Selbyville, Delaware, Dec. 01, 2022 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the Global Natural Sweeteners Market was estimated at USD 10.5 billion in 2022 and is expected to surpass a valuation of $15.5 billion by 2032, progressing at a CAGR of 4% from 2023 to 2032. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets.
Rising health consciousness among young adults and the booming beverage business as the chief drivers of the natural sweeteners industry. The burgeoning awareness regarding the health benefits of utilizing natural sweeteners has encouraged beverage manufacturers to offer low-calorie sugar substitutes to meet the rising demand for ready-to-drink energy beverages.
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Health benefits associated with raw honey to shape industry outlook
With respect to products, the study classifies the natural sweeteners market into agave, stevia, raw honey, monk fruit, xylitol, and others. The raw honey natural sweeteners segment is speculated to depict over 3% CAGR from 2023 to 2032. The growing consumer inclination toward naturally sourced sugar in baked, functional, or dietary products is fueling the demand for raw honey sweeteners. Moreover, the increasing uptake of nutritious and healthy products is accelerating raw honey segment growth as it aids in controlling cholesterol levels, improves gut health, and is a quick source of energy.
Key reasons for natural sweeteners market growth:
- Rising concerns for weight gain to promote the usage of low-calorie food products
- Rapid demand from the bakery industry
- Growth in the beverage industry may fuel natural sweeteners demand
Shifting snacking preferences to augment bakery segment revenues
Deployment of natural sweeteners in bakery products is set to remain high through the forecast years. Natural sweeteners industry size from the bakery application segment is primed to grow at over 4% CAGR between 2023 and 2032. The recent shift in snacking preference, along with soaring demand for aesthetic foods, such as cookies, croissants, and cupcakes, is pushing product adoption in bakeries across the world. The segment growth is further driven by the mounting demand for ready-to-eat food with adequate nutritional value.
Rising demand for plant-based food products to favor LATAM industry expansion
Latin America natural sweeteners market is poised to showcase more than 4% CAGR over the next ten years. The region may emerge as a major hub for this industry owing to the high prevalence of obesity, diabetes, and chronic diseases, which has boosted the consumption of food with a reduced amount of sugar, salt, calorie, fats, and others. Additionally, burgeoning uptake of plant-based products and botanical food products, thereby fueling the need for agave syrup, monk syrup, or sweeteners in the LATAM region.
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New product launches to remain a major growth strategy
Strategic landscape of the natural sweeteners market is anticipated to witness a series of R&D initiatives, investments toward diversification of product portfolio, acquisitions, and collaborations with food & beverage firms. For instance, in July 2022, Sweegen, a U.S.-based sweetener producer, launched Bestevia LQ, a liquid-based stevia sweetener at the IFT FIRST meeting to overcome solubility challenges and increase liquid stability. Some key market players profiled in the report include Tate & Tyle Plc, Morita Kagaku Kogyo, GLG Life Tech Corp, Sunwin Stevia International, Inc., Madhava Natural Sweeteners, Malt Products Corporation, and Beijing Ginko Group, among others.
Partial chapters of report table of contents (TOC):
Chapter 3 Natural Sweeteners Market Industry Insights
3.1 Industry segmentation
3.2 COVID-19 overview on world economy
3.3 Industry ecosystem analysis
3.3.1 Raw Material Suppliers
3.3.2 Manufacturers
3.3.3 Suppliers
3.3.4 Distribution channel analysis
3.3.4.1 Technology Providers
3.3.5 Vendor matrix
3.4 Raw material analysis - COVID-19 impact on supply
3.5 Regulatory Landscape
3.5.1 U.S.
3.5.1.1 FDA permissions for high-intensity sweeteners
3.5.2 Europe
3.5.2.1 COMMISSION REGULATION (EU) 2016/1814
3.5.3 India
3.5.3.1 FSSAI Advisory on Standards for Honey and prohibition of antibiotics
3.6 Technology landscape
3.7 Pricing analysis
3.7.1 Regional pricing
3.7.1.1 North America
3.7.1.2 Europe
3.7.1.3 Asia Pacific
3.7.1.4 Latin America
3.7.1.5 Middle East & Africa
3.7.2 COVID-19 Impact on pricing
3.7.3 Cost structure analysis
3.7.3.1 Component/material cost
3.7.3.2 Manufacturing & labor cost
3.7.3.3 Technology/equipment cost
3.7.3.4 Others
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.1.1 North America:
3.8.1.1.1 Rising concerns for weight gain to promote the usage of low-calorie food products
3.8.1.1.2 Rapid demand from bakery industry
3.8.1.1.3 Growth in beverage industry may fuel natural sweeteners demand
3.8.1.2 Europe:
3.8.1.2.1 Increasing usage in dietary supplements
3.8.1.2.2 Increasing demand for plant-based sweeteners
3.8.1.3 Asia Pacific: Growing awareness toward a healthier lifestyle
3.8.2 Industry pitfalls & challenges:
3.8.2.1 Availability of several artificial sweeteners
3.8.2.2 Taste alteration
3.9 Innovation & sustainability
3.10 Growth potential analysis, 2019
3.10.1 Emerging business model
3.10.1.1 Acquisitions
3.10.1.2 New product launch
3.11 Porter’s analysis
3.11.1 Bargaining power of suppliers
3.11.2 Bargaining power of buyers
3.11.3 Threat of new entrants
3.11.4 Threat of substitutes
3.12 PESTEL analysis
3.13 COVID-19 impact on natural sweeteners market, by application
3.13.1 Sport Supplements
3.13.2 Bakery
3.13.3 Confectionery
3.13.4 Dairy
3.13.5 Frozen Desserts
3.13.6 Beverages
Chapter 4 Competitive Landscape, 2021
4.1 Introduction
4.2 Company market share analysis by region, 2021
4.3 Competitive analysis of major market players
4.4 Vendor adoption matrix
4.5 Strategic outlook matrix
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
