Vietnam Food Sweetener Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Vietnam Food Sweetener Market is segmented by Type into Sucrose, Starch Sweeteners and Sugar Alcohols and High Intensity Sweeteners; by Application into Dairy, Bakery, Beverages, Soups, Sauces and Dressings, Confectionery and Others.

Market Snapshot

Snapshot
Study Period: 2016 - 2026
Base Year: 2021
CAGR: 2.24 %

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Market Overview

Vietnam Food Sweetener Market is growing at a CAGR of  2.24% during the forecast period(2020-2025).

  • Vietnam market is driven by the growing economy and stable financial conditions. This has led to the increase in disposable income and spending patterns.
  • Increased demand of natural, non-caloric sweeteners, and high demand for sweeteners in various applications, such as processed food and beverages from emerging economies, are the major factors driving the market growth.
  • The increase in confectionary sector of the country has also led to the growth of sweetener market in the nation.

Scope of the Report

Vietnam Food Sweetener Market is segmented by Type into Sucrose, Starch Sweeteners and Sugar Alcohols and High Intensity Sweeteners. The  market is segmented by Application into Dairy, Bakery, Beverages, Soups, Sauces and Dressings, Confectionery and Others.

By Product Type
Sucrose (Common Sugar)
Starch Sweeteners and Sugar Alcohols
Dextrose
High Fructose Corn Syrup (HFCS)
Maltodextrin
Sorbitol
Xylitol
Others
High Intensity Sweeteners (HIS)
Sucralose
Aspartame
Saccharin
Cyclamate
Ace-K
Neotame
Stevia
Others
By Application
Dairy
Bakery
Soups, Sauces and Dressings
Confectionery
Beverages
Others

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Key Market Trends

Growing Confectionery Sector

The confectionery market in Vietnam is driven by the increase in demand for premium chocolates, along with innovation in packaging and several product launches. Additionally, gifting of chocolates has been a key trend in Vietnam for premium chocolate confectionery, as consumers see these items as luxury products. The high content of sugar in chocolates and candies is likely to hamper market. The health-conscious consumers have turned to snack bars and other categories of snacks that are perceived to be healthier and part of low-caloric diet, which opens an opportunity for the sweetener market.

Confectionary

Saccharine Is A Major Sweetener In The Region

Saccharin, is the oldest low-calorie sugar substitute, is 300 times sweeter than sugar, and provides no calories. It is available in the form of sweet and low or sugar-free brands. Saccharin finds its usage in confectionery industry for the manufacture of mints and candies. It is largely used in sugar-free cakes and in packaged desserts, as it is not affected by heat. The number of elderly is growing and this upward trend will clearly continue in the near future, this leads to the increasing demand of low sugar and low calorie foods.

Saccharin

Competitive Landscape

Vietnam food sweetener market is a fragmented market with the presence of various local and major players. The major players are investing in the development of new products. To expand their presence in the market, strategies such as acquiring smaller production units and mergers with the already existing players are being adopted. The leading players in this segment are Cargill, Kerry Group, Stevia First Corporation, and Tate and Lyle Plc.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Sucrose (Common Sugar)

      2. 5.1.2 Starch Sweeteners and Sugar Alcohols

        1. 5.1.2.1 Dextrose

        2. 5.1.2.2 High Fructose Corn Syrup (HFCS)

        3. 5.1.2.3 Maltodextrin

        4. 5.1.2.4 Sorbitol

        5. 5.1.2.5 Xylitol

        6. 5.1.2.6 Others

      3. 5.1.3 High Intensity Sweeteners (HIS)

        1. 5.1.3.1 Sucralose

        2. 5.1.3.2 Aspartame

        3. 5.1.3.3 Saccharin

        4. 5.1.3.4 Cyclamate

        5. 5.1.3.5 Ace-K

        6. 5.1.3.6 Neotame

        7. 5.1.3.7 Stevia

        8. 5.1.3.8 Others

    2. 5.2 By Application

      1. 5.2.1 Dairy

      2. 5.2.2 Bakery

      3. 5.2.3 Soups, Sauces and Dressings

      4. 5.2.4 Confectionery

      5. 5.2.5 Beverages

      6. 5.2.6 Others

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Tate & Lyle PLC

      2. 6.4.2 Cargill Incorporated

      3. 6.4.3 Ingredion Incorporated

      4. 6.4.4 Ajinomoto Co., Inc.

      5. 6.4.5 PureCircle Limited

      6. 6.4.6 Kerry Group

      7. 6.4.7 Tereos S.A.

      8. 6.4.8 *List is not Exhaustive

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Vietnam Food Sweetener Market market is studied from 2016 - 2026.

The Vietnam Food Sweetener Market is growing at a CAGR of 2.24% over the next 5 years.

Cargill, Tate & Lyle, Ingredion, PureCircle are the major companies operating in Vietnam Food Sweetener Market.

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