Naturally Derived Sweeteners Market size is estimated to reach $4.1Billion by 2026, growing at a CAGR of 5.9% during the forecast period 2021-2026. Natural sweeteners are carbohydrates obtained from vegetables, roots, seeds and nuts. Natural sweeteners contain calories and nutrients that are metabolized as they pass through the body. Increase in the demand for low-calorie products, rise in the prevalence of diabetes, growing demand for stevia products, rise in the investment by the major players, growing awareness regarding the healthcare alternatives, increase in the product launches based on the needs of the customer and growing applications of natural sweeteners in food and beverages industry are the factors that are set to drive the growth of the global market for the forecast period 2021-2026.
Naturally Derived Sweeteners Market Segment Analysis - By Product Type
The Global Naturally Derived Sweeteners Market based on the Product Type can be further segmented into Stevia, Palm Sugar, Honey, Coconut Sugar, Monk Fruit Sugar, Maple Syrup, and Others. The Stevia segment held the largest share in 2020 owing to the growing demand for low-calorie products. Stevia consists of eleven major steviol glycosides and it does not contribute carbohydrates or calories to the food and beverages it is added to. The growing demand for stevia products among the diabetic population is driving the growth of the market. Coconut sugar is estimated to be the fastest growing segment with a CAGR of 7.46% during the forecast period 2021-2026. This is owing to the factors such as increasing demand for natural products and growing awareness regarding the health benefits of coconut products.
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Naturally Derived Sweeteners Market Segment Analysis - By End User
The Global Naturally Derived Sweeteners Market based on the End User can be further segmented into Food and Beverages, Pharmaceuticals, Personal Care, Table Top Sweetener, and Others. Food and Beverages segment held the largest share in 2020 owing to the growing shift in the consumer preference towards natural sugar and increasing demand for innovative products from the customers. The increasing demand for natural products in food and beverages owing to the growing health consciousness among individuals is driving the growth of the market. Pharmaceuticals segment is estimated to be the fastest growing segment owing to the growing demand for natural products in pharmaceuticals and increase in the research and development activities. The non-toxic nature of natural sweeteners is propelling its demand in pharmaceuticals.
Naturally Derived Sweeteners Market Segment Analysis - By Geography
The Global Naturally Derived Sweeteners Market based on the Geography can be further segmented into North America, Asia-Pacific, Europe, and Rest of World (ROW). North America held the largest share with 34.86% of market in 2020. The growth in this segment is owing to the factors such as growing demand for stevia products, high availability of raw materials, and rise in the investment by the major companies. The growing consumption of low-calorie and sugarless products among the diabetic population in the region is driving the growth of the market. Asia-Pacific is estimated to be the fastest growing segment owing to the factors such as increase in the health consciousness among individuals and growing demand for natural sweeteners in food and beverages and pharmaceuticals.
Naturally Derived Sweeteners Market Drivers
Growing awareness regarding healthy foods
The consumers are getting aware of their nutritional needs owing to the growing awareness regarding healthcare alternatives. Hence consumers are shifting towards healthier and natural products with respect to the consumption of food and beverage products, which is propelling the growth of the Naturally Derived Sweeteners Market.
Increase in the demand for low-calorie and sugarless products
There is a rapid increase in the demand for low-calorie and sugarless products owing to the growing prevalence of diabetes and obesity among the consumers across the world, which is estimated to enhance the growth of the Naturally Derived Sweeteners Market.
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Naturally Derived Sweeteners Market Challenges
High costs of production
The procurement of raw materials for the production of artificial sweeteners is easy when compared to natural sweeteners and the costs of the raw materials for natural sweeteners is higher than the chemicals used in the manufacturing of artificial sweeteners, which is one of the major factors that is estimated to reduce the growth of the Naturally Derived Sweeteners Market.
Naturally Derived Sweeteners Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Naturally Derived Sweeteners Market. Key companies of this market are Tate and Lyle Plc, Archer Daniels Midland Company, Cargill, GLG Lifetech Corporation, PureCircle Ltd, E. I. du Pont de Nemours and Company, Wisdom Natural Brands, Evolva Holding SA, Merisant Company, SweeGen Inc among others.
Acquisitions/Product Launches:
In 2020, Tate and Lyle Plc has announced the acquisition of Sweet Green Fields (SGF), a leading global stevia solution business to bring a broad portfolio of stevia natural sweetener products.
In 2020, Cargill has launched SweetPure M wheat and Barley Malt Syrup natural sweetener developed for bakery, cereal and snack bar applications.
Key Takeaways
Geographically, North America Naturally Derived Sweeteners Market accounted for the highest revenue share in 2020 and it is poised to dominate during the forecast period 2021-2026 owing to the growing demand from diabetic population.
The growing demand for low-calorie products is driving the segment of stevia natural sweetener.
High costs of production is one of the major factors which is said to reduce the growth of Naturally Derived Sweeteners Market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Naturally Derived Sweeteners Market report.
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