The Meso-Erythritol Market is estimated to be valued at US$ 348 Mn in 2023 and is expected to exhibit a CAGR of 2.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Meso-erythritol is a sugar alcohol that occurs naturally in some fruits such as pears and grapes. It has no calories and is around 70% as sweet as sugar. Meso-erythritol is used as a sweetener and masking agent in various food and beverage products. Some key advantages of meso-erythritol include zero glycemic index, low calories and low insulin response. Due to its taste and functional properties, meso-erythritol is widely used in applications such as confectionery, bakery, beverages and oral care.
Market Key Trends:
Wide applications in food and beverage industry is driving the growth of meso-erythritol market. Meso-erythritol finds various uses as sugar substitute in confectionery products such as chocolates, candies, chewing gums etc. due to its sugar-like taste. It is also used as sweetener in carbonated and non-carbonated beverages along with other functional advantages. Rising health consciousness among consumers has increased the demand for low calorie and low glycemic sweeteners like meso-erythritol. Furthermore, innovations done by manufacturers to utilize meso-erythritol in diverse applications like cosmetics and oral care are expected to support the market growth over the forecast period.
- Threat of new entrants: The meso-erythritol market requires high capital investment for R&D and production facilities, acting as a barrier for new companies. Established brands have accumulated consumer loyalty over the years.
- Bargaining power of buyers: Large buyers in food processing sectors can negotiate lower prices for meso-erythritol. However, limited substitutes ensure the bargaining power remains moderate.
- Bargaining power of suppliers: A few chemical companies globally produce meso-erythritol at scale. However, established supply relationships and supplier switching costs balance their influence.
- Threat of new substitutes: Few sugar substitutes match the taste and properties of meso-erythritol. Novel product innovations may pose a threat in the long run.
- Competitive rivalry: Major players competing on pricing, quality, and expansion have increased competition in the market.
- Strength: Meso-erythritol is non-caloric and non-cariogenic with a clean taste profile. It has various applications in food and beverages.
- Weakness: Smaller players have limited resources for marketing compared to major brands. Fluctuating raw material prices impact profits.
- Opportunity: Increasing health consciousness is driving the demand for low-calorie sugar substitutes. Emerging markets in Asia Pacific offer high growth potential.
- Threats: Stringent regulatory norms and certification requirements increase compliance costs. Trade protectionist policies can disrupt global supply chains.
The global meso-erythritol market is expected to witness high growth, exhibiting CAGR of 2.2% over the forecast period, due to increasing health awareness and demand for low-calorie sugar substitutes. The Asia Pacific region dominates the global market and is projected to be the fastest growing market during the forecast period owing to burgeoning food processing industry and growing health consciousness in countries like China and India.
Key players operating in the meso-erythritol market are Sweeteners Plus, LLC, Merck KGaA, Cargill, Incorporated, B Food Science Co., Ltd., Zhongshun Sci. &Tech., Futaste Co. Ltd., Mitsubishi Chemical Corporation, Shandong Sanyuan Biotechnology Co., Ltd., Baolingbao Biology Co.,Ltd, and Tate & Lyle. These major manufacturers are focused on new product development and capacity expansion strategies to strengthen their market position.
Regional analysis related content: North America is expected to witness significant growth in the meso-erythritol market owing to increasing consumer shift towards low-calorie sugar substitutes. Moreover, growing demand from food processing industry is further propelling the market growth in the region. Europe exhibits lucrative opportunities for meso-erythritol market players on