The global natural sweeteners market size stood at USD 23.32 billion in 2022. The market is predicted to rise from USD 24.48 billion in 2023 to USD 37.14 billion by 2030 at a CAGR of 6.13% from 2023 to 2030.

Increasing preference for natural sweeteners due to growing consumer awareness about the adverse effects of artificial sweetener consumption is driving market expansion. Honey, stevia, molasses, dates, coconut sugar, and agave syrup are some of the sweeteners available in the market. Growing awareness among consumers and preference for healthy options is projected to boost market growth during the forecast period.

Fortune Business Insights™ shares this information in its report titled “Natural Sweeteners Market, 2023-2030.”

List of Key Players Profiled in the Market Report

• Tate & Lyle PLC (U.K.)
• Ingredion Incorporated (U.S.)
• Pure Circle Ltd. (Malaysia)
• Sweetly Stevia USA (U.S.)
• Fooditive B.V. (Netherlands)
• The Real Stevia Company (Sweden)
• Stevia Biotech Pvt. Ltd. (India)
• DuPont (U.S.)
• Cargill Inc. (U.S.)
• GLG Life Tech Corporation (Canada)

Source Link :

https://www.fortunebusinessinsights.com/industry-reports/natural-sweeteners-market-100553

Segmentation

Increasing Consumption of Honey for Processed Food and Beverage Production Drives Honey Segment Growth

In terms of type, the market is segregated into honey, molasses, date palm, stevia, sugar alcohol, and others. Rising processed food and beverage manufacturing boosts the demand for honey due to its flavor, further augmenting the segment expansion.

Surging Need for Natural Products for Energy Bar Production Boosts the Food and Beverage Segment Expansion

By application, the market is classified into food and beverage, which includes bakery, confectionery, beverages, and others, pharmaceuticals, and personal care and cosmetics. The food and beverage segment secures the highest natural sweeteners market share. Growing preference for natural sweeteners over traditional sugar in beverages, such as soft drinks, fruit juices, and dairy products, is boosting the segment growth. The increasing need for natural products for energy bar production also supports segment expansion.

Geographically, the market is studied across North America, South America, Europe, the Middle East & Africa, and Asia Pacific.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Drivers and Restraints

Imposition of Sugar Tax in Many Countries by Governments to Boost Market Expansion

Increased added sugar consumption led to many health disorders, including obesity, diabetes, cancer, and others. The growing incidence of such diseases is a huge concern across the globe. Market growth is driven by the increasing taxes on food and beverage producers by governments in several countries to reduce traditional sugar consumption among consumers.

For instance, to prevent the beverage industry from adding processed sugar to the drinks, the U.K. government levied Soft Drinks Industry Levy (SDIL), or ‘sugar tax’. Such taxes are pushing food producers to use new and natural raw materials for sweetening their products.

However, market growth is restrained by several factors, including fruit production reduction, climate change, and pest & predator attacks on crops and bees.

Regional Insights

Increase in Policies for Reducing Sugar Consumption Fueled Market Growth in Asia Pacific

Asia Pacific dominates the global market and holds the largest market share. Policies, such as China’s ‘Healthy China 2030,’ aimed at sugar consumption reduction by 2030 paves the way for producers to increase their presence in the region.

The North America market is increasing due to the rising trend of vegan diet among consumers which boosts the adoption of natural and healthier options, such as natural sweeteners.

Competitive Landscape

Increase in Product Introductions by Top Companies to Boost Market Development

Prominent companies in the natural sweeteners industry are concentrating on introducing products in new forms that can be smoothly added to product manufacturing and improve the overall flavor of the final product. Certain personal care product companies are introducing new toothpastes in the market, which is projected to fuel market growth in the coming years. In 2023, a natural sweetener-based toothpaste range called ‘Seriously Friendly Collection’ was launched by Colgate-owned cruelty-free brand ‘Hello’.

Key Industry Development

• March 2019: PureCircle received approval to introduce stevia-based sweetener for the Singapore market. This product is adopted to produce zero and low-calorie beverages and food products.