Global Sweetener Market reaching nearly US$ 160 Bn by 2027
In 2021, the sweetener market is valued at nearly US$ 137 Bn. The market is projected to grow at a CAGR of 3.2% through 2027, reaching nearly US$ 160 Bn by 2027. Consumer awareness about the potential health impact of sweeteners is driving the shift toward sugar-free products.
Food and Beverages is the largest application segment for sweetener market that is valued at US$ 95 Bn with the projection value of US$ 115 Bn at 3.2% CAGR through 2027.
Sucrose remains the preferred product type, accounting for nearly 66% revenue share of the market currently. In terms of revenues, the global sucrose market is estimated to be worth US$ 26.83 Bn. However, the after-taste of sucrose alternative products is impeding demand globally.
Natural sweeteners, the second-largest product type, currently holds a market share of nearly 22% globally. This segment is anticipated to gain market share during the for forecast period.
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One of the latest trends witnessed in the global sweetener market is the rise in the production of organic sweeteners. Companies operating in the sweetener market are diversifying their product portfolio by reading the consumers’ sentiments about organic honey, organic sugar, stevia, and more. Such products are found to be reducing blood-sugar levels. In addition, several studies have found that stevia has a high degree of digestive tolerance with low carbohydrate content. Such a blend of health without compromising on the taste of sugar could bring prodigious prospects for the sweetener market growth.
The key trends in the global sweeteners include increasing investments by companies and geographical expansion by key players. Further, due to the limited number of buyers and sellers in the market, most companies are focusing on cost optimization.
Food and beverages sector is the largest application segment in the global sweetener market. This segment currently accounts for nearly 70% revenue share. The food and beverage sector will continue to be the largest application segment throughout the forecast period. In terms of revenues, this will represent a market valuation of over US$ 115 Bn in 2027. During the forecast period 2017-2027, demand for food and beverage segment will grow at a CAGR of 3.2%.
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During the COVID-19 crisis, the sweetener market is likely to witness a stagnation, owing to the limited availability of products in supermarkets. Besides this, increased focus on improving health and immunity might lead to the shift towards natural sweeteners like honey and jaggery. As a result, natural sweeteners are likely to uphold relatively more share than artificial sweeteners in the sweetener market during the forecast period.
Investments by key players in low-calorie sweeteners, cost optimisation and process standardisation are the new trends in the global sweetener market
The novel sweetener and artificial sweetener market have few buyers and sellers in the global market, and hence companies are focussing on cost optimisation in order to increase productivity and market share. Moreover, manufacturing non-sugar and low-calorie sweeteners involves a standard extraction process. Companies in the global sweetener market have patent extraction processes for the same. This is further supported by stringent government regulations due to health issues.
Increasing investments by companies coupled with geographical expansion by market players has led to high competitiveness in the global sweetener market report. In addition to this, increased brand awareness of products dealing with specific issues such as obesity curtailment, nutritive advantages and health benefits is expected to drive demand for artificial sweeteners and novel sweeteners specifically stevia extracts in the near future.
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Key companies profiled in the report include Carl Kühne KG (GmbH & Co.), Castelo Alimentos S/A, Aspall Cyder Ltd, White house foods, Spectrum Organic Products, LLC, Higher Nature Limited., Vitane Pharmaceuticals, Inc., the kraft heinz company, Bragg Live Food Products, Inc., Swanson Health Products, Inc., Solana Gold Organics, Amfac, Inc.(American Garden), Mautner Markhof Feinkost GmbH, GNC holdings inc, Eden Foods, Inc., Pompeian, Inc., NutraMarks, Inc., Eden Nuganics, Viva Naturals, Health Connection Wholefoods.
Key Questions Answered in the Report
- What is the size of the sweetener market?
- Which is the largest market for sweetener?
- Which are the top companies in sweetener market?
- What are the uses of sweetener?
- In which forms are sweetener available?
- What is the outlook on North America sweetener market?
- What is the present and future market potential for low-calorie sweeteners in the near future?
- How big is Sweetener market?
- What are the leading sweetener companies?
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