San Francisco, August 10, 2018: The global thaumatin market is predicted to experience an exponential rise in demand. Rise in confectionary and bakery industry forms the major factor driving the growth of the market, reports TMR Research in their report titled, “Thaumatin Market – Global industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2028” Rapid urbanization is steering the global thaumatin market in a positive direction.
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Thautmatin has gained immense popularity in dairy and non-dairy market due to its sweet tastes. It has been found that few proteins are multiple times sweeter than processed sugar. Thaumatin in confectionary industry is used for making gummies, chocolate, and hard candies. This is also used in improving the taste of berry, citrus, and mint. Thus confectionary industry bolster the growth of the thaumatin market. Rise in dairy and confectionary products due to introduction of new tastes and promotion of new products is likely to stoke the growth of the market.
Rise in awareness among consumers is envisaged to grow the demand for thaumatin. Other factors which are promoting the growth of the market are rapid urbanization, change in lifestyle, and rise in per capita income. It has been noticed that developing countries with emerging economy also play a significant role in the growth of the market. Various global players in order to expand their footprints in other regions are collaborating or merging with regional players, this in turn is anticipated to increase the demand of the market.
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Global thaumatin market can be classified on the basis of end-use industry, region, and application. Thaumatin are used in food and beverages, pharmaceutical, and cosmetics industries. Food and beverages is likely to account for higher share of the market during the assessed period. Thaumatin is used as a flavoring agent. It is anticipated that as a flavoring agent, the market could secure higher demand in confectionary products.