MARKET ANALYSIS
Sweeteners can be natural or artificial substitutes of sugar that provide the sweet taste to food and beverages. Such sweeteners have low or no calories and are used as an alternative to sugar. Sweeteners are mostly found in dairy products, bakery products, beverages, desserts, chewing gum & toothpaste, etc. With the changing lifestyles and dietary pattern of populaces, there is rise in healthy eating which has increased the demand for sweeteners as a food additive. The number of diabetic patients globally are increasing. Therefore, low-calorie or alternatives of sugar such as sweeteners are used for food products, thus fuelling the sweeteners market growth during the forecasted period.
GROWTH DRIVERS AND CHALLENGES
The increase in the consumption of natural sweeteners drives the global sweeteners market. The key players operating in the sweeteners market are diversifying their product portfolio based on consumers changing preferences, which seek a shift from sugar to sweeteners such as honey, stevia, xylitol, etc. Not only can additives affect the taste, but also the most crucial aspects like shelf life & appearance. Recent research, however, has revealed that synthetic chemicals negatively influence the body, including the cardiovascular and pulmonary systems. As a result, customers seek natural additives that will have a minimal influence on their health, and businesses offer natural additives that meet millennial demand.
Additionally, due to their sweet flavor and tooth-friendliness, sweeteners like polyol sweeteners and high-intensity sweeteners are frequently in demand. They are utilized in conventional pills and powdered medications. Although, the global sweeteners market is facing challenges due to the need for technological improvement.
REPORT SEGMENTATION AND SCOPE
The "Global Sweeteners Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global market trends and growth opportunities. The report aims to provide an overview of the global market with detailed market segmentation by type, application, and geography. The global sweeteners market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of sweeteners worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the sweeteners market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the sweeteners market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global sweeteners market, which helps understand the entire supply chain and various factors affecting the market growth.
SEGMENTAL ANALYSIS
The global sweeteners market is segmented on the basis of type and application. Based on type, the sweeteners market is bifurcated into natural and artificial. The sweeteners market is categorized on the basis of application into bakery and confectionery, dairy and frozen desserts, beverages, and others.
Sweeteners are divided into two categories in natural and artificial types. The majority of natural sweeteners come from various plant or animal sources. For instance, honey is a natural sweetener that bees create using blossom nectar. In contrast, artificial sweeteners are primarily created from synthetic substances during industrial processing. Although natural and artificial sweeteners have the same applications, they differ in their sensory, nutritional, and health aspects.
In the application of bakery and confectionery, low-calorie sweeteners are used. It has been shown to promote glycomic management, oral health, and calorie reduction, which are likely to increase demand for them in the baking and confectionery sectors throughout the projection period.
REGIONAL ANALYSIS
The report provides a detailed overview of the global sweeteners market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Asia Pacific held the largest market share. The region's fastest-growing economies with development rates, like China and India, has significant growth potential for the food and beverage sector. Western diets have a significant impact on the region's younger population. The demand for high-end beverages and confectionary items is anticipated to increase imports of these sweeteners.
One of the greatest manufacturers and consumers of sweeteners like sucrose are Asian markets including China and India. Supportive government attempts to expand the production of sucrose in these nations, and the high availability of raw materials needed for the manufacturing of sucrose, such as sugar cane, is anticipated to boost the Sweeteners market.
Because consumers are becoming more health conscious, several regional players offer low-calorie food and beverages. Additionally, the market in North America is expanding as people become more knowledgeable about sugar substitutes that have few or no calories. The demand for natural sweeteners is anticipated to increase in the region as consumers there are moving toward natural and organic products and consuming less packaged and heavily processed food; this is anticipated to fuel demand for natural sweeteners in North America.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Consumers' growing knowledge about health drives the demand for sweeteners worldwide. Also, industries are expanding due to consumers' growing preference for natural products. Thus, the worldwide use of sugar backups like xylitol, erythritol, and mannitol is rising snappily, owing to consumer awareness towards health, laws taking lower sugar input, and their addition in a variety of marketable health and heartiness food particulars opportunities in sweeteners market.
IMPACT OF COVID
After the outbreak of COVID-19, consumers have become more conscious and aware of their health and of food products that offer them health benefits. Also, mindfulness regarding the harmful effect of sugar on health is adding among consumers, and thus, people are more inclined towards low-calorie and low-sugar food products, which will drive the market. The manufacturers of sugar cover are following the morals set by the world health association( WHO) regarding the safety of the workers along with the way to manage the demand and supply of sweetener products. The extremity of COVID-19 is creating a new trend among people to demand zero sugar and low-sweet food products. The epidemic increased the demand for sugar backups like sugar alcohols and sugar sweeteners. Also, sugar tends to affect the neurotransmitters of the brain. Excessive input of sugars leads to health conditions like metabolic patterns and rotundity. Owing to these factors lead to an increase in the threat of health complications from COVID-19.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the sweeteners market include, Ajinomoto Co., Inc., ADM, Archer Daniels Midland Company , Cargill, Incorporated, Celanese Corporation, Ingredion, DuPont, Kerry, Tate & Lyle, Tereos, The NutraSweet Co., Wilmar International Ltd, and Zhucheng Haotian Pharm Co., Ltd. among others.