Stevia-based tabletop sweeteners or high-density sweeteners are currently the trends in the global industry. Approvals by the organizations for use have opened the floodgates for various formulations, which are stimulating demand in the global market. Additionally, the extracts of the monk fruit used to manufacture Luo Han Guo is rapidly arriving in the market as a competitor. Consumers are largely demanding for natural and green products except for artificially or chemically synthesized sweeteners, thereby exponentially driving the market growth.
High-intensity sweeteners have applications in pharma products such as tablets and syrups. The burgeoning pharmaceutical industry in the European region is expected to increase the overall demand for the sweeteners.
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Impact of COVID-19
As the COVID-19 pandemic has widespread across the globe, it has adversely impacted the global market. The disrupted supply chains and stalled production capacities harmed the supplies of high-intensity sweeteners from China. Companies such as Coco-Cola have had witnessed delayed supplies of non-nutritive sweeteners from China. Sucralose is a critical raw material for the company and is dependent on suppliers from the U.S. and China. As China was the epicenter of the outbreak of coronavirus, it dampened the export operations of China.
High-Intensity Sweeteners Market Segmentation
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