Sweetener Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Sweetener Market grew at a CAGR of 3.8% between 2017-2021 and is estimated to be US$ 84698.3 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 3.5% and is expected to reach a valuation of US$ 1,19,475.3 Mn by 2032 end.
The fast-food and bakery industries are expanding, which has helped the market for sweeteners see tremendous development in recent years. This expansion is fueled by customers’ constantly changing lifestyles and eating habits.
In addition to their sweet flavor, sweeteners are employed in bakery food products for their capacity to bulk up, structure, brown, aerate, fuel, and preserve the finished goods’ moisture, shelf life, and aesthetic appeal. The global push for healthier and more nutrient-dense foods has resulted in a rise in consumer health consciousness, partly responsible for the growth of honey and artificial sweeteners.
ChemView Consulting has analyzed that consumers have recently become more conscious of their nutritional needs thanks to new product introductions and greater knowledge of alternatives to traditional preventative healthcare. Therefore, customers become more aware of their health and choose to eat different food and beverage products better. A recent consumer trend is a demand for low-calorie, reduced-sugar, and all-natural & organic ingredient-based products because of their many health benefits and the increasing prevalence of chronic diseases due to unhealthy eating practices worldwide.
The sector with the biggest sales shares in 2021—more than 35.0%—was bakery and confectionery. In bakery and confectionery food products, sweeteners are primarily used as sweetening agents. They are also among the crucial ingredients used in baked culinary products. Sweeteners are employed in significant amounts in yeast-based and chemically leavened baked goods like cakes and cookies. In addition, they are employed as humectants, texturizers, bulking agents, coloring agents, and shelf-life extenders.
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Segments Covered in Report
- High-fructose Corn Syrup
- Polyol Sweeteners/Sugar Alcohols
- High-Intensity Sweeteners
- Acesulfame Potassium (Ace- K)
- Monk Fruit (Luo Han Guo)
- Bakery & Confectionery
- Dairy & Frozen Desserts
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Sweetener Market
- Based on the application, the sector with the biggest sales shares in 2021—more than 35.0%—was bakery and confectionery. In bakery and confectionery food products, sweeteners are primarily used as sweetening agents. They are also among the crucial ingredients used in baked culinary products. Sweeteners are employed in significant amounts in yeast-based and chemically leavened baked goods like cakes and cookies. In addition, they are employed as humectants, texturizers, bulking agents, coloring agents, and shelf-life extenders.
- Based on the form, in 2021, the solid form held the highest share—more than 70.0%. As most sweeteners are accessible in solid, crystalline, or powdered forms due to the feasibility and several functional advantages, such as ease of transportation, packaging, stability, and extensive uses afforded by solid sweeteners, the solid form is mostly concentrated on the global market.
- Based on the region, with a market share of more than 47.9%, Asia Pacific dominated. Due to the presence of some of the economies with the fastest development rates, like China and India, the region has significant growth potential for the food and beverage sector. Western diets have a substantial impact on the region’s younger population. It is anticipated that the demand for high-end beverages and confectionary items will increase imports of these sweeteners.
Key companies covered in the market study are Carl Kühne KG (GmbH & Co.), Castelo Alimentos S/A, Aspall Cyder Ltd, White house foods, Spectrum Organic Products, LLC, Higher Nature Limited., Vitane Pharmaceuticals, Inc., The Kraft Heinz Company, Bragg Live Food Products, Inc., Swanson Health Products, Inc., Solana Gold Organics, Amfac, Inc.(American Garden), Mautner Markhof Feinkost GmbH, GNC holdings inc
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have collaborated with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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