Pune, India, Dec. 15, 2023 (GLOBE NEWSWIRE) — The global natural sweeteners market size was USD 23.32 billion in 2022 and is set to increase from USD 24.48 billion in 2023 to USD 37.14 billion by 2030 at a CAGR of 6.13% during 2023-2030.
The growing consumption of low-calorie food products among individuals is driving the demand for natural sweeteners. Sweeteners are derived from natural sources, including stevia leaves, honey bees, dates, fruits and vegetables, and others. Furthermore, their increasing demand is anticipated to propel the market during the projected period.
Fortune Business Insights™ shares this information in its report titled “Natural Sweeteners Market, 2023-2030.”
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Leading Players Featured in the Natural Sweeteners Market Research Report:
- Tate & Lyle PLC (U.K.)
- Ingredion Incorporated (U.S.)
- Pure Circle Ltd. (Malaysia)
- Sweetly Stevia USA (U.S.)
- Fooditive B.V. (Netherlands)
- The Real Stevia Company (Sweden)
- Stevia Biotech Pvt. Ltd. (India)
- DuPont (U.S.)
- Cargill Inc. (U.S.)
- GLG Life Tech Corporation (Canada)
Report Scope & Segmentation:
| Report Attribute | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 6.13 % |
| 2030 Value Projection | USD 37.14 Billion |
| Natural Sweeteners Market Size in 2023 | USD 24.48 Billion |
| Historical Data | 2017-2021 |
| No. of Pages | 180 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
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| Natural Sweeteners Market Drivers | Immunity Boosting Properties of Natural Sweeteners to Support Market Growth |
| Imposition of Sugar Tax in Several Countries to Support the Growth of Natural Sweeteners Market Share |
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Segmentation
Growing Usage of Honey for Baking Propels the Honey Segment’s Expansion
By type, the market is divided into honey, molasses, date palm, stevia, sugar alcohol, and others. The honey segment holds the largest natural sweeteners market share. Growing usage of honey for baking and other processed food and beverage production due to its chemical properties and flavor is driving segment growth.
Increasing Product Demand from Confectionary and Snack Manufacturers Augments the Food and Beverage Segment Growth
In terms of application, the market is categorized into food and beverage, which includes bakery, confectionery, beverages, and others, pharmaceuticals, and personal care and cosmetics. The food and beverage segment commands the global natural sweeteners market due to increased natural sweetener adoption for beverage production. The growing usage of sweeteners in the bakery industry for making cookies, pies, cakes, and similar bakery products also boosts segment expansion.
Honey, dates, and other products are enhancing the flavor of bakery products. Increasing demand for such sweeteners from confectionary and snack manufacturers is also fostering segment growth.
Geographically, the market is studied across North America, South America, Europe, the Middle East & Africa, and Asia Pacific.
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Report Coverage
The report provides a detailed analysis of top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
Drivers and Restraints
Growing Consumption of ‘Better-for-you’ Products due to their Health-benefiting Properties to Foster Market Growth
Increasing preference for honey, molasses, and dates and growing consumption of newly developed products are the key factors boosting market growth. Stevia is enriched with vitamins, minerals, and other compounds and is gaining popularity due to its health-boosting properties. Increasing usage of such natural products by consumers with diabetes and other health ailments along with increasing investments by key market players for enhancing the sweetener production of plants and the infrastructure supports market expansion.
Market growth is attributed to the growing consumption of ‘better-for-you’ products due to their health-benefiting properties and the huge demand for organic food products. Increasing demand for natural sweeteners as a suitable alternative for health-conscious consumers and vegan and keto diet followers also supports market growth.
However, the adulteration of honey, molasses, and other products is hampering market expansion.
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COVID-19 Impact:
Shortage of Raw Materials Amid Pandemic Restrained Market Growth
The COVID-19 outbreak adversely affected the natural sweeteners market growth owing to the Shortage of raw materials and delayed production activities due to movement restrictions. Moreover, reduced production of honey, molasses, date palms, and stevia hampered market expansion.
Regional Insights
Increasing Demand for Honey, Molasses, and Dates Propelled Market Growth in Asia Pacific
Asia Pacific was valued at USD 7.48 billion in 2022. Increasing demand for honey, molasses, and dates due to their medicinal properties drives market growth. The growing usage of such products by many food manufacturers also propels market expansion.
Europe’s market growth is attributed to an increase in sugar taxes on carbonated soft drinks, sweetened milk, juice, and other products by several European countries. Growing preference for natural products by food-producing companies drives market growth in the region.
Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Overview of the Parent/Related Markets
- Supply Chain Analysis
- Regulatory Analysis
- Recent Industry Developments – Mergers & Acquisitions, Partnerships, & New Product Launches
- Qualitative Analysis Related to COVID-19
- Impact of COVID-19 on the Market
- Supply Chain Challenges amidst Pandemic
- Potential Opportunities due to this Global Crisis
- Global Natural Sweeteners Market Analysis, Insights and Forecast, 2017-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Honey
- Molasses
- Date Palm
- Sugar Alcohol
- Xylitol
- Mannitol
- Sorbitol
- Maltitol
- Stevia
- Others
- By Application
- Food and Beverages
- Bakery
- Confectionary
- Beverages
- Others
- Pharmaceuticals
- Personal Care and Cosmetics
- Food and Beverages
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type
TOC Continued…!
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Competitive Landscape
Key companies Focus on Collaborations to Improve the Appearance and Flavor of Products
Tate and Lyle PLC, Ingredion Incorporated, and Pure Circle Ltd. are some of the major companies in the market. Increasing production of healthy food items by food and beverage manufacturers is boosting the adoption of natural products. Key market participants are focusing on collaborations with food and beverage producers to improve the appearance and flavor of products.
Key Industry Development
- May 2021: Amyris, Inc. agreed with Ingredion Incorporated to increase its production capacities and make a mark as a top supplier of natural sweeteners in the food and beverage industry
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Sugar Substitutes Market Size to Worth USD 12.86 Billion by 2029 | At a CAGR of 7.20%
Honey Market Size to Worth USD 12.69 Billion by 2029 | At a CAGR of 5.83%
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