The Europe Thaumatin Market was at US$ xx million in 2022, and it is predicted that it will reach a valuation of US$ xx million by 2028 with an annual expansion rate (CAGR) of xx% between 2023 and 2028.
Thaumatin is a low-calorie sweetener that is derived from the Cattempe fruit, also known as the 'miracle fruit of Sudan'. The fruit consists of 1 to 3 black seeds surrounded by a gel and contains a sweetener contained within a membrane sac known as the seed coat. The two main protein forms present in the Katemfe plant are Thaumatin I and Thaumatin II. Although thaumatin is 2,000 times sweeter than sucrose, it is primarily used as a flavor enhancer rather than a sweetener and does not contribute to the major calories in the diet. Thaumatin is an odorless, water-soluble protein with high thermal stability. Thaumatin is currently used in baked desserts, salty foods, powdered milk, fruit juices, chewing gum, soft drinks, and coffee products. It is often mixed with other natural sweeteners like stevia to reduce bitterness. Other artificial sweeteners are preferred to thaumatin due to its delayed onset licorice flavor. Thaumatin is widely used in hard compote, chocolate, and gummi, especially to extend and enhance the flavor of mint, berries, and citrus fruits. Thaumatin masks the astringent taste and reduces the sour or bitter taste of low-fat yogurt and bean-based desserts.
Increasing consumption of confectionery products and augmented use of natural flavors in the food and beverage industry are driving demand for Thaumatin, accelerating European market growth.
The main driving force behind the Europe thaumatin market is the rapid consumption of dairy and non-dairy products and increased health awareness among consumers. Another major growth promoting factor is mergers and acquisitions among market participants and high investments in the food and beverage industry. Players active in the Europe Thaumatin market can achieve advanced integration and gain high market share through mergers with domestic players. It is majorly used in the production of sweets, chocolate, and other bakery products to improve the taste and reduce bitterness of certain foods. Due to its high sugar content, it is widely used in functional foods and pharmaceuticals. This is helping to significantly expand the market for Europe Thaumatin. Macroeconomic factors such as emerging economies, per capita income, changing lifestyles, and rapid rates of urbanization are driving the Europe Thaumatin market. Mergers, acquisitions and high investments in the food and beverage industry are supposed to drive the Europe Thaumatin market growth during the outlook period. Gene modification using recombinant DNA technology to produce thaumatin proteins is likely to provide growth opportunities for the Europe Thaumatin market. The regional market is driven by the rapid consumption of dairy and non-dairy products and increased health awareness among consumers around the area.
Rapid consumption of dairy and non-dairy products, rising per capita income, rapid urbanization, rising living standards, emerging economies and increasing health awareness are the main factors supposed to fuel growth of the Europe Thaumatin market during the outlook period. Additionally, market growth is accelerating due to increased investment in the food and beverage industry, increased use of confectionery, and mergers and acquisitions. Besides, the increasing application in a variety of industries such as pharmaceuticals, food & beverage, and cosmetics is driving demand for Europe Thaumatin market.
The Thaumatin market growth in Europe is hampered by extraction costs and limited availability. The inhibiting factor is the lack of coherence between intensive cultivation of Thaumatin only in Africa and food regulation globally. Furthermore, in Europe, thaumatin is classified as a sweetener by regulatory agencies, while the FDA only allowed its use as a flavor enhancer.
The Europe Thaumatin market is segmented based on its application as sweeteners, flavoring agent, etc. Of these, the flavoring agent segment had the largest share in 2019 and is expected to continue through the envisioned period due to its exceptional flavor modifying properties. In addition, the growing acceptance of thaumatin as a sweetener in Europe has further accelerated the growth of the segment.
By product type, the local market is separated as pharmaceutical grade, food grade and others.
The Europe Thaumatin market based on end-user is segmented as food and beverage, cosmetics, pharmaceuticals, nutraceuticals, and more. The food and beverage segment had the largest share in 2019 and is expected to continue through the anticipated period. This sector is likely to emerge as the use of thaumatin in flavored foods such as bread and palm wine increases.
The coronavirus pandemic is affecting societies and economies around the world. The impact of this virus is not only affecting the supply chain, but also increasing day by day. The COVID-19 crisis is creating uncertainty in the stock market, a massive slowdown in the supply chain, a decline in business credibility, and increased panic among customer segments. Trade barriers are further holding back the supply and demand outlook. The entire production process is negatively affected as the governments of various regions have already announced full closures and temporary closures of the industry. Therefore, it disrupts the market for Europe Thaumatin around the region.
Geographically the Europe Thaumatin Market is segmented into UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe. Europe has the second largest share of the world market for Thaumatin, with the wide acceptance as a sweetener in the European Union. Market demand is expected to increase as favorable regulations and augmented consumer awareness of ingredients used in food processing. Besides, technological advancement is one of the key factors contributing to Europe Thaumatin market growth. Overall, the outlook for the European market will show positive growth over the conjecture period with the high demand for organic and healthy food around the locale.
Key Players in the Market:
Major Key Players in the Europe Thaumatin Market are
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