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In 2016, the global market for food sweeteners was valued at USD 85 billion. The market is estimated to grow at a CAGR of 4.5% to reach nearly USD 115.6 billion by 2023. Bulk sweeteners such as sucrose, lactose, and fructose form the mature segment of the global food sweeteners market. With the growing awareness about the effects of sugar on health and fitness, sugar substitutes have gained popularity and considerable market share. The market for synthetic sweeteners is expected to witness a significant growth during the forecast period mainly due to the growing demand from the food beverages market.
Wide application of sweeteners in processed foods
Sweeteners are now becoming a crucial part of products like ketchup, wholewheat bread, salad dressing, yoghurt and even breakfast cereals. By using different blends of low calorie sweeteners, subtle taste options can be achieved. Manufacturers choose the sweeteners with low calorie sweeteners as a blend based on taste considerations, stability and cost. The major constraint in the sugar market is the volatility in prices, leading to market fluctuations.
HIS is the fastest growing segment
The sweetener market is segmented into sugar, highintensity sweeteners HIS and highfructose corn syrup. The market for HIS is expected to reach nearly USD 2.3 billion in 2023 at a CAGR of 5.1%. This growth is due to increased awareness and usage of dietary foods. Another major driver is the growing concern of obesity and diabetic patients is resulting in growth in this category. Although presently, HIS is the fastest growing segment due to the rising health concerns among people. Aspartame and sucralose are the most famous sweeteners in the HIS segment. Stevia is also seeing a major demand in the natural sweeteners category.
Major manufacturing centers such as China and India are seeing an increase in production capacity to meet the enduser demands for usage in baked products, confectionaries and frozen desserts. Investors are looking out for opportunities to set up manufacturing units and increase their presence in developing and potential regions of Indonesia.
April 2017: United States commodity giant Cargil plans to invest USD 500 million by 2020 in Indonesia to expand its business
Major players: CARGILL, KERRY GROUP, STEVIA FIRST CORPORATION, HERMES SWEETENERS Ltd, TATE AND LYLE Plc., HERMES SWEETNERS Ltd, ARCHER DANIELS MIDLAND ADM, CELANESE CORPORATION, CORN PRODUCTS INTERNATIONAL
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Analyzing outlook of the market with the recent trends and Porter's five forces analysis
Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and noneconomic aspects
Country level analysis integrating the demand and supply forces that are influencing the growth of the market
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