THE U.S. WHO WERE TOLD BY A DOCTOR THEY HAD A STROKE AS OF 2018, BY REGION
Source: MRFR Analysis
FIGURE 11 COUNTRIES WITH THE HIGHEST NUMBER OF DIABETICS WORLDWIDE IN 2021
Source: MRFR Analysis
4.2.2 FAVORABLE POLICIES LAID DOWN BY THE GOVERNMENT BODIES
The growing health-conscious population coupled with their increased inclination towards reduced sugar ingredients has increased the demand of reduced sugar ingredients products in the upcoming years. Hence, the government bodies across various region are laying down policies to reduce sugar consumption and switch to reduced sugar ingredients which in turn would boost its market growth. For instance, in November 2018, Brazil's Health Ministry and the food and beverage industry have entered into an agreement that will lower domestic sugar consumption by 144 000 tons by 2022.In addition, they contended, however, that national initiatives to lower sugar consumption rates will be more effective and have a wider impact if they take advantage of the potential advantages for biodiversity conservation and climate change mitigation. Any biofuel-driven expansion of sugarcane must take place on idle or active agricultural lands and must not encourage the displacement of agricultural activities into native vegetation for the environmental benefits of lower sugar consumption to be realized. Brazil has a long-term strategy in place to protect natural habitats from the spread of sugarcane until recently. In November 2019, Brazilian President Jair Bolsonaro withdrew this legislation, known as sugarcane agroecological zoning, making natural habitats vulnerable to the spread of sugarcane. Moreover, the Brazilian government to reintroduce sugarcane agroecological zoning, as it reinforces and complements the existing environmental protections. In addition, it also acknowledges the critical necessity for Brazil's rules governing protected areas and Indigenous lands to be strengthened and enforced. Further assistance is required for the area's managers to continue to effectively thwart unauthorized or undesirable agricultural expansion.
Another, such policies laid down by the government is the “Sugar Reduction Programme” which had set a 2020 deadline for all food industry segments to reduce sugar content in the foods that children under the age of 18 consume the most by 20%. Industry standards were released in 2017. Juices and milk-based beverages were added to the programme in 2018, and by mid-2021, the industry was challenged to reduce sugar by 5% and 20%, respectively. In addition, the UK government also recommended sugar limits in various foods such as breakfast cereals, yoghurts, biscuits, cakes, croissants, puddings, ice cream confectionary and sweet spreads. Furthermore, in January 2022, in order to encourage healthier diets and lower levels of overweight and obesity throughout the WHO European Region, WHO/Europe launched the new, voluntary, Member State-led Sugar and Calorie Reduction Network. The Network will bring together decision-makers and health professionals from all 53 of the member states in the region to discuss how to reduce sugar and calories while maintaining national food systems, culinary traditions, and regulatory frameworks. The Network will be led by the United Kingdom for the first three years. Hence, such policies laid down by various government bodies across the region is likely to boost its market growth during the forecast period.
4.2.3 DRIVER IMPACT ANALYSIS
Source: Industry Expert, Secondary Research, and MRFR Analysis
4.3 RESTRAINTS
4.3.1 CONTRADICTORY RESULTS OF SUGAR REDUCING INGREDIENTS IN CLINICAL TRIALS
The presence of various contradictories associated with sugar reducing ingredient may reduce the overall sales of the product, which in turn may restrain its market growth in the upcoming years. For instance, according to a study by the University of Texas Health Science Center at San Antonio, using diet drinks was a sign of rising obesity and weight gain rather than aiding in weight loss. In comparison to individuals who drank naturally sweetened soda, those who consumed diet soda were more likely to acquire weight. Artificial sweeteners increase body weight growth, as conclusively demonstrated by animal research. Artificial sweeteners promote hypoglycemia and increased food consumption because they do not raise blood sugar levels, which triggers an insulin response that results in the storage of blood sugar in tissues. Hence, over time in the experiment, rats fed artificial sweetener gradually increased their calorie consumption, their body weight, and their adiposity.
Few other adverse effects associated with some sugar reducing ingredients such as aspartame which was approved by the U.S. Food and Drug Administration, to be used in a variety of foods including tabletop sweeteners, carbonated soft drinks, yoghurt, and confections by Food Standards Australia New Zealand (FSANZ) and other international regulatory organizations. However, some recent studies conducted revealed that Aspartame exhibits antipyretic, analgesic, and anti-inflammatory activity, according to several studies. It has been hypothesized that aspartame interferes with rheumatoid factor activity to reduce the discomfort and immobility brought on by persistent joint inflammation.
Furthermore, saccharin which is another sugar reducing ingredients have also shown some contradictions results in clinical trials which is further expected to limit its market growth. For example, according to one animal study, the ingestion of foods and beverages containing saccharin may increase body weight and cause obesity by interfering with crucial physiological and homeostatic processes. After a 1960 study revealed that excessive doses of saccharin may result in bladder cancer in laboratory rats, fear of saccharin intensified. Canada outlawed saccharin in 1977 because of its negative effects on animals. The FDA in the United States contemplated banning it in 1977, but Congress intervened and imposed a moratorium on such a ban, requiring a warning label and requiring additional research on the safety of saccharin. Saccharin induces cancer in male rats by a mechanism that is not present in humans, it was later discovered. In rat urine, it precipitates at high dosages. When the bladder's lining cells repair after being injured by this precipitate, a tumor develops. Hence, such contradictions results obtained through clinical trials on sugar reducing ingredients may serve as a restraining factor for its market growth in the upcoming years.
4.3.2 RESTRAINT IMPACT ANALYSIS
Source: Industry Expert, Secondary Research, and MRFR Analysis
4.4 OPPORTUNITIES
4.4.1 GROWING EXPANSION POLICIES ADOPTED BY KEY PLAYERS
The reduced sugar ingredients market is almost fragmented with the presence of established players, who compete against each other intensely to secure a larger customer base. Furthermore, various expansion policies adopted by key players are gaining traction in the field of the sugar reducing ingredients market. In the last few years, the sugar reducing ingredients market has witnessed quite a few expansion policies which assist in driving the market growth. For instance, in November 2022, Tate & Lyle, a UK-based company, is growing its line of lower-calorie sweeteners by expanding its reduced sugar alternative with the launch of Erytesse Erythritol, which has a sweetness level that is 70% that of sucrose, a comparable temporal profile, and no calories. Erytesse Erythritol is ideal for assisting producers to satisfy this demand because it has a clean taste and bulking qualities. Moreover, in June 2022, DouxMatok, a food technology company leading the sugar reduction movement with its sugar-based sugar reduction solution Incredo Sugar, and Batory Foods (USA), a national provider of supply chain management solutions for common and specialty food ingredients entered into commercial distribution agreement. A network of clients in North America wishes to reduce sugar in baked goods and confectionery items, such as cakes, snacks, cookies, chocolate, candies, spreads, and protein bars, will now have access to Incredo® Sugar owing to Batory Foods' addition. Together with DouxMatok's direct sales channels, the collaboration between the two businesses will increase distribution opportunities. Furthermore, in February 2022, Amyris, Inc., a top supplier of natural and sustainable ingredients and a leader in synthetic biotechnology, entered into an agreement with Ingredion Incorporated, a top global provider of ingredient solutions to the food and beverage industry, for the exclusive licencing of Amyris's zero-calorie, plant-based, fermented Reb M sweetener. The arrangement also contains a minority ownership position for Ingredion in the currently under construction Amyris Brazilian manufacturing site. Under this agreement, the world's top food and beverage companies will be able to quickly access zero-calorie natural sweeteners and other clean-label fermentation-based food ingredients owing to Amyris's leading synthetic biology technology platform for the development, scaling, and production of fermentation-based products and Ingredion's global market and customer reach, formulation capabilities, and commercial teams. Thus, the constant expansion policies taking place in the reduced sugar ingredients industry among the giants across the globe have created lucrative opportunities for players in the global reduced sugar ingredients market.
4.5 CHALLENGES
4.5.1 STRINGENT GOVERNMENT REGULATION
The stringent laws imposed by various government bodies may serve as a challenge for the reduced sugar ingredients market in the upcoming years. For instance, according to the World Health Organization's (WHO) recommendations, the government's proposal is likely to include strict packaging standards for packaged junk food and beverages, such as soft drinks, energy drinks, and other drinks with added or reduced sugar. While the Ministry is considering placing restrictions on the endorsement and commercialization of such items, particularly during prime time, the Food Safety and Standards Authority of India has been requested to investigate the packaging-related issues of such products.
The Food Drug and Cosmetic Act, which is overseen by the FDA, makes it illegal to sell food that has been mislabeled, implying that food products must have accurate labels. As previously stated, people will ultimately decide what they consume. The belief is that the government will not control consumer choices in the United States and, reportedly, many other countries. Nonetheless, there is a belief that if customers have access to knowledge, they will make "better" selections. For consumers to make informed judgments, society (via the government) dictates that food companies disclose accurate information about their product to consumers. A large portion of this information is anticipated to be accessible at the time and location where the consumer chooses to buy the food item. The method chosen to deliver customer information has been designated as labels. The laws and rules governing the labeling of food products in the US are introduced in the section.
Furthermore, in Europe, unless otherwise specified in the new Regulation (EU) 2019/787 on spirit drinks, spirit drinks placed on the Union market must adhere to the presentation and labeling standards outlined in Regulation (EU) 1169/2011. This is the case, for instance, when the major ingredient's nation of origin or source is indicated, which is not necessary for spirit drinks. The new spirit regulation sets out:
spirit drink definition, description, presentation, and labeling: For most spirit drink categories, the production and labeling guidelines as well as the definition of maximum sweetening limitations are clarified.
guidelines for using the names of alcoholic beverages in the presentation and labeling of other meals, such as in composite names or allusions that include alcoholic beverage combinations.
Geographical indications (GIs) for alcoholic beverages must be protected when used as ingredients, when they conflict with trademarks, and when goods are being transported through EU territory. Registration and amending procedures must also be made simpler.
the inclusion of agricultural distillates and ethyl alcohol in alcoholic beverages.
Spirit drinks that were labeled before December 31, 2022, and which do not meet the standards of Regulation (EU) 2019/787 but do meet the requirements of Regulation (EC) 110/2008, may be sold until all supplies are gone. Although this Regulation will eventually be repealed, customers can still examine the overview of EU spirit drink law based on the previous laws in the interim. Hence, the presence of such stringent laws regarding the food and beverage industry may serve as a challenge for its market growth.
5 MARKET FACTOR ANALYSIS
5.1 VALUE CHAIN ANALYSIS
The sugar reducing ingredients market has witnessed exemplary growth in the past decade owing to the growing innovations by major players. Additionally, the large pool of people suffering from diabetes is driving its market growth. The value chain of the sugar reducing ingredients market comprises raw materials supplied by the suppliers present in the country, followed by manufacturing and eventually packaging. The figure below depicts brief information on the value chain of the global sugar reducing ingredients market.
FIGURE 12 VALUE CHAIN: GLOBAL SUGAR REDUCING INGREDIENTS MARKET
Source: Industry Experts, Secondary Research, and MRFR Analysis
5.1.1 RAW MATERIAL PROCUREMENT
The primary raw materials needed to produce sugar reducing ingredients include corn, wheat, potato, rice and others. To uphold production standards, the raw materials are rigorously quality checked after procurement. All the required raw materials are procured in the required quantity and quality specification from third-party manufacturers or supplier. Market participants obtain various raw materials through contractual agreements, which enables them to keep up a steady supply. Once the raw materials are located and purchased, they are delivered by company-owned logistics or 3P logistics to the processing facilities or warehouses. Purchasing raw materials is an important stage because raw materials make up 60% of the typical composition of sugar reducing ingredients, which has an impact on the final product's quality. This process delivers up to 0%-35% value to the product as the quality of the raw material determines the quality of the product.
5.1.2 MANUFACTURING
Following a quality check, the raw materials are processed for the manufacture of sugar reducing ingredients. Usually, they are a range of sugar reducing ingredients, however, the sweetener’s manufacturing process has been described below.
Liquefaction: The liquefaction process is the initial step in a sweetener plant. The starch molecules are gelatinized in this process, making it easier for them to fragment into smaller molecules. To assure proper reaction conditions, this effect is primarily attained by adding enzymes to the starch slurry prior to heat treatment with direct steam injection and through the use of reactors.
Saccharification: The liquid starch product undergoes additional enzymatic hydrolysis in this process. Equipment for adjusting pH and temperature is needed, as well as storage tanks to achieve the necessary level of saccharification. By deactivating the enzymes after a predetermined amount of reaction time, lower levels of hydrolysis can be attained. Refining is necessary to eliminate impurities including proteins, fibers, lipids, and soluble components from the saccharified and inactivated product.
Filtration of Insoluble Components: Usually, there are two types of filtration process involved in the manufacturing process. The first one, vacuum filtration, which utilizes a rotating vacuum drum filter with a precoat coating of diatomaceous earth or some comparable filter aid. During this filtering, insoluble protein and solid contaminants are eliminated. On the other hand, membrane filtration which involves the crossflow idea which further serves as the system's foundation. using membranes made of polymer or ceramic with extremely small pores. In place of the conventional precoat vacuum filtering, it can be utilized. The benefits include the lack of a precoat material requirement and a more refined substrate.
Carbon Treatment: Color, proteins, and other undesirable elements are removed from the hydrolysate using activated carbon. A dust-tight metering system adds the powdered carbon to the hydrolysate, and the used carbon is collected in a vertical candle filter. Granulated carbon treatment systems are an option. The hydrolysate flows through a column of fixed-bed carbon granules. It is possible to regenerate the carbon after exhaustion.
Ion Exchange: Ion exchange is used to refine materials even further following protein filtering and carbon treatment. This eliminates cations, anions, amino acids, and some coloring agents. The system uses fixed bed columns loaded with cation and anion resins and is constructed with consideration for the product to be produced. Manufacturers can utilize single-pass, double-pass, mixed-bed solutions, etc. As the resin beds are depleted, hydrochloric acid and sodium hydroxide are used to replenish them locally. Usually, the process can be automatically controlled.
Concentration By Evaporation: The hydrolysate's solids concentration increases as a result. Using either thermal or mechanical vapour re-compression, single-effect or multi-effect falling film or plate evaporators are utilized.
The hydrolysate is concentrated to a DS content sufficient for spray drying if the final product is malto-dextrin or glucose syrup solids.
The finished product is refined and evaporated to the necessary DS content (Dry Substance, stated in%) if it is glucose, maltose, or liquid dextrose syrup. Syrups often contain 70–80% DS.
The hydrolysate is concentrated to the necessary DS content for further processing if the ultimate product is dextrose monohydrate, anhydrous dextrose, fructose syrup, or sorbitol.
Crystallization: The process of dextrose monohydrate manufacturing involves cooling crystallization. The crystallizers might have agitators and cooling facilities and come in vertical or horizontal configurations. As a second stage of crystallization for anhydrous dextrose, an automatically controlled vacuum crystallizer is employed.
Fractionation: Fructose and dextrose must be separated using chromatography to increase the fructose content of the isomerized dextrose syrup. The dextrose and fructose solution are passed through a column of specialized resin, which separates it into a fructose fraction and a dextrose fraction.
Hydrogenation: By catalytically hydrogenating a purified dextrose hydrolysate in specific reactors made for high pressure and temperature operation, sorbitol and other polyols are created. The reactors have a powerful agitation mechanism, as well as heating and cooling systems.
Fluid Bed Drying: This includes allowing air to flow through a bed of particles to create a fluidized state. Fluid bed dryers are chosen because they can handle the crystalline sweetener products' particle structure the best.
Spray Drying: One of the crucial methods for powdering liquid sweetener formulations is constant drying. Droplets of the feed are atomized and then injected into a regulated flow of heated air. As each droplet of moisture dries, particles form, and the dried product is released from the drying chamber. Moreover, several spray dryer designs are chosen according on the sweetener.
Furthermore, after the manufacturing process, the products undergo certain regulations before marketing it to the end users. For instance, in Europe, a food additive must be identified on the food packaging by the name of the category it belongs to (in this case, "sweetener"), followed by its specific name or, if relevant, an E number. This technique increases the product's value by up to 36% to 90%.
5.1.3 PACKAGING
Packaging is usually considered as a final step in the value chain of any product. The packaging of the sugar reducing ingredients protects the quality of the product. It protects the product from both internal and external damage. The finished goods are delivered to the packing section, where they are placed into boxes, cartons, and other packaging, either manually or automatically. The packaging includes labeling with details like expiration date, manufacturing date, and certifications. Different manufacturers offer different packaging options. Manufacturers emphasize convenience packaging to draw customers, which may lead to brand loyalty. Packaging is the last step in the value chain, after which the product is sent to the dealers and retailers. This step delivers up to 91%–100% value to the product.
5.2 SUPPLY CHAIN ANALYSIS
The supply chain includes the activities and players involved in producing and distributing a commodity, from the procurement of raw materials to the final delivery of the product to end users. It is a system of managing the flow of goods and services from the point of origin to the point of consumption. It is an integrated method of transforming materials into the final product, ready to be delivered to the end consumers.
Global sugar reducing ingredients market supply chain has constantly been evolving to increase workflow efficiency, including procurement/sourcing, manufacturing, distribution, and end-users. Also, the companies are reworking their technologies deployed in raw material sourcing and distribution strategies due to the challenges posed by the aftermath of the COVID-19 pandemic. Several stages are involved in the supply chain, including, raw material sourcing, manufacturing, distribution, and end users. Thus, a supply chain analysis for sugar-reducing ingredients, which holds a significant position in the market, has been explained below.
FIGURE 13 GLOBAL SUGAR REDUCING INGREDIENTS MARKET: SUPPLY CHAIN ANALYSIS
Source: MRFR Analysis
5.2.1 RAW MATERIALS SOURCING
Corn, wheat, potato, rice and others are the primary raw materials, procured from suppliers that are present domestically and from overseas countries. Corn is the base for sugar reducing ingredients manufacture and account for a larger percentage of the product. An uninterrupted supply of high-quality components not only increases the shelf-life of the final product but also enhances its appeal and taste. Any variation in the quality of the material supply impacts the manufacturing process.
5.2.2 MANUFACTURING
Post-sourcing the necessary raw materials, the manufacturers transform the raw materials into finished products according to the process methods and specifications approved by the research and development. The manufacturing of sugar reducing ingredients comprises several steps starting from liquefaction, saccharification, filtration of insoluble components, carbon treatment, ion exchange, concentration by evaporation, crystallisation, isomerization, fractionation, hydrogenation, fluid bed drying and spray drying. All the steps are crucial in determining the final product, however, depending upon the type of sweetener needed various types of spray dryers are designed.
Quality inspection is carried out after the final stage to assess and ensure the quality standards and shelf life of the sugar reducing ingredients. The finished product is packed in boxes or cartons based on the quantity and type of sugar reducing ingredients. With the increasing focus on the sustainability of the product, manufacturers are preferring to pack on eco-friendly packaging like paper bags and other options to capitalize on the demand from environmental consciousness consumers.
5.2.3 DISTRIBUTION
The finished products are purchased through various distribution channel modes such as B2B and B2C. These distribution channels help in determining the movement of sugar reducing ingredients in different end-user segments. Moreover, strong communication and relationships between the companies and different stakeholders of the distribution channel help in a better understanding of the customer feedback on the product and the quality. Most B2C consumers read online reviews and seek information regarding the product on blogs and product-related websites before finalizing the purchase of a product from a particular brand. Thus, constant innovation and development based on customer feedback play a vital role in the effective distribution and sales of sugar reducing ingredients.
5.2.4 END-USER
Food and Beverage manufacturers such as bakery and confectionary, beverages, dairy and desserts, savory as well as snacks and pharmaceutical sector are the primary end users of sugar reducing ingredients who purchase sugar reducing ingredients for adding it in food as well as beverages products owing to the increasing health-conscious population looking for reduced sugar products. The large pool of people suffering from diabetes as well as cardiovascular diseases has compelled manufacturers to incorporate reduced sugar ingredients in their products which in turn is expected to positively influence its market growth.
5.3 PORTER'S FIVE FORCES MODEL
Michael Porter's Five Forces model is a framework for studying the sugar reducing ingredients market. Strategic business managers trying to gain an edge over competing firms in the sugar reducing ingredients market can utilize this model to comprehend better the industry in which the company operates. The components of each of the forces and the degree of impact of each component in the context of the sugar reducing ingredients market have been broken down and analyzed.
FIGURE 14 PORTER'S FIVE FORCES ANALYSIS OF THE GLOBAL SUGAR REDUCING INGREDIENTS MARKET
Source: Industry Expert, Secondary Research, and MRFR Analysis
5.3.1 BARGAINING POWER OF SUPPLIERS
The raw material in the global sugar reducing ingredients market includes corn, wheat, rice, potato many more. The presence of limited number of suppliers across the globe tends to moderately affect the bargaining power of suppliers in the global sugar reducing ingredients market. For example, Ingredion Incorporated is a leading provider of ingredient solutions serves clients in more than 120 countries. For the food, beverage, paper and corrugating, brewing, and other industries, the company transforms grains, fruits, vegetables, and other plant resources into value-added components and biomaterial solutions. Moreover, market players enter into partnerships and agreements with raw materials producers and suppliers to ensure a continuous, uninterrupted supply. For example, in May 2021, Amyris Inc., a leader in sustainable and natural ingredient supply and a synthetic biotechnology company active in the Clean Health and Beauty markets through its consumer brands, recently announced that it has reached an agreement with Ingredion Incorporated, a leading global provider of ingredient solutions to the food and beverage sector, for the exclusive licensing of Amyris's fermented Reb M sweetener, which has zero calories and is derived from natural sources. The arrangement also contains a minority ownership position for Ingredion in the currently under construction Amyris Brazilian manufacturing site.
Hence, the bargaining power of suppliers in the global sugar reducing ingredients market is expected to be moderate.
5.3.2 BARGAINING POWER OF BUYERS
The presence of limited established sugar reducing ingredients manufacturers operating in the region, increases availability and decreases the switching costs for buyers. For instance, Cargill Incorporated is a global producer, distributor, and marketer of food and agricultural products. Cargill Incorporated a privately held global food company that deals in food, agriculture, financial and industrial products, and services. It has a broader portfolio of products that includes grain & oilseeds, animal and health nutrition, bioindustries, and food and beverages. Furthermore, in January 2023, to help food makers accomplish the most difficult fiber enrichment and sugar reduction requirements while enhancing the nutritional profile of foods and beverages, Cargill invested USD 40.69 million in its factory in Wroclaw, Poland. Cargill soluble fiber was introduced at the end of 2022. This further results in moderately affecting bargaining power of buyers. The number of buyers in the global market is high and diversified, due to which manufacturers provide products with differentiated and innovative features.
Hence, the bargaining power of buyers in the global sugar reducing ingredients market is expected to be moderate.
5.3.3 THREAT OF NEW ENTRANTS
Moderate capital investments required to produce sugar reducing ingredients with various innovations favor the entry of new players in the global sugar reducing ingredients market. However, the presence of established players in the market act as a challenge for new entrants to establish their brands. For instance, Archer Daniels Midland Co (ADM) specializes in manufacturing food and beverage ingredients and other varieties of agricultural products. The company provides natural flavors and colors, health and nutrition products, vegetable oil, corn sweeteners, flour, animal feed, and biofuels. Furthermore, stringent government regulation related to packaging of junk food and beverages may also exert an entry barrier. Thus, the threat to new entrants in the global sugar reducing ingredients market is expected to be moderate during the forecast period.
Hence, the threat of new entrants in the global sugar reducing ingredients market is expected to be moderate.
5.3.4 THREAT OF SUBSTITUTES
There are substitute for sugar reducing ingredients i.e., liquid sugar. Liquid sugar is a white granulated sugar which is usually dissolved in water and are used in drinks. Thus, the threat of substitutes in global sugar reducing ingredients market is expected to be high during the forecast period.
Hence, the threat of substitutes in the global sugar reducing ingredients market is expected to be high.
5.3.5 INTENSITY OF RIVALRY
A high intensity of rivalry marks the global sugar reducing ingredients market due to the presence of numerous local and global manufacturers. The established players in the market are targeting competitors in terms of quality, price, and product differentiation, thus making the industry competitive and reducing profit potential for the existing firms. The key players invest in product development by introducing various sugar reducing ingredients to bring about innovation in their product lines and meet changing consumer preferences. For example, In July 2021, Cargill invested USD 45 million to add soluble fibres to its European portfolio of starches, sweeteners, and texturizers as demand for reduced-sugar products rises. Cargill has obtained an exclusive licence as well as been granted patents based on micro-reactor technology created in collaboration with the Karlsruhe Institute for Technology in Germany. The soluble fibres allow for a 30 percent reduction in sugar.
Hence, the intensity of rivalry in the global sugar reducing ingredients market is expected to be high.
5.4 IMPACT OF INFLATION ON GLOBAL SUGAR REDUCING INGREDIENTS MARKET
Inflation of sugar reducing ingredients has been very prominent across all the regions of the world owing to the lower yields of sugarcane. For instance, the current cane crop in Mexico, according to government officials, will not be able to meet the US goal quantity of 1.3 million tonnes since it only has roughly 1 million tonnes available for export after suffering from reduced yields due to unfavorable weather throughout its production cycle. In comparison to the current US Department of Agriculture expectation of 5.9 million tonnes, estimates for Mexico's sugar production in 2022–2023 ranges from 5.5 million to around 5.8 million tonnes. But government officials claimed that to meet both domestic demand in Mexico and the export cap from the United States, output levels in Mexico would need to be closer to 6 million tonnes. The government officials estimated Mexico would produce 5.5 million tonnes. Government representatives acknowledged the country's production problems with sugar but argued that Mexico's sales of sugar to the United States were unaffected. Atypical rains in November and December that hampered sugar yield made it impossible to predict overall production levels for 2022–23, according to the government, this would likely be countered by the historically large number of acres planted to sugar cane. Furthermore, prices for corn sweeteners may increase in 2024 depending on sugarcane prices, but they may also do so due to unexpected product demand and restricted refining capacity.
Further, stevia prices were also continuing to increase owing to the increased demand of reduced sugar ingredients among consumers. For example, according to Procurement Resource the cost of stevia increased from 62880 USD/MT in January to 62199.14 USD/MT in June 2022 on the local Chinese market. By the conclusion of the second quarter, the average price of stevia in the USA was 68240.36 USD/MT. Despite being the region most severely impacted by the Russia-Ukraine crisis, European prices remained consistent. Towards the end of the period, the average price of stevia in Germany was 64854.82 USD/MT. According to Procurement Resource, stevia's pricing will likely to hold steady in the upcoming quarter. Given the booming downstream demand, the prices are anticipated to experience small variations despite the increased output entering the market and the building of ports.
However, some companies were able to cope up with the inflation by adopting various strategies such as by persuading consumers to pay more on soda and chips. For instance, in July 2022, Pepsico Inc. won the war against inflation by convincing customers to pay more for soda and chips while successfully passing on rising commodity costs. The food and beverage juggernaut charged customers around 12% more on average in the second quarter due to higher prices for basic materials like sugar and rising labor costs. The higher pricing allowed PepsiCo to raise its profit forecast, stating that it anticipates revenue to expand by 10% this year, even if inflation-conscious consumers only modestly increased the amount of food and beverages they bought from the company.
5.5 SUSTAINABILITY IN SUGAR REDUCING INGREDIENTS MARKET
The increasing concern among consumers regarding the environmental impact as well as the presence of various government bodies supporting sustainability is likely to propel its market growth. As a part of this, Bonsucro is a leading global sustainability platform and standard for sugarcane, one of the most important crops worldwide. Its goal is to accelerate sugarcane production and utilization in a sustainable manner. It brought together more than 300 members from more than 50 nations to discuss pressing issues affecting the sugarcane industry and to advance performance and impact through framework of sustainability standards. In addition, it deals with all sugarcane derivatives and products, including sugar, ethanol, molasses, and bagasse, in both established and emerging markets, ranging from ethanol and sugar to biofuels and bioplastics.
Besides this, the adoption of sustainable farming practices by various companies which are further incorporated in its products is expected to positively influence its market growth. For example, in July 2021, Ferrero has achieved its goal of obtaining all its refined cane sugar from responsibly managed sources. Several socioeconomic issues, including subpar working conditions, low wages, and poor health and safety conditions, are brought on by the rise in sugarcane production worldwide. The key to Ferrero's sustainability path has been collaboration, and the company has built enduring relationships with reliable suppliers. The team has rigorously assessed the certification programs that are now available over the years to understand their reliability, environmental impact, and resource and cost effectiveness to grow its sustainable sugarcane supply chain. Ferrero joined Bonsucro in 2010 and received the organization's first leadership award in 2014 for its commitment to the growth of a long-lasting sugarcane sector. Ferrero accomplished its goal of using only sustainably produced cane sugar last year, beating its original deadline of the end of 2020. The group is in favor of buying cane sugar that has received Bonsucro certification as well as Altromercato, an Italian company that supports Mauritius's smallholder cane growers through a Fairtrade supply chain.
Moreover, in September 2022, Ingredion Incorporated, a leading global provider of value-added ingredient solutions, strengthened the global sustainable ingredients supply chain for food and beverage (F&B) makers with the expansion of Shandong South, a new production facility in Shandong, China. With this most recent launch, Ingredion doubles its domestic starch production capacity and capabilities. The texture of regular meals is improved and enhanced by starches, which are among the most versatile and important substances in the world. Ingredion is well-positioned to meet this growth with its increased starch production capacity and produce winning textures for food and beverage businesses as the need for starches increases globally, with Asia Pacific dominating the industry. Advanced digital technology and automation are present in Shandong South, which allows to develop corn-based native and modified starch products that match global quality standards.
Furthermore, the major players supporting sustainable honey production with are further incorporated into a wide range of food and beverage is set to boost its market growth. For example, Siemens Gamesa, focuses on the "sustainable honey production" initiative, a project aimed at enhancing beekeeping development, an activity that aids in the creation of sustainable livelihoods, in keeping with its purpose, vision, and values. Also, the project is being carried out in an area of South America with one of the lowest rates of human growth, but where wind energy is an important component of the local economy. A project like "sustainable honey production" promotes linkages between beekeeping regions, enterprises, and the local community.
5.6 IMPACT OF COVID-19 OUTBREAK ON GLOBAL SUGAR REDUCING INGREDIENTS MARKET
The onset of COVID-19 has resulted in a global crisis. The pandemic, affecting many nations throughout the world, has already impacted the global economy and is likely to cause chaos, leading to global revocation. People's life has been entirely turned upside down by the COVID-19 outbreak, owing to its growing cases every day. Different industries are affected by COVID-19 differently. Every area of the economy experienced growth after the pandemic. This pandemic has impacted the commodity market in numerous ways. However, various initiatives were taken by the government bodies in various regions worldwide to recover the region from post-pandemic. For instance, in May 2020, the US government invested USD 2.2 trillion economic rescue package for U.S. businesses affected the most during the pandemic, including the automotive sector. A few impacts of the outbreak on the sugar reducing ingredients market have been discussed below.
5.6.1 IMPACT ON PRODUCTION
The COVID-19 outbreak has influenced the whole production process, from the procurement of raw materials to production, packaging, and distribution. The whole production process for the sugar reducing ingredients sector has suffered because of the outbreak. Providing sugar reducing ingredients to various manufacturers has been delayed because of lockdown restrictions make it more difficult to transfer the raw materials required to create them. Both domestic and international companies provide the basic materials used to make sugar reducing ingredients. Due to the necessity of sealing international borders, low quantities of these sugar reducing ingredients were being produced. Delivering manufacturing units to stores has become more challenging for distributors due to lockdown restrictions. Even though there is a huge demand for sugar reducing ingredients worldwide, the sectors are all experiencing major shortages.
5.6.2 IMPACT ON SUPPLY CHAIN
The whole supply chain has been severely affected owing to the covid-19 pandemic as most of the sugar reducing ingredients manufacturers were from China. For instance, according to MRFR analysis, the leading beverage company Coca-Cola experience delay in its artificial sweetener from China owing to the novel coronavirus outbreak. This usually affected the production of its diet and no-sugar drinks such as Coco-Cola, Sprite, Fanta, Aquarius, as well as Minute Maid. Moreover, the company usually purchase non-nutritive sweeteners such as sucralose from suppliers across the United States and China, whereas the other non-nutritive sweeteners used in its products include aspartame, acesulfame potassium, saccharin, cyclamate, and steviol glycosides. However, as the covid-19 cases are decreasing, things are turning normal as well as positively impacting the supply chain.
5.6.3 IMPACT ON PRICING
The prices of sugar reducing ingredients have been stable for the last few years. Although the outbreak has impacted sugar reducing ingredients prices, the prices are expected to spike post-lockdown owing to the disruptions in logistic activities. The manufacturers are expected to increase sugar reducing ingredients prices due to the increased operational and raw material costs and to make up for the losses caused due to the outbreak. Also, they might not provide any discounts and offers on sugar reducing ingredients to stabilize the profit margins.
5.6.4 IMPACT ON CONSUMER BUYING BEHAVIOUR
When COVID-19 was originally discovered in March 2020, numerous nations decided to restrict international travel. Therefore, most of the populace was urged to remain inside and conduct business from home. Due to several factors, the sales of sugar reducing ingredients demand have become stable.
Patients with diabetes became more proactive in cutting sugar from their diets to prevent obesity and maintain their fitness through this difficult time because the virus was more deadly for those with serious medical issues and low immunity. They started eating ketogenic diets and shifted to sugar-free goods to boost their resistance to the fatal illness. India is rated second in the world for diabetes because Indians love sugar and sweets so much. Yet, the sugar consumption pattern abruptly shifted as humans grew more conscious. Moreover, according to recent study, 74% of adults restrict or eliminate sugar from their diet. Every person on planet had their eyes opened by the pandemic. It introduced them to fresh, nutritious options like sugar substitutes made from Stevia leaves, which have no calories, are organic, and don't affect blood sugar levels.
5.6.5 IMPACT ON OFFLINE VS ONLINE SALES
With lockdown restrictions of many retail stores across the globe, many manufacturers of sugar reducing ingredients are expected to move into the online/e-commerce channels. E-commerce channels are proving to be a life saver during these tough times. Individuals are also well accepting this move as they feel safe instead of going out to retail stores to buy sugar reducing ingredients and increase the chances of getting infected from coronavirus. This is evident from the fact that many e-commerce channels have witnessed triple-digit growth rates in sales of various food products. For instance, according to the EIT Food study on COVID-19 effect analysis, online food purchases increased by 54% in the UK during the pandemic and by a similar amount in other nations such as Poland, Sweden, Romania, Italy, etc.. Thus, the trend of online purchases of reduced sugar ingredients is expected to continue the trend in the upcoming years and the market players are expected to increase their investments in e-commerce sales channels to capitalize on increasing demand. Hence, under the current scenario, sugar reducing ingredients manufacturers are expected to have lucrative growth opportunities. Individuals across the globe are also anticipated to perceive online channels to be a safer mode for purchasing sugar reducing ingredients for personal use. This is expected to create a long-lasting opportunity for online channels to increase their shares of sales in the coming years.
6 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY FUNCTION
6.1 OVERVIEW
Based on the function, the global sugar reducing ingredients market has been segmented into sweeteners, bulking agents, and texturants. The bulking agents segment accounted for the market share of 47.66% in 2021 and is likely to grow at a CAGR of 5.64% during the forecasted period. The sweeteners segment is the second largest share of 35.41% in 2021.
FIGURE 15 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY FUNCTION, 2021 (% SHARE)
Source: Industry Experts, Secondary Research, and MRFR Analysis
FIGURE 16 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY FUNCTION, 2020–2030 (USD MILLION)
Source: Industry Experts, Secondary Research, and MRFR Analysis
6.1.1 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY FUNCTION, 2020–2030
TABLE 3 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY FUNCTION, 2020–2030 (USD MILLION)
By Function 2020 2021 2022 2030 CAGR (2022-2030)
Sweeteners 11,042.10 XXX XXX XXX XXX
Bulking agents 14,812.50 XXX XXX XXX XXX
Texturants 5,294.50 XXX XXX XXX XXX
Total 31,149.09 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
6.2 SWEETENERS
Sweeteners are ingredients that are generally used as a replacement for sugar and provide a greater taste with a complete replacement. The high-intensity sweeteners also referred to as non-nutritive sweeteners and noncaloric sweeteners, are known for the superior sweetness provided by them compared to conventional sugar, thus used in very low quantities in product development. Aspartame, saccharin, sucralose, and stevioside are a few examples of high-intensity sweeteners. Sweeteners are used in both food & beverages and pharmaceutical applications. In pharmaceutical formulations, sweeteners are used for sweetening the taste and boosting the palatability of the drug formulations. Acesulfame potassium, alitame, aspartame, and sucralose are some examples of sweeteners used in pharmaceutical formulations.
Owing to the consumer’s demand for sugar-reduced products, players are manufacturing sweeteners that are intended for sugar reduction in food & beverages specifically. For instance, the Eversweet stevia sweetener of Cargill is developed for achieving sugar reduction in food & beverage products. The trend of clean-label products is driving the growth of the segment and constant innovation in the sweeteners is expected to create opportunities for the segment during the forecast period. For instance, ADM’s SweetRight Edge stevia is extracted and purified in such a way the off-notes are lessened and don’t require taste modifiers or flavor maskers in the end product application.
6.2.1 SWEETENERS: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030
TABLE 4 SWEETENERS: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 (USD MILLION)
By Region 2020 2021 2022 2030 CAGR (2022-2030)
North America 2,918.78 XXX XXX XXX XXX
Europe 1,812.80 XXX XXX XXX XXX
Asia-Pacific 4,146.62 XXX XXX XXX XXX
Rest of the World 2,163.90 XXX XXX XXX XXX
Total 11,042.10 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
6.3 BULKING AGENTS
Bulking agents, a carbohydrate ingredient that provides calories and adds bulk to the food. Sugar’s role is not only constrained to sweetening functionality in the products but also provides bulk to the products like calories and fiber. XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX.
6.3.1 BULKING AGENTS: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030
TABLE 5 BULKING AGENTS: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 (USD MILLION)
By Region 2020 2021 2022 2030 CAGR (2022-2030)
North America 3,933.76 XXX XXX XXX XXX
Europe 2,435.55 XXX XXX XXX XXX
Asia-Pacific 5,533.61 XXX XXX XXX XXX
Rest of the World 2,909.57 XXX XXX XXX XXX
Total 14,812.50 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
6.4 TEXTURANTS
Texturants also called texturizers are used for sugar reduction, altering and improving the texture of the food in addition to the calibrating mouthfeel, viscosity, stability, and delicacy of the product. XXXXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX XXX XXX XXXX XXX XXX.
6.4.1 TEXTURANTS: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030
TABLE 6 TEXTURANTS: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 (USD MILLION)
By Region 2020 2021 2022 2030 CAGR (2022-2030)
North America 1,411.32 XXX XXX XXX XXX
Europe 869.45 XXX XXX XXX XXX
Asia-Pacific 1,985.11 XXX XXX XXX XXX
Rest of the World 1,028.63 XXX XXX XXX XXX
Total 5,294.50 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
7 GLOBAL SUGAR REDUCING INGREDIENTS MARKET,
BY APPLICATION
7.1 OVERVIEW
Based on application, the global sugar reducing ingredients market has been segmented into food & beverage and pharmaceuticals & nutraceuticals. The food & beverage segment is further segmented into bakery & confectionery, beverages, dairy & desserts, and snacks & savory. The food & beverage segment is the largest segment accounting for a share of 79.73% and is likely to grow at a rate of 5.63% during the forecast period.
FIGURE 17 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY APPLICATION, 2021 (% SHARE)
Source: Industry Experts, Secondary Research, and MRFR Analysis
FIGURE 18 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY APPLICATION, 2020–2030 (USD MILLION)
Source: Industry Experts, Secondary Research, and MRFR Analysis
7.1.1 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY APPLICATION, 2020–2030
TABLE 7 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY APPLICATION, 2020–2030 (USD MILLION)
By Application 2020 2021 2022 2030 CAGR (2022-2030)
Food & Beverage 24,781.98 XXX XXX XXX XXX
o Bakery & confectionery 6,296.47 XXX XXX XXX XXX
o Beverages 10,720.53 XXX XXX XXX XXX
o Dairy & Desserts 3,275.92 XXX XXX XXX XXX
o Snacks & Savory 4,489.05 XXX XXX XXX XXX
Pharmaceuticals & Nutraceuticals 6,367.12 XXX XXX XXX XXX
Total 31,149.09 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
7.2 FOOD & BEVERAGE
The food & beverage sector is the leading user of sugar-reducing ingredients in various products. Sugars are one of the key ingredients of a range of food & beverage products and have several properties including palatability, flavor, texture, mouthfeel, volume, color, etc. making them an indispensable part of product development. However, excessive sugar consumption has several health implications which have resulted in governments implementing several initiatives to reduce sugar consumption and a shift in consumer preference. The above-said factors are pushing the food & beverage manufacturers to innovate and launch sugar-reduced products with no compromise in other factors of the final product.
7.2.1 BAKERY & CONFECTIONERY
Sugar plays multiple and dynamic roles in bakery & confectionery products including taste, rheology of dough/batter, appearance, moisture content, binding, and acts as a fermentation activating agent, among various other factors. XXXX XX XXXX XXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX.
7.2.2 BEVERAGES
The beverage segment has been at the forefront of sugar reduction in the food & beverage sector. XXXX XX XXXX XXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX.
7.2.3 DAIRY & DESSERTS
Dairy & Desserts products including yogurt, ice cream, flavored milk, etc. The freezing point depression and crystallization in frozen desserts are impacted by the sugar ingredient while reducing sugar levels in these products listen in a crunchy texture instead of the traditional smooth and creamy texture. XXXX XX XXXX XXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX.
7.2.4 SNACKS & SAVORY
The snacks & Savory segment includes products like fruit bars, energy-boosting bars, nutrition bars, granola bars, savory sauces, etc. XXXX XX XXXX XXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX XXXX XX XXXX XXX XXX.
7.2.5 FOOD & BEVERAGE: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030
TABLE 8 FOOD & BEVERAGE: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 (USD MILLION)
By Region 2020 2021 2022 2030 CAGR (2022-2030)
North America 6,572.05 XXX XXX XXX XXX
Europe 4,070.67 XXX XXX XXX XXX
Asia-Pacific 9,287.82 XXX XXX XXX XXX
Rest of the World 4,851.45 XXX XXX XXX XXX
Total 24,781.98 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
7.3 PHARMACEUTICALS & NUTRACEUTICALS
Pharmaceuticals & Nutraceuticals comprise dietary supplements, infant formula/baby food, dental care formulations, medicated gums, and nutraceutical gummies. XXX XXX XXX XXX XXX XXXX XXXX XXX XXX XXX XXX XXX XXXX XXXX XXX XXX XXX XXX XXX XXXX XXXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXXX XXXX XXX XXX XXX XXX XXX XXXX XXXX XXX XXX XXX XXX XXX XXXX XXXX XXX XXX XXX XXX.
7.3.1 PHARMACEUTICALS & NUTRACEUTICALS: MARKET ESTIMATES & FORECAST,
BY REGION, 2020–2030
TABLE 9 PHARMACEUTICALS & NUTRACEUTICALS: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 (USD MILLION)
By Region 2020 2021 2022 2030 CAGR (2022-2030)
North America 1,691.80 XXX XXX XXX XXX
Europe 1,047.13 XXX XXX XXX XXX
Asia-Pacific 2,377.52 XXX XXX XXX XXX
Rest of the World 1,250.66 XXX XXX XXX XXX
Total 6,367.12 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
8 GLOBAL SUGAR REDUCING INGREDIENTS MARKET,
BY DISTRIBUTION CHANNEL
8.1 OVERVIEW
Based on the distribution channel, the global sugar reducing ingredients market has been segmented into B2B and B2C. The B2B segment accounted for the largest market share of 70.31% in 2021 and is likely to grow at a rate of 5.30% during the projected period whereas the B2C segment is likely to grow at a higher CAGR of 5.62% during the forecast period.
FIGURE 19 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY DISTRIBUTION CHANNEL, 2021 (% SHARE)
Source: Industry Experts, Secondary Research, and MRFR Analysis
FIGURE 20 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY DISTRIBUTION CHANNEL, 2020–2030
(USD MILLION)
Source: Industry Experts, Secondary Research, and MRFR Analysis
8.1.1 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST,
BY DISTRIBUTION CHANNEL, 2020–2030
TABLE 10 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION)
By Distribution Channel 2020 2021 2022 2030 CAGR (2022-2030)
B2B 21,921.02 XXX XXX XXX XXX
B2C 9,228.07 XXX XXX XXX XXX
Total 31,149.09 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
8.2 B2B
B2B stands for the business-to-business transaction, is a type of trade of products between two business units meaning both the suppliers and buyer of the product are business firms where the buyer firm uses the product or service procured from the supplier as ingredients in the product development or a product for further businesses. XXX XXX XXXX XXX XXX XXXX XXX XXXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX XXX XXX XXXX XXX XXX XXXX XXX XXXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX.
8.2.1 B2B: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030
TABLE 11 B2B: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 (USD MILLION)
By Region 2020 2021 2022 2030 CAGR (2022-2030)
North America 5,811.74 XXX XXX XXX XXX
Europe 3,602.18 XXX XXX XXX XXX
Asia-Pacific 8,211.40 XXX XXX XXX XXX
Rest of the World 4,295.70 XXX XXX XXX XXX
Total 21,921.02 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
8.3 B2C
Business-to-consumer is a type of commerce activity where the products are sold directly to consumers from the organization for the customers' end-use. Consumers nowadays are taking several initiatives to reduce sugar intake in home cooking and baking. XXXX XXX XXX XXXX XXX XXX XXXX XXX XXXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX XXXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX XXX XXXX XXX.
8.3.1 B2C: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030
TABLE 12 B2C: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 (USD MILLION)
By Region 2020 2021 2022 2030 CAGR (2022-2030)
North America 2,452.11 XXX XXX XXX XXX
Europe 1,515.61 XXX XXX XXX XXX
Asia-Pacific 3,453.94 XXX XXX XXX XXX
Rest of the World 1,806.41 XXX XXX XXX XXX
Total 9,228.07 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
9 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY REGION
9.1 OVERVIEW
Based on region, the global sugar reducing ingredients market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region accounted for the largest market share of 37.54% in 2021 and is likely to register a CAGR of 5.66% during the projected period. The North America region is the second largest market with a share of 26.56% in 2021.
FIGURE 21 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY REGION, 2021 (% SHARE)
Source: Industry Experts, Secondary Research, and MRFR Analysis
FIGURE 22 GLOBAL SUGAR REDUCING INGREDIENTS MARKET, BY REGION, 2020–2030 (USD MILLION)
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.1.1 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST,
BY REGION, 2020–2030
TABLE 13 GLOBAL SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030
(USD MILLION)
By Region 2020 2021 2022 2030 CAGR (2022-2030)
North America 8,263.85 XXX XXX XXX XXX
Europe 5,117.80 XXX XXX XXX XXX
Asia-Pacific 11,665.34 XXX XXX XXX XXX
Rest of the World 6,102.11 XXX XXX XXX XXX
Total 31,149.09 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.2 NORTH AMERICA
North America region includes the US, Canada, and Mexico. World Health Organization (WHO) has taken several initiatives to regulate sugar consumption and reduce sugar intake. XXX XXXX XXXX XXXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXX XXXXXXXXX XXXXXXXXXXXXX XX X X XX X X X XXXXXXXXX XXXXXXXXXXX XXXXXXXXX XXX XXXX XXXX XXXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXX XXXXXXXXX XXXXXXXXXXXXX XX X X XX X X X XXXXXXXXX XXXXXXXXXXX XXX XXXX XXXX XXXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXX XXXXXXXXX XXXXXXXXXXXXX XX X X XX X X X XXXXXXXXX XXXXXXXXXXX XXXXXXXXX XXX XXXX XXXX XXXXXXXXXXXXXXXXXXXXXXXXXXXX XXXXXXX XXXXXXXXX XXXXXXXXXXXXX XX X X XX X X X XXXXXXXXX XXXXXXXXXXX.
FIGURE 23 NORTH AMERICA: SUGAR REDUCING INGREDIENTS MARKET SHARE, BY COUNTRY, 2021 (% SHARE)
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.2.1 NORTH AMERICA SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY COUNTRY, 2020–2030
TABLE 14 NORTH AMERICA: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2020–2030 (USD MILLION)
Country 2020 2021 2022 2030 CAGR (2022-2030)
U.S. 6,389.61 XXX XXX XXX XXX
Canada 813.99 XXX XXX XXX XXX
Mexico 1,060.25 XXX XXX XXX XXX
Total 8,263.85 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.2.2 NORTH AMERICA SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST,
BY FUNCTION, 2020–2030
TABLE 15 NORTH AMERICA: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION)
By Function 2020 2021 2022 2030 CAGR (2022-2030)
Sweeteners 2,918.78 XXX XXX XXX XXX
Bulking agents 3,933.76 XXX XXX XXX XXX
Texturants 1,411.32 XXX XXX XXX XXX
Total 8,263.85 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.2.3 NORTH AMERICA SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY APPLICATION,
2020–2030
TABLE 16 NORTH AMERICA: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION)
By Application 2020 2021 2022 2030 CAGR (2022-2030)
Food & Beverage 6,572.05 XXX XXX XXX XXX
o Bakery & confectionery 1,669.26 XXX XXX XXX XXX
o Beverages 2,837.67 XXX XXX XXX XXX
o Dairy & Desserts 863.04 XXX XXX XXX XXX
o Snacks & Savory 1,202.08 XXX XXX XXX XXX
Pharmaceuticals & Nutraceuticals 1,691.80 XXX XXX XXX XXX
Total 8,263.85 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.2.4 NORTH AMERICA SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST,
BY DISTRIBUTION CHANNEL, 2020–2030
TABLE 17 NORTH AMERICA: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION)
By Distribution Channel 2020 2021 2022 2030 CAGR (2022-2030)
B2B 5,811.74 XXX XXX XXX XXX
B2C 2,452.11 XXX XXX XXX XXX
Total 8,263.85 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.2.5 US
TABLE 18 US: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION)
By Function 2020 2021 2022 2030 CAGR (2022-2030)
Sweeteners 2,256.81 XXX XXX XXX XXX
Bulking agents 3,042.73 XXX XXX XXX XXX
Texturants 1,090.07 XXX XXX XXX XXX
Total 6,389.61 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 19 US: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION)
By Type 2020 2021 2022 2030 CAGR (2022-2030)
Food & Beverage 5,082.30 XXX XXX XXX XXX
o Bakery & confectionery 1,291.41 XXX XXX XXX XXX
o Beverages 2,194.03 XXX XXX XXX XXX
o Dairy & Desserts 666.80 XXX XXX XXX XXX
o Snacks & Savory 930.06 XXX XXX XXX XXX
Pharmaceuticals & Nutraceuticals 1,307.31 XXX XXX XXX XXX
Total 6,389.61 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
TABLE 20 US: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION)
By Distribution Channel 2020 2021 2022 2030 CAGR (2022-2030)
B2B 4,492.54 XXX XXX XXX XXX
B2C 1,897.08 XXX XXX XXX XXX
Total 6,389.61 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.2.6 CANADA
9.2.7 MEXICO
9.3 EUROPE
Europe region consists of Germany, the UK, France, Spain, Italy, and the Rest of Europe. The report named “Incentives and disincentives for reducing sugar in manufactured foods – An exploratory supply chain analysis: published by WHO highlighted that European consumers are incorporating high levels of sugar in their diets. It stated that the average sugar consumption of the UK and Denmark's young population is 40 grams a day. Cakers, soft drinks, chocolates, biscuits, and pastries are some of the key sources of this excessive sugar. This excessive sugar consumption results in several health issues, for instance, the WHO estimates highlighted that out of all the regions, WHO Europe is the most affected region by non-communicable diseases and an unhealthy diet is one of the contributing factors to such diseases. To overcome these health implications, the European Union (EU) and the countries in the region are engaged in several initiatives to reduce sugar consumption, significantly.
Imposing an excessive duty on sugar-containing food & beverage products including sugar-sweetened beverages, ice creams, and confectionery is one such initiative taken by the EU for sugar reduction. The Childhood Obesity Plan’s Sugar Reduction Programme of the UK government has directed manufacturers in the food industry to reduce the sugar content by 20% in 2020 which has positively impacted the growth of sugar-reducing ingredients these years. For instance, the estimates of the Union of European Soft Drinks Associations highlighted that the European soft drinks industry has achieved a sugar reduction of approximately 17.7% over 2015-2021 and has goals to reduce an additional 10% further by 2025. Also initiatives like Public Health England guidelines on sugar reduction, and WHO European region’s Sugar and Calorie Reduction Network are driving the growth of the sugar-reducing ingredients market and are expected to create more lucrative opportunities during the forecast period.
In addition, in line with these growing trends of clean-label products and sugar reduction in food & beverage products, manufacturers are taking several initiatives to capitalize on the demand in the region. For instance, Ingredion EMEA in June 2022, conducted a campaign named ‘Taste Sweet Liberation’ for illustrating the application of sweeteners and texturizers as sugar-reducing ingredients in food and beverage products. The campaign provided end-use industries to try products with sugar-reducing ingredients. Companies like Coca-Cola and Pepsico have also reduced the sugar content in their products Sprite and 7UP respectively by 33% and 50% in the period 2016 and 2017 using several reduction technologies including the use of sugar-reducing ingredients.
FIGURE 24 EUROPE: SUGAR REDUCING INGREDIENTS MARKET SHARE, BY COUNTRY, 2021 (% SHARE)
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.3.1 EUROPE SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST,
BY COUNTRY, 2020–2030
TABLE 21 EUROPE: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2020–2030 (USD MILLION)
Country 2020 2021 2022 2030 CAGR (2022-2030)
Germany 1,110.05 XXX XXX XXX XXX
UK 944.23 XXX XXX XXX XXX
France 728.77 XXX XXX XXX XXX
Spain 427.85 XXX XXX XXX XXX
Italy 569.61 XXX XXX XXX XXX
Rest of Europe 1,337.28 XXX XXX XXX XXX
Total 5,117.80 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.3.2 EUROPE SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST,
BY FUNCTION, 2020–2030
TABLE 22 EUROPE: MARKET ESTIMATES, BY FUNCTION, 2020–2030 (USD MILLION)
By Function 2020 2021 2022 2030 CAGR (2022-2030)
Sweeteners 1,812.80 XXX XXX XXX XXX
Bulking agents 2,435.55 XXX XXX XXX XXX
Texturants 869.45 XXX XXX XXX XXX
Total 5,117.80 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.3.3 EUROPE SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST,
BY APPLICATION, 2020–2030
TABLE 23 EUROPE: MARKET ESTIMATES, BY APPLICATION, 2020–2030 (USD MILLION)
By Application 2020 2021 2022 2030 CAGR (2022-2030)
Food & Beverage 4,070.67 XXX XXX XXX XXX
o Bakery & confectionery 1,033.51 XXX XXX XXX XXX
o Beverages 1,757.81 XXX XXX XXX XXX
o Dairy & Desserts 539.24 XXX XXX XXX XXX
o Snacks & Savory 740.10 XXX XXX XXX XXX
Pharmaceuticals & Nutraceuticals 1,047.13 XXX XXX XXX XXX
Total 5,117.80 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.3.4 EUROPE SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST,
BY DISTRIBUTION CHANNEL, 2020–2030
TABLE 24 EUROPE: MARKET ESTIMATES, BY DISTRIBUTION CHANNEL, 2020–2030 (USD MILLION)
By Distribution Channel 2020 2021 2022 2030 CAGR (2022-2030)
B2B 3,602.18 XXX XXX XXX XXX
B2C 1,515.61 XXX XXX XXX XXX
Total 5,117.80 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.3.5 GERMANY
9.3.6 UK
9.3.7 FRANCE
9.3.8 SPAIN
9.3.9 ITALY
9.3.10 REST OF EUROPE
9.4 ASIA-PACIFIC
The Asia-Pacific region consists of China, India, Japan, Australia & New Zealand, and the Rest of Asia-Pacific. Around 227 million people in Asia-Pacific are diagnosed with type 2 diabetes, and 50% among them aren’t aware of the long-term implications of the disease, stated the managing director of BENO, Asia Pacific in the Food & Beverage Asia magazine. However, consumers are shifting to healthy lifestyle habits, the article further elaborated that the survey conducted among Singapore consumers has highlighted that around 66.67% of them are inclined towards adopting a healthier lifestyle and consumption habits. This trend is further fueled by the outbreak of the COVID-19 pandemic, making consumers conscious of the ingredients in food and drink products.
Owing to increased urbanization, rise in disposable income, and changing lifestyles in China and India has resulted in an increased frequency of snacking habit. Along with the increasing health awareness among Asia-Pacific consumers, manufacturers are also working on the launch and expansion of sugar-reduced products. For instance, in 2021, in Australia Famous Soda Co expanded its sugar-free confectionery offerings base to the South East Asian region. The expansion is part of the rising trend of better-for-you in the region, this increasing demand from food and manufacturers is fuelling the growth of the sugar-reducing ingredients market in the region. Another example is Sweegen, a supplier of sweeteners, texture, and flavoring agents in an interview with Asia Food & Beverages reported that its closely working with the manufacturers in the region for sugar reduction. For a dairy product manufacturer, the company has offered its e+ stevia sweetener and Yogurt Pro e+ Bestevia taste solution as a sugar-reducing agent for yogurt preparation. This solution helps in achieving plant-based solutions claims along with sugar reduction. The company further reported that it is seeing a wide range of opportunities with government initiatives on increasing the accessibility of stevia in the region.
Malaysian government reports stated that the incidence of overweight and obesity among the adult population has reached 47.7% in 2015 from 21.0% in 1996. To overcome the health issues due to high levels of sugar consumption, the nation’s government 2019 implemented a tax on sugary beverages that have added sugar of 5g or higher amount per 100ml of carbonated drinks. The tax was USD 0.09 per liter. In India, approximately 5.8 million people die due to various non-communicable diseases including diabetes, cardiovascular diseases, and cancer each year and the expert groups have confirmed that can be prevented with proper dietary habits. As a part of it, the government is working on implementing the front of the package labeling to achieve sugar reduction. Similar were the trends in other countries of the region including Thailand, the Phillippines, China, Singapore, etc. These increasing government initiatives are expected to create opportunities for sugar-reducing ingredient manufacturers during the forecast period in the region.
FIGURE 25 ASIA-PACIFIC: SUGAR REDUCING INGREDIENTS MARKET SHARE, BY COUNTRY, 2021 (% SHARE)
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.4.1 ASIA-PACIFIC SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST,
BY COUNTRY, 2020–2030
TABLE 25 ASIA-PACIFIC: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2020–2030 (USD MILLION)
Country 2020 2021 2022 2030 CAGR (2022-2030)
China 5,613.36 XXX XXX XXX XXX
Japan 1,198.03 XXX XXX XXX XXX
India 1,605.15 XXX XXX XXX XXX
Australia & New Zealand 1,103.54 XXX XXX XXX XXX
Rest of Asia-Pacific 2,145.26 XXX XXX XXX XXX
Total 11,665.34 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.4.2 CHINA
9.4.3 INDIA
9.4.4 JAPAN
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 REST OF ASIA-PACIFIC
9.5 REST OF THE WORLD
The rest of the world segment comprises South America, the Middle East, and Africa. The trend of better-for-you and sugar reduction is fueling the usage of sugar-reducing ingredients in South America. This is a result of various government initiatives like the front of the package labeling indicating the level of sugar in processed food & beverage products in Ecuador (in 2014) and Peru (in 2019); imposition of a higher tax on sugary beverages in Chile (2016); and signing of a group of beverage associations sugar reducing agreement with the Ministry of Health in Brazil (2018). Similar were the trends in Africa and other Middle East countries, for instance, South Africa introduced Health Promotion Levy on sweetened beverages an amount of 2.1 cents on each additional gram over and above 4g of sugar per 100ml.
In the middle east region, countries like the United Arab Emirates have launched an educative program on sugar & calorie reduction in the country in collaboration with UAE F&B Manufacturers Business Group. The program’s technical support was provided by Tate & Lyle, a leading supplier of sweeteners, and has emphasized various opportunities available in the sugar reduction market for the food & beverage sector. In addition, Tate & Lyle has separately launched a new campaign in November 2022 in Dubai named 30% Less Challenge. The challenge is aimed at reducing sugar and calorie intake and was implemented in complement to the famous Dubai Fitness Challenge (Dubai 30X30).
FIGURE 26 REST OF THE WORLD: SUGAR REDUCING INGREDIENTS MARKET SHARE, BY COUNTRY, 2021 (% SHARE)
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.5.1 REST OF THE WORLD SUGAR REDUCING INGREDIENTS MARKET ESTIMATES & FORECAST, BY COUNTRY, 2020–2030
TABLE 26 REST OF THE WORLD: MARKET ESTIMATES & FORECAST, BY REGION, 2020–2030 (USD MILLION)
Country 2020 2021 2022 2030 CAGR (2022-2030)
South America 3,194.83 XXX XXX XXX XXX
Middle East 976.34 XXX XXX XXX XXX
Africa 1,930.94 XXX XXX XXX XXX
Total 6,102.11 XXX XXX XXX XXX
Source: Industry Experts, Secondary Research, and MRFR Analysis
9.5.2 SOUTH AMERICA
9.5.3 MIDDLE EAST
9.5.4 AFRICA
10 COMPETITIVE LANDSCAPE
10.1 INTRODUCTION
The global sugar reducing ingredients market is projected to register a CAGR of 5.39% during the review period. The market's growth can be attributed to the surging demand for sugar reducing ingredients from food, beverages, and functional food industries. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX.
10.2 MARKET STRATEGY ANALYSIS
The key players operating in the sugar reducing ingredients market are Ingredion Incorporated, ADM, Cargill, Incorporated., Roquette Frères, DuPont, International Flavors & Fragrances Inc., GLG LIFE TECH CORP., Tate & Lyle, Kerry Group plc, and Südzucker AG are the front-runners in the market, owing to brand reputation, product differentiation, financial stability, and strong distribution network. In addition, the players are focused on lowering their environmental footprint and investing in research and development along with strategic growth initiatives such as acquisitions and product launches to strengthen their market position and capture a large consumer base.
The manufacturers are focusing on the incorporation of innovative ways to increase awareness regarding the health benefits associated with sugar reducing ingredients. The key players are also aiming at changing consumer behavior and lifestyle patterns and introducing the products and ingredients accordingly to generate more revenue. In addition, companies are also focusing on various innovative techniques and procedures for the launch and development of sugar reducing ingredinets. Environmental sustainability is another strategic factor that is being applied by the companies operating in the global sugar reducing ingredients market. These are the strategic steps taken by the manufacturers in the global sugar reducing ingredients on account of present and future scenarios to generate more profits and increase their revenues.
10.3 COMPETITIVE BENCHMARKING
The benchmarking is done by assessing the product range offered; operating locations globally; strategic partnerships, collaborations, and M&A carried out by the company in the sector; and product and based on the years of experience in the industry.
FIGURE 27 BENCHMARKING OF MAJOR COMPETITORS
Source: Annual Reports, Press Releases, Associations, Government Records, Journals, Expert Interviews, Secondary Research, and MRFR Analysis
10.4 KEY DEVELOPMENTS & GROWTH STRATEGIES
10.4.1 NEW PRODUCT LAUNCH
TABLE 27 NEW PRODUCT LAUNCH
Date Approach Development
November 2022 Launch Tate & Lyle announced the expansion of its product portfolio of reduced sugar alternatives as it launched Erytesse Erythritol – which contains 70% of the sweetness of sucrose and has zero calories.
November 2022 Launch Cargill Incorporated introduced its ingredients at the Food Ingredients Europe (FIE), such as a series of plant-based ingredients along with its soluble fibre sugar-reduction offerings for bakery and confectionery applications.
June 2022 Launch Ingredion Inc launches a new ad campaign in EMEA to create awareness regarding the product portfolio of texturizers and sweeteners to fulfill the surging demand of consumers for improved Nutri-Score and reduced-sugar products.
May 2022 Expansion
Tate & Lyle opens new Customer Innovation and Collaboration Centre in Chile. This expansion helps the company to grow further in the Latin American region.
March 2022 Launch Cargill Incorporated launched EverSweet + ClearFlo Stevia Platform to cater to the increasing demand for natural flavors and reduced sugar ingredients.
September 2021 Expansion ADM Expands Global Nutrition Capabilities with Advanced Flavor Manufacturing Facility in Pinghu, China.
September 2021 Expansion Ingredion Incorporated expanded its North American facility to support plant-based protein development. This facility further helps the company to increase overall production.
June 2021 Launch IFF (International Flavors & Fragrances Inc.) launched Nurica in the United States, this ingredient reduces the levels of sugar and lactose without hampering the sweetness and taste of the natural milk.
May 2021 Partnership Amyris, Inc. announced the agreement with the US-based firm Ingredion Inc. to produce various fermentation-based and sugar-reduction ingredients.
February 2021 Acquisition Tate & Lyle announced the completion of the acquisition of an 85% shareholding in the Thailand-based firm - Chaodee Modified Starch Co., Ltd.
February 2021 Launch Tate & Lyle announced the launch of a digital hub the Tate & Lyle Nutrition Centre, to provide ease of access to reliable science on ingredients that can aid the challenges associated with public health.
January 2021 Launch Evolva launched L-arabinose, a natural sugar blocker that has diversified applications in food and beverages. This launch will maintain the sugar levels of blood and weight.
December 2020
Acquisition Tate & Lyle acquired a leading global business of stevia solutions - Sweet Green Fields. This acquisition made by the company has positioned itself among the global providers of sugar reduction and clean-label solutions.
November 2020 Acquisition Ingredion Incorporated has acquired Verdient Foods Inc. with James Cameron and Suzy Amis Cameron. This acquisition further expands the company’s manufacturing capability and co-creates with customers to serve the increasing consumer demand for plant-based foods.
July 2020 Acquisition Ingredion completed the acquisition of PureCircle- the world’s key innovator, and producer of plant-based flavors and stevia sweeteners for the food and beverage industry.
June 2020 Launch Beneo unveiled two organic products chicory root fibre and rice starch for a range of applications in various food applications that aids fat and sugar reduction.
April 2020 Agreement Evolva formed an agreement with IFF to develop and expand with the commercialization of vanillin.
November 2019 New launch DuPont launched lactose-free enzyme ingredients to reduce the sugar level in dairy products.
September 2019 Investment Cargill Incorporated made an investment of $ 5 Mn in its chocolate facility based in Belgium, to improve its sugar reduction capabilities in chocolates. This investment was done by the company to develop a diverse range of sugar replacements.
April 2019 Product Launch IFF announced the launch of Henry Rose, a line of fine fragrances, to set a new precedent for transparency in fine fragrance and personal care.
April 2019 Approval XIVIA Xylitol- a sugar-reducing ingredient offered by DuPont Nutrition & Health has got approval in various countries for various applications.
March 2019 Acquisition ADM acquired Florida Chemical Company, the key manufacturer of citrus oil and ingredients.
February 2019 Expansion IFF announced the expansion of Tastepoint by the IFF model in multiple geographies around the world and provide localized service to dynamic middle-market customers in a variety of locations.
March 2018 Acquisition ADM announced the agreement to the acquisition of 50% of Russian firm Aston Foods and Food Ingredients, the company mainly operates in the business of starches and sweeteners. This strategic move made by ADM has enabled its business in the Russian market.
February 2018 Collaboration GLG Life Tech Corporation has made a strategic collaboration with ADM, to launch its innovative portfolio of stevia extracts, under the brand name Reb M.
March 2017 Launch ADM launched two sweetener brands VerySweet monk fruit, and SweetRight stevia.
Source: Annual Reports, Press Releases, Associations, Government Records, Journals, Expert Interviews, Secondary Research, and MRFR Analysis
11 COMPANY PROFILES- SUGAR REDUCING INGREDIENTS MANUFACTURERS
11.1 INGREDION INCORPORATED
11.1.1 COMPANY OVERVIEW
Company Headquarters: Illinois, United States
Founded: 1906
Workforce: ~ 12,000
Company Working: Ingredion Incorporated is a global ingredient solutions company. The company is involved in the production of starches, nutrition ingredients, sweeteners, and biomaterials that are utilized in products from foods and beverages to paper and pharmaceuticals. The product portfolio of Ingredion comprised glucose syrups, refined corn oil, polyols, corn gluten meal, high maltose syrup, food-grade starches, caramel color, dextrose, high fructose corn syrup, glucose and syrup solids, and maltodextrins. The Ingredion company endeavors to provide its customers with gluten-free and high-fiber foods. The company offers its products to customers in several sectors, such as food, beverage, pharmaceutical, brewing, paper and corrugating, and animal nutrition. Ingredion directly markets its products to various distributors and manufacturers. The company also sells and manage its customer across 120 countries across the globe.
11.1.2 FINANCIAL OVERVIEW
FIGURE 28 INGREDION INCORPORATED: FINANCIAL OVERVIEW SNAPSHOT
Source: Company Website and Press Releases
11.1.3 PRODUCTS OFFERED
TABLE 28 INGREDION INCORPORATED: PRODUCTS OFFERED
Segment Product
Sweeteners • ASTRAEA Liquid Allulose
• VERSASWEET 1721 34 DE Low Sugar Syrup
• PureCircle Reb M
• PureCircle SG95-30
• GLOBE 42 DE Glucose Syrup NON GMO IP
• GLOBE 42 DE Corn Syrup/Glucose Solids
Source: Company Website and Press Releases
11.1.4 KEY DEVELOPMENTS
TABLE 29 INGREDION INCORPORATED: KEY DEVELOPMENTS
Date Approach Development
June 2022 Launch Ingredion Inc launches a new ad campaign in EMEA to create awareness regarding the product portfolio of texturizers and sweeteners to fulfill the surging demand of consumers for improved Nutri-Score and reduced-sugar products.
September 2021 Expansion Ingredion Incorporated expanded its North American facility to support plant-based protein development. This facility further helps the company to increase overall production.
May 2021 Partnership Amyris, Inc. announced the agreement with the US-based firm Ingredion Inc. to produce various fermentation-based and sugar-reduction ingredients.
November 2020 Acquisition Ingredion Incorporated has acquired Verdient Foods Inc. with James Cameron and Suzy Amis Cameron. This acquisition further expands the company’s manufacturing capability and co-creates with customers to serve the increasing consumer demand for plant-based foods.
July 2020 Acquisition Ingredion completed the acquisition of PureCircle- the world’s key innovator, and producer of plant-based flavors and stevia sweeteners for the food and beverage industry.
Source: Company Website and Press Releases
11.1.5 SWOT ANALYSIS
FIGURE 29 INGREDION INCORPORATED: SWOT ANALYSIS
Source: Annual Report, Press Releases, and MRFR Analysis
11.1.6 KEY STRATEGIES
Ingredion Incorporated emphasizes redefining quality, expanding its capabilities, increasing efficiency, and elevating the superior level of customer service. Additionally, product performance and food safety are their biggest concerns. The company focuses on high-quality products that are produced with innovative technology.
11.2 ADM
11.3 ROQUETTE FRÈRES
11.4 DUPONT
11.5 CARGILL INCORPORATED
11.6 TATE & LYLE
11.7 KERRY GROUP
11.8 INTERNATIONAL FLAVORS & FRAGRANCES, INC.
11.9 GLG LIFE TECH CORP.
11.10 SÜDZUCKER AG
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
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