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Natural Sweeteners Market: Current Analysis and Forecast (2021-2027)

SKU ID : UMI-19274197 | Publishing Date : 07-Oct-2021 | No. of pages : 278

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Global natural sweeteners market was valued around $2.7 billion and is likely to showcase a growth rate of over 6% during the forecast. The increasing prevalence of obesity among individuals has been the major reason causing shift in preference of consumers towards natural sweeteners. For instance, as per WHO, in 2019, an estimated 38.2 million children under the age of 5 years were overweight or obese. Once considered a high-income country problem, overweight and obesity are now on the rise in low- and middle-income countries, particularly in urban settings. Similarly, in Africa, the number of overweight children under 5 has increased by nearly 24% percent since 2000. Almost half of the children under 5 who were overweight or obese in 2019 lived in Asia.
High fluctuation in the prices and supply of sugar is anticipated to propel the demand for Natural Sweeteners in the forthcoming years. For instance, in August 2021, price of sugar increased to USD 0.1995 per pound from USD 0.1100 per pound in 2018. Moreover, many companies are working on bringing new innovative products. For instance, in February 2019, Tata Chemicals launched a new brand called TataNx as the brand. The first product released is a 100% natural sweetener with lactose herb extract and sugar and stevia.
Furthermore, the prevalence of diabetes among population has also increased the awareness about natural sweeteners and has caused shift in preference. In 2019, a total of 463 million people were estimated to be living with diabetes, representing 9.3% of the global adult population (20–79 years). This number is expected to increase to 578 million (10.2%) in 2030 and 700 million (10.9%) in 2045. The prevalence of diabetes in women in 2019 was estimated to be 9.0%, and 9.6% in men. The increase of diabetes prevalence with age leads to a prevalence of 19.9% (111.2 million) in people aged 65–79 years.
Siemens, Thermo Fisher, LabCorp, Alere, Omega Laboratories, Roche, OraSure, Biomedical Diagnostics, Quest Diagnostics, Laboratory Corporation of America Holdings are some of the prominent players operating in the global Natural Sweeteners market. Several M&A’s along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst type, Sorbitol segment holds the major share”
Based on type, the global stevia, sorbitol, xylitol, mannitol, erythritol, sweet proteins, and other types. The Sorbitol segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period owing to its varied functional properties such as helping in maintaining shelf life, appearance, the texture of foods, offering medicinal qualities, and helping in retaining moisture.
“Amongst application, confectionary & gum is anticipated to grow at the highest CAGR during the analyzed period”
Further based on application, the market is fragmented into bakery products, confectioneries & gums, spreads, beverages, dairy products, frozen desserts, tabletop sweeteners, pharmaceutical products, and others. In 2020, confectionaries & gums accounted for a maximum revenue share and is expected to retain its position during the analyzed period owing to low cost, readily available, and easy use during processing.

“Amongst end-users, food & beverage segment is anticipated to grow at the highest CAGR during the analyzed period”
Based on end-users, the market is fragmented into food & beverages, pharmaceutical, direct sales, and others. In 2020, food & beverage segment accounted for the considerable market share and is likely to retain its position during the analyzed period owing to the growing demand from end consumers resulting in a shift among manufacturers for the choice of their ingredients in the food & beverage sector.
“North America signifies one of the largest markets of Natural Sweeteners Market”
For a better understanding of the market dynamics of the Natural Sweeteners market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World has been conducted. North America dominated the market in 2020 owing to the busy lifestyle of consumers, prevalence of chronic diseases due to their hectic lifestyles, and an increase in awareness among consumers regarding the health benefits of reduced sugar foods & beverages and other products.
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• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry
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