In 2022, the Sweetener Market is expected to be worth US$109.4 billion. The sector is expected to be worth US$113.77 billion by the end of 2023. During the projection period, the sweetener industry is predicted to grow at a 3.7% CAGR and reach US$ 164.41 billion by 2033.
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Natural sweeteners, the second-largest product category, have a global market share of about 22%. During the projection period, this category is expected to increase market share.
The main multinational sweetener competitors’ financial and geographical footprints are expanding. Furthermore, because there aren’t many buyers and sellers, most companies are focusing on cost-cutting initiatives.
Sweeteners are most commonly used in the food and beverage industry. This category accounts for over 70% of current revenue. During the forecast period, the food and beverage industry will be the most important application category. The market will be worth roughly US$ 157.7 billion in 2032 in terms of revenue. Between 2022 and 2032, demand for food and beverages is predicted to grow at a CAGR of 3.8%.
Dairy goods and drinks are the two biggest sub-segments in the food and beverage industry. Together, these two sub-segments represent 40% of total revenue.
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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