The natural sweetener market is projected to grow at a CAGR of 6.14% to reach US$13.935 billion in 2024 from US$9.748 billion in 2018. Natural sweetener refers to a food additive used as a sugar substitute, it is derived from natural food sources without the use of any added chemicals and is thought to be sweeter than sugar. The natural sweeteners market is analyzed through types, applications, and geography. Natural sweeteners are of various types such as honey, coconut sugar, stevia plant, blackstrap molasses, real maple syrup, monk fruit, brown rice syrup, etc. These natural sweeteners are considered to be better and safer for consumption owing to the fact that they are stemmed from natural resources and do not have any chemicals added to the process, or to the end products, which as a result has become more appealing to the ever-growing health conscious individuals in the world.
Geographically, Asia Pacific is evaluated to hold a significant market growth rate during the forecast period because of the quick urbanization as well as the rise in disposable income. The North American and the European regions are expected to hold a high share in the market on account of high consumption of beverages, confectionaries, nutritional and dairy products, which are some of the most notable areas where Natural sweeteners are used as well as current trends in these regions concerning leading a healthier lifestyle.
Increasing investments and research in sugar substitutes
Due to the low/non-caloric value of various natural sweeteners, it is the perfect substitute for people aiming to lose weight
Growing health-conscious population preferring low-calorie food options
Availability of substitutes
Allergic reactions caused by natural sweeteners
Stringent Government regulations
In May 2018, Coca Cola launched a Coke in New Zealand that has been 100% sweetened with the Stevia Leaf.
Major industry players profiled as part of the report are Cargill, Inc., Archer Daniels Midland Company, Ingredion Incorporated, Tate and Lyle PLC, Dupont, Madhava Honey, Ltd., Lakanto, Wholesome Sweeteners Inc., Whole Earth Sweetener Co., LLC, Herboveda India Pvt. Ltd., among others.
The natural sweetener market has been analyzed through the following segments:
Confectionary and Bakery
Middle East and Africa