Coherent Market Insights

Food Sweetener Market To Be Valued at US$ 107,200.00 Mn By 2030

Food Sweetener Market To Be Valued at US$ 107,200.00 Mn By 2030 - Coherent Market Insights

Publish In: Oct 19, 2022

Food sweetener comes in two basic types. There are natural sweeteners and synthetic sweeteners. Naturally occurring sweeteners are nutritive, while synthetic sweeteners are flavorful and have no nutritional value. Natural sweeteners are commonly used in food and flavouring. While corn syrup and common sugar are associated with health concerns, natural sweeteners are a popular choice in baking and sauces. They are also used in wine and sauces to add flavor and texture. Sugar cane is another popular food sweetener. This brown, crystallized sugar contains more molasses and retains many minerals, making it a "moist" sweetener. However, this type may make some recipes too moist.

Market Statistics:

The global food sweeteners market is estimated to account for US$ 85,347.89Mn in terms of value by the end of 2021.

Global Food Sweeteners Market: Drivers

The market for food sweeteners is expected to grow at a moderate pace in the coming years. Regulatory changes and the increasing use of sugar substitutes in confectionery are expected to aid the growth of the industry. Furthermore, product innovations and rising demand for non-caloric sweeteners are expected to spur the market.

Global Food Sweeteners Market: Opportunities

Key players are focussing on introducing sweet protein that are derived from exotic fruits and evolved to provide sweetness without sugar. This segment hold potential growth opportunities for the market players. For instance, in 2020, Joywell Foods closed a USD 6.9 million funding round led by Kraft Heinz's investment arm Evolv Ventures, for the development of sweet protein, which could be used to enhance the flavor and sweetness of the product.

Global Food Sweeteners Market: Restraints

Negative impact of Covid-19 on the global economy has affected the R &D and innovation in the field of food sweetener. This in turn acting as a restraint to the market of food sweetener.

To know the latest trends and insights prevalent in The Global Food Sweeteners Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/food-sweetener-market-5289

Global Food Sweeteners Market 

The COVID-19 pandemic unleashed a series of events affecting the entire supply chain of the food and beverage industry. However, the demand from the consumer created a bullwhip effect on the food industry, including more convenient, shelf-stable, and processed products, thereby, sweetener industry kept its phase. Some major impacts on the market studied are impact of import restriction and supply chain disruption and its effect on price and impact of lockdown leading to demand of low-calorie food products

Key Takeaways:

The global food sweeteners market was valued at US$ 85,347.89 Mn in 2021 and is forecast to reach a value of US$ 107,200.00 Mn by 2030 at a CAGR of 2.47% between 2022 and 2030.

Sucrose (Common Sugar) segment held dominant position in the global food sweeteners market in 2021, accounting for 78.24% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Global Food Sweeteners Market Trends:

Growing popularity of natural rare sugar allulose among health conscious consumers is encouraging key manufacturer to expand production capacity of natural rare sugar allulose. For instance, in September 2019, Blue California expanded the commercialization of the natural rare sugar allulose. In January 2021, Tate & Lyle partnered with Codexis Inc.  to enhance  the  production  of  DOLCIA PRIMA® Allulose and TASTEVA® M Stevia Sweetener. Moreover, in December 2019, Ingredion Incorporated debuted ASTRAEA® Allulose in Mexico and across the Americas.

The growing demand for convenience and processed foods, such as sugar-based ready-to-drink beverages, ready-to-eat foods, snacks, and frozen meals, is one of the growing trend in the market. Rapid urbanization and increasing middle class population are some of the key factors contributing to the demand for convenience and processed foods.

Global Food Sweeteners Market: 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, and Foodchem International Corporation

Global Food Sweeteners Market: Recent Developments

  1. In February 2021, the merger of IFF and DuPont’s Nutrition & Biosciences (N&B) business was completed. The combined company could continue to operate under the name IFF. The combination of IFF and N&B covers the food and beverage, home and personal care, and health and wellness markets. The complementary portfolios give the company leadership positions within the taste, texture, scent, nutrition, enzymes, cultures, soy proteins, and probiotics.
  2. In May 2020, Ingredion EMEA  launched  its  first  polyol sweetener  -  ERYSTA  Erythritol  to  enable manufacturers to reduce or replace sugar to achieve nutrition-related claims, such as ‘no added sugar’ or ‘calorie-reduced’, in multiple applications.
  3. In April 2020, PureCircle announced that it would commence offering its proprietary NSF-02 stevia flavor solution directly to its customers.
  4. In April 2020, Ingredion Incorporated  and  PureCircle Limited  reached  an  agreement  on  the terms  for  Ingredion’s  acquisition  of  a controlling 75% stake in PureCircle.
  5. In December 2019, PureCircle introduced a new stevia ingredient called Sigma Syrup, which is an optimized blend of its next generation stevia leaf ingredients, including Reb M. The product is targeted at companies operating in the food and beverages domain.
  6. In November 2020, Ajinomoto Co., Inc. announced that will launch the stevia sweetener AJISWEET™ RA for manufacturers of beverages, confectioneries, and other products in the United States.

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