Saturday, 23 October 2021 06:01 GMT

Sweeteners Market Share, Size, Analysis, Growth, Industry Statistics and Forecast 2030


(MENAFN- GetNews) Global sweeteners market is expected to be valued at ~US$ 489 Bn in 2020, which is projected to rise at a CAGR of 4%, to reach US$ 731 Bn by 2030

Sweeteners Market: Introduction

A recent study published by Transparency Market Research on the sweeteners market includes global industry analysis and opportunity assessment for  2020-2030.  The global  sweeteners market  i s expected to be valued at ~ US$ 489 Bn  in  2020 , which is projected to rise at a CAGR of  4%,  to reach  US$ 731 Bn  by  2030.

Increasing Demand for Plant-based Sweeteners Augmenting Market

The rising demand for plant-based sweeteners or products improves prospects for companies that seek to sustain their position in the consolidated sweeteners market.

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The use of stevia, molasses, honey, palm sugar, coconut sugar, monk fruit, and other plant-based sweeteners in beverages and packaged food is expected to increase the market's reach in existing regions as well as penetrate deeper into untapped markets worldwide. Furthermore, new product offerings, especially in the developed countries such as US,  where stevia is recognized as GRAS product, is likely to boost the stevia market in the near future, thereby supporting growth of the global sweeteners market.

REQUEST FOR COVID19 IMPACT ANALYSIS –

Increasing Consumer Expenditure on Healthcare Boosting Sales of Natural Sweeteners

The cost of healthcare has increased at a rate as fast as general inflation, mainly due to the widespread research and development activities in the pharmaceutical industry.

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According to the Australian Institute of Health and Welfare, an estimated  US$ 185.4 Bn  was spent on health goods and services in Australia in  2017–18,  equating to an average of approximately  US$ 7,485  per person.

  • Increasing cost of healthcare has compelled people to opt for natural and healthy food products as a precautionary measure. These natural products provide health benefits, such as weight management, lower blood sugar levels, protect against certain cancers, lowering risk of heart attacks, and reducing pain from arthritis, among others. Therefore, increasing healthcare expenditure is anticipated to increase the sales of natural sweeteners in the global sweeteners market.

Urbanization and Changing Lifestyles Boost Demand for Natural Food Ingredients

Increasing consumer demand for natural and healthy food is a key factor driving the adoption of specialty ingredients in food & beverages sector, as these offer benefits such as extended shelf life, stability, and texture, along with offering healthier properties to the end product. This scenario has led manufacturers to focus on development of initiatives to offer natural products to consumers, and hence players in the food & beverages industry are substituting chemical ingredients with natural and specialty ingredients with an aim to improve their sales and increase their customer base.

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