(Food-Beverage-News.Com, January 18, 2022 ) Fruit Sugar Market size is estimated to reach $6.2 billion by 2026, growing at a CAGR of 5.1% during the forecast period 2021-2026. Fruit sugar is a ketonic monosaccharide that is found in several plants and is absorbed directly into the bloodstream during the process of digestion. Fruit sugar products are increasingly being adopted among consumers across the world owing to the growing demand for sugar substitutes among the young population and the rise in awareness about the benefits of fruit sugar products. The rise in the adoption of high-fructose corn syrup (HFCS) in dairy products, increase in the demand for root vegetables in various applications, and the growing investment by the key players to develop quality fruit-based nutritional drinks are the factors that are set to drive the growth of the Fruit Sugar Market for the period 2021-2026.
Fruit Sugar Market Segment Analysis-By Source
The Fruit Sugar Market based on the Source can be further segmented into Apple, Mango, Banana, Citrus Fruit, and Others. The Apple segment held the largest share owing to the factors such as the rise in the demand for apple-based fruit sugars in dairy products and the increase in the product launches by the key players. The growing demand for sugar substitutes in developed nations is driving the growth of the Fruit Sugar Market. The Mango segment is estimated to be the fastest-growing segment with a CAGR of 5.4% over the period 2021-2026. This growth is owing to the factors such as the growing investment by the key players to develop mango-based fruit sugars and the increase in awareness about the benefits of mango-based fruit sugars.
Fruit Sugar Market Segment Analysis-By Application
The Fruit Sugar Market based on the Application can be further segmented into Bakery and Confectionery, Dairy Products, Nutritional Drinks, and Others. The Dairy Products segment held the largest share in 2020 owing to the factors such as the rise in the adoption of high-fructose corn syrup (HFCS) in dairy products and the growing demand for sugar substitutes in dairy products. The growing demand for apple-based fruit sugars in dairy products is driving the growth of the Fruit Sugar Market. The Nutritional Drinks segment is estimated to be the fastest-growing segment with a CAGR of 5.6% over the period 2021-2026. This growth is owing to the factors such as the growing demand for root vegetables in nutritional drinks and the rise in the demand for fruit-based nutritional drinks.
Fruit Sugar Market Segment Analysis-By Geography
The Fruit Sugar Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of World. North America held the largest share with 29% of the overall market in 2020. The growth in this segment is owing to the factors such as the rise in the adoption of high-fructose corn syrup (HFCS) in dairy products and the increase in product launches by the key players. The rise in the demand for sugar substitutes among the young population is driving the growth of the Fruit Sugar Market. Asia-Pacific segment is estimated to be the fastest-growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as the increase in the demand for root vegetables in nutritional drinks and the growing investment by the key players to develop fruit-based nutritional drinks.
Fruit Sugar Market Drivers
Increase in Inclination towards Clean Label Products.
Customers across the world are increasingly shifting towards clean label products owing to the rise in the adoption of quality dairy products and the growing awareness about the benefits of clean label products. The key players across the world are focusing on developing high-quality fruit-based nutritional drinks, which is one of the major factors driving the growth of the Fruit Sugar Market.
Rise in the Adoption of Sugar Substitutes.
The rise in health consciousness among the young population owing to the growing number of chronic diseases has propelled the demand for healthier food choices and natural sweeteners. Moreover, manufacturers are launching quality high-fructose corn syrup (HFCS), which is further propelling the growth of the Fruit Sugar Market.
The key players in the market are increasing their investment to carry out various research and development activities for developing quality high-fructose corn syrup (HFCS). However, stringent government regulations for the approval of fruit sugar products are one of the major factors that are estimated to reduce the growth of the Fruit Sugar Market.
Fruit Sugar Market Competitive Landscape:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Fruit Sugar Market. Key companies of this market are Archer-Daniels-Midland Company, Cargill, Tate & Lyle PLC, Ingredion Incorporated, Japan Corn Starch Co Ltd, Showa Sangyo Co., Ltd, Kerry Group, Roquette Freres, Global Sweeteners Holdings Limited, and COFCO Rongshi Biotechnology Co Ltd among others.
Acquisitions/Product Launches:
In July 2020, Cargill has launched its newest sweetener C?TruSweet® 01795 fruit sugar syrup to enable a 30% sugar reduction in food and beverage applications and to deliver the same sweet taste at lower levels.
In July 2020, Tate & Lyle PLC has launched sweetener vantage expert systems to help formulators create sugar-reduced beverages using low-calorie fruit sugars and sweeteners and to meet the growing demand for low-calorie products.
Key Takeaways
Geographically, the North America Fruit Sugar Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the rise in the demand for High-fructose corn syrup (HFCS) in dairy products.
The increase in the adoption of sugar substitutes in dairy products is driving the Dairy Products segment. However, stringent government regulations for the approval of fruit sugar products are one of the major factors that are said to reduce the growth of the Fruit Sugar Market.
Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Fruit Sugar Market report.
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