Albany, NY -- (SBWIRE) -- 05/08/2017 -- The growing demand for low-calorie foods and natural sugar substitutes has significantly fueled the global alternative sweetener market, states Transparency Market Research in a recent report. The 75-page research publication is titled "Alternative Sweetener Market - Global Industry Analysis, Size, Share, Growth and Forecast 2015 - 2021" and is available for sale on the company website.

Alternative sweeteners are a type of sugar substitute used to lend foods and beverages the sweet taste of sugar with significantly lower traces of food energy. Alternative sweeteners are either mixed with starch-based sweeteners before sale to consumers or are used directly in commercially processed foods.

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Based on the findings of the report, the alternative sweetener market is projected to expand at a 4.2% CAGR from 2015 to 2021. In 2014, the value of the market was pegged at US$11.5 bn and this is anticipated to rise to US$15.4 bn by 2021. The growing application of alternative sweeteners in diet foods and soft drinks provides a major opportunity for vendors to capitalize on. On the other hand, strict food and safety regulations regarding the use of additives in foods and the various health problems associated with the excessive consumption of sugar-free products threaten to negatively impact the alternative sweetener market.

The report studies the global alternative sweetener market on three fronts: Product, application, and geography.

By type of product, the alternative sweetener market has been fragmented into high intensity sweetener (HIS), high fructose syrup (HFS), and low intensity sweetener (LIS). Expanding at a 3.4% CAGR from 2015 to 2021, the HIS segment dominates the overall market, followed by HFS. LIS are projected to expand at the highest CAGR of 7.1% during the forecast period.

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By application, the alternative sweetener market has been divided into beverages, food, and others, including personal care and pharmaceuticals. In the food segment, alternative sweeteners are used in tabletop sweeteners, bakery products, dairy products, chewing gum, confectionaries, and chocolates, among others. In the beverages segment, alternative sweeteners are used in coffee, tea, juices, and diet versions of carbonated drinks. The beverages segment accounts for the largest share in the overall alternative sweetener market.

By geography, the market for alternative sweeteners has been categorized into Asia Pacific, North America, Europe, and Rest of the World. Of these, North America accounted for the largest share in the global alternative sweetener market and this region is projected to retain its lead through 2021. Mexico and the US are the largest contributors to the North America alternative sweetener market and are anticipated to help guide the region at a 3.6% CAGR from 2015 to 2021. Asia Pacific has been witnessing an increasing demand for alternative sweeteners, especially from the emerging economies of China and India. The alternative sweetener market in India is projected to expand at a 6% CAGR during the forecast period while the market in China will register a 3.4% CAGR.

Archer-Daniels-Midland Company, Cargill Incorporated, Roquette Frères S.A., NutraSweet Company, Ajinomoto Co. Inc., Tate & Lyle Plc, and Ingredion Incorporated are some of the top companies operating in the alternative sweetener market. The report identifies the leading players in this space and key attributes such as company and financial overview, recent developments, and business strategies have been taken into consideration while reviewing the performance and contribution of these vendors.

The report segments the global alternative sweetener market as:

Global Alternative Sweetener Market, by Product type

High Fructose Syrup (HFS)
High Intensity Sweetener (HIS)
Low Intensity Sweetener (LIS)

Global Alternative Sweetener Market, by Application
Food
Beverages
Others (including pharmaceuticals and personal care)