According to a new study by FMI, sales of fructose are expected to surpass US$ 7 Bn in 2019. Gains of the fructose market are further underpinned by a slew of factors, including lower prices of fructose than that of sucrose, increased consumption of convenience foods, and easy availability of raw materials.
“The market for fructose is rising at a steady pace, owing to the rising health awareness among consumers globally and the reduction in sugar consumption in developed countries. Certain product types of the fructose market are gaining popularity among consumers, as well as the manufacturers and this has resulted in overall growth of fructose,” says FMI report.
Fructose Remains a Preferred, Economic Sweetener
According to the report, the use of fructose in food and beverages is more than that in any other application. The use of fructose in beverages is the highest amongst all applications within which fructose being used in non-alcoholic beverages the most. This is due to the ongoing demand of the food products and the beverages globally especially in the developed countries. This demand has led to the fructose being in high demand as a sweetener in these products. Also, fructose is an economic sweetener if compared with sucrose to be added in food and beverages.
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The quantity and the calories obtained from the fructose is also less as compared to fructose. This is the reason that the fructose is being used in such wide applications in the food and beverage industry. But the demand of fructose in the food and beverage industry is reducing owing to the increasing health conscious population and the need for clean label products among the consumers. But in the developing countries where the awareness among the consumers is less, the demand of fructose is high. Even in the U.S., the use of high fructose corn syrup is higher than that of sucrose as it is an economical alternative and will persist until such an economic alternative is available.
According to the report, consumers will reduce the use of fructose manufactured using corn as there is an increase in health-conscious population. The demand for fructose manufactured from other sources such as fruits and vegetables is increasing with a very high CAGR. This is due to the shift of consumers from artificial ingredients to natural products. The drawback of extracting fructose from this source is the high cost of production and high prices, which manufacturers are trying to overcome. However, it is expected to grow in the upcoming years as compared to all other sources.
Natural Sweeteners Continue to Trend
The research analysis by FMI finds that consumer demand for products that are natural is increasing. This ongoing trend has led to the use of artificial products being reduced in products. The synthetically-produced sweeteners market is getting affected by these products but the market demand for natural sweeteners has increased in food products. This is due to the increasing prevalence of health problems such as diabetes and obesity. These are more prominent in Asia Pacific and North America regions. This health awareness has resulted in consumer preference shifting from artificial sweeteners in their food products to sweeteners obtained from natural products.
According to the report, fructose solids (crystalline/powder) and fructose syrups obtained from a source other than corn are being preferred by consumers even if they have to pay a premium price for it. The demand for fructose solids and syrups is rising as there is no negative feedback or report on its effect on the health of consumers.
This FMI study offers incisive insights into the fructose market for the forecast period between 2019 and 2029. The fructose market is projected to record a CAGR of over 5.0% through 2029. For more insights on the fructose market