Maltitol Market: Introduction
A
recent study published by Transparency Market Research on the maltitol market includes
global industry analysis and opportunity assessment for 2019-2029. Revenue
generated from the global maltitol market has been estimated to be valued at ~US$ 189.9 Mn in 2019, which
is projected to expand at a CAGR of ~6%,
to reach US$ 346
Mn by 2029.
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Rising Demand for Confectionery Products to Propel
Growth of Maltitol Market
Globally,
the demand for confectionery products is rising, especially among millennials.
Malatitol is widely used in the food & beverages industry, as it has wide
array of applications and is commonly used in making chewing gums, bakery
goods, breads, cookies, and carbonated drinks. Moreover, maltitol is used in
end products without added sugar, as it is a good substitute for sugar. It also
has several other functional properties, such as it helps in sugar reduction
and calorie reduction. Demand for chocolates that are low in sugar or even
sugar-free and low calorie will continue to grow, which in turn is anticipated
to contribute to the growth of the maltitol market.
Increasing Healthcare Spending Supports Market Growth
The
cost of healthcare has risen twice as fast as general inflation, primarily due
to extensive research and development activities carried out in the
pharmaceutical industry.
According to the European Federation of Pharmaceutical
industries and Association (EFPIA), expenditure in the pharmaceutical industry
in Europe increased from US$ 37,030.6 Mn in 2011 to US$ 38,055.6 Mn in 2012.
Increasing
cost of healthcare has compelled people to opt for vegan products, as these
plant-based products provide several health benefits and higher nutritive value
such as weight management, lower blood sugar levels, protect against certain
cancers, lower risk of heart attacks, and reduce pain caused due to arthritis.
Therefore, increasing healthcare expenditure is a key factor driving the demand
for low-calorie and zero sugar sweeteners. This in turn will propel the growth
of the global maltitol market.
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Offer Maltitol for Use in Low-calorie Drinks
Changing
lifestyles and increasing pace of urbanization are influencing prevailing
trends, as consumers prefer either ready-to-use or finished products. As a
result of this, an increase in the consumption of carbonated drinks and other
functional products is noticed. Meanwhile, consumers are also aware that the
products, which they are consuming should be beneficial. As maltitol has
numerous functional properties such as low glycemic index, along with being
tooth friendly, it is gaining traction. The rising demand and acceptability of
low-calorie sweeteners in different application in beverages is anticipated to
influence the existing sweeteners manufacturers to offer low-calorie or
carbohydrate sweeteners specially manufactured for beverage applications.
Leading Manufacturers Offer Superior Quality
Sugar-free Products
Consumers
prefer excellence in quality and service. Companies are, therefore investing in
research and development to produce high quality and innovative products.
Furthermore, they are focusing on adopting the latest technologies that will
enable consumers maintain high-quality standards. Consumers primarily favor
brands that have the best quality products and offer a wide range of options to
choose from. Hence, competition is increasing in the food ingredients market,
and consumers are ready to pay a higher price for high-quality products. For
instance, consumers prefer food products that sugar-free as well as low in
calorie. Players offering maltitol can identify manufacturers that are
recognized for their high quality offerings and enter into collaborations, with
an aim to improve their share in the global maltitol market.
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