Sweeteners Market Insights
The Sweeteners Market is expected to register a CAGR of 3.51% from 2021 to 2032 and hold a value of over USD 732.57billion by 2032.
The continuously changing lifestyles and food habits among consumers are enhancing the growth of the fast-food and bakery industries, which has led to substantial growth in the sweeteners market size in recent years. Sweeteners are used in bakery food products not only for their sweet flavour but also for their ability to bulk, structure, brown, aerate, and maintain the product’s moisture, shelf life, and appeal. The growth of honey and artificial sweeteners can be credited with increasing health consciousness among consumers and encouraging healthier and more nutritious food around the globe. In addition to this, the growing inclination towards natural products is propelling the growth of the market. Manufacturers contribute a wide range of sugar substitutes such as xylitol, mannitol, erythritol, stevia, and honey due to the rapidly growing consumption around the world.
During the COVID-19 eruption, the demand for sugarless and low-calorie foods witnessed a slump, slightly troublesome to the application segment of food sweeteners across the market. However, a few sugar substitutes expect a rising demand in the future, driven by rising sales, especially of artificial and natural sweeteners. Manufacturers choose the low-calorie sweetener, either on its individual or as a blend, based on taste considerations, stability, and cost.
Key Players
Some of the key market players are ADM, Ingredion, Cargill, Incorporated, Roquette Frères, Tate & Lyle, Foodchem International Corporation, PureCircle, Pyure Brands LLC, Beeyond the Hive, Dabur India Ltd., Kerry Group plc, Ajinomoto Co., Inc., International Flavors & Fragrances Inc., DFI Corporation, Nascent Health Sciences, LLC
Market Segmentation
The global sweeteners market overview has been segmented by product type and application.
Based on type, the global sweeteners market segment based on type includes natural sweeteners and artificial sweeteners. Natural sweeteners are further separated into stevia, erythritol, xylitol, and others. Among these, stevia was dominating the sweeteners market and is projected to grow higher in the forecast period.
Based on application, the global sweeteners industry segment includes dairy, frozen desserts, confectionery, bakery, beverages, and others. The bakery and confectionery segment is dominating the market.
Regional Analysis
North America holds the highest high-strength sweeteners market share. North America has the largest market for bakeries and confectionery which is pouring the growth of the sweeteners industry in this region. Market shares of artificial sweeteners in the USA in high owing to growing diabetes and obesity in this region.
The adoption of sweeteners and the rising number of health problems among people are driving the growth of the sweetener market in this region. Europe has the second-largest market for high-intensity sweeteners market. The high use of sweeteners in alcoholic beverages will drive demand for the sweetener industry in this region.
During the projection period for the sweeteners market size, the Asia-Pacific region is expected to develop more quickly and have a high CAGR. The region's market will grow as a result of the rising population and health concerns.
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