Food firms target global market with alternative sweeteners

[Courtesy of Samyang Corp.]

South Korean food giants Daesang, Samyang, and CJ CheilJedang are actively targeting the global market by introducing alternative sweeteners, as they aim to capture a share of the rapidly growing industry.

Samyang announced its participation in the ‘IFT 2024,’ a major food technology exhibition featuring 1,300 companies from over 100 countries, on Thursday, where it showcased allulose and soluble dietary fiber-resistant maltodextrin. Allulose, a low-calorie sweetener found in figs and grapes, offers a viable sugar substitute with minimal caloric content.

The company has been mass-producing allulose at its Ulsan plant since 2020, and launched its B2B brand, ‘Nexweet,’ to expand into the global market. The company’s allulose sales surpassed 10 billion won ($7.22 million) in 2022 and increased by 30 percent in 2023.

[Graphics by Kim Eo-jin]

Daesang introduced allulose under its new alternative sugar brand, ‘Sweevero,’ earlier in 2024 and completed the construction of Korea’s largest dedicated allulose production facility at its Gunsan starch and syrup factory in May 2022. Both Samyang and Daesang anticipate significant growth in the alternative sweetener market, driven by increasing health concerns related to diabetes and obesity.

For its part, CJ CheilJedang is also making strides in the alternative sweetener sector. In addition to adding isomalt to its B2B product lineup, the company began producing stevia, a sweetener derived from plant leaves, earlier in July 2024.