Press Release

Global Sweeteners Market to Hit USD 105.5 Billion in 2023 & Record 4.5% CAGR by 2030

The Global Sweeteners Market size was valued at USD 105.5 billion in 2023 and is projected to grow at a CAGR of around 4.5% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. The sweetener market is experiencing significant growth, extending beyond the food and drink sector to include personal care and pharmaceuticals.

In the realm of personal care products, sweeteners are essential ingredients in oral hygiene items like gum and cosmetics which offer a sugary taste without negative impacts on health. Xylitol, a type of sugar alcohol commonly found as an ingredient in toothpaste or mouthwash has become increasingly popular due to its ability to inhibit bacteria regrowth while promoting dental well-being.

Additionally, sweeteners play a critical role as additives in the pharmaceutical industry by enhancing the taste of medications, particularly those available in liquid or chewable forms. Pediatric medicines often incorporate sweeteners to counteract bitterness and improve patient compliance through better flavor. Popular options such as sucralose, aspartame, and saccharin are frequently used due to their favorable flavors and adherence to regulations.

Recognizing that sweeteners significantly contribute to consumer satisfaction and medication adherence is driving further growth within both personal care and pharmaceutical industries, further states the research report, “Global Sweeteners Market Analysis, 2024.”

Global Sweeteners Market Segmentation Analysis

Indirect Sales Channel (Hypermarkets/Supermarkets) to Positively Impact the Market Expansion

Based on the sales channel segment, the market is further bifurcated into Direct and Indirect. Indirect sales channel is further bifurcated into Hypermarkets/Supermarkets, Convenience Stores, Online, and Others. Due to their widespread accessibility, convenience, and large customer base, hypermarkets and supermarkets are anticipated to hold a considerable market share in the Global Sweeteners Market. These retail outlets offer an extensive range of sweetener choices that cater to different consumer tastes and dietary requirements.

Given the growing focus on health and wellbeing, people are actively seeking out alternatives, such as natural-based or low-calorie sugar substitutes over traditional sugars. Furthermore, both emerging and established sweetener brands have the opportunity to promote their products and interact with consumers through advertising activities and product exhibitions offered by hypermarkets and supermarkets.

North America Witnessing the Substantial Market Growth

The North America Sweeteners Market is experiencing significant growth due to multiple factors. The region benefits from a large population of health-conscious individuals who are becoming more aware of the negative effects that conventional sugars can have on their well-being, resulting in a consistently high demand for sweeteners. Additionally, North America's robust food and beverage industry tends to embrace advancements in low-calorie and sugar-free alternatives which further fuels this expansionary trend toward innovation-driven products within its space.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Tate & Lyle Plc, Cargill, Incorporated, ADM, International Flavors & Fragrances Inc., Ingredion Incorporated, Associated British Foods Plc, Givaudan, Firmenich Sa, Symrise, Südzucker Ag, Ajinomoto Co., Inc., Zydus Wellness, Tereos, Roquette Frères, Macandrews & Forbes Holdings Incorporated, Foodchem International Corporation, Jk Sucralose Inc. and Others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the Global Sweeteners Market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across the regions?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?