Sweeteners Market Overview
The global Sweeteners Market has been growing rapidly, mainly due to the increasing concerns associated with obesity and diabetes among the rapidly growing population. The burgeoning food and beverages industry is witnessing an augmenting demand for low-calorie food products. Moreover, consumer preference inclined towards adopting natural and plant-based food products is escalating the market, globally.
Acknowledging the exceeding growth, the market is witnessing at present, Market Research Future (MRFR) in its recently published study analysis asserts that the global Sweeteners Market Share is expected to demonstrate a voluminous growth by 2023, registering an impressive CAGR throughout the forecast period (2017-2023).
Sweeteners are food additives that are used to substitute sugar content in food products; hence, they are also referred to as sugar substitutes. Low in calories, sweeteners can provide a sweet taste like that of sugar. As a result, sweeteners find a wide range of application in the food and beverage industry including bakery and confectionery, dairy and frozen desserts, beverages, and others. Due to its low-calorie contents, sweeteners are also used as a healthy alternative to sugar.
Key players leading the Sweeteners Market include-
- Kerry Group PLC (Ireland)
- Archer Daniels Midland Company (US)
- Cargill Incorporated (US)
- Tate & Lyle plc (UK)
- DuPont Nutrition & Health (Denmark)
- Ajinomoto (Japan)
- Celanese Corporation (US)
Global Sweeteners Market – Regional Analysis
North America heading with its largest bakery and confectioneries market would retain its dominance over the global Sweeteners Market throughout the forecast period. Moreover, factors such as the high disposable income of consumers alongside the presence of major players and the new product launches by them are stimulating the sales of sweeteners in the North American countries. The US and Canada account for the key contributor to the market growth due to the presence of the prominent consumers of sweeteners.
The Sweeteners Market in the European region accounts for the second-largest market, globally. Factors such as the massive demand for processed foods and growing inclination towards usages of food additives are impacting the growth of the regional market, positively.
The Asia Pacific Sweeteners Market is estimated to emerge as a promising market, globally. The large production units in countries like China and India contribute to the growth of the regional market. Also, the market is observing substantial growth over the past few years due to the increasing sales of sweeteners in the region.
Sweeteners Market – Segmentation
Global Sweeteners Market is segmented by type, application, and regions
By Type : Natural (stevia, xylitol, erythritol) and Artificial (aspartame, sucralose, neotame, and others).
By Application : Bakery & Confectionery, Dairy & Frozen Desserts, and Beverages among others.
By Regions : Asia Pacific, North America, Europe, and Rest-of-the-World (RoW).
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