This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
Sweeteners Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
GET A FREE SAMPLE
Report Overview
The global sweeteners market was valued at USD 83.9 billion in 2022 and is projected to expand at a CAGR of 6.2% from 2023 to 2030. Sweeteners are used to replace sugar in food and beverages as they provide a sweet taste but contain fewer calories than sugar. Sweeteners are used in a wide range of food and beverage products, and are becoming increasingly popular due to health concerns and rising consumer awareness about their benefits. For instance, the use of sweeteners in soft drinks has increased significantly over the last few years, as consumers are opting for healthier alternatives.
The market is witnessing a shift in consumer preference from artificial sweeteners to natural sweeteners, such as stevia, monk fruit, and sugar alcohols, due to their various health benefits. Natural sweeteners are becoming increasingly popular due to their low-calorie content, reduced glycemic indices, and various other beneficial effects. Furthermore, some food and beverage companies have been introducing a range of products with natural sweeteners to cater to the rising demand from health-conscious consumers. For instance, in April 2021, PepsiCo’s beverage brand, Mountain Dew, launched a new variant with stevia as a sweetener.
In addition, the demand for sugar-free food and beverages is increasing due to health concerns, such as diabetes and obesity, caused by the consumption of sugar-rich products. For instance, in June 2021, Dr Pepper Snapple Group announced the launch of its new sugar-free beverage, Dr Pepper 10. The beverage contains 10 calories per 12-ounce serving and is sweetened with the sugar substitutes Splenda and Ace-K, which helps to reduce the calorie content of the beverage.
The growing demand for functional beverages is one of the key factors driving the sweeteners market. Functional beverages are gaining popularity among health-conscious consumers as they offer health benefits in addition to providing a pleasant taste. For instance, in August 2021, Nestlé launched a new range of functional beverages, called NESTLÉ Wellness, which is sweetened with stevia and erythritol, two natural sweeteners. The new range of beverages offers health benefits, such as improved digestion, enhanced immunity, and improved heart health.
Moreover, the increasing adoption of sweeteners in various products, such as confectionery, bakery, and dairy products, is also driving the market growth. Companies are introducing a variety of sweeteners to cater to the rising demand for low-calorie products. For instance, in August 2021, Cargill launched a new range of sweeteners called EverSweet, which is made from stevia leaf extracts and erythritol. The new sweetener range is designed to help manufacturers reduce sugar and calorie content without compromising on taste.
Product Insights
The natural sweeteners segment accounted for the largest market share in 2019, and is projected to witness the highest growth rate during the forecast period. Natural sweeteners are gaining popularity due to their health benefits, such as low calorie content, low sugar content, and natural sugar sources. Furthermore, increasing health awareness among consumers and rising demand for healthy food products are factors driving the demand for natural sweeteners. According to an article published by Food Navigator in October 2020, about 62% of consumers prefer natural sweeteners over artificial sweeteners.
The artificial sweeteners segment is expected to witness moderate growth during the forecast period. These sweeteners are gaining traction due to their longer shelf life, low cost, and low calorie content. Moreover, growing demand for low-calorie food and beverages, owing to increasing health consciousness, is expected to drive the segment growth. According to an article published by Global Data in August 2020, the artificial sweeteners market is expected to reach USD 17.5 billion by 2027.
Distribution Channel Insights
The supermarkets and hypermarkets segment held the largest market share of over 31.2% in 2022. Supermarkets and hypermarkets are the major distribution channels for sweeteners products. These stores offer a wide range of food products, including sweeteners, to consumers. Moreover, supermarkets and hypermarkets also offer discounts and promotional activities, which helps to attract customers. Furthermore, customers can easily compare different products and select the best option.
The online segment is anticipated to grow at the highest CAGR of 10.2% over the forecast period. The increasing penetration of the internet and the growing demand for convenience among consumers have boosted the growth of the online segment. The online distribution channels provide sweeteners products at competitive prices and offer a variety of options to compare with different brands. Additionally, the availability of free shipping and delivery services offered by e-commerce platforms is also driving the growth of the segment.
Type Insights
The artificial sweeteners segment accounted for the largest revenue share of 69.3% in the year 2022. The increasing demand for low-calorie food and beverages, especially in the developed regions, is driving the artificial sweeteners market. Furthermore, the growing focus on health & wellness among the consumers and the growing preference for natural ingredients, especially in the U.S. and Europe, are the major factors responsible for the growth of the artificial sweeteners segment.
The natural sweeteners segment is expected to expand at a CAGR of 8.1% during the forecast period. The growing inclination of consumers toward natural and organic products is driving the demand for natural sweeteners. Factors such as the health benefits associated with natural sweeteners, the increasing need for sugar-free food and beverages, and the growing awareness about health & wellness, are expected to drive the natural sweeteners segment during the forecast period.
Europe dominated the sweeteners market and accounted for the largest revenue share of over 30.2% in 2022. The presence of a large number of confectionery and beverage manufacturers in the region is the key factor behind this growth. For instance, in June 2021, Tate & Lyle launched a new range of vegan-friendly sweeteners in the UK.
The Asia Pacific is expected to witness the fastest growth in the coming years. Increasing health awareness and shifting preference towards natural sweeteners, such as stevia, is a key factor behind this growth. Moreover, rising demand for organic and low-calorie sweeteners from countries, such as India and China, is further expected to fuel the market growth in the region. For instance, in April 2022, Foodchem launched a new range of natural sweeteners in India.
Financial Projections
In this part of the sweeteners products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your sweeteners products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a sweeteners products business comes from the sale of sweeteners products and ingredients to customers, retail stores, and food manufacturers. Here you will find a list with a description of possible sources of profit such as seasonal sales, discounts, and bulk orders.
Projecting Expenses
In this section, all the regular expenses related to keeping the sweeteners products business running will be described. The list of operating expenses includes wages, ingredients, packaging, marketing and advertising, shipping, and others.
Key companies & market share insights
Some of the key companies operating in the sweeteners market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Tate & Lyle PLC launched a new stevia-based sweetener called Truvia.
– In August 2022, Cargill Inc. launched a new low-calorie sweetener called EverSweet.
– In October 2022, Ingredion Inc. launched a new line of clean-label sweeteners called SweetRight.
Some of the prominent players in the sweeteners market include:
– Cargill Inc.
– Tate & Lyle PLC
– Tate & Lyle Ingredients Americas, Inc.
– Ingredion Inc.
– Ajinomoto Co., Inc.
– Roquette Frères
– Sunwin Stevia International, Inc.
– PureCircle USA, Inc.
– NutraFoods International, Inc.
– Merisant Company
Global Sweeteners Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global sweeteners market based on product, type, application, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– High Fructose Corn Syrup
– Sucrose
– Aspartame
– Acesulfame K
– Saccharin
– Others
2. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Natural Sweeteners
– Artificial Sweeteners
3. Application Outlook (Revenue, USD Million, 2017 – 2030)
– Food & Beverage
– Pharmaceutical
– Others
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Major Types of Sweeteners?
[A]: The major types of sweeteners include sugar and sugar substitutes. Sugar substitutes are further categorized into non-nutritive sweeteners such as aspartame, saccharin, and acesulfame potassium, and nutritive sweeteners such as honey, sugar alcohols, and maple syrup.
[Q]: What are the Key Drivers of the Sweeteners Market?
[A]: The key drivers of the sweeteners market include the growing demand for low-calorie and healthy food and beverages, increasing prevalence of diabetes and other chronic diseases, and growing consumer awareness about the health benefits of natural sweeteners.
[Q]: Who are the Major Market Players in the Sweeteners Market?
[A]: The major players in the sweeteners market include Cargill Inc., Archer Daniels Midland Company, Ingredion Inc., Roquette Frères, Tate & Lyle PLC, Ajinomoto Co. Inc., Associated British Foods Plc, The J.M. Smucker Company, The Coca-Cola Company, and PepsiCo Inc.
[Q]: What is the Potential of Product Innovation?
[A]: Product innovation is playing a key role in the sweeteners market. Companies are introducing new products with functional benefits, such as natural sweeteners and sugar-free products, to meet the growing demand for low-calorie and healthy food and beverages.
[Q]: Which Region is Expected to Offer the Largest Opportunity for Sales of Sweeteners?
[A]: North America is expected to be the largest region for the sale of sweeteners, with an absolute dollar opportunity of $17.2 B (USD). This is attributed to the increasing prevalence of diabetes and other chronic diseases and rising consumer awareness about the health benefits of natural sweeteners in the region.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
To request a free sample copy of this report, please complete the form below.
We value your investment and offer free customization with every report to fulfil your exact research needs.
