MaltitolMarket: Introduction
A recentstudy published by Transparency Market Research on the maltitol market includesglobal industry analysis and opportunity assessment for 2019-2029.Revenue generated from the global maltitol market has been estimated to bevalued at ~US$ 189.9 Mn in 2019,which is projected to expand at a CAGR of ~6%, to reach US$346 Mn by 2029.
Rising Demand for ConfectioneryProducts to Propel Growth of Maltitol Market
Globally,the demand for confectionery products is rising, especially among millennials. Malatitolis widely used in the food & beverages industry, as it has wide array ofapplications and is commonly used in making chewing gums, bakery goods, breads,cookies, and carbonated drinks. Moreover, maltitol is used in end productswithout added sugar, as it is a good substitute for sugar. It also has severalother functional properties, such as it helps in sugar reduction and caloriereduction. Demand for chocolates that are low in sugar or even sugar-free andlow calorie will continue to grow, which in turn is anticipated to contributeto the growth of the maltitol market.
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Increasing Healthcare SpendingSupports Market Growth
The cost ofhealthcare has risen twice as fast as general inflation, primarily due toextensive research and development activities carried out in the pharmaceuticalindustry.
According to the European Federation of Pharmaceuticalindustries and Association (EFPIA), expenditure in the pharmaceutical industryin Europe increased from US$ 37,030.6 Mn in 2011 to US$38,055.6 Mn in 2012.
Increasingcost of healthcare has compelled people to opt for vegan products, as theseplant-based products provide several health benefits and higher nutritive valuesuch as weight management, lower blood sugar levels, protect against certaincancers, lower risk of heart attacks, and reduce pain caused due to arthritis.Therefore, increasing healthcare expenditure is a key factor driving the demandfor low-calorie and zero sugar sweeteners. This in turn will propel the growthof the global maltitol market.
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Offer Maltitol for Use inLow-calorie Drinks
Changinglifestyles and increasing pace of urbanization are influencing prevailingtrends, as consumers prefer either ready-to-use or finished products. As aresult of this, an increase in the consumption of carbonated drinks and otherfunctional products is noticed. Meanwhile, consumers are also aware that theproducts, which they are consuming should be beneficial. As maltitol hasnumerous functional properties such as low glycemic index, along with beingtooth friendly, it is gaining traction. The rising demand and acceptability oflow-calorie sweeteners in different application in beverages is anticipated toinfluence the existing sweeteners manufacturers to offer low-calorie orcarbohydrate sweeteners specially manufactured for beverage applications.
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Leading Manufacturers OfferSuperior Quality Sugar-free Products
Consumersprefer excellence in quality and service. Companies are, therefore investing inresearch and development to produce high quality and innovative products.Furthermore, they are focusing on adopting the latest technologies that willenable consumers maintain high-quality standards. Consumers primarily favorbrands that have the best quality products and offer a wide range of options tochoose from. Hence, competition is increasing in the food ingredients market,and consumers are ready to pay a higher price for high-quality products. Forinstance, consumers prefer food products that sugar-free as well as low incalorie. Players offering maltitol can identify manufacturers that are recognizedfor their high quality offerings and enter into collaborations, with an aim toimprove their share in the global maltitol market.
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