Food manufacturers increasingly use sweeteners to mimic sugar flavours in products consumers love without the calories. This integration of sweeteners reflects consumers' increasing desire for health options.
Growing consumer awareness of health hazards related to excessive sugar intake has driven the demand for zero and low-calorie sweeteners. The adoption of sweeteners n by the middle class in developing countries has also expanded, reflecting the global impacts of changing consumer dietary preferences.
However, as health knowledgeability has increased and changed, so has the perception of sweeteners, with consumers becoming more knowledgeable about which sweeteners benefit their health and where others are considered less healthy or even damaging to their health.
Consequently, consumers prefer natural sweeteners aligned with clean-labelling trends, with options such as monk fruit and stevia gaining popularity.
The sweetener market is poised to reach a valuation of US$ 164.41 billion by 2033, with an estimated CAGR of 3.7 percent from 2023 to 2033. In 2022, the market was projected to be US$ 109.4 billion, expected to reach US$ 113.77 billion by the end of 2023.
Its versatility of application contributes to the growth of the overall sweeteners market. They are not limited to the food industry; they are increasingly used in personal care, pharmaceutical, and nutritional supplement industries.
Governments worldwide impose sugar levies and restrictions, compelling food and beverage manufacturers to use sweeteners to lower sugar content and meet regulations. However, one hoop manufacturers and businesses will need to jump consumers' wariness about artificial sweeteners' safety and potential health risks, requiring thorough safety evaluations and consumer education initiatives.
Varying rules and specifications for sweeteners across nations also pose challenges for multinational companies regarding compliance and product reformulation.
The aging population emphasises health and well-being, leading to the use of sweeteners in products for older individuals in China, with a CAGR of 2.3 percent anticipated over the next decade. The high prevalence of diabetes has also driven the use of sweeteners as sugar substitutes in products targeted at people with the disease in the UK, with a CAGR of 4.6 percent anticipated over the next decade.
The sweetener market is highly fragmented, with several businesses providing solutions to various sectors, such as pharmaceuticals, food and beverages, and personal care.
Major corporations are focusing on launching plant-based natural sweeteners to meet consumer demands. The demand for healthier alternatives drives the sweetener market, with key trends such as clean labelling and broad applications. Government initiatives to reduce sugar intake and challenges related to consumer scepticism and diverse regulations influence the market dynamics.
