Market Trends of Food Sweetener Industry
This section covers the major market trends shaping the Food Sweetener Market according to our research experts:
Shift Toward Convenience and Processed Food Consumption
The increasing demand for convenience and processed foods, such as sweet/sugar-based ready-to-eat foods, ready-to-drink beverages, snacks, and frozen meals, is one of the significant factors driving the growth of the high-fructose corn syrup market. Due to the rising urbanization, growing middle-class population, an increasing number of working women, and rising disposable income, the developed and developing regions across the world are witnessing a rising demand for processed and packaged food, which may increase the need for food packaging and sugar processing solutions, driving the demand for high-fructose corn syrup in food and beverage applications across the world. In addition to its sweetening properties, HFCS keeps foods fresh, lowers the freezing point, retains moisture in bran cereals and breakfast bars, enhances fruit and spice flavors, promotes surface browning, and provides fermentability. Overall, the huge demand for food has led the entire value chain to open the markets for HFCS globally, along with new introductions from foreign players.
The demand for food sweeteners around the world is being driven in large part by consumers' growing health consciousness. Additionally, the industry is expanding due to consumers' growing preference for natural products. Additionally, the fast food, bakery, and consumer lifestyle and eating habits are driving the market for these industries, which has resulted in the market experiencing considerable development throughout the projected period. Also, the worldwide use of sugar substitutes like xylitol, erythritol, and mannitol is rising quickly, thanks in part to consumer awareness campaigns, laws requiring less sugar intake, and their inclusion in a variety of marketable health and wellness food items.
Asia Pacific Dominates the Market
China is one of the world's largest producers of sweeteners, dominating the global market for many high-intensity sweeteners, such as saccharin, cyclamate, acesulfame-K (Ace-K), stevia, aspartame, sucralose, glycyrrhizin, alitame, and neotame. Also, the consumption of sweeteners is rising rapidly in China due to the increasing demand for sugar-enriched food and beverage products. Moreover, with the growing economic importance of stevia in the country, players are focusing more on this market. Stevia producer PureCircle is seeking to ramp up production for the Chinese market after receiving a patent for its stevia Reb M sweetener in the country. Further, the increasing demand for natural and healthful alternatives in the region has grabbed the attention of many food and beverage giants in Asia. For example, Coca-Cola and Pepsi's market shares have drastically declined due to the use of aspartame. Bearing this in mind, they have expanded their product ranges with natural plant-based stevia. Therefore, increased demand for natural, non-caloric sweeteners, and high demand for sweeteners in various applications, such as processed food and beverages from emerging economies in Asia, are the major factors driving the market's growth.
