PUBLISHER: 360iResearch | PRODUCT CODE: 1494734
PUBLISHER: 360iResearch | PRODUCT CODE: 1494734
[199 Pages Report] The Food Sweetener Market size was estimated at USD 75.33 billion in 2023 and expected to reach USD 79.44 billion in 2024, at a CAGR 5.65% to reach USD 110.71 billion by 2030.
A food sweetener is a substance used to enhance the sweetness of foods and beverages, which is derived from natural sources, including plants, or produced synthetically. Food sweeteners are commonly used in various food products, including desserts, soft drinks, candies, and baked goods, to replace sugar or lower the overall calorie content. There are various sweeteners, including sugar substitutes such as aspartame, sucralose, and stevia, which provide a sweet taste but with fewer calories compared to regular sugar. They help cater to dietary preferences and health concerns, such as diabetes management or weight control. The food sweetener market is growing due to increasing consumer demand for low-calorie and healthier alternatives. An increasing awareness of dietary health and wellness drives this trend. In addition, the versatile applications of sweeteners in beverages, baked goods, and dairy products further catalyze the food sweetener market growth. However, the food sweetener market faces significant challenges due to product recalls and increased safety concerns. These issues have negatively influenced market growth as consumer confidence has diminished, prompting rigorous regulatory scrutiny and a reevaluation of safety standards across the sector. Developing enhanced extraction techniques for natural sweeteners such as stevia, monk fruit, and allulose has created significant opportunities in the food sweetener market. These technologies help achieve higher purity levels and enhanced flavors, crucial for meeting consumer demand for clean-label and natural ingredients.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 75.33 billion |
Estimated Year [2024] | USD 79.44 billion |
Forecast Year [2030] | USD 110.71 billion |
CAGR (%) | 5.65% |
Regional Insights
The food sweetener market in the Americas is growing, driven by high consumption rates in the United States, Canada, and Brazil. The region exhibits a growing trend toward natural and low-calorie sweeteners propelled by increasing health awareness and rising obesity rates. Products such as stevia and monk fruit sweeteners are gaining popularity owing to their natural origin and low-calorie profile, responding to consumer demands for healthier food options. Furthermore, regulatory aspects, such as labeling requirements and sugar taxes in some countries, motivate manufacturers to innovate and reformulate products with healthier sweetener alternatives. The food sweetener market in the Asia-Pacific is growing, driven by rising disposable incomes, urbanization, and changes in dietary habits. Consumer preferences are shifting towards convenience foods, which often contain added sweeteners. Artificial sweeteners, including aspartame and sucralose, are widely used due to their cost-effectiveness; however, there's a noticeable shift towards natural sweeteners, paralleling global trends towards health and wellness. In addition, the food industry's expansion in this region encourages the usage of various sweeteners to cater to local taste preferences and international standards. In the EMEA region, particularly in Europe, stringent regulatory frameworks regarding food additives guide the sweetener market, strongly emphasizing safety and consumer health. There is a noticeable preference for natural sweeteners over synthetic alternatives, influenced by health-conscious consumers and regulatory bodies. The Middle East and Africa showcase a growing demand for traditional and new sweetener products driven by economic development and changing lifestyles. In these regions, the market potential is augmented by a young population and rising health awareness, although infrastructure and regulatory environments vary widely.
Market Insights
The market dynamics represent an ever-changing landscape of the Food Sweetener Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Food Sweetener Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Food Sweetener Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Whole Earth Brands Acquires Swerve for Enhanced Market Position in Natural Sweeteners
Whole Earth Brands, a major company in the natural sweetener sector, announced an agreement to acquire Swerve, a producer of zero-sugar, keto-friendly, and natural sweeteners. This strategic acquisition, valued at approximately USD 80 million, is poised to significantly strengthen Whole Earth Brands' portfolio in the health-conscious consumer market. [Published On: 2024-02-13]
Avansya joint venture between DSM-Firmenich and Cargill Achieves Milestone with Positive Safety Evaluations
Avansya, a joint venture between DSM-Firmenich and Cargill, successfully obtained favorable safety assessments from the European Food Safety Authority (EFSA) and the Food Standards Agency (FSA). Avansya looks forward to supporting European manufacturers in developing new products that align with consumer health, nutrition, and sustainability demands, thereby not just meeting but exceeding customer expectations with EverSweet(R) as a superior sweetening solution. [Published On: 2024-01-24]
Celanese and Mitsui & Co. Launch Joint Venture
Celanese Corporation and Mitsui & Co., Ltd. officially announced the formation of a joint venture named Nutrinova. This new partnership aims to leverage Celanese's technological strengths and Mitsui's vast global network to innovate and enhance the production and distribution of food sweeteners, specifically focusing on high-potency sweeteners. This collaboration represents a strategic move to strengthen their position in the competitive food additives market, ensuring both companies adapt to changing consumer preferences and sustain growth in their business operations. [Published On: 2023-06-23]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Food Sweetener Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Food Sweetener Market, highlighting leading vendors and their innovative profiles. These include Ajinomoto Co., Inc., Archer Daniels Midland Company, Cargill, Incorporated, Celanese Corporation, GLG LIFE TECH CORP., Global Sweeteners Holdings Limited, Herbalife International of America, Inc., HSWT France SAS, Ingredion Incorporated, JK Sucralose Inc., Jungbunzlauer Holding AG, Kerry Group plc, Layn Corp., Mitsui DM Sugar Holdings Co., Ltd., MORITA KAGAKU KOGYO CO., LTD., NutraSweetM Co. by Manus Bio, PMC Specialties Group, Inc., Roquette Freres, SANXINYUAN FOOD Industry Corporation Limited, SweeGen, Inc., Sudzucker AG, Tate & Lyle plc, Tereos Participations, Wilmar Sugar Pty Ltd., and Zydus Lifesciences Limited.
Market Segmentation & Coverage