Neohesperidin Market – Generate Massive Revenue in Upcoming Future 2021–2031 | BASF SE, Chr. Hansen Holding A/s, Corbion NV

Posted on 2021-03-09 by Future Market Insights, Inc in Food & Beverage // 0 Comments

Neohesperidin, a flavoring glycoside, obtained from citrus fruits is utilized along with potassium hydroxide for catalytic hydrogenation and formation of Neohesperidin dihydrochalcone (NHDC) or Neohesperidin DC. Neohesperdin DC is also listed as a Generally Recognized as Safe (GRAS) flavor enhancer by Flavor and Extract Manufacturer’s Association and FDA. As Neohesperidin is the only precursor which can be used to manufacture Neohesperidin DC, its demand is expected to increase as more new entrants are expected in the artificial sweeteners market.

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Multiple Applications in Cosmetics and Personal Care Division Surges the Demand for Neohesperidin

Neohesperidin finds its application in cosmetics and personal care industry, pertaining to its being naturally sourced from citrus fruits and having similar fruity smell. The market for neohesperdin is divided according to its grade, end use industry and geographical regions. Neohesperidin is graded according to the purity required for its application. Commonly it is divided into three types, industrial grade, which is generally used in industries such as cosmetics and personal care. Food grade is utilized by food and beverage industry to either sweeten the product, mask the bitterness and as a feed additive, whereas the pharmaceutical grade is utilized primarily in the manufacturing of sweeteners and as a mask to bitter tasting drugs.

Neohesperidin – A Novel Answer to Diabetes

Neohesperidin is a bitter-tasting compound, while NHDC formed after the reaction is extremely sweet, about 1500 times sweeter than sucrose in its purest form. Although being sweet in taste, NHDC is recognized to be a non-caloric sweetener, which further amplifies its application in food and beverage industry as a substitute to sugar. Being a non-caloric sweetener, Neohesperidin DC is a potential replacement for sweeteners such as sucrose and glucose, which are generally linked as a cause of hyperglycemia.

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The global population suffering from diabetes have raised from 108 Mn in 1980 to 422 Mn in 2014. This rise in diabetic population has amplified the demand of artificial sweeteners like Neohesperidin DC, which are proven to help the patient during their fight against diabetes. Along with food and beverage industry, Neohesperidin DC finds application as a sweetener in pharma formulations like cough syrups, which are also gaining traction. The market for OTC cough, cold and allergy medicine is projected to cross US$ 37 Bn by 2022, which makes it an attractive application area for neohesperidin manufacturers.

Developing Regions to Experience High Growth In Neohesperidin Market

Several studies published by organizations such as WHO and Diabetes.org show that the population in developing regions of Asia and Africa is worst affected by diabetes. China and India lead the pack with around 170 Mn people being diabetic. It is an estimate by International Diabetes Federation that over 75% of adults with diabetes reside in low- and middle-income countries. This makes an excellent opportunity for Neohesperidin manufacturers to tag these potential customers. The growth in demand for ready-to-consume (RTC) products and beverages in the region also further bolster the market for Neohesperidin as companies seek to sign supply agreements with RTC manufacturers.

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Stiff Competition from Handful of Players

Neohesperidin market is consolidated at top and fragmented at bottom. The companies include Chemical industry like BASF SE, Chr. Hansen Holding A/s, Corbion NV, DuPont, and Cargill, while certain regional players such as Citrus and Allied Essences Ltd., Qingdao Hosun Biological Technology Co. Ltd and BORDAS S.A. are also striving to expand their footprint in the international market. The companies have emphasized on optimizing their supply chain through long term supply agreements with citrus fruit manufacturers. They are also focusing on a long-term relationships with the end-user industries for neohesperidin.

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