The global sweet protein market value is projected to increase from USD 12.1 million in 2023 to USD 19.7 million by 2033. It will exhibit robust growth, with sweet protein demand rising at a CAGR of 8.1% throughout the forecast period.
Thaumatin continues to experience strong demand, expected to capture a significant revenue share of 43% in 2023. Its popularity stems from its intense sweetness, prolonged effect, and various other benefits.
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Increasing consumer demand for minimally processed natural substitutes for food additives, including sweeteners, is propelling sweet proteins into the spotlight and driving their sales growth.
Companies are incorporating sweet proteins to enhance the flavor profile of a range of functional foods and beverages, including protein bars, shakes, and snacks, while maintaining nutritional integrity. This trend is expected to fuel the growth of the sweet protein market throughout the assessment period.
The shift towards plant-based and vegan diets is influencing the sales of sweet proteins. Additionally, there is an expanding market for sweet proteins and other alternative sweeteners, supported by national initiatives aimed at reducing sugar consumption.
Key sweet protein manufacturers are looking to extract their products from natural sources like stevia and monk fruits. This will help them to walk with the plant-based trend. Several companies are also focusing on using advanced extraction and processing technologies to solidify their positions.
Key Takeaways from the Global Sweet Protein Market Study Report
- The global market for sweet proteins is set to attain a valuation of US$ 19.7 million in 2033.
- By product type, the thaumatin category is expected to account for a value share of 43% in 2023.
- Based on end-use application, the confectionery segment is projected to hold a revenue share of 24% in 2023.
- The United States held around 17% share of the global market in 2022.
- Demand for sweet proteins in the United Kingdom is set to rise at 5.6% CAGR through 2033.
- China is anticipated to register a CAGR of 5.6% between 2023 and 2033.
- Sales of sweet proteins in India are projected to soar at 6.7% CAGR through 2033.
Who is Winning?
The market competition for sweet proteins is still consolidated and sparsely distributed. To satisfy the precise taste and functional needs of consumers as well as food and beverage firms, market players are providing customized sweet protein blends. They are utilizing novel technologies to reduce costs and improve the quality of their products.
Recent Developments by the Sweet Protein Market Players:
- Sweegen, a global leader in sweetness and flavor innovations, introduced its Sweetensify Flavors product line, its newest sweet protein solution, in April 2023.
- Oobli chocolate bars, the first-ever sweet protein-powered confection to hit the market, were introduced by Oobli in December 2022.
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Key Segments Covered by Sweet Protein Industry Survey Report
By Product Type:
- Brazzein
- Thaumatin
- Monelin
- Mabinlin
- Curculin
- Other Types
By End-use Applications:
- Bakery Goods
- Sweet Spreads
- Confectionary
- Sauces, Jams, and Dressing
- Syrups
- Chocolate
- Ice Cream
- Yogurt
- Dairy Product
- Carbonated Drinks
- Other End-use Applications
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
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