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 global sweetener competitors are expanding their financial and geographic reach. Furthermore, because there aren’t many buyers and sellers, most organisations are focusing on cost-cutting strategies.
Sweeteners’ most prevalent application is in the food and beverage industry. This category accounts for roughly 70% of current revenue. The food and beverage industry will be the most important application segment during the course of the forecast. In terms of revenue, the market will be worth over US$ 157.7 billion by 2032. Demand for food and beverages is predicted to grow at a 3.8% CAGR between 2022 and 2032.
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 and around the world, sucrose remains the most popular product category. In terms of sales, sucrose presently accounts for roughly 55% of the North American market. Sucrose demand in the North American sweetener market will continue to rise due to its use in the food and beverage industries. The food and beverage sector accounts for more than 71% of North America’s revenue, and it will remain crucial during the predicted period.
Increasing middle-class awareness in China and India is a key element driving rising demand for sweeteners in Asia Pacific excluding Japan. The APEJ sweetener industry is expected to grow steadily, creating new opportunities for manufacturers. Given the sheer volume and scale of demand in APEJ, several firms are attempting to consolidate their position in the 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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