Natural Sweeteners Market Analysis by Type, End-use Sector, Application and Region

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.

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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.

By type, the stevia segment is projected to experience the fastest growth in the global market during the forecast period

The stevia segment is expected to experience the fastest growth in the global market, on the basis of type, in 2019. The sweet-tasting components of stevia are called steviol glycosides, which are naturally present in the stevia leaf. There are eleven major steviol glycosides present in stevia. These are the sweet components isolated and purified from the leaves of stevia. Out of these eleven steviol glycosides, stevioside and rebaudioside A are the most abundant steviol glycosides. China is one of the leading exporters of stevia products across the globe. Moreover, stevia sweeteners do not contribute carbohydrates or calories to the food and beverage it is added to. It also does not affect blood glucose or insulin response. Owing to this, people with diabetes can consume a wider variety of foods and comply with a healthy meal plan by substituting sugar with stevia. Also, stevia comprises several sterols and antioxidant compounds, including kaempferol. Kaempferol can reduce the risk of pancreatic cancer by 23%. Thus, with such widespread acceptability and availability of stevia, it is expected to substantially grow in the coming years as well.

By end-user, the food & beverage segment is projected to account for the fastest growing segment in the natural sweeteners market during the forecast period

The food & beverage segment accounted for the fastest growing segment in the global market, in 2019, in terms of value. Sugars are largely consumed to offer a sweetening taste in an array of food & beverage products. Owing to this, most of the consumption of natural sweeteners is also witnessed in the food & beverage industry. With the growing demand for newer products from the end-consumers, food & beverage manufacturers have been developing and innovating an array of products, including various natural sweeteners. In the coming few years, the food & beverage industry is projected to witness immense investments from key players worldwide. Thus, the manufacturers of the natural sweetener products mainly target their line of products to food & beverage sector players only.

By application, the beverage segment is projected to experience the fastest growth in the natural sweeteners market during the forecast period

The beverage segment accounted for a major share in the global market, in 2019, in terms of value. natural sweeteners are currently preferred in beverages, such as diet carbonated drinks, flavored water, and other beverages. Stevia is a key natural sweeteners used in beverages. It is a preferred natural sweeteners with reduced-calorie and zero glycemic indexes, which is used to produce numerous versions of energy drinks, soft drinks, ready-to-drink teas, flavored water, and fruit juices. Other natural sweeteners, such as erythritol and xylitol, are also preferred among key players in the beverage industry. Thus, the expansion of the consumer base for beverage products provides an incentive for developing new natural sweeteners and products, thereby driving the market growth during the forecast period.

Asia Pacific region is projected to witness a higher growth rate during the forecast period. The natural sweeteners industry in the Asia Pacific region is growing due to the change in the lifestyle of customers and the increase in health consciousness among consumers. The market in this region is witnessing a dramatic transformation regarding diet diversification, rapid urbanization, and liberal trade policies in the food sector. Furthermore, a rise in consumer awareness about health issues, an increase in inclination of consumers toward health-benefiting food products, and a surge in income and purchasing power are the major factors offering growth opportunities for natural sweeteners manufacturers in the market in the region. The fast-growing countries in the region are India and China due to the increase in urbanization, the rapid rise in household incomes, and the change in lifestyles of consumers in the country.

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Key Market Players:
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).

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