The Food Sweeteners market was valued at US$17.988 billion in 2019 and is expected to grow at a CAGR of 3.75% over the forecast period to reach a total market size of US$22.433 billion in 2025. Sweeteners are additives that can be used in place of sugar. The rising shift towards low-calorie food and beverage items in order to stay fit and healthy and manage various chronic diseases is the major driver of the food sweeteners market. The growing prevalence of chronic diseases caused by obesity is encouraging people to opt for healthy dietary patterns which involve less calorie intake. Moreover, consumers have now demanded transparency about the ingredients used in making the product. As such, food and beverage manufacturers are also formulating products with food sweeteners which have low calorie than in added sugars. There have also been proven studies that show the positive correlation between sugar and cancer. As such, the rising number of cancer patients across the globe is also driving the consumption of food sweeteners globally. Governments, as well as international organizations, are also putting efforts to reduce the high consumption of sugar which is causing a mushrooming disease burden at a global level, thus positively impacting the market growth of food sweeteners.
Market players are also expanding their reach in order to capture this growing demand for food sweeteners, both natural and artificial, thereby fuelling market growth. In 2019, SweeGen got approval from Health Canada to sell its non-GMO BESTEVIA® Reb E stevia leaf sweetener. In the same year, Tata Chemicals also launched its nutritional solutions brand- Tara Nx- which includes Zero Sugar, a 100 percent natural sweetener made from stevia herb extract, and lactose.
Food Sweeteners market is segmented by type, application, and geography. By type, the global Food Sweeteners market is segmented into natural sweeteners and artificial sweeteners. By application, the Food Sweeteners market is segmented as dairy, beverages, confectionery and bakery, processed food, and others.
The growing popularity of natural sweeteners
By type, the natural sweeteners segment is projected to witness a higher CAGR during the forecast period. Rising awareness about the benefits of natural calorie-free sweeteners is encouraging people to use them in their day-to-day life so as to curb obesity and other health issues. According to 2018, Food & Health Survey from the International Food Formation Council (IFIC) Foundation, 69 percent of Americans chose products with no artificial ingredients while only 32 percent opted for the product containing artificial ingredients. As such, many food and beverage manufacturers are trying to keep up the pace with this changing consumer demand and launching products which include natural sweeteners such as honey and coconut sugar.
North America holds a significant market share throughout the forecast period
Geographically, the Food Sweeteners market is segmented as North America, South America, Europe, Middle East, and Africa (MEA), and Asia Pacific (APAC). North America is the significant regional market for food sweeteners owing to the high concerns regarding the consumption of sugar among the population of various age groups. Growing prevalence of diabetes and obesity in North American countries has increased the concerns among people as well as governments regarding this unhealthy lifestyle which includes the high intake of sugar. According to the Centers for Disease Control and Prevention, 6 in 10 adults in the U.S. suffer from chronic disease. According to the report released by the World Obesity Federation (WOF), more than 10 million adults in Canada are projected to live with obesity in eight years from 2018. Rising cases of cancer is also encouraging people in countries like the United States and Canada to switch to sweeteners, both natural and artificial, which lesser calories as compared to the amount present in added sugars. Furthermore, supportive government policies and guidelines to encourage the reduction of sugar intake in the diet is also contributing to the growth of this regional market. However, APAC will experience a substantial CAGR during the forecast period owing to the increasing number of food and beverage manufacturers expanding their facilities in the region. With growing global trade volume, these manufacturers are using a different type of food sweeteners in place of added sugars so that they can export their products in countries where regulations and guidelines regarding high-calorie intake are strict and there is high awareness about the bad effects of added sugars on human health. This, in turn, is fuelling the demand for food sweeteners in the APAC region.
Prominent key market players in the Food Sweeteners market include B&G Foods, Inc.,Ajinomoto Co, Inc.,Cumberland Packing Corp., Merisant Company , HYET Sweet, Cargill, Incorporated, Celanese Corporation, Sweeteners Plus, LLC., andBENEO among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the Food Sweeteners market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.