Monk fruit sugar Market Analysis: The market potential for dietary supplements is expected to remain consistent by 2026 end
Transparency Market Research offers an eight-year forecast for the global monk fruit sugar market between 2018 and 2026. In a recently released report by the company, the global monk fruit sugar market is expected to register a CAGR of 4.5% during the forecast period. The primary objective of the report is to offer insights on the developments and prospect in the monk fruit sugar market. The study demonstrates market dynamics that are predictable to influence the current challenges and future status of the global monk fruit sugar market over the forecast period. This report also offers updates on trends, drivers, restraints, value forecasts, and opportunities for manufacturers operating in the global and regional monk fruit sugar market.
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Global Producers to Increase the Scale and Speed of their R&D Efforts
In recent years, research on different monk fruit sugar processing has shown its potential use in a wide range of applications. Keeping that in mind, a variety of natural sweeteners are now available in their purest forms. Hence, it is anticipated that different applications of monk fruit sugar could also be identified with an increase in research and development expenditure. Large companies are constantly identifying avenues in order to enhance their portfolio of monk fruit sugar with innovative new products to explore new market possibilities. It is expected that the focus on R&D will increase over the forecast period, as companies are expected to offer monk fruit sugar that are unique and better than their rivals. Manufacturers are also likely to be focusing on positioning their brands of monk fruit sugar better to improve their sales.
Shift in Consumer Preference and Increasing Per Capita Expenditure on On-the-Go Food
With increasing development and an increase in consumer purchasing power, consumers are spending more on processed, and on-the-go food & beverages products, which saves time that is normally required to prepare conventional meals. Growing consumer expenditure on on-the-go meals is also driving the growth of the global monk fruit sugar market, and this trend is expected to continue over the forecast period.
Over the years, consumer attitudes have changed towards sugar intake. Consumers are preferring low calorie or zero calorie food products which are processed with sugar substitutes. In the food and beverage industry, cutting down sugar content, swapping out the white stuff for alternative low-calorie sweeteners and monk fruit sugar has become a top priority for food formulators leading to increased demand for monk fruit sugar.
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Direct Sales Likely to Remain Preferred Means for Monk fruit sugar
Monk fruit sugar have gained popularity in recent years as people have become increasingly aware of its associated benefits. Presently, most of the monk fruit sugar available in the market are used in the food processing industry due to which direct or business to business sales are higher as compared to indirect sales. Many naturally derived sweetener producers have tied up with food & beverage giants as exclusive suppliers. However, with growing product acceptance and launches of monk fruit sugar in innovative packaging formats for retail use, the indirect sales for household and retail consumption is expected to rise in the coming years.
Monk fruit sugar Market Outlook
A section of the report highlights the global demand for monk fruit sugar. It also provides a market outlook for 2018–2026 and sets the forecast within the context of the dates.
This study discusses key drivers, and opportunities contributing to the growth of the global monk fruit sugar market, as well as analyses the degree to which drivers are influencing the global market. In the final section of the global monk fruit sugar report, a competitive landscape has been included to provide report audiences with a dashboard view. Key categories of providers covered in the report are global monk fruit sugar key players. Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key product offerings and recent developments in the global pea protein market space.
Market participants in the global monk fruit sugar market include, Archer Daniels Midland Company, Monk Fruit Corp, Apura Ingredients, Guilin Layn Natural Ingredients Corp, Imperial Sugar Company, Whole Earth Sweetener Co., LLC, Health Garden USA, Matakana Superfoods Limited, Group Krisda Stevia Canada Inc, and Bulk Barn Food Limited
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Rising Health-Consciousness among Considerable Populace to Increase Growth Rate of Monk Fruit Sugar Market
The ongoing demand for healthy and natural alternatives to artificial sweeteners is expected to invite substantial growth opportunities for the monk fruit sugar market during the assessment period of 2018-2026. Monk fruit sweetener is extracted from the monk fruit, also known as the Buddha fruit or Luo Han Guo. This fruit is small in size and is round in shape. It is prominently grown in Southeast Asia. This fruit comprises natural sugars, vitally glucose and fructose. The sweetness is derived from mogrosides, an antioxidant that they contain.
- The overwhelming benefits of monk fruit sugar over Stevia may bring tremendous growth opportunities for the monk fruit sugar market. This sugar type is way too sweeter than Stevia extract. Thus, this factor will enhance the growth opportunities across the monk fruit sugar market. The growing preference toward monk fruit sugar from diabetics will also serve as a prominent growth accelerator for the monk fruit sugar market. Furthermore, the rising awareness among the consumers about low-calorie intake may bring exponential growth prospects for the monk fruit sugar market.
- Monk fruit sugar has a variety of benefits. This fruit is used for curing a plethora of diseases such as trachealis, asthma, tonsillitis, blood pressure, and others. The fruit is also used as a cooling agent. Thus, all these factors prove beneficial for the growth of the monk fruit sugar market. The rising inclination of a considerable chunk of the populace toward natural sweeteners will invite extensive growth opportunities for the monk fruit sugar market.
- The COVID-19 pandemic has resulted in extreme losses across various sectors and businesses. The disruptions in the supply chain and logistics added to the woes of the monk fruit sugar market. However, the relaxations announced by the government of various countries will prove to be a game-changer for the growth of the monk fruit sugar market.
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