Market Analysis
The global sweeteners market is likely to grow at a 4.9% CAGR between 2017- 2023, reveals the new Market Research Future (MRFR) report. Sweeteners, simply put, are food additives that are used as a substitute to sugar. It is used to improve the shelf life and palatability of food products and is available in two forms, natural sweeteners that are naturally produced and artificial sweeteners. Sweeteners are calorie-free or low in calorie, thus have gained immense traction, especially among the health-conscious consumers. Beverages, dairy & frozen desserts, bakery and confectionery, and others, are some of the key applications of sweeteners.
Numerous factors are adding to the global sweeteners market growth. Such factors, as revealed by the latest MRFR report, include new product developments, technological advancements, increasing inclination of consumers towards low-calorie products, rising health concerns among consumers, and increasing prevalence of diabetes and obesity. Additional factors propelling the global market growth include burgeoning demand for low-calorie products that have influenced manufacturers to develop sweeteners, the substitute to sugar, and the rapidly growing bakery & confectionery and beverages industry.
On the contrary, certain side effects resulting from artificial sweeteners may limit the global sweeteners market over the forecast period.
Key Players
Notable players profiled in the global sweeteners market report include CELANESE CORPORATION (U.S.), AJINOMOTO (Japan), Tate & Lyle plc (U.K), DuPont Nutrition & Health (Denmark), Cargill Incorporated (U.S.), Kerry Group PLC (Ireland), and Archer Daniels Midland Company (U.S.), among others. Industry players have incorporated strategies such as strategic alliances, partnerships, new product launches, and new product development, collaborations, extensive research and development activities, joint ventures, and mergers & collaborations to stay ahead in the competition and also cater to consumers growing needs.
Market Segmentation
The Market Research Future Report provides an inclusive segmental analysis of the global market based on application and type.
By type, the global sweeteners industry is segmented into artificial sweeteners and natural sweeteners. Natural sweeteners are again segmented into erythritol, xylitol, stevia, and others. Of these, stevia will lead the market over the forecast period. Artificial sweeteners are again segmented into glutamate, acesulfame K, neotame, sucralose, aspartame, and others. Of these, aspartame will dominate the market over the forecast period, followed by sucralose.
By application, the global sweeteners market segment into beverages, dairy & frozen desserts, bakery and confectionery, and others. Of these, bakery and confectionery will have a major share in the market over the forecast period followed by beverages.
Regional Analysis
By region, the global polyol sweeteners market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will lead the market during the forecast period for the rising health-conscious population. The US is the key contributor in the region.
The global sweeteners market value in Europe is predicted to hold the second-largest share during the forecast period for the rapidly growing beverage market. Netherlands, France, Germany, and the UK are the key contributors in the region.
The global sweeteners market analysis in the APAC region is predicted to grow at a quick pace and a higher CAGR over the forecast period for the increasing application of sweeteners in various industries. China is the key producer of sweeteners, followed by India.
The global sweeteners industry in the RoW is predicted to have healthy growth over the forecast period.
Industry News
March 2020: MTC Holdings, Inc., has completed its R&D phase for its line of Hemp You Can Feel coffee creamers and sweeteners. This product line will include three powdered non-dairy creamers, two organic sweeteners, and two low-calorie sweeteners.
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