thaumatin market REPORT OVERVIEW
The global thaumatin market size was USD 46 million in 2020. As per our research, the market is expected to reach USD 70 million by 2027, exhibiting a CAGR of 6.1% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
Thaumatin is a natural protein-based sweetener and flavor enhancer that is derived from the fruit of the Thaumatococcus daniellii plant, which is native to West Africa. It is a protein which is known for its remarkable sweetness and is often used as a sugar substitute in various food and beverage products. It is considered to be intensely sweet, with sweetness level several hundred times greater than sucrose (table sugar). Despite its potency, it is low in calories, making it a popular choice for reducing sugar content in products.
It is extracted from the pulp of the katemfe fruit. The fruit contains small black seeds surrounded by a jelly-like substance, and it is this substance that contains the thaumatin protein. Apart from its sweetness, it is also known for its ability to enhance the perception of other flavors in food and beverages. It can mask bitter or metallic tastes and improve the overall taste profile of products. It is often found in products like soft drinks, juices, dairy products, yogurts, desserts, chewing gum, and even some pharmaceuticals.
COVID-19 IMPACT:
"Disrupted Supply Chains resulted in Recession of the Market"
COVID-19 had a negative impact worldwide. The thaumatin market was crucially affected. Different markets were affected differently by the virus. Numerous countries implemented lockdowns. All different types of industries were affected by this unpredictable pandemic. Due to an increase in the cases, restrictions grew more rigid during the outbreak.
The pandemic led to disruptions in global supply chains due to lockdowns, travel restrictions, and labor shortages. This could have impacted the sourcing and production from the natural source, katemfe fruit, potentially leading to supply constraints. Economic uncertainty and reduced consumer spending power could have influenced purchasing decisions. This might have prompted manufacturers to re-evaluate their ingredient choices, including thaumatin, in order to maintain cost-effective production.
During the pandemic, there was increased consumer awareness about health and wellness. This could have driven a higher demand for natural and healthier food and beverage products, including those containing thaumatin as a natural sweetener and flavor enhancer. To mitigate supply chain disruptions, manufacturers may have explored alternative sourcing options or looked into synthetic production methods for thaumatin. These adaptations could have influenced market dynamics.
LATEST TRENDS
"Emphasis on Natural and Clean Label to Broaden Market Growth"
The global shift toward healthier lifestyles have led consumers to seek alternatives to traditional sugar-laden products. Thaumatin's unique property of providing sweetness without contributing calories or impacting blood sugar levels was a key factor in its growing popularity. Health-conscious consumers were looking for ways to reduce sugar consumption without compromising on taste.
Consumers have been increasingly conscious of the ingredients in their food and beverages. Thaumatin, being sourced from a natural plant, fits well with the demand for clean label products that have recognizable and minimally processed ingredients. Its natural origin and extraction process align with consumer preferences for transparency and authenticity in their food choices. These latest developments are anticipated to boost the thaumatin market share.
thaumatin market SEGMENTATION
- By Type
Based on type, the market is divided into 0.95, 0.9 and others.
- By Application
Based on application, market is segmented into Food and Beverage, Pharmaceutical Products, Oral Care, Cosmetic Additive, and Others.
DRIVING FACTORS
"Rising Health Conscious Lifestyles to Boost Market Share"
Growing awareness of the health risks associated with excessive sugar consumption led to increased interest in healthier alternatives. Thaumatin's intense sweetness without the calories of sugar made it appealing for products targeting health-conscious consumers. Consumers were increasingly seeking natural and minimally processed ingredients in their food and beverages. Thaumatin, derived from the Thaumatococcus daniellii plant, is a natural sweetener that aligns with this demand for clean label products. The versatility of this ingredient allows to be used across a wide range of product categories, including beverages, dairy products, confectionery, baked goods, and more. This adaptability expanded its market potential.
"Flavor Enhancement Properties to Boost Market Size"
Health organizations and governments worldwide were encouraging the food industry to reduce sugar content in products to address concerns about obesity, diabetes, and other health issues. Thaumatin offered a way to maintain sweetness while reducing overall sugar content. Thaumatin's ability to enhance flavors in addition to providing sweetness is a significant driver. It could mask off-notes, bitterness, and other undesirable flavors, thereby improving the taste profile of various food and beverage products. These factors are anticipated to drive the thaumatin market growth.
RESTRAINING FACTORS
"Competition with Established Sweeteners to Hamper Market Share"
Thaumatin faces competition from a range of sweeteners, both natural and artificial, that have been established in the market for a longer time. These alternatives might have stronger brand recognition and consumer familiarity. Some consumers might be cautious about trying new or unfamiliar ingredients, including natural ones like thaumatin. Overcoming the perception of novelty and gaining consumer trust could be a challenge. While it has the ability to enhance flavors, there might still be challenges in achieving the exact taste profile desired for some products. Taste preferences can be subjective, and not all consumers might find thaumatin's taste to be a perfect match for traditional sugars.
thaumatin market REGIONAL INSIGHTS
"Europe Holds the Major Share of the Global Market"
Europe is one of the major regions with a significant share in the thaumatin market. European consumers have been early adopters of health and wellness trends. As concerns about sugar consumption and its impact on health grew, the demand for natural and low-calorie sweeteners like thaumatin increased. European food and beverage manufacturers have been proactive in reformulating their products to reduce sugar content and provide healthier options. Thaumatin's ability to provide sweetness and enhance flavors made it a valuable ingredient in such reformulation efforts.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- Naturex [France]
- Natex [U.K]
- Green Extract Ghana [Ghana]
REPORT COVERAGE
This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 46 Million in 2020 |
Market Size Value By |
US$ 70 Million by 2027 |
Growth Rate |
CAGR of 6.1% from 2020 to 2027 |
Forecast Period |
2020-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types and Applications |
Frequently Asked Questions
-
What value is the global thaumatin market expected to touch by 2027?
The global thaumatin market is expected to reach USD 70 million by 2027.
-
What CAGR is the global thaumatin market expected to exhibit by 2027?
The global thaumatin market is expected to exhibit a CAGR of 6.1% by 2027.
-
Which are the driving factors of the thaumatin market?
Rising health conscious lifestyles and flavor enhancement properties are drivers of this thaumatin market.
-
Which are the top companies operating in the thaumatin market?
Naturex, Natex and Green Extract Ghana are key companies operating in the thaumatin market.