Artificial and Natural Sweetener Market Trend – A Selective Snapshot
An increasing inclination towards healthy eating habits, a growing preference for minimizing sugar intake among others, the rising prevalence of non-non-communicable diseases which comprise lifestyle diseases as well, coupled with the growing trend of healthy snacking, rapid urbanization, growing availability of disposable income; high investments of R&D, product innovation as a response to the aforesaid as well as a gradual shift in eating habits is few of the factors which are anticipated to primarily drive the Artificial and Natural Sweetener market to attain an estimated market value of US$28,846.997 million in 2025 after growing at a CAGR of 1.98% from the estimated market value of US$25,639.598 million of 2019 as per the estimates of Knowledge Sourcing Intelligence.
The natural sweetener segment is expected to occupy a higher share of the market contributing to the forecasted growth of the global artificial and natural sweetener market.
Among the two different kinds of sweeteners, the segment of natural sweeteners is expected to occupy a higher share in the market due to a plethora of factors. Before a few of the factors are touched upon it is pertinent to note that as per the estimates of Knowledge Sourcing Intelligence, the Natural Sweetener Market has been forecasted grow at a CAGR of 6.14% to attain an estimated market value of US$13.935 billion in 2024 from the estimated market value of US$9.748 billion of 2018. This in contrast with the Artificial Sweetener Market which as per the estimates of Knowledge Sourcing Intelligence, this market has been forecasted to grow at a CAGR of 3.59% to attain an estimated market value of US$9.318 billion in 2025 from the estimated market value of US$7.542 billion of 2019.
Natural sweetener comprises of products that are derived from natural sources are known to be free of any chemicals and is adequately capable of substituting sugar in one’s diet unless otherwise specifically directed by a licensed medical practitioner and /or licensed nutrition expert. As a greater number of consumers are acknowledging the benefits of better-for-you products driven by the growing trend of health and wellness-based food and beverage consumption, a higher degree of innovation in food and beverage industries as well as in the food ingredients industry which are poised to deliver novel products that would not only nourish the body but also would ensure an enriching experience for the mind and soul. Such a shift in the consumerism paradigm is also marked with the aspiration for products that are reportedly formulated with ingredients that can be pronounced with ease and for those with a relatively shorter list of ingredients.
This trend is further augmented by the growing demand for transparency about how ingredients are sourced and how products are manufactured. Besides, according to International Food Information Council, all the Food and Health Surveys conducted by the organization found the aspect of taste to be the prime factor influencing food and beverage purchases which were confirmed by 86% of consumers during its 2019 survey which are accompanied by healthfulness, among others. Moreover, according to the World Health Organisation (WHO) consumption of free sugars leads to the intake of excess calories, which in turn, contributes to unhealthy weight gain, which can lead to overweight and obesity and increase the risk of cardiovascular diseases (CDVs). Further WHO advises restricting the consumption of food and beverages that contain high amounts of sugars Viz. sugary snacks. Besides an unhealthy diet, and the resultant excess body weight, among others, is known to cause multiple types of cancer and are emerging risk factors for cancer worldwide. Further, young adults suffering from cancers associated with excess body weight, such as colorectal and endometrial cancers are eclipsing the health effects of the obesity epidemic. Further, the rapid increases in uterine corpus cancer incidence are estimated to be due to the obesity epidemic. Thus, the aforementioned have incentivized consumers to monitor their sugar intake and adhere to healthier diets and also seek alternatives that can offer the same sensorial aspects imparted by sugar.
The segment of stevia is expected to occupy a substantial share of the natural sweetener segment effectuating a meteoric rise in the global artificial and natural sweetener market growth.
To put matters in perspective it is relevant to note that the global stevia market is anticipated grow at a CAGR of 8.09% according to the forecasts by Knowledge Sourcing Intelligence to attain an estimated market value of US$998.058 million in 2025 from the estimated market value of US$625.810 million of 2019 as compared to the maple syrup market, among others, which according to Knowledge Sourcing Intelligence is projected to attain a market value of US$951.412 million by 2024 from US$679.979 million in 2018 after growing at a CAGR of 5.76%. Now with regards to the sweetening capability of stevia (Stevia rebaudiana), it is normally derived from several compounds called steviol glycosides that provide variations in taste profiles and sweetness levels that range from 50 to 400 times that of sucrose. Most stevia extracts are made using rebaudioside A (reb A), one of the most prominent steviol glycosides in stevia leaves. Being a plant-based sweetener that resonates with the plant-based revolution which is sweeping the food and beverage landscape the stevia segment is anticipated to reach stratospheric height during the forecast period.
Further certain recent market developments are a resounding reaffirmation of the anticipated growth mentioned above. For instance, as a response to the demand for clean-label zero-calorie natural sweeteners, a product of this nature called Bestevia® Reb I was announced to have been added to the portfolio of natural sweeteners of SweeGen in October 2020. This product is reportedly produced by a patented bioconversion technology and works well with a wide range of product applications that are inclusive of but not limited to savory, nutritional bars, dairy, confectionery, and beverages. Further, the promise of stevia has also resulted in strategic moves like the reported acquiring of a 75% controlling stake in stevia supplier PureCircle by Global ingredients giant Ingredion (NYSE: INGR) in April 2020 facilitating PureCircle to increase its market penetration and operating efficiencies and enable Ingredion to compliments its complement its portfolio of stevia solutions.
Leave a ReplyWant to join the discussion?
Feel free to contribute!