Market Size of Food Sweetener Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 89.87 Billion |
| Market Size (2029) | USD 101.53 Billion |
| CAGR (2024 - 2029) | 2.47 % |
| Fastest Growing Market | South America |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Food Sweetener Market Analysis
The Food Sweetener Market size is estimated at USD 89.87 billion in 2024, and is expected to reach USD 101.53 billion by 2029, growing at a CAGR of 2.47% during the forecast period (2024-2029).
A fast-paced lifestyle and an increased preference for convenience food are expected to be some of the major drivers for the food processing industry. Furthermore, increased consumption of soft drinks, especially carbonated soft drinks, is expected to drive the demand for sweeteners in the U.S. The changing consumer preference drives the demand for healthier and safer food products with high nutritional value. The consumption of sugar substitutes, such as xylitol, erythritol, and mannitol, is rapidly increasing worldwide, attributed to consumer awareness, government regulations to reduce sugar consumption, and their application in many health and wellness food products in the market.
Increasing concerns regarding the prevalence of obesity are encouraging consumers to opt for natural and zero-calorie sweeteners, such as stevia. According to the Global Stevia Institute's internal survey, approximately 60% of Americans prefer low-calorie sugar in their foods.
The inclination toward low-calorie beverages, such as diet coke and low-calorie drinks, and low-calorie foods, such as yogurt, ice cream, and grain-based desserts, has gained popularity worldwide. The physiology of sweetness receptors is also being studied in greater detail to make food and beverages sweet without using sugar. Also, with the changing regulatory environment and permission for using sweeteners in dairy products, biscuits, and confectionery, the artificial sweeteners segment is witnessing high growth.
