USD 80.91 billion
Sweeteners Market Size, Share, Growth Analysis, By Application(Bakery & Confectionary, Beverages, Dairy & Frozen product, Pharmaceuticals and others), By Form Outlook(Solid and Liquid), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2181 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
62
|Figures:
75
Sweeteners Market Insights
Global Sweeteners Market size was valued at USD 80.91 billion in 2022 and is poised to grow from USD 82.85 billion in 2023 to USD 100.16 billion by 2031, growing at a CAGR of 2.40% during the forecast period (2024-2031).
Sweeteners are utilized in baked food items for their sweet flavor and bulking, structuring, browning, aerating, supplying energy, maintaining moisture, shelf life, and aesthetic appeal properties. A growing health consciousness among consumers to promote healthier and more nutrient-dense food around the world can be attributed to the growth of honey and artificial sweeteners. Additionally, the growing preference for natural products is accelerating the market's expansion. The USDA analysis claims that the trend towards alternative sweeteners, natural goods, and plant-based products caused a plateau in sugar consumption in 2021. In addition, a survey by New Nutrition Business claims that in 2021, two-thirds of the people in Europe said they were attempting to consume less sugar. As people got more committed to their health goals, their consumption of white crystals declined. One of the main drivers for the food processing sector is anticipated to be an increase in convenience food consumption and a fast-paced lifestyle. The demand for sweeteners in the US is also anticipated to rise due to the rising use of soft drinks, particularly carbonated soft drinks.
US Sweeteners Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Solid
Fastest Growth
Solid
Growth Rate
2.40% CAGR
Global Sweeteners Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
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Sweeteners Market Segmental Analysis
Global Sweeteners Market is segmented on the basis of Application, Type Outlook, Form outlook and region. By Application, the Sweeteners Market is segmented into Bakery & Confectionary, Beverages, Dairy & Frozen product, Pharmaceuticals and others. By Type Outlook, Sweeteners Market is segmented into Sucrose, High fructose corn syrup, sugar alcohols, High intensity sweeteners, Tagatose and Others. By Form Outlook, the Sweeteners Market is divided into Solid and Liquid. By region, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Sweeteners Market Analysis by Application
In 2022, the bakery and confectionery industries dominated the global market. Most bakery and confectionery food products employ sweeteners as a sweetening agents. Moreover, they are among the crucial ingredients used in baked goods. Yeast-based and chemically leavened baked goods, such cakes and cookies, use a lot of sweeteners. In addition, they serve as texturizers, humectants, bulking agents, colouring agents, and shelf-life extenders.
The pharmaceuticals sector is anticipated to grow at the quickest CAGR over the forecast period due to using sweeteners as active medicinal components or excipients for contemporary formulations, such as consumer-friendly lozenges or chewable tablets and gummies. As they have a sweet flavour and are gentle on the teeth, sweeteners including polyol sweeteners and high-intensity sweeteners are frequently used. They are also incorporated into the formulations of traditional pills and powdered medications.
Sweeteners Market Analysis by Form Outlook
The solid form dominated the global market in 2021. The majority of sweeteners are available in solid, crystalline, or powdered form because they are practical and have a number of advantages over liquid sweeteners, including ease of transportation, packaging, stability, and wide range of applications. However, the solid form dominates the global market. Coating and bulking agents are often used in the food and beverage industry for confectionery, bakery, and other food and beverage applications.
The liquid sweeteners segment is anticipated to grow at the fastest CAGR during the forecast period. For use in a variety of applications, including food and beverage, pharmaceuticals, and personal care and cosmetics, the liquid form of sweeteners offers greater solubility and flexibility. Drinks, chewing gum, mouthwash, cosmetic gels, pharmaceutical medicines, and other items are frequently produced using liquid sweeteners.
Global Sweeteners Market Size By Form Outlook 2022 (%)
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Sweeteners Market Regional Insights
Asia Pacific dominated the global market. Due to the presence of some of the fastest-growing economies, like China and India, the region has significant growth potential for the food and beverage sector. Western diets have significantly impacted the younger population in the region. Increased imports of these sweeteners are anticipated as a result of the demand for high-end beverages and confectionary items.
The North America market is expected to grow at the fastest CAGR. Due to consumers' rising health consciousness, a number of regional players now offer low-calorie food and beverages. The market in North America is expanding as a result of rising awareness of sugar substitutes that have few or no calories. The demand for natural sweeteners in the region is anticipated to increase due to a shift in consumer preferences towards natural and organic products and a reduction in packaged and highly processed foods.
Global Sweeteners Market Size By Geography, 2022-2030
- Largest
- Fastest
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Sweeteners Market Dynamics
Sweeteners Market Drivers
Growing awareness of the health risks associated with high sugar consumption
- As people become more conscious of the negative impact of sugar on their health, they are seeking out low-calorie and sugar-free alternatives, which has increased demand for sweeteners. manufacturers are introducing new and innovative sweeteners to the market, such as stevia, monk fruit extract, and erythritol. Research has shown that high sugar consumption is linked to a range of health problems, including obesity, type 2 diabetes, heart disease, and other chronic conditions. This has led to an increasing number of consumers looking for alternatives to traditional sugar, which has driven growth in the sweeteners market.
Increasing consumer interest in natural and organic products
- Consumers are becoming more aware of the potential health benefits of natural products and are looking for alternatives to artificial sweeteners. Natural sweeteners like stevia, honey, and maple syrup are increasingly popular as consumers perceive them as healthier alternatives to artificial sweeteners. Some studies have suggested that artificial sweeteners may be associated with a range of health problems, including cancer, although research in this area is ongoing.
Sweeteners Market Restraints
Limited availability of raw materials
- The limited availability of raw materials is a key restraint on the global sweeteners market. Some natural sweeteners, such as stevia and monk fruit extract, require specific growing conditions and are only available in limited quantities. This can lead to supply constraints, which can drive up the price of these sweeteners and limit their availability.
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Sweeteners Market Competitive Landscape
In recent years, the demand for low-sugar food products has increased, and this, combined with the wide range of applications for sweeteners, has led to strong year-over-year growth for the world's manufacturers of sweeteners. Because there are so many competitors, the market is very fragmented. Players in the food and beverage, pharmaceutical, and personal care industries can benefit from solutions provided by leading market participants.
Sweeteners Market Top Player’s Company Profiles
- Cargill, Inc.
- Archer Daniels Midland Company
- Ingredion Incorporated
- Tate & Lyle PLC
- Roquette Frères
- Ajinomoto Co., Inc.
- Südzucker AG
- PureCircle Limited
- The NutraSweet Company
- DuPont de Nemours, Inc.
- Kerry Group plc
- Wilmar International Limited
- Stevia First Corporation
- Celanese Corporation
- Morita Kagaku Kogyo Co., Ltd.
- Hermes Sweeteners Ltd.
- Givaudan SA
- GLG Life Tech Corporation
- Mitsui Sugar Co., Ltd.
- Dulcette Technologies LLC
Sweeteners Market Recent Developments
- In February 2023, Tate & Lyle introduced a new brand as part of its ongoing restructuring.
- In November 2022, Cargill announced plans to expand its production capacity for erythritol, a low-calorie sweetener, at its facility in Krefeld, Germany.
- In June 2022, Tate & Lyle announced the launch of a new range of stevia-based sweeteners that are designed to provide a clean taste and improve the sweetness profile of food and beverage products.
Sweeteners Key Market Trends
- Rising Demand for Natural Sweeteners
The demand for natural sweeteners is increasing due to consumers' growing interest in natural and healthy products. Natural sweeteners like stevia, monk fruit extract, and allulose are gaining popularity as they are low in calories, have a low glycaemic index, and are considered safe for consumption.
Sweeteners Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global sweeteners market analysis, the market growth is driven by increasing awareness of the health risks associated with high sugar consumption. The market is also driven by increasing consumer interest in natural and organic products and the growing use of sweeteners in a range of food and beverage products. These include the limited availability of raw materials, health concerns associated with some sweeteners, and competition from alternative sugar substitutes. Despite these challenges, the sweeteners market is expected to continue to grow in the coming years. The market is highly competitive, with a range of players offering a variety of sweetener products. Manufacturers are investing in research and development to create new sweetener products and improve the quality and taste of existing products.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 80.91 billion |
| Market size value in 2031 | USD 100.16 billion |
| Growth Rate | 2.40% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Sweeteners Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Sweeteners Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Sweeteners Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Sweeteners Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sweeteners Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Sweeteners Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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