A Growing Consumer Preference for Clean label Products Enables the Market Expansion of Natural Sweeteners
The increasing prevalence of lifestyle diseases such as diabetes and obesity, coupled with a growing consumer inclination towards healthy lifestyles, are driving the demand for no- or low-calorie food products and, in consequence, the growth of the global alternative sweetener market. Additionally, the growing beverage market in both developed and developing economies boosts the alternative sweeteners market as well. Finally, the rising prices of sugar-sweetened beverages due to taxes are changing consumer purchase patterns and will drive the adoption of alternative sweeteners across different beverages.
Geographically, Asia-Pacific (APAC) dominated the global alternative sweeteners market by volume in 2022 due to a dramatic increase in fast-food consumption and growth in the fast-food industry in APAC. However, North America dominated the alternative sweeteners market by revenue due to the high prices of alternative sweeteners in the region, to a certain extent, because of its import dependency on China. The publisher expects APAC to show the fastest growth during the forecast period due to growth in the regional food and beverage industry, the high prevalence of lifestyle diseases, and growing consumer awareness of healthier lifestyles.
This analysis considers exogenous factors, such as the impact of the Russo-Ukrainian War and inflation. The application scope of the study is restricted to food and beverage. Finally, the study scope includes qualitative insights of some selected novel alternative sweeteners, caloric and non-caloric.
