The US$ 121 Bn global sweeteners market is projected to grow moderately at 3.2% CAGR through 2027. Consumer awareness about the potential health impact of sweeteners is driving the shift toward sugar-free products.
Sucrose remains the preferred product type, accounting for nearly 66% revenue share of the market currently. In terms of revenues, the global sucrose market is estimated to be worth US$ 26.83 Bn. However, the after-taste of sucrose alternative products is impeding demand globally.
Natural sweeteners, the second-largest product type, currently holds a market share of nearly 22% globally. This segment is anticipated to gain market share during the for forecast period.
The key trends in the global sweeteners include increasing investments by companies and geographical expansion by key players. Further, due to the limited number of buyers and sellers in the market, most companies are focusing on cost optimization.
Food and beverages sector is the largest application segment in the global sweetener market. This segment currently accounts for nearly 70% revenue share. The food and beverage sector will continue to be the largest application segment throughout the forecast period. In terms of revenues, this will represent a market valuation of over US$ 115 Bn in 2027. During the forecast period 2017-2027, demand for food and beverage segment will grow at a CAGR of 3.2%.
In the food and beverage sector, dairy products and beverages are the two largest sub-segments. These two sub-segments collectively account for a revenue share of 40%.
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North America Sweeteners Market
As is the case globally, sucrose remains the largest product type in North America as well. Sucrose currently accounts for nearly 55% revenue share of the North America sweeteners market currently. Use of sucrose in the food and beverage sector will continue to boost its demand in the North America sweetener market. In North America, the food and beverage segment accounts for over 71% revenue share of the region; this segment will continue to remain prominent during the forecast period.
APEJ Sweeteners Market
Increasing awareness among the middle class in China and India, is a key factor for the rising demand for sweeteners in Asia Pacific excluding Japan (APEJ). The APEJ sweeteners market is projected to grow at a steady rate, opening new avenues of growth for manufacturers. Considering the sheer volume and scale of demand in APEJ, many manufacturers are working on consolidating their position in this market.
Key companies profiled in the report include Carl Kühne KG (GmbH & Co.), Castelo Alimentos S/A, Aspall Cyder Ltd, White house foods, Spectrum Organic Products, LLC, Higher Nature Limited., Vitane Pharmaceuticals, Inc., the kraft heinz company, Bragg Live Food Products, Inc., Swanson Health Products, Inc., Solana Gold Organics, Amfac, Inc.(American Garden), Mautner Markhof Feinkost GmbH, GNC holdings inc, Eden Foods, Inc., Pompeian, Inc., NutraMarks, Inc., Eden Nuganics, Viva Naturals, Health Connection Wholefoods.
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Key Questions Answered by the Report
- What is the size of the sweetener market?
The sweetener market is expected to reach a US$ 14 billion value by 2027. The growth rate for the sweetener market is estimated at 3.2% CAGR between 2017 and 2027.
- Which is the largest market for sweetener?
North America remains the dominant market for sweeteners. Growing food and beverage processing and export activities in the region are the primary influencers in the region.
- Which are the top companies in sweetener market?
PureCircle, Cargill Inc., Ingredion Inc., Tate & Lyle, Stevia First Corp. are among the leading market players in the global sweeteners market.
- What are the uses of sweetener?
Sweeteners are finding increased use in the food and beverage processing and pharma sectors. The market is also gaining traction through direct consumer sales for home consumption applications.
- In which forms are sweetener available?
Manufacturers produce sweeteners in five variants – novel, natural, sugar alcohol, sucrose, and artificial sweeteners. The demand for novel and artificial sweeteners is higher, supported by government health regulations on food and beverage formulations.
- What is the outlook on North America sweetener market?
North America is reflecting fast growth on the back of company investments towards patented extraction processes and strict regulations from agencies like the FDA.
- What is the present and future market potential for low-calorie sweeteners in the near future?
The strict norms on the use of artificial sweeteners as an ingredient is a key factor challenging growth, owing to potential health side effects. While novel sweeteners such as stevia are gaining in production adoption has been slow. Aftertaste issues, and lack of awareness about low-calorie sweeteners hinder adoption.