Growing Consumer Preference for Healthful Sugar Alternatives is Driving Sweeteners Market Forward: TMR Study

- Players have a keen focus on launching new products and on looking for new and healthier sources of sweeteners to claim higher market share

- Growing health awareness is a key factor driving the sweeteners market on an upward growth trajectory

- Market Valuation would reach ~USD 731 billion by 2030

News provided by

Transparency Market Research

Aug 13, 2020, 09:30 ET

ALBANY, N.Y., Aug. 13, 2020 /PRNewswire/ -- The global sweeteners market is set to grow at a compound annual growth rate (CAGR) of 4% from 2020 to 2030, pushing the market worth up to ~USD 731 billion by the end of this period. It is pertinent to note here that there is a growing demand for plant-based sweeteners and this is contributing to growth in the market.

As per Transparency Market Research, "Players are looking to enter untapped markets and for new and healthful sources of sweeteners. Players are also focusing on development of low-calorie sweeteners. Investment is being directed in this direction. Additionally, efforts are being directed towards process standardization and cost-optimization."

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Key Findings of Global Sweeteners Market Study:

In terms of value, food and beverage segment is set to account for key market share
Increase in demand for natural sweeteners will be witnessed over the forecast period
Asia Pacific (APAC) will be a prominent regional market

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Key Drivers of Growth in Global Sweeteners Market:

In the global sweeteners market, there is a growing demand for low calorie and plant-based sweeteners, creating new opportunities of growth for market players, as per Transparency Market Research. It is pertinent to note here that there are many trends and drivers that are not just marking the landscape but also pushing the market on an upward growth trajectory. An overview of these factors is provided below:

Demand for clean label products is being noted and is set to enable growth in the market
Urbanization and increase in disposable income are also playing a role in market growth
Growing health awareness is leading people towards natural and low calorie sweeteners
Increase in incidence of diabetes and dental caries is leading people away from sugar
Increase in cases of obesity are also driving the market for sweeteners on a higher curve

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Regional Analysis of Global Sweeteners Market:

Asia Pacific will account for a sizeable share of the global sweeteners market owing to growing awareness regarding healthful alternatives to sugar
Lucrative growth in regions of Middle East and Africa, and Latin America will be noted over the forecast period, creating new growth opportunities for players

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Competitive Analysis of Global Sweeteners Market:

Top-tier players in the global sweeteners market are Roquette Frères, Impala Imperial Sugar Company, Eden Foods Inc., Health Connection Wholefoods, Futaste Co., Ltd., Sigma Aldrich Pte. Ltd., DuPont, Nestlé S.A., JK Sucralose Inc, Cumberland Packing Corp., Hermes Sweeteners Ltd., Ajinomoto co. Inc., Merisant Worldwide Inc., Tereos SA, Cargill Incorporated, Archer Daniels Midland Company, GNC holdings inc., Tate & Lyle PLC, Associated British Foods Plc, and Ingredion Incorporated, among others.

A thorough analysis of the competitors' landscape, including profiling of these top players is present in the report on the market, prepared by Transparency Market Research. It provides insights into financials, products information, and way forward in a comprehensive manner. It is pertinent to note here that key strategies being deployed in the market by players include looking for new sources of sweeteners and strengthening supply chains.

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Global Sweeteners Market Segmentation

Sweeteners Market by Nature

Organic
Conventional

Sweeteners Market by Product Type

Sucrose
Natural Sweeteners

Stevia
Palm Sugar
Coconut Sugar
Honey
Maple Syrup
Monk Fruit Sugar
Agave Syrup
Lucuma Fruit Sugar
Molasses
Other Natural Sweeteners

Artificial Sweeteners

Acesulfame Potassium
Aspartame
Neotame
Advantame
Saccharin
Sucralose
Other Artificial Sweeteners

Novel Sweeteners
Sugar Alcohol

Sweeteners Market by Application

Food

Bakery Goods
Sweet Spreads
Confectionery & Chewing Gums
Dairy Products
Others

Beverage

Carbonated Drinks
Fruit Drinks & Juice
Sports & Energy Drinks
Powdered Drinks & Mixes
Others

Pharmaceuticals
Personal Care
Other Applications

Sweeteners Market by Form

Powder
Liquid
Crystals

Sweeteners Market by Distribution Channel

Direct
Indirect

Hypermarkets/Supermarkets
Convenience Stores
Specialty Retail Stores
Traditional Grocery Retailers
Online Retailers
Other Channels

Sweeteners Market by Category

High Intensity Sweetener
Low Intensity Sweetener

Sweeteners Market by Region

North America

U.S.
Canada

Latin America

Brazil
Mexico
Chile
Peru
Argentina
Rest of Latin America

Europe

EU-4 (Germany, France, Italy, Spain)
U.K.
Benelux
Nordic
Russia
Poland
Rest of Europe

Asia Pacific

India
China
Japan
South Korea
Thailand
Malaysia
Indonesia
Australia
Vietnam
Philippines
Rest of APAC

Middle East & Africa

GCC Countries
Turkey
Iran
Israel
South Africa
Rest of MEA

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Explore Transparency Market Research's award-winning coverage of the global Food & Beverages Industry,

Isomaltulose Market - Non-cariogenic sugar demand, especially from the food & beverages industry and the healthcare industry, is driving the global isomaltulose market. Isomaltulose is known as non-cariogenic sugar, as oral bacteria cannot metabolize this sugar, thereby reducing the risk of mouth cancer and caries. Manufacturing companies have successfully produced products containing non-cariogenic sugar, including chocolates, milk, energy drinks, and bakery goods, among others, in response to the growing demand for non-cariogenic sugar items. In addition, rising demand for safe and non-caloric food products from fitness enthusiasts fuels the growth of the worldwide isomaltulose industry.

Fruit-derived Sweeteners Market - Upward projections will be noticed in the fruit-derived sweeteners market backed by rising consumer demand. No-calorie or low-calorie attributes along with the relative high sweetness of the fruit-derived sweeteners is boosting its sales globally. Major consumer markets for natural sweeteners were limited to stevia only until the advent of other fruit-derived sweeteners. Growing potential for low- and non-caloric sweetener compositions along with properties including high sweetness intensity, better taste, little bitterness, limited levels of off-flavors, reduced aftertaste and any of the combinations will drive the fruit-derived sweeteners market over the forecast period.

Nonnutritive Sweeteners Market - Due to less calorie content, nonnutritive sweeteners are widely used in bakeries and confectionaries for the production of sugar-free products. Besides that, growing trend for health & fitness has also compelled consumers to buy products that have less sugar or calorie content. Nonnutritive sweeteners have a great impact on the body; they are beneficial for those suffering from diabetes, obesity, and other health-related disorders. Due to these health beneficial properties, the demand for nonnutritive sweeteners market is anticipated to increase rapidly during the forecast period.

Natural Caloric Sweeteners Market - Natural caloric sweeteners are one of the oldest sweeteners, and include maple syrup, coconut palm sugar, sorghum syrup, and honey. Natural caloric sweeteners contain sugar, and other inherent nutritive qualities, which is expected to propel the demand in the global market. Natural caloric sweeteners are directly extracted from plants such as coconut palm tree, maple tree, honey, and some fruit juices. It also contains nutrients such as vitamin B and magnesium. Moreover, natural caloric sweeteners are used in food and pharmaceutical industries as they have many benefits resulting in massive demand in the market. Listed are the factors responsible for the growth of the natural caloric sweeteners market and are expected to remain significant over the forecast period.

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