Up until 2032, the worldwide sweeteners market is expected to expand gradually at a CAGR of 3.8%. The shift toward sugar-free products is being driven by consumer knowledge of the potential health effects of sweeteners.
Sucrose continues to be the most popular product category, accounting for over 66% of the market’s current revenue. In terms of revenue, the global sucrose market is estimated to be worth US$26.83 billion. However, the taste of sugar substitutes is generally lowering demand.
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Natural sweeteners, the second-largest product type, currently holds a market share of nearly 22% globally. This segment is anticipated to gain market share during the for forecast period.
Leading rivals in the global sweeteners market are increasing their investments and geographic reach. Furthermore, since there aren’t many buyers and sellers, most companies are focusing on cost optimisation.
Food and beverages sector is the largest application segment in the global sweetener market. This segment currently accounts for nearly 70% revenue share. The food and beverage sector will continue to be the largest application segment throughout the forecast period. In terms of revenues, this will represent a market valuation of over US$ 157.7 Bn in 2032. During the forecast period 2022-2032, demand for food and beverage segment will grow at a CAGR of 3.8%.
In the food and beverage sector, dairy products and beverages are the two largest sub-segments. These two sub-segments collectively account for a revenue share of 40%.
North America Sweeteners Market
In North America as well as the rest of the world, sucrose continues to be the most popular product category. In terms of sales, sucrose now holds a nearly 55% market share in North America. The demand for sucrose in the North American sweetener market will continue to rise as it is used in the food and beverage industry. Over 71% of North America’s revenue comes from the food and beverage sector, which will continue to be important during the projected period.
Increasing awareness among the middle class in China and India, is a key factor for the rising demand for sweeteners in Asia Pacific excluding Japan (APEJ). The APEJ sweeteners market is projected to grow at a steady rate, opening new avenues of growth for manufacturers. Considering the sheer volume and scale of demand in APEJ, many manufacturers are working on consolidating their position in this market.
Key companies profiled in the report include Carl Kühne KG (GmbH & Co.), Castelo Alimentos S/A, Aspall Cyder Ltd, White house foods, Spectrum Organic Products, LLC, Higher Nature Limited., Vitane Pharmaceuticals, Inc., the kraft heinz company, Bragg Live Food Products, Inc., Swanson Health Products, Inc., Solana Gold Organics, Amfac, Inc.(American Garden), Mautner Markhof Feinkost GmbH, GNC holdings inc, Eden Foods, Inc., Pompeian, Inc., NutraMarks, Inc., Eden Nuganics, Viva Naturals, Health Connection Wholefoods.
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Sweetener Market: Segmentation
By Sweetener Type :
- novel sweeteners
- natural sweeteners
- sugar alcohol
- sucrose
- artificial sweeteners
By Industry :
- food & beverage (sweet spreads, bakery goods, beverages, dairy products, confectionery & chewing gums and others)
- direct sales
- pharmaceuticals
- others.
By Region :
- Eastern Europe
- Japan
- Middle-East & Africa (MEA)
- Latin America
- Asia-Pacific excluding Japan (APEJ)
- Western Europe
- North America
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