According to the latest report by IMARC Group, titled “Food Sweetener Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global food sweetener market size reached US$ 89.3 Billion in 2022. Food sweetener refers to an additive used to impart a sweet taste in various food and beverages (F&B). It includes artificial and natural products, such as sucrose, molasses, thaumatin, honey, saccharine, corn syrup, maltitol, xylitol, glucose, and maple syrup. Food sweeteners are identical to sugar in texture, taste, functionality, and interaction with ingredients. They are also used in the fermentation, tenderization, caramelization, and food browning processes. Food sweeteners act as a carrier for trace ingredients and are essential for maintaining freshness, reducing freezing points, retaining moisture, enhancing flavor, and improving viscosity. They also assist in regulating calorie intake and minimizing the risk of various diseases, such as diabetes, obesity, and tooth decay.
Global Food Sweetener Market Trends:
The rising product utilization in the F&B industry is one of the primary factors driving the market growth. Food sweeteners are widely used in soft drinks, candies, chewing gums, yogurt, desserts, cold breakfast cereals, instant coffee, tea, puddings, ice creams, toppings, fruit juices, dairy, and bakery products. Moreover, the escalating demand for various convenience and processed goods, such as ready-to-eat (RTE) foods, ready-to-drink (RTD) beverages, frozen dinners, and snacks, is acting as another growth-inducing factor. Furthermore, the increasing concerns regarding the prevalence of obesity are encouraging consumers to opt for natural and zero-calorie sweeteners, which, in turn, is propelling the market growth. In line with this, rising consumer awareness regarding various health benefits of the product, as it prevents tooth decay, controls blood sugar levels, reduces calorie intake, maintains weight, and aids in managing diabetes and cardiovascular diseases (CVDs), is providing an impetus to the market growth. Apart from this, the introduction of plant-based food sweeteners, such as stevia and monk fruit, that are healthier, safer, more reliable, and offer improved taste, is positively influencing the market growth. Additionally, the widespread product utilization to manufacture low-sugar and -calorie consumer goods, such as ice cream, diet coke, and puddings, due to the rising health consciousness among the masses, is favoring the market growth. Other factors, including rising expenditure capacities of consumers, increasing product availability across various e-commerce platforms, and the implementation of various government initiatives to reduce sugar consumption, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 104.2 Billion by 2028, exhibiting a CAGR of 2.3% during 2023-2028.
- On the basis of the product type, the market has been divided into sucrose, starch sweeteners and sugar alcohols (dextrose, high fructose corn syrup (HFCS), maltodextrin, sorbitol, xylitol, and others), and high intensity sweeteners (HIS) (sucralose, stevia, aspartame, saccharin, neotame, acesulfame potassium (Ace-K), and others).
- Based on the application, the market has been classified into bakery and confectionery, dairy and desserts, beverages, meat and meat products, soups, sauces, and dressings, and others.
- On the basis of the distribution channel, the market has been divided into supermarkets and hypermarkets, departmental stores, convenience stores, online stores, and others.
- On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Ajinomoto Co. Inc., Archer-Daniels-Midland Company, Cargill Incorporated, Celanese Corporation, DuPont de Nemours Inc., Foodchem International Corporation, GLG Life Tech Corporation, Ingredion Incorporated, NutraSweet Company (Manus Bio), S&W Seed Company, Tate & Lyle PLC and Tereos.
|Base Year of the Analysis
||Product Type, Application, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Ajinomoto Co. Inc., Archer-Daniels-Midland Company, Cargill Incorporated, Celanese Corporation, DuPont de Nemours Inc., Foodchem International Corporation, GLG Life Tech Corporation, Ingredion Incorporated, NutraSweet Company (Manus Bio), S&W Seed Company, Tate & Lyle PLC and Tereos
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