CHICAGO, Jan. 16, 2024 /PRNewswire/ -- The Sweeteners Market is projected to reach USD 144.7 billion by 2028 from USD 115.8 billion in 2023 at a CAGR of 4.6% from 2023 to 2028 according to a report published by MarketsandMarkets. The sweeteners market is experiencing significant growth due to its diverse applications across various industries, including food, beverage, personal care, and pharmaceuticals. In the food industry, sweeteners play a crucial role in enhancing the taste and sweetness of a wide range of products, such as bakery items, confectioneries, and dairy products. For instance, high-intensity sweeteners like aspartame and sucralose are extensively used in the production of sugar-free candies and desserts.
In the beverage industry, sweeteners are employed to formulate low-calorie and sugar-free options, addressing the rising demand for healthier drink alternatives. The use of sweeteners extends to the personal care sector, where they are utilized in the production of oral care products, chewing gums, and cosmetics. Additionally, in pharmaceuticals, sweeteners are incorporated into medications to improve palatability. The versatility of sweeteners across these diverse industries reflects their integral role in product formulation, contributing to the overall expansion of the sweeteners market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=186278129
Browse in-depth TOC on "Sweeteners Market"
250 - Tables
115 - Figures
350 - Pages
Stevia is expected to have the largest share in the natural sweeteners segment during the forecast period.
Stevia commands the largest share in the natural sweeteners market due to several key factors driving its popularity and market dominance. As a natural, plant-derived sweetener with zero calories, stevia aligns with the growing consumer preference for healthier, clean-label alternatives to traditional sugars. Its unique advantage lies in its high sweetness intensity, making it an effective sugar substitute in various food and beverage applications while maintaining a minimal impact on caloric content.
The global shift toward reducing sugar intake and combating obesity has fueled the demand for natural sweeteners, with stevia emerging as a frontrunner. Its widespread adoption by major food and beverage manufacturers, coupled with regulatory approvals for its use, has contributed to its dominance. Additionally, stevia's versatility in catering to diverse consumer tastes, from beverages to baked goods, positions it as a preferred choice, driving its substantial market share in the competitive landscape of natural sweeteners.
By sales channel, direct sales channel holds the largest share in the sweeteners market in 2023.
The direct sales channel which includes the B2B segment, holds the highest share in the sweeteners market. In the B2B context, manufacturers and suppliers prefer direct sales channels as they enable streamlined communication and negotiation processes, fostering strong and direct relationships with buyers. This direct engagement allows for tailored solutions, bulk transactions, and efficient order fulfillment, crucial factors in the competitive sweeteners industry.
Moreover, in the B2B realm, where large quantities are often involved, the direct sales channel minimizes complexities associated with intermediaries, reducing costs and optimizing supply chain management. Manufacturers can better understand the specific needs of their business clients, providing customized solutions and building long-term partnerships. The transparency and control offered by the direct sales model contribute to its dominance, ensuring that the sweeteners market efficiently meets the demands of businesses while fostering collaborative growth and strategic alliances.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=186278129
China is expected to account for the highest growth between 2023 and 2028.
China has emerged as the fastest-growing country in the sweeteners market, driven by a dynamic and rapidly expanding sugar industry. The establishment of new refineries and the adoption of advanced technologies have propelled the sector's growth, transforming it into a highly integrated industry. With a significant increase in consumption, China has successfully met domestic requirements through a combination of domestic production and imports. Despite being a net importer of sugar, the country has strategically developed an alternative sweetener industry, positioning itself as a major producer and consumer of saccharin globally.
Sugarcane, constituting approximately 80 percent of sugar production, is primarily cultivated in the South and Southwest regions, notably Guangxi, Guangdong, and Yunnan provinces. Guangxi, in particular, has become a leading supply province. The overall growth in China's sweeteners market is underscored by the sugar industry's expansion, technological advancements, and strategic shifts in cultivation patterns, establishing the nation as a key player in the global sweeteners landscape.
Major players operating in the sweeteners market are Cargill, Incorporated (US), ADM (US), International Flavors & Fragrances Inc. (US), Ingredion Incorporated (US), Tate & Lyle (UK), Associated British Foods (UK), Südzucker AG (Germany), and Ajinomoto Co., Inc. (Japan).
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=186278129
Browse Adjacent Reports @ Food and Beverage Market Research Reports & Consulting
Related Reports:
Sugar Substitutes Market by Type (High-Fructose Syrup, High-Intensity Sweeteners, Low-Intensity Sweeteners), Composition, Application (Beverages, Food Products, & Health & Personal Care Products), Source, Form, Region - Global Forecast to 2028
Polyol Sweeteners Market by Type (Sorbitol, Maltitol, Isomalt, Erythritol, Xylitol), Application (Bakery & Confectionery, Oral Care, Pharmaceuticals, Beverages, Dairy), Form (Powder/Crystal, Liquid/Syrup), and Region - Global Forecast to 2022
About MarketsandMarkets
MarketsandMarkets has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/sweeteners-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/sweeteners.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/sweeteners-market-worth-144-7-billion-by-2028--exclusive-report-by-marketsandmarkets-302035429.html
