The global botanical sugar market is set to be valued at US$ 108.5 million in 2023. It is poised to witness impressive growth in the foreseeable future. The market is anticipated to expand at a CAGR of 8.5% during the projection period, reaching a value of US$ 245.3 million by 2033.
Expanding well-being cognizance among customers, combined with the rising interest in regular and better sugar choices, has spurred development. Botanical sugar obtained from sources such as coconut, stevia, maple, and honey is acquiring ubiquity as they are seen as additional healthy options in contrast to refined sugar.
The developing attention to the unsafe impacts of excessive sugar utilization, including corpulence, diabetes, and other ailments, would drive the business. Shoppers are effectively looking for better options that can give pleasantness without undermining their prosperity. Plant sugar offers an answer by providing regular pleasantness, lower glycemic index values, fewer calories, and no counterfeit added substances.
The clean label trend adds to the development, as customers progressively focus on straightforwardness and regular fixings. Herbal sugar lines up with this pattern, as they are obtained from plants and are liberated from fake added substances, making them appealing to health-conscious individuals.
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The adaptability of botanical sugar in different food and refreshment applications is also driving their interest. They can be used as sugar in several items, including refreshments, heated merchandise, ice cream parlor, and dairy items, adding extraordinary flavors and improving taste profiles.
The business is additionally seeing development owing to the reception of organic sugar by food and refreshment makers trying to take care of changing customer inclinations and separate their items. By consolidating organic sugar, organizations can fulfill the need for standard and better other options, drawing in well-being customers and acquiring an upper hand on the lookout.
The global ecosystem for botanical sugar topographically extends across regions, with North America, Europe, Asia Pacific, and different districts seeing colossal development. The rising accessibility of botanical sugar through other dispersion channels, including grocery stores, online stages, and specialty stores, further drives business development.
Key Takeaways from the Botanical Sugar Market Report-
- The global botanical sugar market is expected to reach a valuation of US$ 245.3 million with a CAGR of 8.5% by 2033.
- The United States is projected to have the utmost valuation of US$ 23.5 million by 2023 in botanical sugar globally.
- The botanical sugar business in China is expected to reach a valuation of US$ 16.0 million by 2033.
- India is estimated to showcase a CAGR of 11.6% during the prediction period.
- The United Kingdom is expected to showcase a CAGR of 6.3% in the botanical sugar market through 2033.
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Competitive Landscape
Terre Botanicals, the nature network, BOTANICAL COLORS, Monk Fruit Corp, Pyure Brands, Layn Natural Ingredients, Roquette Freres, Ingredion Incorporated, ADM, Tale & Lyle, Cargill Incorporated, Louis Dreyfus Company B.V., DO-IT Food Ingredients B.V., Global Organics, Ltd., B.T. Sweets and others are the leading players in the botanical sugar market.
Acquisitions and mergers are beneficial for companies in terms of improving their product quality and expanding their reach. Combining resources, expertise, and customer base can lead to access to new technology, distribution channels, manufacturing facilities, and talent.
Launching new products can also help businesses stay competitive and meet the changing consumer demands, allowing them to attract new customers and retain existing ones while increasing their share.
For instance,
- In 2021, B.T. Sweet, a food tech start-up, unveiled Cambya, a plant-based ‘botanical sugar’ substitute. The proprietary formula uses soluble fibers, monk fruit, and select botanicals. Cambya is claimed to be equal to sugar in the body and taste, providing a good source of naturally derived fibers without any lingering aftertaste.
- In 2022, Sweet Victory partnered with Givaudan to develop a flavorful botanical-infused chewing gum to help reduce sugar cravings in children.
Key Companies Profiled in the Botanical Sugar Market
- B.T. Sweets
- Terre Botanicals
- the nature network
- BOTANICAL COLORS
- Global Organics, Ltd.
- DO-IT Food Ingredients BV
- Louis Dreyfus Company B.V
- Cargill Incorporated
- Tale & Lyle
- ADM
- Ingredion Incorporated
- Roquette Freres
- Lakanto
- Layn Natural Ingredients
- Pyure Brands
- Monk Fruit Corp
Botanical Sugar Market Outlook by Category
By Product Type:
- Cane Sugar
- Coconut Sugar
- Date Sugar
- Maple Sugar
- Palm Sugar
- Stevia Sugar
- Agave Sugar
- Honey
- Monk Fruit
- Yacon Syrup
By Application:
- Food and Beverage Industry
- Confectionery
- Beverages
- Dairy Products
- Bakery
- Pharmaceutical Industry
- Personal Care and Cosmetics Industry
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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