Vancouver, Nov. 02, 2023 (GLOBE NEWSWIRE) -- The global natural sweeteners market size reached USD 2.9 Billion in 2021 and is expected to register a significantly rapid revenue CAGR during the forecast period, according to latest analysis by Emergen Research. Increasing awareness regarding adverse effects of artificial sweetener related diseases such as obesity and diabetes is one of the major factors expected to drive market revenue growth.
Drivers:
Natural sweeteners are gaining popularity owing to anti-cariogenic effects, low caloric value, and others. Natural sweeteners are healthier compared to processed sugar and artificial sweeteners as these have additional nutrients such as minerals, vitamins, and enzymes, which makes the product more preferred than other similar products on the market. Rising health awareness and increasing prevalence of chronic diseases, obesity, and Type 2 diabetes have shifted a wide population towards low-calorie foods, which has increased the consumption of natural sweeteners and is expected to boost global natural sweeteners market revenue growth over the forecast period. In addition, new natural sweetener based product launches and availability of healthier food choices, coupled with rapid growth of food and beverages industries will boost consumption of natural sweeteners to a significant extent.
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Restraints:
However, variation in quality and yield of natural sweeteners has resulted in variation in costs and high prices of natural sweeteners, which is expected to hamper growth of the market during the forecast period. In addition, overconsumption of natural sweeteners can lead to various health problem such as poor nutrition, tooth decay, increased triglycerides, weight gain, and others. Besides, the U.S Food and Drug Administration (FDA) has not approved crude stevia leaves safe for human consumption, which is expected to hamper market growth during the forecast period.
Growth Projections:
The global natural sweeteners market is expected to register a CAGR of 6.7% over the forecast period and revenue is projected to increase from USD 2.9 Billion in 2021 to USD 6.03 Billion in 2032. Increasing utilization of natural sweeteners such as stevia, honey, coconut sugar, monk fruit and others in various end-use industries is revenue growth of the market.
COVID-19 Impact Analysis:
COVID-19 pandemic had a wide-ranging impact on various industries. The pandemic has slowed global economic growth. However, demand for natural sweeteners in food & beverages and pharmaceuticals industries continued owing to need to meet food demand and need for such products during the lockdowns. COVID-19 pandemic caused supply chain disruptions due to delayed raw material supply and delivery. Also, consumers focusing on weight management and following personalized diets for maintaining good health supported demand.
Current Trends and Innovations:
Development of white sugar alternative such as coconut palm sugar is expected to boost growth of the market in the forecast period. Coconut palm sugar is obtained from the sap of flower bud stem of the coconut palm. It is a much healthier option as compared to other substitutes as it has less fructose and low glycemic index. It is healthier option for weight loss and is widely used in the food industry in teas, juices, confectionary, and baked goods. It is also popular owing to its anti-aging properties as it contains essential amino acids that aid in the production of collagen in the skin.
Geographical Outlook:
North America is expected to register a significantly robust revenue growth rate over the forecast period. Diversified applications of natural sweeteners and availability of various food and beverages with natural ingredients are factors contributing to revenue growth of the market.
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Scope of Research
| Report Details | Outcome |
| Market size in 2021 | USD 2.9 Billion |
| CAGR (2023–2032) | 6.7% |
| Revenue forecast to 2032 | USD 6.03 Billion |
| Base year for estimation | 2021 |
| Historical data | 2019–2020 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | type, end-use, application, and region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
| Key companies profiled | Tate & Lyle, PureCircle, Foodchem International Corporation, Wilmar International Ltd., Stevia Hub India, Suminter India Organics, Hearthside Food Solutions LLC, Evolva, ADM ,and Pyure Brands LLC. |
| Customization scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global natural sweeteners market is fairly fragmented, with a number of large and medium-sized players accounting for majority market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective natural sweeteners. Some major companies included in the global natural sweeteners market report are:
- Tate & Lyle
- PureCircle
- Foodchem International Corporation
- Wilmar International Ltd.
- Stevia Hub India
- Suminter India Organics
- Hearthside Food Solutions LLC
- Evolva
- ADM
- Pyure Brands LLC
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Strategic Development
- In January 2021, Tate & Lyle, which is a leading global food & beverage ingredient company, and Codexis, Inc., which is a leading protein engineering company have extended their relationship to enhance production of Tate & Lyle’s newest natural stevia-based sweetener TASTEVA M. Tate & Lyle’s experts will enable additional production efficiencies and ability to accelerate sugar and calorie reduction with best taste.
- In April 2020, Ingredion, which is a U.S-based food company, acquired 75% controlling stake in U.S-based company PureCircle for an undisclosed amount. PureCircle manufactures natural sweeteners such as stevia for the food and beverage industry. With this acquisition, PureCircle will benefit from Ingredion's diverse product portfolio and global distribution network, which will result in in growth prospects and considerable cost savings for both firms.
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Emergen Research has segmented the global natural sweeteners market on the basis of type, end-use, application, and region:
- Type Outlook (Revenue, USD Billion; 2019–2032)
- Stevia
- Sorbitol
- Xylitol
- Mannitol
- Erythritol
- Sweet proteins
- Other types
- End-use Outlook (Revenue, USD Billion; 2019–2032)
- Food & Beverages
- Pharmaceutical
- Personal Care
- Others
- Application Outlook (Revenue, USD Billion; 2019–2032)
- Bakery Products
- Confectioneries & Gums
- Spreads
- Beverages
- Dairy Products
- Frozen Desserts
- Tabletop Sweeteners
- Pharmaceutical Products
- Other
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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