Monk fruit sugar is a sweetening product that is extracted from the monk fruit. It is also known as Luo Han Guo. The sweetness content in monk fruit sugar is higher as compared to other products. It is also used as a substitute for sugar in variety of food beverage products as it causes less harm to the human body. Rise in demand for healthy and natural sweeteners and surge in concern for healthy body and mind boost the growth of the market. This product is 300 times sweeter than sugar and has essential antioxidants.
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COVID-19 Impact analysis
- There has been an increase in the demand for low-calorie, naturally sourced and organic natural sweeteners by consumers due to huge widespread of theCOVID-19 pandemic. This is because consumers are becoming more health conscious and are looking for products that cause less harm. The antioxidants properties of monk fruit sugar acts as the immunity booster for the consumers.
- However, the fact cannot be neglected that the economies were shut down during the spread of the COVID-19 across the globe which led to shut down of the various plants, factories and sites which resulted in the low production.
- Lockdowns across the globe in 2020 and continuing restrictions in 2021 disrupted the supply chain posing challenges for manufactures in the monk fruit sweetener market. Intense competition, pricing issues, and shifting consumer preferences continue to put pressure on vendors' profit margins.
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Top Impacting Factors
- The rise in the demand for pharmaceutical applications and treatment is expected to boost the growth of the monk fruit sugar market.
- Another important factor contributing toward the growth of the market is the change in preference of people toward the consumption of low-calorie alternatives to sugar in various food beverages.
- The only restraining factor for the growth of the market is the complicated harvesting techniques of the fruit and high-cost production. Moreover, there are wide variety of products being recalled by various manufacturers, which hinders the growth of the monk fruit sugar market.
Recent new advancements and expansions
In 2017.Archer Deniels Midland Company launched two new product brands “SweetRight” stevia and “VerySweet” integrating into the company’s sweetener offerings. These launches were done keeping in mind the requirements of consumers for low-calorie, naturally sourced sweeteners for the varied applications.
Rise in demand for low calorie sweeteners
Alternate sweeteners have grabbed the attention of the health-conscious consumers for low-calorie intake. The artificial sweeteners contain the chemicals that cause harm to the human body. Monk fruit sugar is the sweetener that posses low-calories and is beneficial for the health of the consumers.
Monk fruit sugar is used in food products such as , health drinks, desserts, jams, sauces, jellies and more to meet the demand for low-calorie, healthy and delicious food. It finds a significant usage in the pharmaceutical industry for diabetic treatment, cough, respiratory ailments, and constipation. Therefore, the product market is likely to witness a cumulative demand during the forecast period.
Key Benefits of the Report
- This study presents the analytical depiction of the Monk Fruit Sugar industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Monk Fruit Sugar market share.
- The current market is quantitatively analyzed from 2020 to 2028 to highlight the Monk Fruit Sugar market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers suppliers in the market.
- The report provides a detailed Monk Fruit sugar market analysis based on competitive intensity and how the competition will take shape in coming years
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