High-intensity Sweeteners Market Predicted to Reach USD 2.92 Billion Forecast by 2031

High-intensity sweeteners market generated $1.89 billion in 2020, and is projected to reach $2.92 billion by 2031, witnessing a CAGR of 3.7% from 2022 to 2031.

High-intensity sweeteners are in high demand in food, beverage, dairy, bakery, and confectionary industries due to growing concerns about health, diet, and lifestyles, and as they reduce calorie intake in the diet. Thus, food manufacturers focus on producing low-calorie food products using high-intensity sweeteners for similar sweet taste.

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Ongoing developments and new applications in the food industry including dairy products & baked goods, rise in incidences of diabetes and obesity, and concerns about health and nutrition among the population drive the growth of the global high-intensity sweeteners market. However, decline in soft drink consumption in North America and Europe regions is expected to hamper the high-intensity sweeteners market growth. Contrarily, surge in the number of health-conscious consumers, especially in the developing economies, is expected to generate potential opportunities for the market during the forecast period.

High-intensity sweeteners are widely used as an alternative to sugar to enhance and sweeten various food & beverages. Moreover, these compounds are several times sweeter than regular sugar; and hence, are required in lower concentration for sweetening the products. These are used as replacements to sucrose (sugar) due to their overall sweeter taste and low-calorie content.

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The global high-intensity sweeteners market witness's significant growth, owing to ongoing developments and new applications in the food industry including, dairy products & baked goods. In addition, concerns about health and nutrition among the population are the key drivers of the market. Moreover, stevia extract, a sweetener derived from the leaves of stevia shrub, is widely used by consumers apart from the monk fruit extract. Furthermore, surge in the number of health-conscious consumers, especially in the developing economies and rise in incidences of diabetes and obesity have led to change in dietary habits of consumers. Thus, high-intensity sweeteners have replaced sugar as a food additive to prevent these conditions. However, decline in soft drink consumption in North America and Europe regions is expected to hamper the high-intensity sweeteners market growth.

The beverage segment accounted for one-third of the global high-intensity sweeteners market share, in terms of volume, in 2020. The consumption of diet carbonated soft drinks and low-calorie food creates the demand for high-intensity sweeteners in the beverage industry. Moreover, recent government initiatives in countries such as UK, which has imposed sugar tax on sugar-based soft drinks are some of the key factors that drive the market. Furthermore, the use of cyclamate sweetener has increased in diet beverages and food, especially in the developing regions, such as Asia-Pacific and Africa, owing to increase in health awareness among the population.

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The global high-intensity sweeteners market is driven by production & consumption of diet carbonated soft drinks and low-calorie foods. Moreover, these sweeteners are added to diet soft drinks, low-calorie yogurts, and sugar-free jams, so that they taste as their conventional counterparts. In addition, growing health concern, such as obesity and rise in incidences of diabetes and cardiac arrest, have motivated consumers to improve their lifestyles and adapt healthier and low-calorie diet pattern. Thus, rise in adoption of stevia extracts high-intensity sweeteners in food & beverage health products fuels the market growth.

The major companies profiled for high-intensity sweeteners industry include Hyet Sweet, Tate and Lyle, Plc., Celanese Corporation, Cumberland Packing Corporation, Merisant, Ajinomoto Co., Inc., Hermes Sweeteners Ltd., JK Sucralose, Inc., Heartland Food Products Group, and Stevia First Corporation.

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