Sweeteners Market Size, Share & Trend Analysis Report By Product (Sugar, Honey, Artificial Sweeteners), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2022 - 2028

Sweeteners Market Size, Share & Trend Analysis Report By Product (Sugar, Honey, Artificial Sweeteners), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2022 - 2028

Sweeteners Market Growth & Trends

The global sweeteners market size is expected to reach USD 108.72 billion by 2028, registering a CAGR of 2.9% during the

forecast period, according to a new report by Grand View Research, Inc. The increasing food and beverage industry across the

globe and the rising application of sweeteners in various sectors, especially in the food industry in developed and

developing nations are expected to promote market growth. Moreover, the technological development and advancement in

sweetener manufacturing by various manufacturers across the globe are accelerating market growth in emerging economies.

Moreover, a lockdown situation has been observed during the COVID-19 pandemic, and it has not widely affected the sweeteners

industry as compared to the other industries. The increasing demand for honey and artificial sweeteners across the globe is

propelling market growth. The rising demand for food and bakery products after the COVID-19 pandemic will create

opportunities for the market players.

The honey segment is expected to grow with the fastest growth rate of 3.4% from 2022 to 2028. The increasing demand for

nutritious, and healthy food is propelling the growth of this segment over the last few years. Honey is an excellent source

of numerous nutrition that include minerals, calcium, vitamins, and antioxidants made available for consumers through retail

channels which in turn is driving the growth of the market.

The online segment of the market is anticipated to register the fastest growth with a CAGR of 3.4% from 2022 to 2028. The

internet penetration rate has witnessed lucrative growth in recent years which has led to the significant growth of the e-

commerce sector across the globe, which is propelling the growth of this segment. Several suppliers of these products are

offering products on their websites as well as on the e-commerce platforms and have projected market growth during the

forecast period.

The Asia Pacific has dominated the market with a revenue share of more than 35% in 2021. China, India, Indonesia, and

Bangladesh have a huge consumer base for the consumption of food products, which will drive the regional demand. According to

the Food and Agriculture Organization (FAO), about 40% of the world’s sugar consumed in the Asia Pacific in 2020. In addition

to this, factors such as increasing per capita consumption, disposal income, and rapid urbanization are contributing to the

growth of this market.

Sweeteners Market Report Highlights

• Asia Pacific is expected to register the largest market share of more than 35% in 2021 owing to the huge consumer

base in this region.

• Honey segment is expected to foresee the fastest growth, with a CAGR of 3.4% from 2022 to 2028 due to the rising

popularity of nutritious, and healthy food products.

• Offline channel held the largest market share in 2021 and contributed more than 80% of the total revenue due to easy

access to various sweeteners products.

• Europe is expected to register the fastest growth of 3.2% CAGR from 2022 to 2028 due to the growing demand for

sweeteners.Please note The report will be delivered in 2-3 business days upon order notification.