Erythritol Market size is forecast to reach $389.11 Million by 2025, growing at a CAGR of 4.8% during the forecast period 2020-2025. Erythritol is a sugar alcohol used as a low-calorie sweetener which provides only about 6% of the calories found in an equal amount of sugar. It is used as a food additive and sugar substitute. Erythritol occurs naturally in some fruits and fermented foods, while manufacturers add an industrially fermented version to low sugar and sugar-free food and drink options. Great demand for high intensify sweeteners, greater consumption of low-calorie beverage solutions and increasing health consciousness and change in life style among consumers of emerging countries are driving the market growth in recent years. In addition, major market development of key players like Ingredion and MCTC Holdings, Inc. are other factors driving the growth of the market.
Type – Segment Analysis
Powdered Erythritol held the largest share in the type segment of Erythritol Market in 2019 and is estimated to grow at a CAGR of 5.5% during the forecast period 2020-2025. The powder is preferable for most uses as the granulated form tends to stay grainy unless dissolved in water. Powdered Erythritol sweeteners bake are almost identical to sugar and are made by combining and fermenting certain natural sugars. As a result, powdered form of Erythritol has become one of the most popular choices when it comes to artificial sweeteners, and there is a considerable market growth of this segment in the recent years. Granular Erythritol is set to be the fastest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025, owing to its cheaper rates in the sugar market, and increasing demand for cheap artificial sugar.
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Application – Segment Analysis
Food and beverages held the major share in the application segment of Erythritol Market in 2019. In the face of growing diabetes and chronic disorders, there is a huge demand for replacement of sugar in the food industry. Erythritol is used in sweeteners, additives and protective agents, sweeteners and protective agents mainly used in confectionaries, additives used in low calorie diet food. This has significantly driven the market growth in recent years. Pharmaceuticals segment is forecast to grow at the fastest rate with the highest CAGR during the forecast period 2020-2025, owing to major investments in R&D activities of pharmaceutical applications, and innovation in present uses of Erythritol like coating agent, lozenges, diluent in wet granulation and medicated chewing gum in pharmaceutical.
Geography – Segment Analysis
North America dominated the geography segment of Erythritol Market with a share of more than 38.06% in 2019, followed by Europe. Increasing incidences of diabetes among the geriatric population, growing awareness about the benefits of natural sweeteners and presence of key market players in the region have helped in the growth of Erythritol Market infrastructure in this region. Europe held the second place in the geography segment share of the market, owing to advancements in healthier foods in the foods industry, increasing number of R&D activities for better products and medications from Erythritol and entry of big investment firms in recent years in this region.
Asia-Pacific is estimated to grow at the fastest rate at a higher CAGR during the forecast period 2020-2025. This is owing to increasing cases of obesity and diabetes, rising demand for healthy weight management products, entry of new market players in the region, and increasing disposable income of the population.
Drivers – Erythritol Market
Growing demand for energy drinks and diet beverages
In the last few years, there is a growing consumer trend towards the importance of organic food and beverages in their dietary habits, which has positively affected the growth of artificial sugar and sweetening products in the urban market. There is a rise in demand for healthier sweetening products like Erythritol, both in powdered and granular form, which has resulted in more consumption of low-sugar energy beverages and health drinks. This is set to drive the market growth in the forecast years 2020-2025.
Growing numbers of approvals of Erythritol in food products
Erythritol safety has been reviewed and confirmed by major health authorities around the world. The World Health Organization (WHO) confirmed its safety in 1999 and in 2001, the U.S. Food and Drug Administration (FDA) also recognized Erythritol as safe. In view of this, major developing countries are set to approve Erythritol in their food products as a result of its ever increasing customer base, and need of artificial sweeteners amid the growing number of obese patients each year. This is projected to drive the demand for Erythritol, and consequently help in market growth during the forecast period 2020-2025.
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Challenges – Erythritol Market
Presence of substitutes like Stevia
Stevia is a big competition for Erythritol, in view of its market size and per unit calorie content. Though stevia price is sometimes higher, it is a zero calorie sweetener, and hence is more preferred by obese patients. Thus, it is anticipated to hamper the market growth during the forecast period 2020-2025.
Erythritol Industry Outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Erythritol Market. In 2019, Erythritol Market share is consolidated by the top players present in the market. Erythritol Market top 10 companies are Ingredion Incorporated, Cargill Inc., Incorporated, Icon Foods, Shandong Sanyuan Biotechnology Co., Ltd, Tate & Lyle, Nikken Chemical, Baolingbao Biology, Zibo ZhongShi GeRui Biotech, Zhucheng Dongxiao Biotechnology and MCTC Holdings, Inc. among others.
In May 2020, Ingredion launched Erysta, the company’s new sweetener made from an Erythritol polyol that has undergone a fermentation process, according to Food Ingredients First.
In October 2019, Icon Foods introduced an innovative new sweetener blend called IconiSweet, which combines allulose, erythritol, stevia, and monk fruit.
In March 2020, MCTC Holdings, Inc. announced the launch of Hemp You Can Feel(TM) Sweetener and Coffee Creamer Product Line, one of which is the Monk Fruit Extract and Erythritol with Hemp You Can Feel Infusion.
North America dominated the Erythritol Market in the year 2019 owing to increasing incidences of diabetes among the geriatric population, growing awareness about the benefits of natural sweeteners and presence of key market players in the region. The Erythritol Market scope for different regions will be provided in the final report.
Growing demand for energy drinks and diet beverages, increasing numbers of approvals of Erythritol in food products, demand for low glycemic index-based sweeteners and increasing investments in products by key market players in upcoming years is estimated to drive the industry growth during the forecast period 2020-2025.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Erythritol Market report.
Presence of substitutes like Stevia and effects of overconsumption of Erythritol on gastrointestinal system are anticipated to hamper the market growth of the Erythritol Industry.
Related Reports :
A. Sugar Substitutes Market
B. Food Processing Ingredients Market
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