Non-sugar sweetener market worth USD16.5bn in 2023

Citing increased health awareness and a growing diabetic population as among reasons for the growth in non-sweeteners use, BCC Research says that by year 2023, the market would be worth $16.5 billion, or up from $14.4 billion, indicating a compound annual growth rate (CAGR) of 2.7%.

Non-sugar sweeteners are sugar substitutes that provide the sweetness of sugar with fewer calories. The three major types of non-sugar sweeteners are: high-fructose corn syrup (HFCS), high-intensity sweeteners (HIS) and low-intensity sweeteners (LIS).

Highlights of the new report include:

• Market segment analysis. The high-intensity sweeteners segment holds the largest share of the non-sugar sweetener market at 48% and is expected to grow to 50.1% by 2023, continuing to hold the largest share in the market.
• End-User analysis. The food and beverage industry generates more than 80% of the global sales for non-sugar sweeteners and is expected to be valued at $12.35 billion by 2023, increasing 2.7% annually.
• Geographic analysis. North America accounts for the highest market share of the global non-sugar sweeteners market at 5.25 billion in 2018 and is expected to continue leading in global market share by reaching $6.13 billion by 2023, indicating a 3.1% CAGR.
• “Major factors driving demand for non-sugar sweeteners are changing eating habits, the increasing risk of diabetes and increasing health awareness…awareness about the harmful effects of sugar intake, such as lowered cognitive abilities, inflammations and blood pressure, among others, are also driving demand,” said BCC Research analyst Aneesh Kumar.

Potential Harmful Side Effects

While artificial sweeteners are useful for weight control and are safe for diabetic patients to consume, they may have undesirable side effects. For example, the National Cancer Institute has said that it’s possible that artificial sweeteners are associated with cancer.

BCC names A&Z Food Additives Co. Ltd., Naturex, Whole Earth Sweetener and Celanese Corp (CE) the major competitors in the global non-sugar sweeteners market.