According to Arizton’s latest research report, the global alternative sweetener market is growing at a CAGR of 5.79% during 2023-2029.
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Report Scope:
Market Size (2029): $14.71 Billion
Market Size (2023): $10.49 Billion
CAGR (2023-2029): 5.79%
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Source, Product Type, Application, and Geography
Geographical Analysis: North America, Europe, APAC, Latin America, and Middle East & Africa
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The global alternative sweetener market is experiencing significant growth, fueled by the increasing popularity of low-calorie and no-sugar aerated drinks, energy drinks, juices, and baked goods. As consumers become more aware of the negative effects of sucrose consumption, this trend is expected to continue. Shifting consumer lifestyles and dietary habits have played a pivotal role in expanding the fast-food and bakery industries, leading to greater demand for alternative sweeteners. These sweeteners are essential in bakery products, not only for their sweetening capabilities but also for their ability to enhance volume, structure, browning, aeration, energy content, moisture retention, shelf life, and overall appeal.
End-user industries are responding to the rising demand for sugar alternatives by incorporating these sweeteners into their products. Additionally, consumers are increasingly interested in clean-label products that transparently display nutritional and sugar content. Healthy alternatives are expected to drive future growth in the alternative sweetener market. Health-conscious consumers are demanding more transparency from manufacturers. Millennials, a key demographic for healthy products, also represent a growing market for fortified water. Notably, around 43% of millennials in the U.S. express distrust towards large food manufacturers, compared to just 18% of non-millennials.
The rising millennial population presents opportunities across various industries, as their consumer spending exceeds that of the baby-boomer generation, many of whom are now retired and more focused on saving. Millennials, primarily in their prime earning years, are expected to drive economic growth, particularly in developed countries, for at least the next five years. Food and beverage companies are well-positioned to capitalize on this trend, with many focusing on eliminating undesirable ingredients and promoting health and wellness claims. Naturally occurring or derived ingredients are especially well-received, as they are perceived as healthier and more sustainable alternatives to traditional sugary products.
Competitive Overview
The alternative sweetener market is highly fragmented, featuring a mix of global, local, regional, and international vendors. While the number of global players is limited, the rising demand for natural ingredients in food has led to the emergence of numerous domestic and local suppliers, creating significant competition for established brands across all regions.
To gain a foothold in these expanding markets, major brands are increasingly investing in growing start-ups. Vendors offering natural sugar substitutes need to closely monitor market trends, particularly the rise of low-calorie food and beverage options that incorporate these alternatives.
The alternative sweetener market is expected to remain diverse, with vendors focusing on various factors such as ingredients, flavors, packaging, pricing, and distribution strategies. Additionally, understanding cultural contexts and demographics will play a crucial role in shaping industry dynamics.
Segmentation Overview
Aspartame is one of the most widely consumed artificial sweeteners, categorized as a high-intensity sweetener. Recognized as a low-calorie alternative to sugar, it is extensively used across the food and beverage, pharmaceutical, and personal care industries.
The aspartame market is experiencing rapid growth, driven by changing consumer preferences and a shift toward lower sugar consumption. Aspartame is approximately 200 times sweeter than sucrose and other alternatives, providing a sugar-like taste to a variety of food products.
It is also commonly found in low-calorie tabletop sweeteners, with Equal being the most recognized brand in the U.S. Other popular brands include Canderel in Europe and Pal Sweet in Asia.
The American Heart Association (AHA) advises against the regular consumption of low-calorie sweeteners in children’s beverages, recommending water and other unsweetened options, such as plain milk.
As demand for low-calorie foods and beverages rises, the food and beverage industry, along with sectors like packaged foods, is expected to see increased growth. This trend will likely drive higher demand for aspartame in the coming years.
Key Developments in the Global Alternative Sweetener Market
Key Company Profiles
Market Segmentation
Source
Product Type
Geography
APAC
North America
Europe
Latin America
Middle East & Africa
In a nutshell, the Arizton Advisory & Intelligence market research report provides valuable market insights for industry stakeholders, investors, researchers, consultants, and business strategists aiming to gain a thorough understanding of the alternative sweetener market. Request for Free Sample to get a glance of the report now: https://www.arizton.com/market-reports/alternative-sweetener-market
What Key Findings Will Our Research Analysis Reveal?
How big is the global alternative sweetener market?
Which region dominates the global alternative sweetener market share?
What are the significant trends in the alternative sweetener industry?
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Who are the key players in the global alternative sweetener market?
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