Food Sweetener Market is projected to reach USD 105 Billion by 2030, growing at a CAGR of 2.6%: Straits Research

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New York, United States, June 08, 2022 (GLOBE NEWSWIRE) — Components that increase sweetness have a long history of use. In today’s highly dynamic environment, where customers anticipate many features from their products, the food sector has taken a step forward by delivering sweetener ingredients from various sources with diverse capabilities. Due to urbanization and rising income, the market is being propelled by the rising need for natural, non-caloric sweeteners and strong demand from emerging nations. The market for clean-label sweeteners in emerging countries is driven by a shift in consumer preferences for convenience, fueled by urbanization, a growing working-women population, and rising family incomes.

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A Shift toward Convenience and Processed Food Consumption to Drive the Global Food Sweetener Market
Major factors driving the expansion of the global food sweetener market are the rising demand for convenience and processed goods, such as sweet/sugar-based ready-to-eat foods, ready-to-drink beverages, snacks, and frozen dinners. The developed and developing nations are witnessing a rise in demand for processed and packaged food, which may spike the demand for food packaging and sugar processing solutions, boosting the need for high-fructose corn syrup in beverage and food applications worldwide.
HFCS helps keep foods fresh, reduces the freezing point, supports moisture in bran cereals and breakfast bars, enhances fruit and spice flavors, promotes surface browning, and provides fermentability and sweetening qualities. Overall, the enormous demand for food has prompted the entire value chain to open up worldwide markets for HFCS and new introductions from international businesses.

Stevia-Based Antioxidant Food and Beverages to Open New Market Opportunities

Pure Circle, the world’s biggest producer of Stevia, has introduced a stevia antioxidant component suitable for health and wellness food products. The business has created a novel extraction and purification procedure for the stevia antioxidant component. Due to the new stevia antioxidant, consumers can select from a variety of plant-based stevia compounds, which will expand the company’s range beyond taste modifiers and sweeteners.
Many other major stevia businesses are concentrating their efforts on research and development to improve the efficiency of generating stevia-based food and beverage ingredients, including antioxidants, fibers, and protein which provide lucrative opportunities for the global food sweetener market. 

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Regional Insights
Asia-Pacific holds the most dominant position in the regional market. It is estimated to reach a value of USD 44,545 million by 2030 at a CAGR of 2.6%. The consumption of sweeteners is rising rapidly in China due to the increasing demand for sugar-enriched food and beverage products. Moreover, with the growing importance of sweeteners in the country, players are focusing more on research and development to develop new sweeteners, which would drive the growth of the sweetener market in the country.
South America is the fastest-growing region. It is estimated to grow at a CAGR of 4%. Artificial sweeteners demand in Brazil will continue to grow in the coming years, driven by consumer desire for low-calorie products and lucrative growth in Brazil’s beverages market. 
Europe is the second-largest regional market. It is estimated to reach a predicted grow at a CAGR of 1.5%. In Germany, the sugar substitute is used commercially in baked goods, beverages, candies, canned and packaged foods, condiments, jams, yogurts, and other sweetened foods. Furthermore, HFCS is a prominent additive in German baked goods for surface browning, moisture, structure, and texture, in beverages for body and flavor, in bread, jams, jellies as a preservative, and other foodstuffs to stabilize emulsions and enhance flavor. Therefore, key players are expanding and investing in the manufacturing of sweeteners, which propels market growth.

Key Highlights

  • The global food sweetener market was worth USD 85.5 billion in 2021, and it is projected to reach USD 105 billion by 2030, registering a CAGR of 2.6% during the forecast period (2022–2030). 
  • By product type, the global food sweetener market is segmented into Sucrose (Common Sugar), Starch Sweeteners and Sugar Alcohols, and High-Intensity Sweeteners (HIS). Sucrose holds the largest market share. It is estimated to grow at a CAGR of 1.5%.
  • Starch Sweeteners and Sugar Alcohols are further classified into Dextrose, High Fructose Corn Syrup (HFCS), Maltodextrin, Sorbitol, Xylitol, and Other Starch Sweeteners and Sugar Alcohols. High Fructose Corn Syrup is the most dominant sub-segment. It is estimated to grow at a CAGR of 1.4%. The market players are raising more research and development for product innovation to maintain the glucose and fructose level.
  • High-Intensity Sweetener (HIS) is further classified into Sucralose, Aspartame, Saccharin, Neotame, Stevia, Cyclamate, Acesulfame Potassium (Ace-K), and Other High-Intensity Sweeteners. Sucralose held the highest individual market share within the high-intensity sweetener (HIS) segment. It is estimated to reach a value of USD 560 million by 2030. Declining generation and increasing prices of sugar on a global level are expected to promote the usage of high-intensity artificial sweeteners such as sucralose.
  • By application, the global food sweetener market is segmented as Bakery and Confectionery, Dairy and Desserts, Beverages, Meat and Meat Products, Soups, Sauces and Dressings, and Other Applications. The beverage segment holds the largest share of the market. It is estimated to grow at a CAGR of 1.5%. With the increasing demand for transparency and naturally sourced ingredients, the demand for Stevia as an ideal sweetener in beverages has increased rapidly in recent years. 
  • By region, the global food sweetener market is segmented into North America, Asia Pacific, Europe, South America, and the Middle East and Africa. South America is the fastest-growing region.

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Competitive Landscape

  • Tate & Lyle PLC
  • Cargill Incorporated
  • Archer Daniels Midland Company
  • DuPont de Nemours. Inc.
  • Ingredion Incorporated
  • Ajinomoto Co. Inc.
  • S&W Seed Company
  • Manus Bio Inc. (NutraSweet)
  • GLG Life Tech Corporation
  • Tereos SA
  • Celanese Corporation
  • Foodchem International Corporation

 
Global Food Sweetener Market: Segmentation

By Product Type

  • 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
  • Acesulfame Potassium (Ace-K)
  • Other High-Intensity Sweeteners

By Application

  • Bakery and Confectionery
  • Dairy and Desserts
  • Beverages
  • Meat and Meat Products
  • Soups, Sauces, and Dressings
  • Other Applications

By Regions

  • North America
  • Asia-pacific 
  • Europe
  • South America
  • The Middle East and Africa

TABLE OF CONTENT

1          Introduction
1.1      Market Definition
1.2      Market Scope

2          Research Methodology
2.1      Primary Research
2.2      Research Methodology
2.3      Assumptions & Exclusions
2.4      Secondary Data Sources

3          Executive Summary

4          Market Overview
4.1      Report Segmentation & Scope
4.2      Value Chain Analysis: Food Sweetener Market
4.2.1  Vendor Matrix
4.3      Key Market Trends
4.3.1  Drivers
4.3.2  Restraints
4.3.3  Opportunities
4.4      Porter’s Five Forces Analysis
4.4.1  Bargaining Power of Suppliers
4.4.2  Bargaining Power of Buyers
4.4.3  Threat of Substitution
4.4.4  Threat of New Entrants
4.4.5  Competitive Rivalry
4.5      Environment & Regulatory Landscape
4.6      Forecast Factors & Relevance of Impact
4.7      Macro-Economic & Geopolitical Scenario
4.8      Parent Market Overview
4.9      Technology Landscape
4.10   Market Share Analysis
4.11   Potential Venture Analysis
4.12   Regional Price Trends
4.13   Raw Material Trends
4.14   Cost Structure Analysis
4.14.1            Labor Cost
4.14.2            Consumables
4.14.3            Maintenance Cost
4.15   Covid-19 Impact Analysis:
4.15.1            Pre and Post Covid-19 Market Scenario Analysis
4.15.2            Market Recovery Timeline and Challenge
4.15.3            Measures Taken by Top Players
4.15.4            Quarterly Market Revenue and Growth Forecast till 2021
4.15.4.1        North America
4.15.4.2        Europe
4.15.4.3        Asia-Pacific
4.15.4.4        Central and South America and the Caribbean
4.15.4.5        The Middle East and Africa

5               Product Type Overview
5.1      Introduction
5.1.1  Market Size & Forecast (Value & Volume)
5.2      Sucrose (Common Sugar)
5.2.1  Market Size & Forecast (Value & Volume)
5.3      Starch Sweeteners and Sugar Alcohols
5.3.1  Market Size & Forecast (Value & Volume)
5.4      High-Intensity Sweeteners (HIS)
5.4.1  Market Size & Forecast (Value & Volume)

6               Application Overview
6.1      Introduction
6.1.1  Market Size & Forecast (Value & Volume)
6.2      Bakery and Confectionery
6.2.1  Market Size & Forecast (Value & Volume)
6.3      Dairy and Desserts
6.3.1  Market Size & Forecast (Value & Volume)
6.4      Beverages
6.4.1  Market Size & Forecast (Value & Volume)
6.5      Meat and Meat Products
6.5.1  Market Size & Forecast (Value & Volume)
6.6      Soups, Sauces, and Dressings
6.6.1  Market Size & Forecast (Value & Volume)

7             Regional Overview
7.1      Introduction
7.1.1  Market Size & Forecast (Value & Volume)
7.2      North America
7.2.1  Economic Overview
7.2.2  Market Scenario
7.2.3  U.S.
7.2.4  Canada
7.2.5  Mexico
7.3      Central and South America and the Caribbean
7.3.1  Economic Overview
7.3.2  Market Scenario
7.3.3  Brazil
7.3.4  Argentina
7.3.5  Colombia
7.3.6  Rest of Central and South America and the Caribbean
7.4      Europe
7.4.1  Economic Overview
7.4.2  Market Scenario
7.4.3  Germany
7.4.4  France
7.4.5  The U.K.
7.4.6  Italy
7.4.7  The Rest Of Europe
7.5      Asia-Pacific (APAC)
7.5.1  Economic Overview
7.5.2  Market Scenario
7.5.3  China
7.5.4  Japan
7.5.5  India
7.5.6  Australia
7.5.7  South Korea
7.5.8  Rest Of APAC
7.6      Middle East
7.6.1  Economic Overview
7.6.2  Market Scenario
7.6.3  South Arabia
7.6.4  The UAE
7.6.5  Qatar
7.6.6  Oman
7.6.7  Turkey
7.6.8  The Rest Of Middle East
7.7      Africa
7.7.1  Economic Overview
7.7.2  Market Scenario
7.7.3  Nigeria
7.7.4  South Africa
7.7.5  The Rest Of Africa

8          Competitive Landscape — Manufacturers & Suppliers
8.1      Competition Dashboard
8.2      Industry Structure
8.3      Tate & Lyle PLC
8.3.1  Business Overview
8.3.2  Financial Performance
8.3.3  Recent Developments
8.3.4  Portfolio
8.4      Cargill Incorporated
8.5      Archer Daniels Midland Company
8.6      DuPont de Nemours. Inc.
8.7      Ingredion Incorporated
8.8      Ajinomoto Co. Inc.
8.9      S&W Seed Company
8.10   Manus Bio Inc. (NutraSweet)
8.11   GLG Life Tech Corporation
8.12   Tereos SA
8.13   Celanese Corporation
8.14   Foodchem International Corporation

9          Conclusion & Recommendation

10       Acronyms & Abbreviations

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Market News

  • In March 2022, Cargill, the global food and agriculture company, agreed to purchase 24.5% of the shares of Salmones Multi export S.A., the subsidiary of Multi export Foods S.A. In turn, Mitsui, a shareholder of Multi X since 2015, increased its shareholding by 1.13% to 24.5%. Multi export Foods S.A. handles control of Multi X with 51% of the total shares. The transaction is subject to certain regulatory approvals, and the fulfillment of conditions agreed by the firms.
  • In February 2022, Celanese Corporation, a global chemical and specialty materials company, released the signing of a definitive contract to acquire a majority1 of the Mobility & Materials (“M&M”) business of DuPont for USD 11 billion in cash. 

News Media

All You Need to Know About Stevia

 Rising Health Consciousness to Drive Aspartame Market Growth

Stevia- The Low-Calorie Natural Sweetener

Approvals Encouraging the Novel Formulations of High-Intensity Sweeteners

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