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Natural Sweeteners Market size to surpass $15.5 Bn by 2032

  • Published Date: November 28, 2022

Natural Sweeteners Market size is anticipated to surpass USD 15.5 billion by 2032, according to the latest research report by Global Market Insights Inc.

Rising health consciousness among young adults and the booming beverage business as the chief drivers of the natural sweeteners industry. The burgeoning awareness regarding the health benefits of utilizing natural sweeteners has encouraged beverage manufacturers to offer low-calorie sugar substitutes to meet the rising demand for ready-to-drink energy beverages.

Health benefits associated with raw honey to shape industry outlook

With respect to products, the study classifies the natural sweeteners market into agave, stevia, raw honey, monk fruit, xylitol, and others. The raw honey natural sweeteners segment is speculated to depict over 3% CAGR from 2023 to 2032. The growing consumer inclination toward naturally sourced sugar in baked, functional, or dietary products is fueling the demand for raw honey sweeteners. Moreover, the increasing uptake of nutritious and healthy products is accelerating raw honey segment growth as it aids in controlling cholesterol levels, improves gut health, and is a quick source of energy.

Shifting snacking preferences to augment bakery segment revenues

Deployment of natural sweeteners in bakery products is set to remain high through the forecast years. The natural sweeteners market size from the bakery application segment is primed to grow at over 4% CAGR between 2023 and 2032. The recent shift in snacking preference, along with soaring demand for aesthetic foods, such as cookies, croissants, and cupcakes, is pushing product adoption in bakeries across the world. The segment growth is further driven by the mounting demand for ready-to-eat food with adequate nutritional value.

Browse key industry insights spread across 260 pages with 176 market data tables & 47 figures & charts from the report, “Natural Sweeteners Market Statistics, By Product (Stevia, Monk Fruit, Raw Honey, Xylitol, Agave), By Application (Sports Supplements, Confectionery, Dairy, Frozen Desserts, Beverages), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:

Rising demand for plant-based food products to favor LATAM industry expansion

Latin America natural sweeteners market is poised to showcase more than 4% CAGR over the next ten years. The region may emerge as a major hub for this industry owing to the high prevalence of obesity, diabetes, and chronic diseases, which has boosted the consumption of food with a reduced amount of sugar, salt, calorie, fats, and others. Additionally, burgeoning uptake of plant-based products and botanical food products, thereby fueling the need for agave syrup, monk syrup, or sweeteners in the LATAM region.

New product launches to remain a major growth strategy

Strategic landscape of the natural sweeteners market is anticipated to witness a series of R&D initiatives, investments toward diversification of product portfolio, acquisitions, and collaborations with food & beverage firms. For instance, in July 2022, Sweegen, a U.S.-based sweetener producer, launched Bestevia LQ, a liquid-based stevia sweetener at the IFT FIRST meeting to overcome solubility challenges and increase liquid stability. Some key market players profiled in the report include Tate & Tyle Plc, Morita Kagaku Kogyo, GLG Life Tech Corp, Sunwin Stevia International, Inc., Madhava Natural Sweeteners, Malt Products Corporation, and Beijing Ginko Group, among others.

Authors: Kunal Ahuja, Sarita Bayas

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