CLEVELAND, March 1, 2017 (PRNewswire) — Demand for alternative sweeteners in the food market is forecast to be $870 million in 2020, after yearly gains of 3.7 percent. The alternative sweeteners market has been growing rapidly. However, the portion of the overall food sweetener market in sugar equivalent terms attributable to alternative sweeteners is forecast to expand from 14 percent in 2015 to around 15 percent in 2020, slower than the 2010 to 2015 period. These and other trends are presented in Alternative Sweeteners Market in the US, 9th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Over the past decade, food applications have steadily taken market share from beverage applications. According to analyst Christine O'Keefe, "In 2005, beverages accounted for over one third of total alternative sweetener demand; that share is expected to fall to just under one quarter in 2020."
This shift is the result of several factors, including:
- Above average growth in food uses, supported by continued development of new applications
- Declining demand in beverages due to falling carbonated soft drink production
- Health concerns regarding alternative sweeteners, particularly in beverages, which are often consumed in higher volumes than food
About The Freedonia Group
The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Chemical studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.