The global specialty sweetener market is valued at USD 2 billion in 2016 and is expected to reach USD 2.98 billion by 2023, registering a CAGR of 5.3% during 2018-2023. The demand for sugar-free products and low-sugar diets is fueling the growth of the market. Conventional sweetening agents like sugar and high-fructose corn syrup (HFCS) are high in calories. Hence, food processing companies are manufacturing low-calorie and sugar-free alternatives as part of their product lines. Even in their homes, people are increasingly substituting sugar with low-calorie, intense sweeteners.
Weight-related problems and diabetes are the primary drivers for the global non-sugar sweetener market. Consumers choose various sugar substitutes, thus fueling the global specialty sweetener market. Consumers have become more health conscious and pay attention to food labels to check the calorie content of the product. Therefore, food processing companies are adding low-calorie and sugar-free alternatives to their product lines.
The specialty sweetener market is segmented by type into natural and artificial sweeteners. The natural sweeteners segment is gaining more popularity than the artificial sweeteners segment, as it has no side effects, however, decreased availability and development of more health-conscious artificial sweeteners have shifted preferences of consumers towards artificial sweeteners.
The global specialty sweetener market is classified, based on application, into the food & beverage sector. Aspartame is used widely in the food & beverage industry as a special sweetener in products including bakery products, cereals, syrups, fruit-based products, and ready-to-drink beverages, thus providing a great opportunity for the market for specialty sweeteners. Moreover, the development of low-sugar foods for diabetic and diet conscious clients, coupled with growing diet liquids demand, is projected to increase demand during 2018-2023. Products with special sweeteners have low energy content, are used to control weight, and are prescribed by doctors for diabetics as they do not affect blood sugar level.
Market Segmentation - By Region
With a market share of over 35%, North America dominated the sweetener market in 2017. The growth in demand for specialty sweeteners in industrial and non-industrial applications and changing consumer preferences have accelerated market growth in the region. North America is also a leading producer and consumer in the sweetener market, due to the growing demand for convenience food, functional food, and alternative sugar sources.
- February 2018 - GLG Life Tech Corp launched its Reb M sweetener product line in collaboration with Archer Daniels Midland Co. The sweeteners are made from GLG Life Tech's proprietary high Reb M Dream Sweetener stevia leaf.
- February 2018 - PepsiCo is adding aspartame back to its flagship Diet Pepsi product.
Reasons to Purchase this Report
- 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 non-economic aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet in excel
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1.1 Research Methodology
1.2 Market Definition
1.3 Report Description
2. Market Overview
2.1 Market Trends
3. Market Dynamics
3.4 Porter’s Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products & Services
3.4.5 Degree of Competition
4. Market Segmentation
4.1 By Type
4.2 By Application
4.2.1 Food Sector
22.214.171.124 Baked Products
4.2.2 Beverages Sector
4.2.3 Other Application
4.3 By Geography
4.3.1 North America
126.96.36.199 Rest of North America
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
4.3.4 South America
220.127.116.11 Rest of South America
18.104.22.168 South Africa
22.214.171.124 Rest of Africa
5. Competitive Landscape
5.1 Strategy Adopted by Key Players
5.2 Most Active Companies in the Past Five Years
5.3 Market Share Analysis
6. Company Profile
6.1 Nestle SA
6.2 Coca Cola Company
6.3 PepsiCo Inc.
6.4 Cargill. Inc.
6.5 Pure Circle Ltd
6.6 Stevia Corp
6.7 GLG Life Tech Corp
6.8 Cumberland Packing
6.9 Imperial Sugar
6.10 Zydus Wellness
6.12 Tate & Lyle
6.13 The Nutra Sweet Company