About Thaumatin Market
Thaumatin is a sweetener and flavour modifier which is obtained from concentrate extraction from katemfe fruit. katemfe fruit is generally found in the western Africa region on trees of Thaumatococcus daniellii. The Thaumatin is highly water soluble, it has low-calories, and is considered highly stable. Thaumatin has wide scope of applications in food and beverages as well as cosmetics, pharmaceuticals and others. Rising health consciousness associated with traditional sucrose based sugar such as diabetes, obesity due to high calories, etc. has also resulted in growing demand for thaumatin. Other factors include the increasing demand for confectionary food products and overall growth of the food and beverages industry as a whole. Asia Pacific is emerging as the biggest market of thaumatin because of high population in the region and growing adoption of natural flavouring agents.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Rising Demand for confectionary products such as chocolates, desserts, fruit juices, and others along with increasing demand for healthy alternative to sucrose based sugar has resulted in increasing demand for thaumatin. The market of thaumatin is expected to rise further with the rising disposable income and expansion of confectionary market in developing countries. Asia Pacific followed by Europe are two prominent markets of thaumatin currently. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Naturex (France), Beneo GmbH (Germany), Neptune Bio-Innovations (Australia), Parchem Fine & Specialty Chemicals (United States), Natex Prozesstechnologie GesmbH (Austria), BOC Sciences (United States), Penta International Corporation (United States), TCI America, Inc. (United States), Silver Fern Chemical Inc. (United States) and Anhui Haibei (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Nanjing Finetech Chemical Co., Ltd. (China), Hdzhl Biotechnology Co., Ltd. (China) and Henan Bon Industrial Co., Ltd. (China).
Segmentation Overview
AMA Research has segmented the market of Global Thaumatin Market market by Type (Food Grade, Pharmaceutical Grade and Others), Application (Flavouring Agent, Sweetener and Others) and Region.
On the basis of geography, the market of Thaumatin Market has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Direct will boost the Thaumatin Market market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Food and Beverages will boost the Thaumatin Market market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Food and Beverages Account for Highest Market Share
Market Growth Drivers:
Growing Demand from Food and Beverages Market Especially Natural Flavoured Food and Beverages Products, Increasing Consciousness about Health Side Effects Associated with Excessive Sucrose based Sugar and Rise in Consumption of Confectionary Products
Challenges:
Limited Area of Production of Raw Materials Affects the Expansion of the Market
Restraints:
Cost of Katemfe Fruit Concentrate Extraction is high
Opportunities:
Strategic Vertical Integration and Other Acquisitions will help Consolidate the Standings of the Market Players
Market Leaders and their expansionary development strategies
In 2020, Beneo GmbH, the German multinational functional ingredients producer and supplier has announced expansion of almost 50 percent capacity of its Wijgmaal facility. For which, the company has pledged to invest USD 56 million in two stages, this will result in increased production capacity by 2022. The expansion plan is aimed to meet the rising demand for rice starch, which is expected to grow further over the coming years.
In 2019, Naturex, a French botanical firm manufacturing and supplying plant based extracts and colours has announced expansion of its production capacity of blue spirulina by almost three times, as well as introduced its new Ultimate Spirulina collection. The expansion of capacity and innovating with new spirulina products will help Naturex consolidate its market of coloring foods.
Key Target Audience
Thaumatin Producers, Suppliers and Distributors, Raw Material Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.