Alternative Sweeteners Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Alternative Sweeteners Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Alternative Sweetener market is growing at a CAGR of 4.3 % during the forecast period (2020-2025).

Key Highlights

• The market is expected to grow owing to the increase in patients suffering from lifestyle diseases such as diabetes, obesity and cardiovascular diseases. Also, the inclination towards living a healthy lifestyle and rise in demand for low-calorie food products are other critical factors driving the growth of the global alternative sweetener market throughout the forecast period.
• The growth of beverage market in both developed and developing countries is also promoting the demand for alternative sweeteners.
• On the other hand, high costs and side effects caused by the alternative sweetener may hinder the market growth.

Key Market TrendsRising Number of Consumers Affected by Diabetes and Obesity

According to the International Diabetes Federation, the number of diabetics worldwide in 2019 is 463 million. This number is expected to reach 700 million by the year 2045. With an increased number of diabetics, the prevalence of diabetes is also projected to increase to just under 10 percent by 2045. Increase in obesity levels, along with concern regarding the risk of developing cardiovascular disease and diabetes are encouraging consumers to make more healthy choices. Consumers suffering from diabetes and obesity go for the low-calorie sweeteners as these products have less or no calories and therefore are helpful in controlling weight and maintaining blood sugar levels. Development of low sugar food for diabetic and diet-conscious consumers and high demand for diet beverages has projected to drive the market.

North America having the Largest Market Share

The demand for natural sweeteners in North America is mainly due to the trend of healthy food. The growing awareness about the harmful effects of excessive sugar consumption is the major driving factor for market growth. Thus, more opportunities for low-calorie sweeteners are created especially in bakery, beverage and dairy applications. The beverages industry is dominating, followed by bakery, confectionery, and dairy industry. According to US Census Bureau, the preferred brands of alternative sweeteners are Splenda, Sweet’N Low, Stevia in the Raw and Equal.

Competitive Landscape

The global market for sugar substitutes is driven by a large number of active players. The most preferred growth strategies include new product development, mergers, acquisitions, expansion, and partnerships to boost the market growth. There are numerous prominent players in this industry, such as Cargill Inc., Heartland Food Products Group, DuPont de Nemours, Inc., and Ingredion Inc., among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Cargill, Incorporated
Archer Daniels Midland Company
Heartland Food Products Group
DuPont de Nemours, Inc.
Ajinomoto Co., Inc
PureCircle Ltd.
Roquette Freres
Stevia First Corporation
Ingredion Inc.
Kawarlal & Co.Inc.

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