The Tagatose Market is expected to grow at a stupendous rate in the next 10 years. The healthcare industry is being driven by innovation. The very idea of “Customer is the King” is being implemented. As such, healthcare IT solutions come across as a meticulous and complex system that constitutes interconnected and large-scale systems wherein micros are being worked upon. These would be the facets of the healthcare vertical going forward.
Low-calorie sweeteners are perceived as a healthy option and are gaining popularity as a suitable substitute to sugar. Consumers are progressively shifting to products with low-calorie sweeteners to reduce the risk of diabetes, obesity, and heart diseases that are associated with the excessive consumption of sugar. Tagatose is gaining traction as one of the most health beneficial sweeteners, on account of its low caloric content; tagatose is 92% as sweet as sugar, with comparatively only 32% caloric content.
The global tagatose market has witnessed substantial growth over the past few years, and this growth is expected to continue throughout the forecast period of 2019-2029. On the back of the above-mentioned factors, the global tagatose market is estimated to witness a steady CAGR of 4.7% during the forecast period.
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Key Takeaways of Tagatose Market Study
- The confectionery and beverages segment is projected to exhibit a substantial growth rate in global tagatose market, owing to the higher demand for tagatose as a functional ingredient for beverage and confectionery products.
- The powder form of tagatose dominates the global tagatose market, and accounts for a higher volume and value share as compared to the liquid form. This is attributable to the higher utilization of powder tagatose as compared to the liquid form.
- The business to business segment is expected to emerge as a prominent segment in the global tagatose market, supported by the greater utilization of tagatose in the foodservice sector.
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Tagatose Market: Competitive Landscape
The tagatose market is consolidated in nature, and primarily dominated by a small number of manufacturers. Players in the tagatose market are adapting their market strategies in accordance with the current trends in the market. Leading manufacturers are using strategies such as strategic collaborations, and are strengthening their supply chain with a focus on global expansion. Additionally, these companies are targeting the growing number of health-conscious consumers to further increase their consumer base.
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