Hyderabad, July 18, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Food Sweetener Market Report (2023-2028)," the market is estimated at USD 87.70 million in 2023. It is expected to register a CAGR of 2.47% during the forecast period.
Food sweeteners are various substances that are both natural and artificial and give a sweet taste to food and beverages. Sugar substitutes like erythritol, mannitol, and xylitol are being consumed due to increasing consumer awareness, the government’s various policies to cut down sugar consumption, and the various applications of sugar substitutes in many wellness food products.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 87.70 million |
| Market Size (2028) | USD 99.08 billion |
| CAGR (2023-2028) | 2.47% |
| Study Period | 2018-2028 |
| Fastest Growing Market | South America |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increased consumption of carbonated soft drinks. |
| Changing consumer preference toward sugar substitutes. |
Which are the Top Companies in the Food Sweetener Market?
The food sweetener market is competitive in nature. It consists of players that have established a strong foothold in emerging economies. Major players in the market are engaged in acquisitions, new product launches, expansions, and partnerships to gain a competitive edge in the market.
Notable players in the food sweetener market are,
- Tate & Lyle PLC
- Cargill Incorporated
- Archer Daniels Midland Company
- DuPont de Nemours Inc.
- Ingredion Incorporated
- Ajinomoto Co. Inc.
- NutraSweet Company
- GLG Life Tech Corporation
- Tereos SA
- Foodchem International Corporation
Other Reports That Might Be of Your Interest:
- Egypt Food Sweetener Market Report - The Egyptian food sweetener market is expected to register a CAGR of 5.22% during the forecast period (2023-2028).
- Artificial Sweetener Market Report - The artificial sweetener market is expected to register a CAGR of 3.70% during the forecast period (2023-2028).
Key Highlights from the Food Sweetener Market Report:
Preference for Convenience and Processed Food
- The increasing demand for processed food like sugar-based ready-to-eat food, ready-to-drink beverages, and snacks is driving the use of high-fructose corn syrup. Due to rising disposable incomes, urbanization, and the growing middle-class population, the demand for packaged food is increasing, which is, in turn, increasing the need for high-fructose corn syrup in food and beverage applications.
- Consumers are becoming health conscious. Therefore, the demand for food sweeteners is increasing. The usage of sugar substitutes is increasing due to consumer awareness campaigns and laws mandating less sugar intake.
Maximum Market Share Occupied by Asia-Pacific
- China is one of the largest sweetener producers, which dominates the global market for sweeteners like saccharin, cyclamate, stevia, and neotame. Due to the growing importance of stevia in the country, market players are more focused on this market.
- The rising demand for natural and healthier alternatives to sugar in the region has attracted many food and beverage giants. For instance, Coca-Cola and Pepsi’s shares declined massively due to the use of aspartame. The demand for non-caloric sweeteners in processed food from emerging economies in Asia is mainly driving the market’s growth.
What are the Latest Developments in the Food Sweetener Market?
- In September 2022, Cargill launched a corn wet mill in Pandaan to cater to the growing consumer need for starches, sweeteners, and feed in Asia and Indonesia.
- In July 2021, LaynNatural Ingredients announced to invest USD 148 billion to develop its infrastructure. The company’s upcoming facility is expected to be completed in the next three years and will have the capacity to process 4,000 tonnes of stevia leaf extract annually.
Mordor Intelligence has Segmented the Food Sweetener Market Based on Product Type, Application, and Geography:
- By Product Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Sucrose (Common Sugar)
- Starch Sweeteners and Sugar Alcohols
- Dextrose
- High Fructose Corn Syrup (HFCS)
- Maltodextrin
- Sorbitol
- Xylitol
- Other Starch Sweeteners and Sugar Alcohols
- High-intensity Sweeteners (HIS)
- Sucralose
- Aspartame
- Saccharin
- Neotame
- Stevia
- Cyclamate
- Ascesulfame Potassium (Ace-K)
- Other High-intensity Sweeteners
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
-
- Bakery and Confectionery
- Dairy and Desserts
- Beverages
- Meat and Meat Products
- Soups, Sauces, and Dressings
- Other Applications
-
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Mexico
- Rest of North America
- Europe
- United Kingdom
- Germany
- France
- Spain
- Italy
- Russia
- Rest of Europe
- Asis-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Rest of Middle East and Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Food Sweetener Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Japan Food Sweetener Market Report - The Japanese food sweetener market is expected to register a CAGR of 3.55% during the forecast period (2023-2028).
- Brazil Food Sweetener Market Report - The Brazilian food sweetener market is expected to register a CAGR of 0.99% during the forecast period (2023-2028).
- China Food Sweetener Market Report - The Chinese food sweetener market is expected to register a CAGR of 1.01% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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