Sweetener: Key market research findings
- The Americas dominate the market geographically
- Rising demand for stevia
- Key vendors—Cargill, Cumberland Packing, Ingredion, Roquette, and Tate & Lyle
Technavio’s market research analysts predict the global sweetener market to grow at a CAGR of almost 5% between 2016 and 2020. The demand for low-calorie, intense sweeteners is the primary driver for the market. Growing concerns about excessive intake of sugar, especially in developed regions, has led to increased demand for sugar-free products and low-calorie diets. In 2015, the Americas occupied around 40% of the market space to dominate the global sweetener market. The market is thriving in this region as the Americas is the leading producer and consumer in the sweetener market owing to increased demand for convenience food, functional food, and alternative sugar sources. The increase in the incidence of obesity is likely to propel growth in the sweetener market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the sweetener segments by type.
“The demand for naturally-derived sweeteners is the latest trend in the market. The widespread availability of products like rare sugars, stevia, monk fruit, and sweet proteins is likely to propel growth in the naturally derived sweeteners segment in the coming years. Demand for stevia sweeteners by different consumer segments is encouraging food and beverage manufacturers to launch new products containing stevia. For instance, in 2013, Coca-Cola launched products such as Lilt and Lilt Zero, sparkling drinks that have low sugar content, and a zero-calorie stevia-based Sprite to expand its consumer base,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research.
In 2015, the natural sweetener segment dominated the global sweetener market by accounting for almost 88% of the overall market share. The natural sweetener segment comprises of sugar and high-fructose corn syrup (HCFS). The relatively inexpensive nature of these sweeteners is likely to boost demand and thereby, contribute to the growth of the global natural sweetener market. The increasing popularity of stevia is also likely to reflect positively on this segment by 2020.
The key vendors in the global sweetener market include Cargill, Cumberland Packing, Ingredion, Roquette, and Tate & Lyle. The shift towards healthier diets and lifestyles has spurred the market for low-calorie sweeteners globally. Consumers have become more cautious about the ingredients in the food and beverages they consume. Hence, there is an increasing demand for healthier alternatives. This demand has encouraged many new and existing vendors in the sweeteners market, who offer a wide choice of products and value-added offerings, thus uplifting the competition bar in the market.
A more detailed analysis is available in the Technavio report, Global Sweetener Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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