Monk Fruit Sweetener Market Size
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
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Monk Fruit Sweetener Market Analysis
The global monk fruit sweeteners market is projected to register a CAGR of 4.8% over the next five years.
- The rising health consciousness among consumers is placing additional demand for naturally derived sweeteners. The negative health effects of sugar, especially in diabetic patients, and the rise in diabetic incidences are bound to support the market demand.
- Monk fruit sweeteners contain added functional properties such as anti-inflammatory, anti-microbial, and anti-carcinogenic properties, providing additional medicinal value to consumers. Consumers are making healthier food choices, and the market is witnessing a shift in consumer attitudes toward sugar and other sugar products. The preference towards low-calorie or zero-calorie sugar products by consumers across the globe is aiding the market demand.
- Furthermore, incorporating innovations with new product formulations further fuels the market. Research shows multiple potential applications of monk fruit sweeteners, which is, in turn, increasing the research and development expenditure by the market players. Manufacturers are offering a variety of natural sweeteners in their purest form. They are offering unique and better products than other market competitors to enhance their sales and maintain their market share.
- However, the cost of production of these sweeteners is higher than an artificial source of sweeteners, thus carrying the premium pricing. The elevated prices of monk fruit sweeteners may act as a market restraining factor.
Monk Fruit Sweetener Industry Segmentation
The monk fruit is used to make monk fruit sugar, which is a sweetener. It is known by the name Luo Han Guo.
The global monk fruit sweeteners market is segmented, based on form into liquid and dry, based on category into organic and conventional, and based on distribution channel, into supermarkets/hypermarkets, convenience stores, online stores, and other distribution channels. Geographically, the market is segmented across North America, Europe, Asia-Pacific, South America and the Middle East, and Africa.
The report offers market size and forecasts in value (USD million) for all the above segments.
|Other Distribution Channel|
Monk Fruit Sweetener Market Trends
This section covers the major market trends shaping the Monk Fruit Sweetener Market according to our research experts:
Rising Health Consciousness Supporting Market Demand
- Compared to other products, monk fruit sugar has a higher level of sweetness. Because it is less harmful to the body than sugar, it is frequently utilized as a sugar substitute in several food and beverage products. The market is expanding due to rising demand for healthy and natural sweeteners and raising awareness of the importance of a healthy body and mind. This product contains essential antioxidants and is 300 times sweeter than sugar.
- Further, Monk fruit is a significant source of vitamin C, which supports the body's immunity. Over the last few years, consumers are increasingly becoming aware of nutritional needs and are now shifting towards healthier choices regarding food and beverage products. Consumers are opting for healthy foods that are low in calories, contain zero or less sugar, and are naturally organic-based ingredient food products due to the positive health benefits offered by them. For instance, they help in controlling weight and diabetes, have low calories, and do not raise blood sugar levels, which attracts more consumer demand.
- The world is witnessing rising incidences of chronic diseases due to unhealthy dietary lifestyles. This is leading to an increase in the obese and diabetic population. Enhanced sugar consumption is seen as a possible reason resulting in an overweight population. Consumers are therefore leaning towards naturally sweet products as they contain fewer calories and have fewer side effects.
- For instance, according to CerbariatricsReport on Obesity (2021), among North American Countries, Bahama’s obesity rate is 27.90% and tops the list of most obese countries in the region after Mexico, the United States, and Canada. Therefore, the consumers in this region are shifting towards sugar alternatives such as monk fruit sweeteners which present natural sugar alternatives.
- Additionally, in September 2022, In lab tests, a novel sweetener made from the fruit luo han guo, often known as monk fruit, enhanced the good bacteria in human guts, indicating that it may have prebiotic properties which will be studied in future human clinical investigations. The Journal of Agricultural and Food Chemistry published the study.
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North America is the Dominant Region in the Global Market
- North America dominates the global monk fruit sweeteners market. Consumers' rising health consciousness about lifestyle changes supports the increased demand for naturally derived sweeteners. Monk fruit sweeteners are used as a flavoring agent in multiple food products, including confectioneries, baked goods, dairy products, and other regional food and beverage products.
- Furthermore, market players are introducing innovations in the market and launching monk fruit sweeteners for application in sports and nutrition-based supplements, further influencing market demand and growth. Consumers are greatly inclined towards natural products and other sugar alternatives. The rise in health problems caused by artificial sweeteners drives consumers towards natural sweeteners such as monk fruit.
- Further, Monk fruit is widely used to flavor drinks by combining it with honey and added to smoothies, teas, coffee, and lemonade. The fruit can also be added to salad dressings, cereals, brownies, sweets, and soups with pork shank or watercress.
- In North America, obesity is emerging as one of the most significant burdens on healthcare. According to the 19th annual report on the Nation’s obesity crisis published by Trust for America’s Health in 2022, four in ten American adults have obesity, and obesity rates continue to climb nationwide and within population groups.
- The United States accounts for the largest share of the obese population and the highest rate of the diabetic population in North America. Therefore, monk fruit sweeteners and food and beverage products attract health-conscious consumers in this region.
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Monk Fruit Sweetener Industry Overview
The global market for monk fruit sweeteners is fragmented, owing to the presence of prominent regional and international players. Emphasis is given to mergers, expansion, acquisitions, partnerships with the companies, and new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Prominent market players include Archer Daniels Midland Company, Tate & Lyle Plc., GLG Life Tech Corp., Monk Fruit Corp., and Steviva Brands Inc.
Monk Fruit Sweetener Market Leaders
Archer Daniels Midland Company
Tate & Lyle Plc.
GLG Life Tech Corp.
Monk Fruit Corp.
Steviva Brands, Inc.
*Disclaimer: Major Players sorted in no particular order
Monk Fruit Sweetener Market News
- November 2022: Lakanto, a leading global brand from Saraya Japan, brought the benefits of Monkfruit-based sweetener to Indian consumers. Lakanto comes from the house of Saraya, which is into manufacturing and selling health and hygiene products and services.
- July 2022: Swerve, owned by Whole Earth Brands, expanded into offering monk fruit and allulose sweetener offerings, which are zero-sugar and zero-calorie-based offerings.
- November 2021: Ecoideas showcased its product innovation by launching organic monk fruit with erythritol sweetener. The launch expands the current line of monk fruit sweeteners of the company. The product can be substituted for traditional sweeteners and added to recipes as glaze, icing, or as a garnish for baked goods.
Monk Fruit Sweetener Market Report - Table of Contents
1.1 Study Assumptions and Deliverables
1.2 Market Defination
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.3 Distribution Channel
5.3.2 Convenience Stores
5.3.3 Online Channels
5.3.4 Other Distribution Channel
5.4.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.4.3 Asia Pacific
184.108.40.206 Rest of Asia-Pacific
5.4.4 South America
220.127.116.11 Rest of South America
5.4.5 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 United Arab Emirates
126.96.36.199 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Archer Daniels Midland Company
6.3.2 Tate & Lyle Plc.
6.3.3 GLG Life Tech Corp.
6.3.4 Monk Fruit Corp.
6.3.5 Steviva Brands, Inc.
6.3.6 Layn Corp.
6.3.7 Firmenich SA
6.3.8 NOW Health Group, Inc.
6.3.10 Pyure Brands LLC
6.3.12 Whole Earth Sweetener Co., LLC
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Monk Fruit Sweetener Market Research FAQs
What is the study period of this market?
The Monk Fruit Sweetener Market is studied from 2017 - 2027.
What is the growth rate of Monk Fruit Sweetener Market?
The Monk Fruit Sweetener Market is growing at a CAGR of 4.8% over the next 5 years.
Which region has highest growth rate in Monk Fruit Sweetener Market?
Asia Pacific is growing at the highest CAGR over 2017-2027.
Which region has largest share in Monk Fruit Sweetener Market?
North America holds highest share in 2021.
Who are the key players in Monk Fruit Sweetener Market?
Archer Daniels Midland Company, Tate & Lyle Plc., GLG Life Tech Corp., Monk Fruit Corp., Steviva Brands, Inc. are the major companies operating in Monk Fruit Sweetener Market.
Monk Fruit Sweetener Industry Report
Statistics for the 2023 Monk Fruit Sweetener market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Monk Fruit Sweetener analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.