DUBLIN, Feb. 23, 2024 /PRNewswire/ — The “Global Sweeteners Market by Type (High-intensity & Low-intensity sweeteners), Product (Sucrose, High-fructose corn syrup, Natural sweeteners, Polyols, Artificial & Novel sweeteners), Form, Application, Sales Channel and Region – Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The sweeteners market is projected to grow to USD 144.7 billion in 2028 from USD 115.8 billion in 2023 at a CAGR of 4.6% during the forecast period 2023 – 2028. The sweeteners market is experiencing robust growth due to the expanded application of both table sugar and sugar substitutes in the food and beverage industry. Health-conscious consumer trends and increasing concerns about the impact of excessive sugar consumption on health have led to a surge in demand for sugar alternatives. As a result, various sugar substitutes such as stevia, erythritol, and monk fruit are gaining popularity, providing sweetness with fewer or no calories. Food and beverage manufacturers are incorporating these substitutes to meet the rising demand for reduced-calorie and sugar-free products. Simultaneously, traditional table sugar continues to find extensive use, especially in the baking and confectionery sectors. The versatility of sugar, along with its role in enhancing flavor and texture, ensures its continued relevance. This dual trend – increased utilization of both traditional sugar and sugar substitutes – drives the overall growth of the sweeteners market, offering consumers a diverse range of options while addressing health and taste preferences in the evolving food and beverage landscape.
Sucrose is expected to be one of the largest sub-segments in the market
Sucrose is poised to maintain the largest share in the sweeteners market for several compelling reasons. As a natural disaccharide commonly known as table sugar, sucrose possesses widespread consumer acceptance and is a staple in various food and beverage applications. Its versatility extends from enhancing taste profiles to providing texture and color in a myriad of products. The inherent sweetness and familiarity associated with sucrose make it a preferred choice among consumers, and its application extends across a broad spectrum of industries, including baking, confectionery, and beverages.
Moreover, sucrose’s functionality in preserving and enhancing the overall sensory experience of food products contributes to its enduring market dominance. While alternative sweeteners are gaining popularity, sucrose continues to be a key ingredient in numerous formulations. The enduring demand for sucrose, coupled with its irreplaceable role in culinary applications, positions it as a frontrunner in capturing and maintaining the largest share in the dynamic and evolving sweeteners market.
US is projected to have the largest share during the forecast period
US is anticipated to command the largest share in the sweeteners market, reflecting the pressing need for alternatives in a landscape where American adults and young individuals consistently exceed recommended daily added sugar intake. With adults consuming 2 – 3 times the recommended amount and children averaging 16 teaspoons daily (according to The American Heart Association), there is a heightened demand for low-calorie and sugar-free options. This surge in awareness regarding the health risks associated with high sugar consumption, particularly in beverages where 47% of added sugars are found, propels the growth of the sweeteners market. As consumers seek healthier choices and the food and beverage industry adapts to evolving preferences, the demand for sweeteners, including sugar substitutes, is on the rise. U.S. market’s expansive size and responsiveness to health-conscious trends is driving the substantial share of the sweeteners market.
The report provides insights on the following:
- Analysis of key drivers (Increasing incidence of obesity and diabetes), restraints (Ambiguity in the minds of consumers associated with natural sweeteners consumption), opportunities (Government regulations on sugar content), and challenges (Product labeling and claim issues) influencing the growth of the sweeteners market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the sweeteners market.
- Market Development: Comprehensive information about lucrative markets – the report analyses the sweeteners market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the sweeteners market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Cargill, Incorporated (US), ADM (US), International Flavors & Fragrances Inc. (US), Ingredion Incorporated (US), Tate & Lyle (UK), Associated British Foods (UK), Sudzucker AG (Germany), and Ajinomoto Co., Inc. (Japan) in the sweeteners market strategies. The report also helps stakeholders understand the sweeteners market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Key Topics Covered:
Premium Insights
- Attractive Opportunities for Players in Sweeteners Market – Increased Demand Driven by Consumer Preference for Healthier Options and Ongoing Innovations in Formulations to Drive Market
- Sweeteners Market: Major Regional Submarkets – US and India to be Lucrative Markets in 2023
- Asia-Pacific: Sweeteners Market, by Key Country and Product – Sucrose Segment and India to Account for Significant Share in 2022
- Sweeteners Market, by Product – Sucrose Segment to Dominate Market During Forecast Period
- Sweeteners Market, by Type – High-Intensity Sweeteners Segment to Dominate Market During Forecast Period
- Sweeteners Market, by Form – Powder Segment to Dominate Market During Forecast Period
- Sweeteners Market, by Sales Channel – Direct (B2B) Segment to Dominate Market During Forecast Period
- Sweeteners Market, by Application – Beverages Segment to Dominate Market During Forecast Period
Market Dynamics
Drivers
- Growing Awareness Regarding Health Issues Related to High Sugar Consumption
- Rise in Consumer Inclination Toward Natural Products
- Partnerships Established Between Sweetener Manufacturers and Food & Beverage Entities
- Advances in Technology Leading to Development of New and Improved Sweeteners
- Reduced Ingredient Costs Through HFCS Usage
Restraints
- Consumer Confusion Around Usage of Natural Sweeteners and Their Potential Health Risks
- Health Issues Linked to Excessive Consumption of High-Fructose Corn Syrup
- Stringent International Quality Standards and Regulations for Sweeteners and Sweetener-based Products
Opportunities
- Advancements in Natural Sweeteners Gaining Significant Traction, Especially in Food & Beverage Industry
- Research and Development Around Diabetic-Friendly Sweeteners
Challenges
- Product Labeling and Claims Issues
- Balancing Production Costs and Pricing of Sweeteners to Meet Consumer Expectations
Key Trends
- Natural and Clean-Label Flavors
- Comfort Food Flavors
- Global Taste Expansions
- Impact of Flavor Modulations on Sweeteners Market
- Increased Demand for Natural Sweeteners
- Innovation in Non-Caloric Sweeteners
Companies Profiled
- Cargill, Incorporated
- Adm
- International Flavors & Fragrances Inc.
- Ingredion Incorporated
- Tate & Lyle
- Associated British Foods PLC
- Givaudan
- Firmenich SA
- Symrise
- Sudzucker AG
- Ajinomoto Co. Inc.
- Zydus Wellness
- Tereos
- Roquette Freres
- Macandrews & Forbes Holdings Incorporated
- Foodchem International Corporation
- Jk Sucralose Inc.
- Zuchem
- Mane SA
- Dohler GmbH
- Ecogreen Oleochemicals
- Suminter India Organics
- Tag Ingredients India Pvt. Ltd.
- The Real Stevia Company Ab
- Sweetly Steviausa
- Stevia Hub India
- Pyure Brands
- Xilinat
- Fooditive Group
- Sagana
For more information about this report visit https://www.researchandmarkets.com/r/bn6os0
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