Natural And Artificial Sweetener Market Growth Is Attributed To The Increasing Demand For Dairy

According to Precision Business Insights (PBI), the latest report, the natural and artificial sweetener market is expected to be worth USD 25.1 billion in 2022, growing at a 2.3% CAGR from 2022 to 2028. The global natural and artificial sweetener market is segmented into the following types: By Type (Artificial Sweetener (Sucralose, Aspartame, Acesulfame Potassium, Saccharin, Neotame, Others), Natural Sweetener (Coconut Sugar, Stevia, Maple Syrup, Honey, Others)), By Application (Natural Sweetener (Dairy, Beverages, Confectionery and Bakery, Processed Food, Others), Artificial Sweetener (Dairy, Beverages, Confectionery And Bakery, Processed Food, Others)), and Geography (North America, Europe, Asia Pacific, Latin America, and MEA) Forecast to 2028. Key players' profiles in the natural and artificial sweetener market report are B&G Foods Inc., Ajinomoto Co, Inc., Cumberland Packing Corp., Merisant Company, HYET Sweet, Roquette Frères, ADM, JK Sucralose Inc., Ingredion Incorporated, Tate & Lyle, Amyris, Lantic Inc., and PureCircle. Artificial sweeteners are widely utilized in dairy products, bread goods, drinks, candies, and other foods to make them taste good and healthier. By 2027, the beverage application segment will likely dominate the market for artificial sweeteners. Regular sugar is gradually being replaced by artificial sugar substitutes in the beverage industry, mainly soft drinks. Leading beverage companies are switching from sugar-to-sugar replacements because they can be used in smaller amounts without compromising the product's flavor and appearance, which results in significant cost savings. Furthermore, consumers concerned about their health are now looking for better alternatives to refined sugar. The high daily consumption of refined sugar significantly contributes to many serious ailments, including diabetes, obesity, high blood pressure, and heart disease. The market for natural sweeteners is being driven by consumers' growing knowledge of such lifestyle disorders across the globe.

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Dairy Segment to Dominate the Natural and Artificial Sweetener Market:
The dairy segment is expected to account for a larger revenue share in the global natural and artificial sweetener market, with a value share worldwide. It is projected to grow at a 2.5% CAGR between 2022 and 2028. A large variety of products explicitly created from the milk of mammals, including cattle, buffaloes, goats, and others, are referred to as dairy products. Among the items produced by the dairy sector are yogurt, cheese, and butter. The market will likely expand in the following years due to consumers' growing preferences for consuming various goods with nutritional components and their growing awareness of the benefits of consuming dairy products with natural sweeteners. Additionally, the rising need for dairy products worldwide is a significant driver of natural sweeteners' demand for dairy sector applications, which will favourably affect market growth over the projection period.

Europe Natural and Artificial Sweetener Market:
The Europe market is expected to increase in the global natural and artificial sweetener market over the forecast period. It is projected to grow at a CAGR of 2.4% in the coming years. Due to the region's expanding demand for sugar substitutes and increased health consciousness, natural sweeteners are becoming more and more well-liked. The market is anticipated to experience growth over the forecast period due to the gradual shift toward these sweeteners brought on by the rising prevalence of diabetes in the area. Additionally, the market for artificial sweeteners is predicted to have significant expansion over the following years due to the increasing number of product launches in the region and investments by key industry players. Furthermore, it is predicted that during the forecast period, manufacturers and vendors will have more growth prospects due to the expansion of the bakery and confectionery industry. The introduction of the sugar tax and growing consumer concerns about the excessive sugar content of food and beverages are expected to increase market expansion potential for vendors and producers in the nation such as United Kingdom. Additionally, it is projected that market growth potential will be boosted in the following years by the nation's increasing food and beverage industry and rising investments by major market players to improve their market share.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global natural and artificial sweetener market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In March 2022, Conagen announced major scale-up manufacturing of its two new natural sweeteners, thaumatin I and thaumatin II, providing food and beverage brands with two more natural sweeteners in their quest to reduce the sugar. These developments also benefit its partner, Sweegen, to offer its clients robust sugar reduction solutions of zero-sugar natural sweeteners. In February 2021, Whole Earth Brands, a leading international food enterprise, acquired the Wholesome Sweeteners, an organic North American sweetener brand. This acquisition is expected to enhance the natural sweeteners segment of the former, expanding its presence in North America.

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