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Low Intensity Sweeteners Market Scope, Share, Trends Analysis And Forecasts(2024 - 2033)
Low Intensity Sweeteners Market Scope
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According to The Business Research Company's, The low intensity sweeteners market size has grown strongly in recent years. It will grow from $2.02 billion in 2023 to $2.16 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to increased health consciousness and demand for low-calorie alternatives, growth in diabetic population and need for sugar substitutes, regulatory support for reduced sugar and low-calorie products, consumer preference for natural and clean label sweeteners, rise in obesity rates and awareness of sugar-related health issues, expansion of the food and beverage industry.
The low intensity sweeteners market size is expected to see strong growth in the next few years. It will grow to $2.79 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to rising demand for low-calorie and reduced sugar products, health and wellness trends impacting sweetener choices, emerging markets and increased urbanization, consumer preference for plant-based sweeteners, innovation in low intensity sweetener formulations. Major trends in the forecast period include blends of low intensity sweeteners for enhanced taste, application of low intensity sweeteners in beverages and dairy, clean label and non-gmo claims for sweetener products, functional attributes of low intensity sweeteners, customized sweetening solutions for different products, reduction of sugar content in reformulated products.
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Market Drivers and Trends:
Growing consumer inclination towards low-calorie foods is expected to propel the growth of the low-intensity sweetener market. The rising consumer awareness of health and wellness in relation to healthier food and beverage products, as well as a preference for low-calorie foods and a healthy diet, is driving the growth of the market. For instance, according to an online survey conducted in 2021 by YouGov as part of the British Nutrition Foundation's Healthy Eating Week 2021, 33% of respondents stated that they have included more fruits and vegetables in their diets, 29% have started cooking healthier meals, and 32% have been drinking more water. Therefore, growing consumer inclination towards low-calorie and healthy foods is expected to propel the growth of the low-intensity sweetener market.
New product launches are a key trend gaining popularity among the companies in the low-intensity sweeteners market. Players in the market are developing new products to fulfil customer demand for more predictive tools to reduce development time and support product performance. For example, in March 2022, Cargill, a US-based food corporation, has launched Ever Sweet + ClearFlo Stevia Platform, which is a combination of its leading stevia sweetener, EverSweet, and its technology ClearFlo as a platform. The combination of EverSweet and ClearFlo can offer flavor modification, improved solubility, stability in formulations, and faster dissolution .
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Major Key Players of the Market:
Ingredion Incorporated, Roquette Frères S.A., Tate & Lyle plc, Food Chem International Corporation, DuPont de Nemours Inc., Gulshan Polyols Limited, Mitsui Sugar Co. Ltd., Archer Daniels Midland Company, Whole Earth Brands Inc., Van Wankum Ingredients B.V., Hylen Co. Ltd., Fooding Group Limited, Apura Ingredients, Shandong Saigo Group Corporation, Bonumose Inc., Nova Green Inc., ZuChem Inc., PureCircle Limited, HYET Sweet, SweetLeaf Stevia Sweetener, myris GmbH, NutraSweet Company, DSM Nutritional Products AG, GLG LIFE TECH CORPORATION, Südzucker AG, Wisdom Natural Brands, Icon Foods, Gadot Biochemical Industries Ltd.
Low Intensity Sweeteners Market 2024 Key Insights:
• The low intensity sweeteners market size is expected to see strong growth in the next few years. It will grow to $2.79 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• Health-Conscious Consumers Drive Growth In The Low-Intensity Sweetener Market
• Sweet Innovations With New Product Launches Transforming The Low-Intensity Sweeteners Market
• North America will be the largest region in the low-intensity sweeteners market share in 2023
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