Dry Monk Fruit Sweeteners Market is projected to reach the value of $560.19 million by 2030

According to the report published by Virtue Market Research, the Global Dry Monk Fruit Sweeteners Market was valued at $400 million in 2022 and is projected to reach a market capitalization of $560.19 million by 2030. Over the forecast period of 2023-2030, market is estimated to grow at a CAGR of 4.3% owing to the shift in consumer inclination toward the consumption of low-calorie alternatives to sugar in various foods and beverages.

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The Dry Monk Fruit Sweeteners Market is a rapidly growing industry that is gaining popularity worldwide. Monk fruit sweeteners are extracted from the monk fruit, a small green fruit that is native to Southeast Asia. The market is driven by several factors, including long-term market drivers and short-term market drivers.

One long-term market driver for the dry monk fruit sweeteners market is the increasing demand for natural sweeteners. Consumers are becoming more health-conscious and are looking for healthier alternatives to traditional sugar. Monk fruit sweeteners are an excellent alternative to sugar as they contain zero calories and do not raise blood sugar levels. This trend is expected to continue over the forecasted period as consumers continue to shift towards healthier lifestyles.

The COVID-19 pandemic has also impacted the dry monk fruit sweeteners market. The pandemic has led to an increase in demand for natural and healthy food products, including monk fruit sweeteners. Consumers are looking for products that can help boost their immune system and improve their overall health. Monk fruit sweeteners are an excellent choice as they do not contain any artificial ingredients or preservatives.

A short-term market driver for the dry monk fruit sweeteners market is the increasing demand for low-calorie sweeteners. The rise in the prevalence of diabetes and obesity has led to an increasing demand for low-calorie sweeteners. Monk fruit sweeteners are an excellent alternative to traditional sugar as they contain zero calories and do not raise blood sugar levels. This trend is expected to continue over the forecasted period as consumers become more health-conscious and seek out healthier alternatives.

An opportunity for the dry monk fruit sweeteners market is the increasing demand for organic and non-GMO products. Consumers are becoming more conscious of what they eat and are looking for products that are organic and non-GMO. Monk fruit sweeteners are an excellent choice as they are organic and do not contain any GMO ingredients. This trend is expected to continue over the forecasted period as consumers become more aware of the benefits of organic and non-GMO products.

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Segmentation Analysis:
The global Dry Monk Fruit Sweeteners Market segmentation includes:

By Nature:
• Organic
• Conventional

The global Dry Monk Fruit Sweeteners market is a rapidly growing market, driven by several factors such as increasing demand for natural and low-calorie sweeteners, and rising health awareness among consumers. This market is expected to continue growing in the long term due to the increasing prevalence of obesity, diabetes, and other lifestyle diseases, which has led consumers to opt for healthier alternatives to sugar.
The COVID-19 pandemic has also had a significant impact on the market. With people becoming more health-conscious and concerned about their immune systems, the demand for natural sweeteners like dry monk fruit sweeteners has increased. Moreover, with the pandemic leading to disruptions in the global supply chain, consumers are opting for locally sourced and produced products, which has further fueled the demand for dry monk fruit sweeteners.

By Distribution Channel:
• Supermarket/ Hypermarket
• Convenience Stores
• Online Channels
• Others

The market is also segmented by distribution channel, with Supermarket/Hypermarket being the largest segment. Supermarkets and hypermarkets are the go-to places for consumers to buy groceries and household items. The convenience of buying dry monk fruit sweeteners along with other groceries has contributed to the growth of this segment. Online channels are the fastest-growing segment during the forecast period, driven by the increasing trend of e-commerce and online shopping.

Regional Analysis:
The Dry Monk Fruit Sweeteners market is growing rapidly in different parts of the world, and North America is no exception. The demand for organically derived sweeteners and flavorings is increasing in the region, particularly in baked goods, dairy products, and confectionery. As a result, the market for dry monk fruit sweeteners in North America is expected to experience significant growth during the forecasted period.

One of the driving forces behind this growth is the increasing number of obese and diabetic individuals in the area. These people are looking for sugar alternatives that have no calories and won't affect their blood glucose levels, making dry monk fruit sweeteners a popular choice. Additionally, the food and beverage industry is constantly striving to meet these requirements, which is expected to drive the market's growth in the region.

Furthermore, North America is home to several key players in the dry monk fruit sweeteners market, such as Monk Fruit Corp and Lakanto. These companies are actively involved in product innovation and development, contributing to the overall growth of the market.

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Latest Industry Developments:
• In January 2022, Tate & Lyle, a leading global provider of food and beverage solutions and ingredients, announced the launch of a new premium monk fruit sweetener called TASTEVA® M. This innovative product offers a clean, sugar-like taste profile and is ideal for use in a variety of applications such as baked goods, beverages, and dairy products. This launch is expected to drive growth in the global dry monk fruit sweeteners market, as consumers increasingly seek out natural and healthier alternatives to traditional sweeteners.

• In December 2021, the US-based company Bioenergy Life Science Inc. announced that it had received self-affirmed Generally Recognized as Safe (GRAS) status for its Bioenergy® RIBOSE monk fruit sweetener. This sweetener is derived from monk fruit and is blended with Bioenergy RIBOSE, a naturally occurring carbohydrate that provides energy to cells. This innovative product offers a low-glycemic alternative to traditional sweeteners and is expected to attract health-conscious consumers looking for a natural and sustainable source of energy.

• In October 2021, the Australian company Natvia announced the launch of a new range of monk fruit sweeteners called Natvia Gold. This innovative product offers a sugar-like taste profile and is made from 100% natural ingredients, including monk fruit extract and erythritol. The range includes granulated sweetener, liquid sweetener, and powdered sweetener, making it ideal for use in a variety of applications. The launch of this product is expected to drive growth in the Asia-Pacific dry monk fruit sweeteners market, as consumers increasingly seek out natural and healthier alternatives to traditional sweeteners.

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Virtue Market Research is a strategic management firm helping companies to tackle most of their strategic issues and make informed decisions for their future growth. We offer syndicated reports and consulting services. Our reports are designed to provide insights on the constant flux in the global demand-supply gap of markets.

This release was published on openPR.