Global Sweeteners Market Worth USD 88.32 Billion With a CAGR of 3.02%

Introduction

Natural sweeteners are as sweet as or sweeter than sugar. It's a low-calorie sugar replacement. Low-calorie sweeteners are used worldwide. Sauces, baked goods, sweets, jellies, tinned goods, ice cream, and yoghurt include sweeteners. It's used in sugar-free products. No-calorie sweeteners are healthier than sugar. Diet sweeteners have a huge market.

Organic sweetener production has soared in recent years. Companies are adding organic honey, sugar, stevia, and more to the sweetener market's product portfolio. This lowers blood sugar. According to study, stevia has minimal carbohydrate content and high digestive tolerance. If health advantages and sugar taste could be combined, the sweetener sector may boom.

Market Dynamics

Global Sweeteners Market: DRIVERS

• Natural And Healthier Foods Will Grow the Market

Keeping up with customer tastes is difficult. Better-for-you options are transforming the food sector. People are becoming more health-conscious, which has led to more food-related advances in recent years. As people seek healthier options, new food products like sweeteners are popular. As sweetener use rises internationally, more artificial and natural sweeteners will be introduced to the market.

Healthy lifestyle changes and increased research are projected to grow the sweeteners industry. Sweeteners are growing more popular as customers learn more about their functions, food quality, ingredient sourcing, and other factors. Growing desire for natural foods is causing Europe and North America to manufacture plant-based sweeteners, which will boost the global sweeteners industry.

• Health-Conscious Consumers Will Boost the Sweeteners Market

Tastes and preferences influence the food and beverage sector. Technology, food production innovations, and food expertise have all increased demand for new food ingredients, especially sweeteners. As a result, natural sweetener demand should rise. Natural sweeteners are gaining market share over artificial sweeteners due to rising demand for natural foods. Consumers want no-added-sugar, free-form sugar, and low-sugar sweeteners. In the current sweeteners business, corporations are investing more in innovative FDA-compliant sweeteners. Also (FDA).

Global Sweeteners Market: KEY FUTURE OPPORTUNITIES

• New Product Launches and Technological Advances Offer New Opportunities

In recent years, natural, plant-based sweeteners have gained popularity. Several firms are introducing novel sweeteners using enzyme technology. Other companies may utilize enzyme engineering to boost sweetener production. Biotech company e-Lecta aims to work with regional sweetener companies to enhance zero-calorie plant-based sweetener production. The company uses its enzyme engineering skills to generate large amounts of plant-based sweeteners to suit beverage companies' needs.

Incumbent market companies may launch novel plant-based sweeteners to gain an edge. Many firms will expand their product lines to target health-conscious consumers. The company introduced the new product due to increased demand for sugar-free and sugar-reduced products. These will create fresh opportunities in the forecast.

Regional Overview of Global Sweeteners Market

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa make up the Global Sweeteners Market.

Asia Pacific generated over 40% of the market in 2021, making it the largest contributor. China, India, Indonesia, and Bangladesh have large food-consuming populations; therefore, they will drive regional demand. During the prediction period, this region is expected to grow rapidly. Population growth and rising incomes are to blame. FAO expects that Asia Pacific will use 40% of the world's sugar in 2020.

Europe's CAGR between 2022 and 2030 is expected to be 3.31 percent. The rising demand for sweeteners in this region due to their health benefits and changing dietary habits is driving the market's growth. Food and beverage manufacturers in this region have seen the growing popularity of honey and artificial sweeteners. In response, they've launched a new product line using artificial and other sweeteners.

Key Highlights

• The Global Sweeteners Market was valued at USD 88.32 billion in 2021 and is predicted to reach at USD 115.44 billion by 2030, increasing at a CAGR of 3.02% from 2022 to 2030.
• By Product, the Global Sweeteners Market is segmented into Sugar, Honey, and Artificial Sweeteners. Sugar was the market category that brought in the most revenue in 2021.
• By Distribution Channel, the Global Sweeteners Market is segmented into Offline and Online. In 2021, the offline channel was responsible for more than 78 percent of the total revenue generated by the market.
• By Region or Geography, the Global Sweeteners Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2021, the Asia Pacific region accounted for the greatest proportion of the global market.

Competitive Players

1. Cargill, Incorporated
2. Dabur India Ltd.
3. Foodchem International Corporation
4. PureCircle
5. Roquette Frères
6. Capilano Honey Ltd.
7. Beeyond the Hive
8. ADM
9. Ingredion
10. Pyure Brands LLC.
11. CELANESE CORPORATION
12. Kerry Group PLC
13. Archer Daniels Midland Company
14. DuPont Nutrition & Health
15. Tate & Lyle plc

Recent Developments

• June 2022 - Natural food production and the consumption of animal-based goods are becoming increasingly popular among consumers. Adding plant-based feed additives to healthy animal feed has a very high development potential. Cargill, the world's top agribusiness, stated it has reached a binding deal to buy Delacon, the world's foremost expert in plant-based phytogenic additives, to help feed clients in this expanding market.
• June 2022 - T&L PLC (Tate & Lyle) announced on 9th June 2022 that it has completed the acquisition of Quantum Hi-Tech (Guangdong) Biological Co., Ltd (Quantum), one of China's leading prebiotic dietary fibre businesses situated in China. On March 31, 2022, it was announced that the signing of a conditional agreement for this transaction would take place.

Segmentation

1. By Product
   1. Sugar
   2. Honey
   3. Artificial Sweeteners
2. By Distribution Channel
   1. Offline
   2. Online