Northbrook, IL 60062 -- (SBWIRE) -- 01/17/2024 -- A recent research report titled "Sweeteners Market by Type (High-intensity & Low-intensity sweeteners), Product (Sucrose, High-fructose corn syrup, Natural sweeteners, Polyols, Artificial & Novel sweeteners), Form, Application, Sales Channel, and Region - Global Forecast to 2028" by MarketsandMarkets predicts substantial growth in the sweeteners market. The market is projected to surge from USD 115.8 billion in 2023 to USD 144.7 billion by 2028, with a CAGR of 4.6% during the forecast period.

Download PDF Brochure

Key Drivers of Sweeteners Market Growth:

The sweeteners market is witnessing significant expansion due to its diverse applications in various industries, including food, beverage, personal care, and pharmaceuticals. In the food industry, sweeteners play a vital role in enhancing taste and sweetness, particularly in products such as bakery items, confectioneries, and dairy products. High-intensity sweeteners like aspartame and sucralose are extensively used in sugar-free candies and desserts.

In the beverage industry, sweeteners are crucial for formulating low-calorie and sugar-free options to meet the growing demand for healthier drink alternatives. The personal care sector utilizes sweeteners in oral care products, chewing gums, and cosmetics. Moreover, sweeteners are incorporated into pharmaceuticals to improve medication palatability, showcasing their versatility across diverse industries.

Stevia Dominates Natural Sweeteners Segment:

Stevia is expected to lead the natural sweeteners market during the forecast period. This plant-derived sweetener with zero calories aligns with consumer preferences for healthier, clean-label alternatives. Stevia's high sweetness intensity makes it an effective sugar substitute in various applications while maintaining a minimal impact on caloric content. The global shift towards reducing sugar intake and addressing obesity has propelled the demand for natural sweeteners, with stevia emerging as a prominent choice.

Direct Sales Channel Dominates in 2023:

The direct sales channel, including the B2B segment, holds the largest share in the sweeteners market. This preference is attributed to streamlined communication and negotiation processes, fostering strong relationships with buyers. Direct engagement enables tailored solutions, bulk transactions, and efficient order fulfillment, critical factors in the competitive sweeteners industry. The direct sales model minimizes complexities associated with intermediaries, reducing costs and optimizing supply chain management.

China Drives Highest Growth:

China is anticipated to experience the highest growth in the sweeteners market between 2023 and 2028. The country's dynamic and rapidly expanding sugar industry, marked by new refineries and advanced technologies, positions it as a major player. China has strategically developed an alternative sweetener industry, meeting domestic requirements through a combination of domestic production and imports. The nation's growth in the sweeteners market is underscored by the expansion of the sugar industry, technological advancements, and strategic shifts in cultivation patterns.

Make an Inquiry

Major Players in the Sweeteners Market:

Key players in the sweeteners market include 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).

The comprehensive report details the market landscape, growth drivers, and regional dynamics, providing valuable insights for stakeholders in the global sweeteners market.

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