Global Food Sweeteners Market - 2023-2030

Global Food Sweeteners Market - 2023-2030

The Global Food Sweeteners Market reached US$ 87.5 billion in 2022 and is expected to reach US$ 109.9 billion by 2030 growing with a CAGR of 2.9% during the forecast period 2023-2030.

Food sweeteners, also known as sugar substitutes or artificial sweeteners, are ingredients used to provide sweetness to food and beverages while reducing or eliminating the need for sugar. They are widely used as alternatives to sugar due to various reasons such as calorie reduction, taste preferences, and health concerns. There are different types of food sweeteners available in the market, including artificial sweeteners, natural sweeteners, high-intensity sweeteners, low-calorie sweeteners, sugar substitutes, non-nutritive sweeteners, sugar alcohols, and specific sweeteners like stevia and aspartame.

Sweetener manufacturers are investing in research and development to create innovative sweetening solutions. This includes developing blends of sweeteners to enhance taste, reducing bitterness or aftertaste, and improving functionality in various food and beverage applications. The aim is to provide a wider range of options to meet specific taste preferences and improve the overall sensory experience.

Market Dynamics

Changing Consumer Preferences and Taste Preferences is Driving the Food Sweeteners Market

Increasing awareness of the health risks associated with excessive sugar consumption has led consumers to seek alternatives that offer sweetness with fewer calories. This shift in consumer preferences is driven by concerns about obesity, diabetes, and other diet-related health issues. As a result, there has been a growing demand for low-calorie sweeteners and sugar substitutes as consumers actively look for ways to reduce their sugar intake.

Consumers are increasingly seeking natural and clean-label products, which has influenced their choices in sweeteners. There is a growing preference for sweeteners derived from natural sources, such as stevia, monk fruit extract, or honey. This preference aligns with the desire for minimally processed ingredients and transparency in food and beverage products.

Growth of the Functional Food and Beverage Industry is Expected to Foster the Food Sweeteners Market

Functional foods and beverages are products that offer additional health benefits beyond basic nutrition, often targeting specific health concerns or promoting overall well-being. This sector has been witnessing significant growth as consumers increasingly prioritize their health and seek out products that offer functional advantages. According to the Global Stevia Institute's internal survey, approximately 60% of Americans prefer low-calorie sugar in their foods.

Functional food and beverage manufacturers are incorporating food sweeteners to reduce sugar content and calorie levels in their products. This enables them to create healthier options that align with consumer preferences for reduced sugar intake and weight management. Food sweeteners allow the formulation of functional products that are both nutritious and appealing to health-conscious consumers.

Limited Consumer Acceptance and Preference for Natural Alternatives are Holding Back the Food Sweeteners Market

Taste preferences and sensory experience play a crucial role in consumer acceptance of sweeteners. Natural sweeteners, such as stevia or monk fruit extract, can have distinct taste profiles that differ from sugar. Some consumers may perceive an aftertaste or a difference in sweetness intensity, which can impact their acceptance of natural alternatives. This can result in a preference for traditional sweeteners like sugar or artificial sweeteners that more closely mimic the taste of sugar.

Traditional sweeteners like sugar have been widely used for centuries and are deeply ingrained in culinary traditions and habits. Consumers may be more accustomed to the taste and functional properties of sugar, making it challenging for natural alternatives to gain widespread acceptance. Familiarity and habit can act as barriers to the adoption of natural sweeteners, despite their potential health benefits.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global food sweeteners market is segmented based on type, application, and region.

By Application, the Food & Beverages Segment is Estimated to have Significant Growth During the Forecast Period

The food and beverages segment is the largest consumer of sweeteners. As population growth, urbanization, and rising disposable incomes continue to drive the demand for processed and convenience foods, the need for sweeteners in this segment is expected to grow. Consumers' preference for sweetened food and beverages remains strong, and manufacturers are constantly innovating to meet their evolving tastes and preferences.

Sweeteners are used in a wide range of food and beverage applications, including bakery products, confectionery, beverages, dairy products, sauces, dressings, and more. This diverse range of applications ensures a steady demand for sweeteners from the food and beverages segment. Additionally, as the trend towards healthier and functional foods grows, the incorporation of sweeteners in various functional food and beverage products further fuels the demand.

Geographical Analysis

North America is the Fastest Growing Market in the Food Sweeteners Market

North America has emerged as the epitome of dynamism in the food sweeteners market, captivating attention with its unparalleled growth trajectory. In 2020, 14.7 million metric tons of sweetener ingredients were consumed in the U.S., which is projected to grow 4.6% this year, reaching 15.4 million metric tons in 2021. With each passing year, the region's voracious demand for saccharine delights shows no signs of abating, setting new records for sweetness saturation.

The prevalence of health conditions such as obesity and diabetes has been steadily increasing in North America. These conditions often require individuals to reduce their sugar intake, leading to a greater demand for sugar substitutes or low-calorie sweeteners. Regulatory bodies in North America, such as the Food and Drug Administration (FDA), have approved and recognized certain artificial sweeteners as safe for consumption. This approval provides a level of assurance to both manufacturers and consumers, encouraging the use of food sweeteners in various products.

Competitive Landscape

The major global players in the market include Cargill Inc, Kerry Group, Corbion Purac, Stevia First Corporation, Hermes Sweeteners Ltd, Tate & Lyle Plc, Archer Daniels Midland (ADM), Celanese Corporation, Ingredion, and Danisco.

Why Purchase the Report?
• To visualize the global food sweeteners market segmentation based on type, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of food sweeteners market-level with all segments.
• The PDF report consists of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The global Food Sweeteners market report would provide approximately 53 tables, 49 figures and 190 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies