Speciality Sweeteners Market

Specialty Sweeteners Market Size and Growth Rate Analysis:

Specialty Sweeteners Market is expected to experience moderate growth to record a CAGR of 5.5% throughout the forecast period 2022 - 2027. Specialty sweeteners are used as food additives to stimulate a feeling of sweetness during consumption. Researchers have advanced and found the sugar substitute to sweeten foods, which is called specialty sweeteners. The usefulness of Speciality sweeteners is increasing worldwide, while the use of sugar has become less and less prevalent in the past decade. Speciality sweeteners are widely associated with the food and beverage industry as an ingredient. It has obtained a great response in the manufacture of food products due to its flavor, convenience and nutritional benefits. Consumers are changing their preference for healthy and safe products. Increasing awareness of the health benefits of reducing sugar consumption is driving demand for Speciality sweeteners. 

Impact of COVID-19 on global Speciality Sweeteners Market:

The COVID-19 (Coronavirus) pandemic has forced many companies in the specialty sweetener market to suspend their business activities to comply with new government decisions. This operational disruption has a direct impact on the revenue stream of the specialty sweetener market. Therefore, companies in the specialty sweetener market can purchase our reports, which present a new analysis of COVID-19 and its impact on the market landscape. Growing consumer demand for sugar-free products is expected to spur growth in the global specialty sweetener market. Consumers are turning to forgiving food to help them overcome disorders caused by COVID-19. American consumers purchased approximately 50% more salty snacks in March than in the same period last year, as sales of potato pretzels and popcorn increased 30% respectively. As consumers face the possibility of spending weeks at home, retailers are moving away from low-calorie snacks in favor of long-lasting, non-perishable options. Snack brands like Frito-Lay, Pringles and Herrs are seeing unexpected demand for their products.

Recent Developments

1. February 2018: GLG Life Tech Corp launched its Reb M line of sweeteners in collaboration with Archer Daniels Midland Company. These sweeteners are made from GLG Life Tech's exclusive Reb M Dream Sweetener high stevia leaf.
2. In February 2018, PepsiCo added aspartame to its flagship product Diet Pepsi. PepsiCo adds aspartame to its flagship Diet Pepsi. The company removed the controversial ingredient in 2015 but recovered it in limited quantities a year after reactions from brand loyalists. The aspartame-free version will continue to be available, but only through e-commerce.
3. In March 2019, the world's leading producer and innovator of stevia-based sweeteners, PureCircle announced that it had received approval for the extended use and applications of its next generation of stevia leaf sweetener, Reb M, in Singapore. This allows food and beverage companies to use this delicious flavor ingredient in the low calorie and low-calorie products sold in Singapore.
4. Amyris, Inc., a leader in the development and production of sustainable ingredients for the health and wellness, clean beauty and fragrance and fragrance markets, has announced the acceleration of the commercialization of its new sweetener derived from sugar cane calorie-free in 2019. Amyris and its partners are launching the next wave of sweeteners that are better for you, better for the planet.
5. Graycliff Partners LP is pleased to announce that it has completed the acquisition of Sweeteners Plus, Inc. ("Sweeteners"), a manufacturer and distributor of liquid and dry essential sweeteners for restaurants, specialty drinks, bakeries, confectionery and pharmaceuticals, among others.
6. In July 2008, Chr. Hansen sold its Speciality sweeteners division to American Sugar Refining as part of its refocusing strategy in the United States. Shortly after PAI Partners acquired Chr Hansen last year, it was decided to divest from the company's sweetening activities.

Market Drivers and Restraints:

Food manufacturers are aware of consumer demand for sugar-free products due to its various benefits, such as a lower risk of disease and illness, low calorie food, weight loss, etc. The growing admiration and consumption of sugar-free products is anticipated to absolutely stimulus specialty sweeteners. The urbanization and increasing popularity of healthy foods have made consumers more focused on sugar-free diets. Various advantages related to specialty sweeteners have augmented the call for sugar-free products, such as confectionery, household consumption, baked goods, and others. The graphical representation of the consumption of sugar substitutes is an encouraging trend that should stimulate the market for special sweeteners, although end user industries are still looking for an ideal substitute for sugar, current practice is to adopt a 'mix approach to meet the flavor and functionality associated with sweetening agents. The shift from consumers to private label, sugar-free products has led to demand for specialized sweeteners. The growth of these specialty sweetener applications is expected to increase their utility in the manufacture of sugar-free foods. 

Bakery and confectionery products are emerging with strong demand from consumers around the world. These sectors use a large number of special sweeteners in the manufacture of their products. Among specialty sweeteners, the demand for nutritive sweeteners dominated the market due to their natural and healthy properties associated with non-nutritive sweeteners. They are caloric sweeteners and tend to digest in the body. Therefore, it contains a value for dietary energy in the form of carbohydrates. Manufacturers use sweeteners for their flavor and textural benefits in the manufacture of various food products. Aspartame, neotame and others are different types of non-nutritive sweeteners popular on the market. The demand for bakery and confectionery products is increasing, as is the consumption of specialized sweeteners in the market. IDT's fruit-based products and beverages are other sectors where special sweeteners are used. The manufacturing cost of specialized sweeteners is quite high, which translates to the final cost of the products. The accessibility factor in several developing countries allows consumers to buy real sugar, which is available at low market prices.

Specialty Sweeteners Market Segmentation Analysis:

Based on Application:                 

• Food sector            
• Confectionary
• Baked products
• Frozen desserts
• Others
• Beverages sector  
• Others       

Based on Type:                             

• Natural     
• Artificial    

Regional Analysis

The global Speciality Sweeteners market has been categorized based on geography into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. Asia Pacific is among the leading consumers of these sweeteners across the world. Consumers are looking for sugar-free products to control various diseases, which is raising the call for sweeteners among consumers. The increasing disposable income and health awareness among consumers is developing the need in several nations like India and China. There is surge in population, resulting in more obesity and diabetic patients. Diabetic patients prefer special sweeteners to avoid associated disease problems, which are expected to increase sales of special sweeteners in the region. Sugar sickness is a big health problem in this locale. The root cause of diabetes is attributed to adiposity (obesity) and this energy imbalance is very significant, especially in urban India. According to official estimates from the World Health Organization (WHO), there has been a tremendous 100% growth in diabetic patients in India in the last 15 years. Aspartame and sucralose are the best known sweeteners in the SU segment. Stevia is also experiencing significant demand in the natural sweeteners category.

Leading Company:

Cargill Inc. had the largest share of the Speciality Sweeteners Market in terms of sales revenue in 2020.

Leading Key Companies Covered in this market are:

Some of the major companies dominating the market, by their products and services include Coca Cola Company, PepsiCo.Inc, Cargill Inc., Nestle S.A, Ingredion, Roquette, Tate &Lyle, Evolva Holding, Florida Crystal, Galam, GLG Life Tech, Herboveda, Hermes Sweetener, Imperial Sugar, Ingredion, JK Sucralose, McNeil Nutritionals, Morita Kagaku Kogyo, NutraSweet, Pure Circle, Sunwin Stevia International, US Sugar, Wisdom Natural Brands, Zevia, and Zydus Wellness.