Asia Pacific Food Sweetener Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia Pacific Food Sweetener Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Asia-Pacific Food Sweetener Market is growing at a very slow pace, registering a CAGR of 1.67% during the forecast period (2020-2025).

Key Highlights

• China is the largest bulk sweetener consuming country in the Asia-Pacific region, accounting for a major share of the bulk sweeteners market. Moreover, the country is the primary source of sugar substitutes.
• The remarkable growth in the Food and Beverage market is also driving the food sweetener market. There is a rising prevalence of diabetes, obesity, and cardiac diseases, due to the high consumption of sugar-based products. This, in turn, is augmenting the demand for sweeteners.
• With the changing regulatory environment and permission for using sweeteners in dairy products, biscuits, and confectionery, the artificial sweeteners segment is witnessing high growth.

Key Market TrendsRise in Applications of Sweeteners in Processed Foods

The quest to reduce calories has made food manufacturers look for sucrose replacement with a variety of substitutes. Presently, a majority of their product offerings are sweetened with bulk sweeteners or sugar substitutes. Sweeteners are now becoming a ubiquitous part of products, like ketchup, whole-wheat bread, salad dressing, yogurt, and even breakfast cereals. As the global obesity epidemic and its significant impact on health, consumers are looking for ways to curb their sugar intake and protect themselves from the negative health effects of weight gain. This has led the Asia-Pacific region to record the highest number of new product launches with low-calorie sweeteners such as Stevia which would provide subtle taste to the food. Manufacturers choose the low-calorie sweetener, either on its own or as a blend, based on taste considerations, stability, and cost.

Australia is the Fastest Growing Market

Australia Food Sweetener Market is growing at a comparatively higher growth rate. The market’s growth can be primarily attributed to increasing demand. This accounts for a 30% share in the various applications of sweeteners. The diet-soft drink sector is highly dominant in the sugar substitute market, with aspartame emerging as the leading sweetener. However, stringent regulations in the region are expected to hinder the growth of the market studied. The Australian sugar industry is focusing on developing alternatives for sugars, primarily to cater to the increasing demand for natural sweeteners. Furthermore, stevia is gaining immense popularity in the country with the increasing demand for natural and clean ingredients. Powder stevia holds the majority market share.

Competitive Landscape

Asia Pacific food sweeteners market is currently dominated by Cargill, Tate & Lyle PLC, Stevia First Corp, Ingredion, Pure circle, Sudzucker, AB Sugar. Rising disposable incomes have increased the consumer expenditure on healthy and nutritious foods, and in turn, is helping the sweetener market to progress exponentially.

Additional Benefits:

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

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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