The global natural sweeteners market size is estimated to be valued at USD 2.8 billion in 2020 and projected to reach USD 3.8 billion by 2025, recording a CAGR of 6.1% during the forecast period.
The global natural sweeteners industry has witnessed growing trends in the past years. The growth of this industry is majorly driven by increase in health consciousness among consumers to encourage the demand for healthier food choices, increase in demand for natural sweeteners due to the rise in consumer inclination toward natural products, and growing demand for sugar alternatives in various applications in the food & beverage industry.
Other factors driving the demand for these natural sweeteners include the growing applications of sweeteners, specially in food & beverage industry in developing and underdeveloped countries, owing to its low-calorie and naturally sweetening properties. However, the growth of the natural sweeteners market is inhibited by factors, such as ambiguity related to health problems caused due to over consumption of natural sweeteners.
The stevia segment is expected to experience the fastest growth in the global market, on the basis of type, in 2019. The sweet-tasting components of stevia are called steviol glycosides, which are naturally present in the stevia leaf. There are eleven major steviol glycosides present in stevia.
The food & beverage segment accounted for the fastest growing segment in the global market, in 2019, in terms of value. Sugars are largely consumed to offer a sweetening taste in an array of food & beverage products. Owing to this, most of the consumption of natural sweeteners is also witnessed in the food & beverage industry.
The beverage segment accounted for a major share in the global market, in 2019, in terms of value. natural sweeteners are currently preferred in beverages, such as diet carbonated drinks, flavored water, and other beverages. Stevia is a key natural sweeteners used in beverages. It is a preferred natural sweeteners with reduced-calorie and zero glycemic indexes, which is used to produce numerous versions of energy drinks, soft drinks, ready-to-drink teas, flavored water, and fruit juices.
Asia Pacific region is projected to witness a higher growth rate during the forecast period. The natural sweeteners industry in the Asia Pacific region is growing due to the change in the lifestyle of customers and the increase in health consciousness among consumers.
Key Market Players:
DuPont (US), ADM (US), Tate & Lyle PLC (UK), Cargill (US), Ingredion Incorporated (US), Roquette Frères (France), FoodChem International Corporation (China), PureCircle Ltd (US), MacAndrews & Forbes Holdings Inc (Merisant) (US), Ecogreen Oleochemicals Pvt Ltd (Indonesia).