INTRODUCTION... XX STUDY GOALS AND OBJECTIVES... XXI REASONS FOR DOING THIS STUDY... XXII CONTRIBUTIONS OF THE STUDY AND FOR WHOM... XXII SCOPE AND FORMAT... XXIII METHODOLOGY AND INFORMATION SOURCES... XXVI RELATED BCC PUBLICATIONS... XXVI ABOUT THE AUTHOR... XXVII BCC ONLINE SERVICES... XXVII DISCLAIMER... XXVII SUMMARY... XXIX SUMMARY TABLE ESTIMATED U.S. MARKET FOR SUGAR AND OTHER SWEETENERS THROUGH 2011 (MT IN THOUSANDS)... XXX SUMMARY FIGURE ESTIMATED U.S. MARKET FOR SUGAR AND OTHER SWEETENERS 2003-2011 (MT IN THOUSANDS)... XXXI OVERVIEW... 1 PROPERTIES AND COMPOSITION OF SUGARS AND SUGAR- BASED CALORIC SWEETENERS... 1 TABLE 1 SOME PROPERTIES OF SUGAR AND OTHER CALORIC SWEETENERS... 1 CARBOHYDRATE CHEMISTRY... 2 SUGARS... 2 SUGAR ALCOHOLS... 3 TABLE 2 PROPERTIES OF SUGAR ALCOHOLS AND SUGAR... 4 HISTORY... 5 TABLE 3 EARLY CHRONOLOGY OF SUGAR AND SWEETENERS... 5 EARLY CULTIVATION OF CANE SUGAR... 6 EARLY MARKETS FOR CANE SUGAR... 6 OTHER SOURCES OF SUGAR BESIDES SUGAR CANE... 7 CORN DISTILLATION AND THE FIRST CORN SWEETENERS... 8 TABLE 4 LATER CHRONOLOGY OF SUGAR, OTHER SWEETENERS, AND HIS... 8 MARKET CHANGES IN CALORIC SWEETENER USAGE... 9 ARTIFICIAL, NONCALORIC SUGAR SUBSTITUTES... 9 SUGAR VERSUS OTHER SWEETENERS... 10 SUGAR VERSUS OTHER SWEETENERS (CONTINUED)... 11 SUGAR AND SWEETENER TRENDS... 12 SWEETENER TYPES... 12 SUGAR (SUCROSE)... 13 OTHER CALORIC (NUTRITIVE) SWEETENERS... 13
TABLE 5 ESTIMATED PERCENTAGE OF ANNUAL NUTRITIVE SWEETENER USE IN THE U.S. (%, BASED ON APPROX. 150 LBS PER YEAR PER CAPITA CONSUMPTION)... 14 Corn-Derived Sweeteners (HFCS, Dextrose/Glucose, etc.)... 14 Sugar Alcohols... 15 Minor Caloric Sweeteners (Honey, Maple Syrup, etc.)... 15 HIGH-INTENSITY (NON-NUTRITIVE) SWEETENERS... 16 APPLICATIONS AND ATTRIBUTES... 17 TABLE 6 SOME KEY SUGAR AND SWEETENER APPLICATIONS... 17 FLAVOR ENHANCEMENT... 17 TEXTURE... 18 BULK... 18 BLENDING... 18 MOUTH FEEL... 18 HUMECTANCY... 19 PRESERVATION... 19 BROWNING... 19 FERMENTATION... 20 COLOR... 20 CALORIC IMPACT... 20 SUGAR MARKET... 21 SUGAR MARKET... 21 OVERALL U.S. SUGAR MARKET... 22 TABLE 7 ESTIMATED U.S. SUGAR MARKET BY TYPE, THROUGH 2011 (MT IN THOUSANDS)... 22 FIGURE 1 ESTIMATED U.S. SUGAR MARKET BY TYPE, 2003-2011 (MT IN THOUSANDS)... 23 SUGAR TYPES, PROPERTIES, AND FUNCTIONS... 24 TABLE 8 SOME FUNCTIONS AND ADVANTAGES OF DIFFERENT TYPES OF SUGARS... 24 WHITE (REFINED) SUGAR... 24 Flavor Enhancement... 25 Texturizing, Bulking, and Blending... 25 Mouth Feel... 25 Humectancy and Preservative Action... 25 Fermentation... 26 Color and Browning (Caramelization)... 26 Caloric Impact... 26 BROWN SUGARS AND MOLASSES... 26 Flavor Enhancement... 27 Texturizing, Bulking, and Blending... 27 Mouth Feel... 27 Humectancy and Preservative Action... 27 Fermentation... 27
Color and Browning Attributes... 28 Caloric Impact... 28 INVERT SUGAR... 28 Flavor Enhancement... 28 Texturizing, Bulking, and Blending... 28 Mouth Feel... 29 Humectancy and Preservative Action... 29 Fermentation... 29 Color and Browning Attributes... 29 Caloric Impact... 29 SUGAR APPLICATIONS IN THE U.S.... 30 TABLE 9 ESTIMATED U.S. SUGAR APPLICATIONS IN COMMERCIAL FOOD AND BEVERAGES, THROUGH 2011 (MT IN THOUSANDS)... 30 TABLE 9 (CONTINUED)... 31 U.S. SUGAR PRICES... 31 BEVERAGES... 32 BAKED GOODS AND CEREALS... 33 CANDY/CONFECTIONERY... 34 ICE CREAM AND DAIRY PRODUCTS... 34 CANNED, BOTTLED, AND FROZEN FOODS... 35 SUGAR MARKET ASSESSMENT... 35 CONCLUSION... 36 Conclusion (Continued)... 37 OTHER SWEETENER MARKETS... 38 OTHER SWEETENER MARKETS... 38 TABLE 10 COMPARISON OF OTHER SWEETENERS WITH SUCROSE (%)... 39 OVERALL MARKET FOR SWEETENERS OTHER THAN SUCROSE... 39 TABLE 11 ESTIMATED U.S. MARKET FOR OTHER SWEETENERS BY TYPE THROUGH 2011 (MT IN THOUSANDS)... 40 FIGURE 2 ESTIMATED U.S. MARKET FOR OTHER SWEETENERS BY TYPE 2003-2011 (MT IN THOUSANDS)... 40 OVERALL MARKET FOR SWEETENERS (CONTINUED)... 41 HFCS AND OTHER CORN-DERIVED SWEETENERS... 42 HFCS AND CORN-DERIVED SWEETENERS MARKET... 42 TABLE 12 ESTIMATED U.S. HFCS AND CORN-DERIVED SWEETENERS MARKET BY TYPE, THROUGH 2011 (MT IN THOUSANDS)... 42 FIGURE 3 ESTIMATED U.S. HFCS AND CORN-DERIVED SWEETENERS MARKET BY TYPE, 2003-2011 (MT IN THOUSANDS)... 43 PROPERTIES AND FUNCTIONALITY BY TYPE... 44 High Fructose Corn Syrups... 45
Flavor Enhancement... 45 Texturizing, Bulking, and Blending... 45 Mouth Feel... 45 Humectancy and Preservative Action... 45 Fermentation... 46 Color and Browning Attributes... 46 Caloric Impact... 46 Glucose, Dextrose, and other Corn Syrups... 46 Flavor Enhancement... 46 Texturizing, Bulking, and Blending... 46 Mouth Feel... 46 Humectancy and Preservative Action... 47 Fermentation... 47 Color and Browning Attributes... 47 Caloric Impact... 47 HFCS AND CORN-DERIVED SWEETENER APPLICATIONS... 47 TABLE 13 ESTIMATED U.S. USAGE OF HFCS AND CORN SWEETENER IN COMMERCIAL FOOD AND BEVERAGE APPLICATIONS, THROUGH 2011 (MT IN THOUSANDS)... 48 Beverages... 48 Bakery, Cereals, and Related Bakery Products... 49 Ice Cream and Dairy Products... 50 Candy and Confectionery... 50 HFCS AND CORN SWEETENER MARKET ASSESSMENT... 51 SUGAR ALCOHOLS (POLYHYDRIC ALCOHOLS, POLYOLS)... 52 TABLE 14 ESTIMATED U.S. SUGAR ALCOHOL MARKET BY TYPE, THROUGH 2011 (MT IN THOUSANDS)... 53 Sugar Alcohols Market (Continued)... 54 TABLE 15 COMPARISON OF SUGAR ALCOHOLS WITH SUCROSE... 55 PROPERTIES, FUNCTIONS, AND MARKETS BY SUGAR ALCOHOL... 55 Erythritol... 55 Flavor Enhancement... 56 Texturizing, Bulking, and Blending... 56 Mouth Feel... 57 Humectancy and Preservative Action... 57 Fermentation... 57 Caloric Impact... 57 Market Estimate and Forecast... 57 TABLE 16 ESTIMATED U.S. USAGE OF ERYTHRITOL IN COMMERCIAL FOOD AND BEVERAGE APPLICATIONS, THROUGH 2011 (MT IN THOUSANDS)... 58 Isomalt... 58 Flavor Enhancement... 59
Texturizing, Bulking, and Blending... 59 Mouth Feel... 59 Humectancy and Preservative Action... 59 Fermentation... 59 Color and Browning Attributes... 60 Caloric Impact... 60 Market Estimate and Forecast... 60 TABLE 17 ESTIMATED U.S. USAGE OF ISOMALT IN COMMERCIAL FOOD AND BEVERAGE APPLICATIONS, THROUGH 2011 (MT IN THOUSANDS)... 60 Lactitol... 61 Flavor Enhancement... 61 Texturizing, Bulking, and Blending... 61 Mouth Feel... 61 Humectancy and Preservative Action... 61 Fermentation... 61 Caloric Impact... 62 Market Estimate and Forecast... 62 TABLE 18 ESTIMATED U.S. USAGE OF LACTITOL IN COMMERCIAL FOOD AND BEVERAGE APPLICATIONS, THROUGH 2011 (MT IN THOUSANDS)... 62 Maltitol... 62 Flavor Enhancement... 63 Texturizing, Bulking, and Blending... 63 Mouth Feel... 63 Humectancy and Preservative Action... 64 Browning Qualities and Color... 64 Caloric Impact... 64 Market Estimate and Forecast... 64 TABLE 19 ESTIMATED U.S. USAGE OF MALTITOL IN COMMERCIAL FOOD AND BEVERAGE APPLICATIONS, THROUGH 2011 (MT IN THOUSANDS)... 64 Mannitol... 65 Flavor Enhancement... 65 Texturizing, Bulking, and Blending... 66 Humectancy and Preservative Action... 66 Browning Qualities and Color... 66 Caloric Impact... 66 Market Estimate and Forecast... 66 TABLE 20 ESTIMATED U.S. USAGE OF MANNITOL IN COMMERCIAL FOOD AND BEVERAGE APPLICATIONS, THROUGH 2011 (MT IN THOUSANDS)... 66 TABLE 20 (CONTINUED)... 67 Sorbitol... 67
Flavor Enhancement... 68 Texturizing, Bulking, and Blending... 68 Mouth Feel... 68 Humectant and Preservative Action... 68 Color and Browning Attributes... 68 Caloric Impact... 68 Market Estimate and Forecast... 69 TABLE 21 ESTIMATED U.S. USAGE OF SORBITOL IN COMMERCIAL FOOD AND BEVERAGE APPLICATIONS, THROUGH 2011 (MT IN THOUSANDS)... 69 Xylitol... 69 Flavor Enhancement... 70 Texturizing, Bulking, and Blending... 70 Mouth Feel... 70 Humectancy and Preservative Action... 71 Caloric Impact... 71 Market Estimate and Forecast... 71 TABLE 22 ESTIMATED U.S. USAGE OF XYLITOL IN COMMERCIAL FOOD AND BEVERAGE APPLICATIONS, THROUGH 2011 (MT IN THOUSANDS)... 71 SUGAR ALCOHOL APPLICATIONS AND MARKETS... 72 TABLE 23 ESTIMATED U.S. USAGE OF SUGAR ALCOHOLS IN COMMERCIAL FOOD AND BEVERAGE APPLICATIONS, THROUGH 2011 (MT IN THOUSANDS)... 72 Beverages... 73 Bakery, Cereal, and Related Products... 73 Dairy Products and Ice Cream... 73 Candy and Confectionery... 74 SUGAR ALCOHOL MARKET ASSESSMENT... 74 Sugar Alcohol Market Assessment (Continued)... 75 HIGH-INTENSITY SWEETENERS... 76 TABLE 24 SOME CHARACTERISTICS OF COMMERCIAL HIGH- INTENSITY SWEETENERS... 77 HIGH-INTENSITY SWEETENERS MARKET (HIS)... 78 TABLE 25 ESTIMATED U.S. HIGH INTENSITY SWEETENER MARKET BY TYPE THROUGH 2011 (MT)... 78 FIGURE 4 ESTIMATED U.S. HIGH INTENSITY SWEETENER MARKET BY TYPE, 2003-2011 (MT)... 78 PROPERTIES, FUNCTIONS, AND HIGH-INTENSITY SWEETENER MARKETS... 79 Aspartame... 79 Aspartame (Continued)... 80 Flavor Enhancement... 81 Texturizing, Bulking, and Blending... 81
Mouth Feel... 81 Humectancy and Preservative Action... 81 Fermentation... 82 Color and Browning Attributes... 82 Caloric Impact... 82 Market Estimate and Forecast... 82 TABLE 26 ESTIMATED U.S. USAGE OF ASPARTAME IN COMMERCIAL FOOD AND BEVERAGE APPLICATIONS, THROUGH 2011 (MT)... 83 Acesulfame-K (Ace-K)... 83 Flavor Enhancement... 84 Texturizing, Bulking, and Blending... 84 Mouth Feel... 85 Humectancy and Preservative Action... 85 Fermentation... 85 Color and Browning Attributes... 85 Caloric Impact... 85 Market Estimate and Forecast... 85 TABLE 27 ESTIMATED U.S. USAGE OF ACE-K IN COMMERCIAL FOOD AND BEVERAGE APPLICATIONS, THROUGH 2011 (MT)... 86 Saccharin... 86 Flavor Enhancement... 87 Texturizing, Bulking, and Blending... 87 Mouth Feel... 88 Humectancy and Preservative Action... 88 Fermentation... 88 Color and Browning Attributes... 88 Caloric Impact... 88 Market Estimate and Forecast... 88 TABLE 28 ESTIMATED U.S. USAGE OF SACCHARIN IN COMMERCIAL FOOD AND BEVERAGE APPLICATIONS, THROUGH 2011 (MT)... 89 Sucralose... 89 Flavor Enhancement... 90 Texturizing, Bulking, and Blending... 90 Mouth Feel... 91 Humectancy and Preservative Action... 91 Fermentation... 91 Color and Browning Attributes... 91 Caloric Impact... 91 TABLE 29 ESTIMATED U.S. USAGE OF SUCRALOSE IN COMMERCIAL FOOD AND BEVERAGE APPLICATIONS, THROUGH 2011 (MT)... 92
HIGH-INTENSITY SWEETENER MARKETS AND APPLICATIONS... 93 TABLE 30 ESTIMATED U.S. USAGE OF HIGH INTENSITY SWEETENERS IN COMMERCIAL FOOD AND BEVERAGE APPLICATIONS, THROUGH 2011 (MT)... 93 High-intensity Sweetener (Continued)... 94 Beverages... 95 Bakery, Cereal and Related Products... 96 Ice Cream and Dairy Products... 96 Candy and Confectionery... 96 HIGH-INTENSITY SWEETENER MARKET ASSESSMENT... 96 Aspartame... 97 Ace-K... 98 Saccharin... 98 Sucralose... 98 Conclusions... 99 OTHER CALORIC SWEETENERS... 100 OTHER CALORIC SWEETENERS MARKET... 100 TABLE 31 ESTIMATED U.S. HONEY AND MAPLE SYRUP MARKET, THROUGH 2011 (MT IN THOUSANDS)... 100 FIGURE 5 ESTIMATED U.S. HONEY AND MAPLE SYRUP MARKET, THROUGH 2011 (MT IN THOUSANDS)... 101 PROPERTIES AND FUNCTIONALITY BY PRODUCT... 102 Honey... 102 Flavor Enhancement... 103 Texturizing, Bulking, and Blending... 103 Mouth Feel... 103 Humectancy and Preservative Action... 104 Fermentation... 104 Color and Browning Attributes... 104 Caloric Impact... 104 Maple Syrup... 104 Flavor Enhancement... 105 Mouth Feel... 105 Humectancy and Preservative Action... 105 Fermentation... 105 Color and Browning Attributes... 105 Caloric Impact... 105 OVERALL CONCLUSION: OTHER SWEETENERS... 105 OVERALL CONCLUSION: (CONTINUED)... 106 TECHNOLOGY... 107 CHEMISTRY AND TECHNOLOGY OF SUGAR... 107 MONOSACCHARIDES... 107 DISACCHARIDES... 108
HIGHER SACCHARIDES: POLY- OR OLIGOSACCHARIDES... 108 METHODS FOR EXTRACTION AND REFINING SUGAR... 108 Refining of Sugar Cane... 108 Refining of Sugar Cane (Continued)... 109 Sugar Beet Refining... 110 RESEARCH AND RECENT DEVELOPMENTS IN SUGAR PRODUCTION... 111 CHEMISTRY AND TECHNOLOGY OF HFCS AND OTHER CORN SWEETENERS... 112 PRODUCTION OF CORN SWEETENERS FROM CORNSTARCH... 113 Production of HFCS from Cornstarch... 113 TECHNOLOGY AND CHEMISTRY OF SUGAR ALCOHOLS (POLYOLS)... 114 HIS TECHNOLOGY... 115 TABLE 32 SOME CHARACTERISTICS OF COMMERCIAL HIGH- INTENSITY SWEETENERS... 116 ASPARTAME... 116 ACESULFAME-K... 117 SACCHARIN... 118 SUCRALOSE... 119 SELECTED PATENT TECHNOLOGY... 120 TABLE 33 SOME SELECTED U.S. SWEETENER PATENTS... 120 TABLE 33 (CONTINUED)... 121 SELECTED PATENT ABSTRACTS... 122 Aspartame... 122 Patent No. 3,492,131: Peptide Sweetening Agents... 122 Erythritol... 123 Fermentation Process for the Production of Erythritol (Patent No. 3,756,917)... 123 Invert Sugar... 123 Sorbitol... 124 Catalytic Hydrogenation of Glucose to Produce Sorbitol (Patent No. 4,322,569)... 124 Sucralose... 124 Tagatose... 125 Process for Manufacturing Tagatose (Patent No. 5,002,612)... 125 Xylitol... 125 Process for Making Xylitol (Patent No. 4,008,285)... 125 Xylitol (Continued)... 126 INDUSTRY FACTORS, CONCERNS, COMPETITIVENESS, AND TRENDS... 127 BACKGROUND... 127 CONCERNS OVER PROPERTIES... 128
HEALTH ISSUES... 128 TABLE 34 SOME HEALTH ISSUES CONCERNING SUGAR AND SWEETENERS... 129 Weight Gain... 130 TABLE 35 PREVALENCE STATISTICS RELATED TO THE OVERWEIGHT AND OBESE IN THE U.S., 1976 2004 (%)... 131 Diabetes... 131 Sugar... 132 Corn-Derived Sweeteners... 133 Sugar Alcohols... 133 HIS... 134 DEMAND CHARACTERISTICS OF SUGAR AND OTHER SWEETENERS... 135 SUGAR (SUCROSE)... 135 TABLE 36 DEMAND CHARACTERISTICS OF SUGAR BY TYPE AND APPLICATION... 136 OTHER NUTRITIVE/CALORIC SWEETENERS... 137 TABLE 37 DEMAND CHARACTERISTICS OF OTHER NUTRITIVE SWEETENERS BY TYPE AND APPLICATION... 137 TABLE 37 (CONTINUED)... 138 HIS... 138 TABLE 38 DEMAND CHARACTERISTICS FOR HIGH INTENSITY SWEETENERS BY TYPE AND APPLICATION... 139 TABLE 38 (CONTINUED)... 140 CURRENT STATUS OF SUGAR AND SWEETENER COMPETITIVENESS... 140 GENERAL ECONOMIC CONSIDERATIONS... 140 Marketing... 140 Marketing (Continued)... 141 Consumer Health Perceptions... 142 Usage of Sugar... 143 Usage of Other Caloric Sweeteners... 143 The Impact of High-Intensity Sweeteners... 144 MARKET GROWTH FACTORS... 144 Market Shifts and Marketing Agreements... 145 TABLE 39 MARKET SHARE COMPARISON OF SUGAR AND OTHER SWEETENERS IN THE U.S., 2003 2011 (%)... 145 Impact of Market Growth Factors... 146 TABLE 40 SOME MAJOR COMPETITIVENESS FACTORS AFFECTING DEMAND FOR SUGAR AND OTHER SWEETENERS (%)... 146 SOME TRENDS AND DEVELOPMENTS... 147
TABLE 41 PROJECTED MARKET PENETRATION OF DIFFERENT SWEETENERS IN PROCESSED FOODS AND BEVERAGES, 2006 2011 (%)... 148 MULTIFUNCTION BEVERAGES... 149 SWEETENER BLENDS... 150 MODIFIED SUGAR... 151 MERGERS AND ACQUISITIONS... 152 SWEETENERS ON THE HORIZON... 153 Alitame... 153 Beflora... 154 Brazzein... 154 Cyclamates... 154 Dulcin... 155 Glycyrrhizin... 155 Hernaculin... 156 Inulins... 156 Left-Handed Sugar... 156 Miraculin... 156 Monellins... 157 Neotame... 157 Neohesperidin Dihydrochalcones... 158 Phyllodulcin... 158 Stevioside (Stevia)... 158 Suosans... 159 Tagatose... 159 Thaumatin... 159 Thaumatin (Continued)... 160 GOVERNMENT REGULATIONS AND PUBLIC ISSUES... 161 REGULATIONS AFFECTING SUGAR AND SWEETENERS... 161 TABLE 42 FEDERAL REGULATIONS GOVERNING SUGAR AND SWEETENERS... 162 CFR TITLE 21... 162 CFR Title 21 (Continued)... 163 Sugar and Nutritive Sweeteners with GRAS Status... 164 Sweeteners with Interim GRAS Status Pending Additional Study... 165 Recent GRAS Status Approvals... 166 Approval Status of HIS... 166 HIS with Interim GRAS Status Pending Additional Study... 167 Currently Banned High Intensity Sweeteners... 167 Other Regulations Regarding Sugar and Sweeteners... 168 International Statutes Regulating Sugar and Sweeteners... 169 PUBLIC CONCERNS AND ISSUES... 169 CURRENT CONCERNS OVER HFCS... 170
SUCRALOSE ADVERTISING PROBLEMS... 171 Sucralose Advertising (Continued)... 172 BIOETHICS AND ENVIRONMENTAL ISSUES AND CONCERNS... 173 Genetically Modified Corn... 173 Acceptable Daily Intake (ADI)... 174 Environmental Impacts of Sugar Cultivation... 175 CARIES, HIS, AND OTHER PUBLIC CONCERNS... 176 Caries, HIS, and other (continued)... 177 SOME INTERNATIONAL ASPECTS... 178 THE INTERNATIONAL SUGAR MARKET... 178 INTERNATIONAL SUGAR PRODUCTION... 179 TABLE 43 SUGAR PRODUCTION AND OTHER DATA FOR THE TOP 10 PRODUCERS 2005 2006... 180 TABLE 44 GLOBAL SUGAR PRODUCTION AND TRADE BY REGION, 2002 2007 (MT IN THOUSANDS)... 181 TABLE 44 (CONTINUED)... 182 INTERNATIONAL SUGAR PRICES... 183 TABLE 45 PRICE OF RAW SUGAR, 2005 2007 (CENTS/LB)... 184 TABLE 46 DOMESTIC RETAIL SUGAR PRICES, 2005 2006 SEASON (CENTS/LB)... 185 European Union Plan... 185 European Union Plan (Continued)... 186 Mideast Sugar Refining... 187 Price Supports and Subsidies in the U.S.... 187 Example: The World Sugar Price/Supply Situation, Spring 2007... 188 U.S. SUGAR IMPORTS... 188 U.S. Sugar Imports (Continued)... 189 TABLE 47 U.S. SUGAR TARIFF RATE QUOTA IMPORTS 1994 1995 TO 2006 2007 (MT IN THOUSANDS)... 190 THE INTERNATIONAL HFCS MARKET... 190 TABLE 48 U.S. HFCS PRODUCTION AND IMPORTS, 1992 2006 (MT IN THOUSANDS)... 191 THE INTERNATIONAL HFCS MARKET (CONTINUED)... 192 COMPANY PROFILES... 193 INTRODUCTION... 193 SWEETENER MANUFACTURERS AND REFINERS/PROCESSORS... 194 AMERICAN CRYSTAL SUGAR CO.... 194 ARCHER DANIELS MIDLAND CO.... 195 BRITISH SUGAR, PLC... 196 C&H SUGAR CO., INC.... 197 CARGILL, INC.... 197
CARGILL EUROPE/CERESTAR, INC.... 198 CELANESE CORP./NUTRINOVA, INC. (AMERICA)... 199 CORN PRODUCTS INTERNATIONAL, INC.... 199 FLORIDA CRYSTALS CORP.... 200 IMPERIAL SUGAR CO.... 200 THE NUTRASWEET CO.... 201 PENFORD CORP./PENFORD FOOD INGREDIENTS CO.... 202 PMC SPECIALTIES GROUP, INC.... 202 ROQUETTE AMERICA, INC.... 203 SPHERIX INC./BIOSPHERIX... 203 SPI POLYOLS, INC.... 204 SUGAR CANE GROWERS COOPERATIVE OF FLORIDA... 205 TATE & LYLE, PLC/A.E. STALEY MANUFACTURING CO.... 205 UNITED STATES SUGAR CORP.... 206 FOOD AND BEVERAGE PROCESSORS... 207 CADBURY SCHWEPPES, PLC... 207 THE COCA-COLA CO.... 208 CONAGRA FOODS, INC.... 209 DA VINCI GOURMET... 209 DAWN FOOD PRODUCTS, INC.... 210 GENERAL MILLS, INC.... 210 H. J. HEINZ CO.... 211 KELLOGG CO.... 211 KRAFT FOODS, INC.... 212 NATIONAL BEVERAGE CORP.... 212 NESTLÉ USA, INC.... 213 PEPSICO... 214 SARA LEE CORP.... 214 THE J.M. SMUCKER CO.... 215 UNILEVER... 215 WILLIAM WRIGLEY JR. CO.... 216 APPENDIX... 217 GLOSSARY OF IMPORTANT TERMS, ABBREVIATIONS, AND ACRONYMS... 217 GLOSSARY OF IMPORTANT TERMS (CONTINUED)... 218 GLOSSARY OF IMPORTANT TERMS (CONTINUED)... 219 GLOSSARY OF IMPORTANT TERMS (CONTINUED)... 220 GLOSSARY OF IMPORTANT TERMS (CONTINUED)... 221 GLOSSARY OF IMPORTANT TERMS (CONTINUED)... 222 GLOSSARY OF IMPORTANT TERMS (CONTINUED)... 223 GLOSSARY OF IMPORTANT TERMS (CONTINUED)... 224