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

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

North American food sweetener market is projected to grow at a CAGR of 1.22% during the forecast period.

Key Highlights

• The demand for natural sweeteners in North America is primarily due to the health food trend. The rising awareness regarding the harmful effects of excessive sugar consumption is augmenting the market’s growth.
• However, an increase in the awareness about the negative effects of sugar on consumer’s health is likely to hinder the market growth, providing more opportunities for low-calorie sweeteners, especially in beverage, and bakery and dairy products.
• The beverages category is most dominant, followed by bakery, confectionary, and dairy products. Based on type, Stevia and Xylitol are expected to witness high growth rates.

Key Market TrendsDemand for Low Calorie Sugar Substitutes

With the growing trends for clean label, low-calorie sweeteners (LCS) are used in various beverages and foods like frozen desserts, yogurt, candies, baked goods, chewing gum, breakfast cereals, gelatins, and puddings. Foods and beverages containing low-calorie sweeteners carry the label “sugar-free” or “diet.” U.S. Food and Drug Administration (USDA) has listed six LCS under Generally Recognized as Safe (GRAS). Brands such as Equal®, NutraSweet®, Sugar Twin®, Splenda®, are few of those brands that are categorized under GRAS.

Mexico Remains the Fastest Growing Market

Mexico is a high potential market for natural and artificial sweetener products. The country has a high proportion of the obese population. The Mexican government’s decision to increase the tax on sugary drinks by 10% highlights its serious intent in reducing sugar consumption. The purchasing power is expected to increase, along with the economy and the number of urban dwellings. In developing nations, the demand for artificial sweeteners is closely related to these factors. Thus, Mexico is expected to emerge as an attractive destination for sweetener products. In the country, over the review period, sugar consumption was adversely affected by strong campaigns from the government, primarily to spread awareness regarding he harmful effects of obesity.

Competitive Landscape

North America food sweeteners market is driven by a large number of prominent players. Currently, there are several active players in this industry, such as Cargill Inc., Tate & Lyle, Kerry Group, and Ingredion, among others. Acquisitions, new product launches, joint ventures, and expansion are the most preferred growth strategies.

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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