PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1443366
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1443366
Neohespe Market size was valued at USD 591.46 Million in 2023, expanding at a CAGR of 5.1% from 2024 to 2032.
Neohesperidine DC (NHDC) is a derivative of hesperidin, a flavonoid found in citrus fruits. NHDC is a high-intensity artificial sweetener and flavor modifier that is often used in the food and beverage industry. It is known for its intense sweetness, even in small amounts, and is commonly used to enhance the taste of various products without adding significant calories. Neohesperidine DC is approximately 1500-1800 times sweeter than sucrose (table sugar) and is used as a sugar substitute in a variety of low-calorie and sugar-free food and beverage products. It is considered safe for consumption, and its stability under various processing conditions makes it a popular choice in the formulation of reduced-calorie and sugar-free products. Additionally, Neohesperidine DC is known for its ability to mask the bitterness of certain compounds, making it a valuable additive in the food industry.
Neohesperidine DC Market- Market Dynamics
Increasing demand for natural sweeteners and flavouring agents worldwide to propel market demand
The increasing demand for natural sweeteners and flavouring agents worldwide drives the neohesperidin dihydrochalcone market. Moreover, the rise in the diabetic population has amplified the need for artificial sweeteners like neohesperidin DC, which are proven to help patients during their fight against diabetes. Furthermore, rising awareness about the health benefits of neohesperidin dihydrochalcone is propelling the market forward. In addition, global neohesperidine DC is majorly driven by the food and beverage industry. Along with the food and beverage industry, neohesperidin DC finds END-USE as a sweetener in pharma formulations like cough syrups, which are also gaining traction. However, stringent regulatory guidelines for food additives are limiting the market's growth to some extent.
Neohesperidine DC Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.1% over the forecast period (2024-2032)
Based on Product type segmentation, Food Grade was predicted to show maximum market share in the year 2023
Based on end-use segmentation, Food was the leading type in 2023
On the basis of region, Asia Pacific was the leading revenue generator in 2023
The Global Neohesperidine DC Market is segmented on the basis of Product type, end-use and Region.
The market is divided into three categories based on Product type: Food Grade, Industrial Grade and Pharmacy Grade. Within the neohesperidine DC market, the prevailing type segment is predominantly the Food Grade category in 2023. This supremacy is chiefly ascribed to the extensive utilization of neohesperidine DC as a high-intensity sweetener and flavor enhancer in the food and beverage industry. The Food Grade variant is meticulously formulated to meet rigorous quality and safety standards required for consumption, positioning it as the preferred choice for diverse END-USEs in food products. Its remarkable sweetness, coupled with its proficiency in masking bitterness, contributes to its popularity in the formulation of low-calorie and sugar-free food items, aligning with the escalating demand for healthier alternatives in the food industry.
The market is divided into three categories based on end-use: Food, Chemical Industry and Medicine. Based on END-USE, Food segment dominates the market in 2023. Neohesperidine DC finds widespread use in the food industry to elevate the taste profiles of various products, encompassing beverages, confectionery, baked goods, and more. Its potent sweetness empowers food manufacturers to achieve desired levels of sweetness without introducing substantial calories, establishing it as a pivotal ingredient in the creation of diet and low-calorie food products. The surge in demand for natural and low-calorie sweeteners within the food sector propels the prominence of the "Food" END-USE segment in the neohesperidine DC market.
Neohesperidine DC Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Enterprises within the neohesperidine DC market deploy diverse strategies to fortify their market standing and address shifting consumer preferences. These approaches frequently encompass substantial research and development endeavors aimed at innovating and broadening the END-USEs of neohesperidine DC across various industries. Additionally, companies prioritize strategic partnerships and collaborations with key stakeholders in the food, pharmaceutical, and chemical sectors, aiming to expand their clientele and augment distribution networks. Moreover, marketing initiatives underscore the natural and low-calorie attributes of neohesperidine DC, aligning with manufacturers' efforts to capitalize on the escalating demand for healthier and cleaner-label ingredients in food and beverage products. Continuous quality enhancement, adherence to regulatory standards, and the adoption of sustainable sourcing practices constitute integral components of these companies' strategies, designed to meet the rising consumer demand for safe and environmentally conscious products within the neohesperidine DC market.
In September 2022, The SweetFood initiative, conducted by Bordas in partnership with IATA-CSIC (R+D+I CIEN, CDTI), established the groundwork for exploring sugar reduction in the formulation of food and beverages. This involved the utilization of novel sweeteners derived from natural sources, backed by scientific evidence attesting to their safety and potential health benefits. The project aims to address societal needs and expectations while aligning with the guidelines set forth by the World Health Organization.
GLOBAL NEOHESPERIDINE DC MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Shaanxi Huike Botanical Development Co,. Ltd.
Chengdu Okay Co., Ltd.
Guangzhou HanFang Pharmaceutical Company Limited
Nutrafur S.A.
Hunan Huakang
Interquim, S.A.
Layn Corp
Shaanxi NHK Technology Co.,Ltd.
Guangxi Gaotong Food Technology Co., LTD
Changsha Sunnycare Inc.
Yongzhou Huamao Biotechnology Co., Ltd.
HIT Agritech Group
Shandong Benyue Biological Technology Co., Ltd
Others