According to MarketsandMarkets, the global natural sweeteners market size is estimated to be valued at USD 2.8 billion in 2020 and projected to reach USD 3.8 billion by 2025, recording a CAGR of 6.1% during the forecast period.
The global natural sweeteners industry has witnessed growing trends in the past years. The growth of this industry is majorly driven by increase in health consciousness among consumers to encourage the demand for healthier food choices, increase in demand for natural sweeteners due to the rise in consumer inclination toward natural products, and growing demand for sugar alternatives in various applications in the food & beverage industry.
Other factors driving the demand for these natural sweeteners include the growing applications of sweeteners, specially in food & beverage industry in developing and underdeveloped countries, owing to its low-calorie and naturally sweetening properties. However, the growth of the natural sweeteners market is inhibited by factors, such as ambiguity related to health problems caused due to over consumption of natural sweeteners.
COVID-19 Analysis:
The global natural sweeteners market is impacted highly due to the uncertain pandemic circumstances that occurred across the globe. The effects of COVID-19 impact the supply chain of the final products, as well as raw material ingredients. The North American region, followed by the Europe and Asia Pacific region, plays a vital role in the natural sweeteners market due to the concentration of several key players operating from these regions. Hence, the market in terms of supply is projected to witness hindrances, as natural sweeteners produced by many key players in these regions cater to the end-users across the world. However, regional consumption is projected to witness a surge in the respective market itself, as consumers are increasingly concentrating on maintaining weight and following different diets for maintaining good health. This, altogether, is projected to drive the demand for natural sweeteners.
Researchers are coming with new ranges of natural sweetener products to meet the growing need of consumers for health-promoting products. For instance, monk fruit sweeteners are introduced by the major players in the food & beverage industry, owing to its numerous health benefits and higher safety levels.
ADM provides three ranges of monk fruit sweeteners under the brand name SweetRight. ADM launched these monk fruit sweeteners in 2017 through its partnership with GLG Life Tech Corporation (Canada). Monk fruit sweetener is extracted from monk fruit. The monk fruit is also known as luo han guo or “Buddha fruit.” Monk fruit sweeteners are 150-200 times sweeter than sugar and provide sweetness to food and beverage products without adding calories. Monk fruit sweeteners have numerous food and beverage applications, including juices, soft drinks, dairy products, candies, desserts, and condiments. Monk fruits are stable at high temperatures, owing to which they can be used in baked goods.
The successful research and developments in the sweetener market for the production of safer and better products to cater to the increasing demand of consumers for safe, health-benefiting products would create a huge growth opportunity for the sweeteners market, and, in turn, for the natural sweetener market, in the coming years.
Key players are DuPont (US), ADM (US), Tate & Lyle PLC (UK), Cargill (US), Ingredion Incorporated (US), Roquette Frères (France), FoodChem International Corporation (China), PureCircle Ltd (US), MacAndrews & Forbes Holdings Inc (Merisant) (US), Ecogreen Oleochemicals Pvt Ltd (Indonesia), Pyure Brands LLC (US), Stevia Hub India (India), Suminter India Organics (India), Stevia Biotech Pvt Ltd (India), The Real Stevia Company (Sweden), Sweetly Stevia USA (UK), XiliNat (Mexico), Fooditive B.V. (Netherlands), Saganà Association (Switzerland), and Hearthside Food Solutions LLC (US).
