Chicago, Jan. 31, 2024 (GLOBE NEWSWIRE) -- Sweeteners are substances used to add a sweet taste to food and beverages. They can be natural or artificial and are commonly used as sugar substitutes for various reasons, such as reducing calorie intake, managing blood sugar levels, or catering to individuals with dietary restrictions. The global sweeteners market size is projected to reach USD 144.7 billion from USD 115.8 billion at a CAGR of 4.6% during the forecast period, 2023-2028, in terms of value.
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There are two main types of sweeteners:
Natural Sweeteners:
- Sugar: Derived from sugar cane or sugar beets, sucrose is the most common natural sweetener.
- Honey: A natural sweetener produced by bees.
- Maple Syrup: Made from the sap of certain maple trees.
- Agave Nectar: Extracted from the agave plant.
Artificial Sweeteners:
- Aspartame: Often used in diet sodas, aspartame is a low-calorie sweetener.
- Sucralose: A non-caloric sweetener commonly known as Splenda.
- Stevia: Derived from the leaves of the Stevia rebaudiana plant, it is a natural sweetener with zero calories.
- Saccharin: One of the oldest artificial sweeteners, saccharin is often used in low-calorie and sugar-free products.
- Acesulfame Potassium (Ace-K): Another artificial sweetener that is heat-stable, often used in baked goods.
Top Companies in Sweeteners Market
- Cargill, Incorporated (US)
- ADM (US)
- International Flavors & Fragrances Inc. (US)
- Ingredion Incorporated (US)
- Tate & Lyle (UK)
- Associated British Foods (UK)
- Südzucker AG (Germany)
- Ajinomoto Co., Inc. (Japan)
Uses and Applications of Sweeteners Market
Food and Beverage Industry:
- Beverages: Sweeteners are widely used in the production of soft drinks, fruit juices, energy drinks, and other beverages to enhance flavor without adding calories from sugar.
- Dairy Products: Sweeteners are used in the production of flavored yogurts, ice creams, and other dairy-based products.
- Baked Goods: In the baking industry, sweeteners are used to sweeten cakes, cookies, pastries, and other baked goods while reducing sugar content.
Health and Wellness Products:
- Low-Calorie Foods: Sweeteners play a crucial role in the production of low-calorie and sugar-free food products, catering to consumers looking to manage their weight or control sugar intake.
- Dietary Supplements: Some sweeteners are used in the formulation of dietary supplements and vitamin products to make them more palatable.
Pharmaceuticals:
- Medications: Sweeteners may be used in the pharmaceutical industry to improve the taste of certain medications, especially for pediatric and geriatric populations who may have difficulty swallowing pills.
Personal Care Products:
- Oral Care Products: Sweeteners are sometimes added to toothpaste and mouthwash to improve taste and encourage regular oral hygiene practices.
Animal Feed:
- Livestock Feed: Some sweeteners are used in animal feed to enhance the palatability of the feed for livestock.
Sweeteners Market Growth Insights:
Drivers: Increasing incidence of obesity and diabetes
The escalating global prevalence of obesity and diabetes is a key driver for the market. With approximately 2.3 billion individuals already affected by overweight and obesity, and projections indicating that 2.7 billion adults could face these health challenges by 2025, there's a growing demand for sweeteners as part of efforts to combat excessive sugar intake. As obesity rates continue to rise, sweeteners play a pivotal role in providing low-calorie and sugar-free alternatives, aligning with health-conscious consumer preferences.
The World Obesity Atlas 2022 predicts that one billion people, including a substantial proportion of women and men, will be living with obesity by 2030. This global health crisis is not confined to high-income countries but is increasingly prevalent in low- and middle-income nations where the impact on health systems is profound. As the incidence of obesity and diabetes doubles by 2030, the sweeteners market is positioned to grow substantially, meeting the demand for products that support healthier dietary choices and lifestyles amid this pressing public health concern.
Opportunities: Government regulations on sugar content
Increased awareness of the health risks associated with excessive sugar consumption has prompted governments worldwide to implement regulations aimed at reducing sugar levels in food and beverages. These regulations, which often include sugar taxes and labeling requirements, create a favorable environment for the market to thrive.
As businesses in the food and beverage industry seek to comply with these regulations and cater to health-conscious consumers, there is a growing demand for alternative sweeteners. Sugar reduction targets set by governments encourage the adoption of low-calorie and sugar-free sweeteners to meet health and regulatory standards. This, in turn, opens significant opportunities for sweeteners manufacturers and suppliers to provide innovative solutions that align with the evolving regulatory landscape and changing consumer preferences.
In essence, government regulations on sugar content act as a catalyst, driving the sweeteners market by creating a market demand for healthier alternatives and incentivizing the industry to explore and invest in innovative sweetening solutions.
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China is expected to account for the highest growth between 2023 and 2028
China has emerged as the fastest-growing country in the sweeteners market, driven by a dynamic and rapidly expanding sugar industry. The establishment of new refineries and the adoption of advanced technologies have propelled the sector's growth, transforming it into a highly integrated industry. With a significant increase in consumption, China has successfully met domestic requirements through a combination of domestic production and imports. Despite being a net importer of sugar, the country has strategically developed an alternative sweetener industry, positioning itself as a major producer and consumer of saccharin globally.
Sugarcane, constituting approximately 80 percent of sugar production, is primarily cultivated in the South and Southwest regions, notably Guangxi, Guangdong, and Yunnan provinces. Guangxi has become a leading supplying province. The overall growth in China's sweeteners market is underscored by the sugar industry's expansion, technological advancements, and strategic shifts in cultivation patterns, establishing the nation as a key player in the global sweeteners landscape.
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