Overview and Scope
Natural sweeteners are sugar substitutes that are refined and prepared using methods such as boiling, mixing, pH adjustment, filtration, and fermentation. They are used to improve the palatability and shelf life of food products and have the potential to make the food both nutritional and flavorful.
Sizing and Forecast
The natural sweeteners market size has grown strongly in recent years. It will grow from <b>$5.71 billion in 2023 to $6.09 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. </b> The growth in the historic period can be attributed to increased health consciousness, rise in demand for low-calorie alternatives, consumer preference for natural ingredients, regulatory support for natural sweeteners, implementation of sugar taxes.
The natural sweeteners market size is expected to see strong growth in the next few years. It will grow to <b>$7.95 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. </b> The growth in the forecast period can be attributed to increasing demand for low-calorie and sugar-free food and beverages, rising diabetic population, growing market for functional foods and beverages, clean label regulations, urbanization in developing countries. Major trends in the forecast period include monk fruit’s emerging popularity, plant-based and vegan diet , sustainable sourcing, blending natural sweeteners, functional sweeteners with prebiotic or probiotic properties.
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Segmentation & Regional Insights
The natural sweeteners market covered in this report is segmented –
1) By Type: Stevia, Sorbitol, Xylitol, Mannitol, Erythritol, Sweet Proteins, Other Types
2) By Application: Bakery Goods, Sweet Spreads, Confectionery And Chewing Gums, Beverages, Dairy Products, Other Applications
3) By End-User: Food And Beverages, Pharmaceutical, Direct Sales, Other End-Users
<b>North America</b> was the largest region in the natural sweeteners market in 2023. The regions covered in the natural sweeteners market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing prevalence of diabetes and obesity is expected to propel the growth of the natural sweeteners market in the coming years. A large portion of the population is choosing low sugar options to manage their diabetes and obesity conditions. Many individuals are switching from refined table sugar and high-fructose corn syrup to natural sweeteners because they are a healthier alternative to refined sugars and can help people lose weight. For instance, in 2022, Centers for Disease Control and Prevention, a US-based national public health agency, around 37.3 million people are suffering from diabetes which equals 11.3% of the United States population. Additionally, according to the International Diabetes Federation’s December 2021 report, a Belgium-based leading global diabetes community approximately 537 million adults are suffering from diabetes globally, whereas 3 out of 4 adults are in low- and middle-income countries. Therefore, the increasing prevalence of diabetes and obesity drives the growth of the natural sweeteners market.
Key Industry Players
Major companies operating in the natural sweeteners market include <b> Associated British Foods., Archer-Daniels-Midland Company, Cargill Inc., E.I. du Pont de Nemours & Company, FoodChem International Corporation, Galam Ltd., GLG Life Tech Corp, Herboveda India, Imperial Holly Corporation, Ingredion Inc., Madhava Foods Ltd., Merisant UK Ltd., Morita Kagaku Kogyo Co. Ltd., Ohly GmbH, Associated British Foods plc, DSM NV, Ecogreen Oleochemicals Pvt Ltd., Fooditive B.V, Hearthside Food Solutions LLC, Koninklijke, MacAndrews & Forbes Holdings Inc., Madhava Ltd., Nestle SA, Pyure Brands LLC, Saganà Association, Stevia Biotech Pvt. Ltd., Suminter India Organics Pvt. Ltd., The Real Stevia Company, Wilmar International Ltd., XiliNat </b>
The natural sweeteners market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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