NEWARK, Del, Oct. 24, 2023 (GLOBE NEWSWIRE) -- In 2022, the sweetener market was valued at US$ 109.4 billion. The industry is projected to be valued at US$ 113.8 billion by the end of 2023. The sweetener market will likely expand at a 3.7% CAGR over the course of the forecast period, reaching a valuation of US$ 164.4 billion by 2033.
More and more customers are searching for natural and plant-based sweeteners to take the place of artificial and high-fructose corn syrup. Since they are thought to be more sustainable and natural, sweeteners like monk fruit, agave nectar, and stevia are becoming increasingly common. Changing preferences of the consumers for natural sweeteners led to an increase in the sweetener industry.
Governments all throughout the world have implemented sugar taxes and limits in an effort to lower the quantity of sugar in food and beverages. The sector has grown as a result of regulatory initiatives forcing food and beverage makers to employ sweeteners to reduce sugar content in order to comply with laws and avoid further taxes.
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Key Takeaways from the Market Analysis
- The sweetener market expanded at a 1.7% CAGR throughout the historical period.
- The United States sweetener market earned around 25.1% of the global market share in 2022.
- In 2022, the German sweetener market surged to a 7.9% market share.
- Japan sweetener market held a 4.8% market share in 2022.
- The sweetener market in China is anticipated to develop between 2023 and 2033 at a 2.3% CAGR.
- Throughout the projected period, the sweetener market in the United Kingdom is expected to advance at a 4.6% CAGR.
- The artificial sweetener market share acquired a 51.3% market share in 2022.
- The food and beverage industry accounted for 40.5% of the global market in 2022.
“The increasing rate of diabetes and the trewnd towards low calori and low sugar diets have propelled manufacturers to focus more on artificial sweeteners, thus bolstering growth,” says Nandini Roy Choudhury Client Partner for Food and Beverages at Future Market Insights, Inc.
Competitive Landscape
Over the past several years, the global sweetener manufacturers have seen substantial yearly growth due to the rising demand for low-sugar food items and the vast range of applications for sweeteners.
The market is extremely fragmented as a result of the existence of a number of companies. Well-known companies in the industry offer solutions to players in the food and beverage, personal care, and pharmaceutical industries. Major firms are focusing on releasing plant-based natural sweeteners in order to suit customer requirements.
Key Developments
- EverSweet + ClearFlo, a novel sweetener system from Cargill, combines the company's stevia sweetener with a natural taste. This combination offers advantages such enhanced solubility as well as stability in formulations, quicker dissolving, and flavor customization.
- Cargill opened a wet corn mill in Pandaan in 2022 to meet the growing demand from clients in the feed, starch, and sweetener sectors in Asia as well as Indonesia. The USD 100 million facility is expected to stimulate the local economy and support the growth of the food and beverage industry in the area.
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Key companies profiled
- 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.
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Segmentation Analysis of the Sweetener Market
By Nature:
- Organic
- Conventional
By Product Type:
- Sucrose
- Natural Sweeteners
- Stevia
- Palm Sugar
- Coconut Sugar
- Honey
- Maple Syrup
- Monk Fruit Sugar
- Agave Syrup
- Lucuma Fruit Sugar
- Molasses
- Other Natural Sweeteners
- Artificial Sweeteners
- Acesulfame Potassium
- Aspartame
- Neotame
- Advantame
- Saccharin
- Sucralose
- Other Artificial Sweeteners
- Novel Sweeteners
- Sugar Alcohol
By Industry:
- Food & Beverage
- Sweet spreads
- Bakery goods
- Beverages
- Dairy products
- Confectionery & Chewing gums
- Others
- Direct sales
- Pharmaceuticals
- Others
By Form:
- Powder
- Liquid
- Crystals
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East & Africa
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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The artificial sweeteners market size was worth US$ 2.4 billion in 2022, and it is expected to be worth US$ 3.1 billion by 2033, rising at a CAGR of 3.12% between 2023 and 2033.
The high-intensity sweeteners market trend for is estimated at US$ 2.0 billion in 2022 and is expected to increase at a CAGR of 6.1% during the forecast period, reaching US$ 3.6 billion by 2032.
The global low-calorie sweeteners market demand is estimated to approach US$ 29 billion by 2022 and grow at a CAGR of 4.7% from 2022 to 2032.
The Intensive Sweeteners market share is predicted to expand at a 4.0% CAGR. The market value is expected to rise from $1,314.2 million in 2022 to $1,945.3 million by 2032.
During the forecast period, the Corn sweeteners market growth is expected to grow at a CAGR of 6.01%. Forecasts indicate that the market would be worth US$ 17,178.4 million in 2033, up from US$ 9,502.3 million in 2023.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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