The global sweetener market is anticipated to expand at a CAGR of 3.8% during the anticipated period, according to data from Future Market Insights. According to projections, the sweetener market share will grow from US$ 108.6 billion in 2022 to US$ 157.7 billion by 2032.
Sucrose continues to be the most popular product category, with a current revenue share of around 66% of the market. The global sucrose market is thought to be valued US$26.83 billion in terms of revenues. The aftertaste of sugar alternatives, however, is reducing demand across the board.
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Natural sweeteners, the second-largest product type, currently holds a market share of nearly 22% globally. This segment is anticipated to gain market share during the for forecast period.
The key trends in the global sweeteners include increasing investments by companies and geographical expansion by key players. Further, due to the limited number of buyers and sellers in the market, most companies are focusing on cost optimization.
Food and beverages sector is the largest application segment in the global sweetener market. This segment currently accounts for nearly 70% revenue share. The food and beverage sector will continue to be the largest application segment throughout the forecast period. In terms of revenues, this will represent a market valuation of over US$ 115 Bn in 2032. During the forecast period 2022-2032, 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%.
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.
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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Sweetener Market: Segmentation
By Sweetener Type :
- novel sweeteners
- natural sweeteners
- sugar alcohol
- sucrose
- artificial sweeteners
By Industry :
- food & beverage (sweet spreads, bakery goods, beverages, dairy products, confectionery & chewing gums and others)
- direct sales
- pharmaceuticals
- others.
By Region :
- Eastern Europe
- Japan
- Middle-East & Africa (MEA)
- Latin America
- Asia-Pacific excluding Japan (APEJ)
- Western Europe
- North America
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