The monk fruit sugar market is expected to see a growth in the forthcoming years, according to analysts at Transparency Market Research (TMR). A number of new players are seen foraying in to the global monk fruit market in recent years. The market is marked with steady competition among the vendors. Players are seen engaged in development of novel, unique products, designed to meet consumer demand. Vendors are expected to focus on research and development of products designed to suit consumer taste. The market is still at a nascent stage, and technological innovations are expected to boost opportunities for vendors.
Leading vendors in the global monk fruit sugar market are expected to capitalize on prominent trends such as naturally-derived sweeteners, demand for low calorie food products, organic food products, etc. For instance, in 2017 Archer Daniels Midland Company (ADM) introduced their monk fruit sugar drink called “VerySweet”. The launch of such unique, trendy products is expected to emerge as a key strategy for vendors to gain traction in the global monk fruit sugar market.
Key vendors operating in the global monk fruit sugar market include Apura Ingredients, Whole Earth Sweetener Co., LLC, Monk Fruit Corp, Archer Daniels Midland Company, and Matakana Superfoods Limited.
According to TMR, the global monk fruit sugar market is expected exhibit a 4.5% CAGR over the forecast period 2018 to 2026.
A niche market for alternative sweeteners exists which has captured the interest of the health-conscious consumers. However, artificial sweeteners comprise of components which are likely to have higher calorie content any some harmful side effects to the human body. Monk fruit sugar is gaining traction as a novel solution for sweetening food products, and is free of any side-effect of traditional sweeteners.
Monk Fruit is nearly 300 times sweeter than sugar, has a zero-glycemic index, zero calorie content and essential antioxidants. It does not cause dental cavities, consumable by diabetic patients and is proven to have significant healing attributes. These attributes of the product are likely to increase the acceptance of monk fruit sugar as a substitute, fuelling the global market.
The food and beverage industry is witnessing immense growth over the globe with changing inclination and high demand for gourmet and innovative food products, savories and snack items. The segment further comprises of fruit and vegetable juices, dairy products, confectionery, frozen desserts, bakery products, nutrition drinks, and several other applications like fruit spreads, salads, tea, processed fruit, dry-mix products, flavor enhancers, and table-top sweeteners. To meet the demand for low-calorie, healthy and delicious for healthy, tasty and low-calorie food, monk fruit sugar is increasingly used in several food products such as jams, sauces, desserts, health drinks, etc. This is expected to present immense growth opportunity to vendors operating in the global monk fruit sugar market in the coming years.
This review is based on TMR’s report titled, “Monk Fruit Sugar Market (Nature – Natural, Organic; Form – Powder, Liquid; End Use – Industrial, Commercial (HoReCa) , Household (Retail); Packaging Type – Bags & Sacs, Pouches, Folding Cartons, Jars; Sales Channel – Business to Business, Business to Consumer) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.”