Global Monk Fruit Sweetener Market - 2023-2030

Overview

Global Monk Fruit Sweetener Market reached US$ 593.8 million in 2022 and is expected to reach US$ 870.7 million by 2030, growing with a CAGR of 4.9% during the forecast period 2023-2030.

The increasing health concerns related to sugar and sugar-based products are converting consumers' focus towards sugar substitutes that can help in calorie reduction and provide way required sweetness to the product. Monk fruit sweeteners and other natural sweeteners are gaining popularity due to their health benefits. They help in providing antioxidants and other nutrients to the body additionally with only lower or no calories.

Consumer awareness regarding the benefits of natural sweeteners over artificial sweeteners is increasing their demand in the market. Various existing products are now being tested to replace artificial sweeteners with natural sweeteners such as stevia and monk fruit. For instance, in April 2023, Coca-Cola announced that it is testing the Diet Coke variant sweetened with monk fruit and stevia instead of the artificial sweeter aspartame.

The improved facilities for the introduction of monk fruit sweeteners in various global regions are helping the expansion of the market. Various companies participating in the wide distribution of monk fruit sweeteners. For instance, Lakanto, a Japanese brand that belongs to Saraya, a company involved in manufacturing and selling health and hygiene products and services introduced monk fruit-based sweetener in India providing the sweetener benefits to Indian consumers in November 2022.

Dynamics

Increasing Demand for Natural Sweeteners

Increasing health concerns associated with high-caloric food products are increasing the demand for low and zero-calorie products. Artificial and natural sugar substitutes are used in the product of these products. Some of the health concerns related to the high intake of artificial sweeteners is increasing the demand for natural sweeteners such as monk fruit sweetener. Wide offerings of low-calorie products with natural sweeteners, increase the market growth.

Food & beverage and pharmaceutical industries widely incorporate natural sweeteners in their product production. For instance, in June 2023, Wisdom Natural Brands, a sugar substitute brand in the natural channel announced the expansion of its SweetLeaf product line with the introduction of zero-calorie sweeteners and 50% reduced calorie sugars. The products are produced from natural ingredients such as extracts of stevia and monk fruit, that can be used as sugar replacements.

Increasing Developments in Providing Monk-Fruit Sweetener

The research and experiments taking place in the field of monk fruit to produce these fruits in various conditioned lands positively help in expanding the market growth with the wide availability of monk fruits for sweetener extraction. For instance, CSIR-IHBT introduced monk fruit in India through NBPGR-ICAR, New Delhi. According to CSIR, September 2023, the nursing raising technique has been standardised and now the plantation is established.

In February 2023, Elo Life Systems, a North Carolina-based food technology announced its plan to launch new natural high-intensity sweeteners in 2025. With the greater demand for monk fruit sweeteners, the Elo Lofe System is planning the scale the production of monk fruit-inspired high-intensity sweeteners. The company claimed that the sweetener would be more sustainable and affordable compared to due current monk fruit sweetener and could be readily available in higher quantities than the conventional products.

High Cost and Large Competition from Artificial Sweeteners

Monk fruits are difficult to grow. They need a selected range of weather and other conditions to grow, causing limited raw material availability. The manufacturers face various challenges in sourcing the raw materials required for monk fruit sweetener production. The improper availability of these fruits raise the import and export charges adding additional production costs for the producers.

The high cost of these raw materials results in higher product prices. For instance, NuNaturals Pure Monk Fruit Sweetener of 20 gr costs around 2,545 INR whereas ProFoods Aspartame Powder is available in 1 kg for 2, 810 INR. The health benefits associated with natural sweeteners make it more expensive than other artificial sweeteners in the market. Conventionally food and beverage manufacturers are choosing artificial sweeteners over natural ones due to higher prices, restarining the market growth.

Segment Analysis

The global monk fruit sweetener market is segmented based on type, category, distribution channel, application and region.

High Demand for Low-Calorie Food and Beverage Products

The global monk fruit sweetener market is segmented based on application into food and beverages and pharmaceuticals. The food and beverage segment accounted for the largest share of the global monk fruit sweetener market. The food and beverage segment is subdivided into bakery & confectionery, dairy products and dietary supplements. The high demand for low-caloric food and beverage products is driving the use of products in this segment.

The various applications and new product launches of monk fruit sweeteners in the food and beverage sector drive the market growth. For instance, in March 2023, Vitaminwater, the product of Coca-Cola, introduced two new flavours namely With Love and Forever You, to its zero sugar lineup. The newly introduced products are formulated with the latest sweetener formula including monk fruit and stevia.

Geographical Penetration

Increased Demand for Low-Calorie Food Products In North America

North America dominated the global monk fruit sweetener, due to the increased consumer health consciousness and demand for healthy products is also increasing. High snacking and on-go food practices with high calories are increasing the risk of lifestyle disorders. The increasing prevalence of obesity and diabetes increases the demand for low and zero-calorie food products in this region.

According to the Centers for Disease Control and Prevention 2023, obesity affects over 41.9 % of adults and 19.7 % of children in the United States. Similarly, according to the CDC, about 37.3 million Americans are suffering from diabetes, covering about 11.3 % of the United States population. With the increasing concerns about these lifestyle disorders, the demand for low-calorie products is increasing rapidly in this region, driving market growth.

The increasing consumer awareness regarding the importance of natural sweeteners and their benefits over artificial sweeteners is improving the market growth in North America. The presence of major market players in this region and a wide range of products available incorporated with natural sweeteners such as monk fruit sweeteners boost the market growth. The increasing purchasing power of the customers of this region fuels market size expansion with improved demand and sales.

Competitive Landscape

The major global players in the market include: Archer Daniels Midland Company, Tate & Lyle Plc., GLG Life Tech Corp., Monk Fruit Corp., Steviva Brands, Inc., Guilin LAYN Natural Ingredients Corp, NOW Foods, NuNaturals, Whole Earth Sweetener Co. and Firmenich.

COVID-19 Impact Analysis:

The outbreak of the COVID-19 pandemic moderately impacted the global monk fruit sweetener market. The pandemic created challenges for manufacturing in sourcing the raw materials and processing the fruit for sweetener extraction due to the unavailability of labor and a temporary halt in manufacturing facilities. The distribution disruptions created challenges in the reach of these sweeteners for their use in the production of various food and beverage products.

The decreased production facilities and sales of the final products that use monk fruit sweetener as a natural sweetener also impacted the demand for this product in the market. The availability of this product through an online sales platform slightly improved sales in the pandemic situation. In addition, the high demand for natural sweeteners from the consumer end improved their use in various products positively impacting the market growth.

Russia- Ukraine War Impact

The Russia-Ukraine war had a negative impact on many industrial sectors, including food and food service sectors. The interrupted supply chain activities and distribution channels due to war conditions created a huge impact on the demand-supply chain conditions, creating challenges in sourcing the raw materials and distributing the final product to the end-users. The war created import and export trade disruptions, resulting in economic disturbances.

By Form

• Liquid
• Powder

By Category

• Organic
• Conventional

By Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• E-commerce

By Application

• Food and Beverages
• Pharmaceuticals

By Region

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe

• South America
  • Brazil
  • Argentina
  • Rest of South America

• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific

• Middle East and Africa

Key Developments

• In July 2022, Whole Earth Brands-owned Swerve, announced its expansion of zero-sugar and zero-calorie-based offerings with the introduction of the monk fruit and allulose sweetener in their product portfolio.
• In November 2021, Ecoideas, a leading manufacturer and distributor of natural health products expanded their monk fruit sweeteners offering by introducing organic monk fruit with erythritol sweetener that can be used as a substitution for the traditional sweeteners.
• In July 2020, Tate & Lyle Plc., a world leader in ingredient solutions for healthier food and beverages launched SWEETENER-VANTAG Expert Systems a set of new and innovative sweetener solution design tools that help in creating low-calorie sweeteners food and beverage products.

Why Purchase the Report?

• To visualize the global monk fruit sweetener market segmentation based on type, category, distribution channel, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of monk fruit sweetener market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global monk fruit sweetener market report would provide approximately 69 tables, 64 figures and 230 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies