Demand for Natural and Healthier Food Alternatives to Augment Market
Consumer preferences continue to evolve at a rapid pace. At present, a tectonic shift toward healthier food products and alternatives can be observed within the food sector. As more number of consumers continue to walk down the wellness and health-conscious road, innovations within the food sector have accelerated over the past few years. Amidst the growing consumer affinity toward healthier food products and alternatives, the production of novel food products, including sweeteners is on the rise. Players operating in the global sweeteners market are projected to launch innovative artificial and natural sweeteners during the forecast period, as the adoption of sweeteners continue to grow across the world.
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The paradigm shift toward a healthier lifestyle, along with continual research is some of the major factors that are likely to propel the growth of the sweeteners market during the assessment period. As consumer awareness pertaining to the functional properties of different ingredients, quality of food products, sourcing of ingredients and other key parameters continues to grow, the adoption of sweeteners is moving in the upward trajectory worldwide. In Europe and North America, the rising demand for natural food products has led to the production of plant-based sweeteners, which in turn is projected to boost the expansion of the global sweeteners market. At the back of these factors, the global sweeteners market is expected to attain a market value of ~US$ 731 Bn by the end of 2027.
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Health-conscious Consumers to Influence Growth of Sweeteners Market
In the current day and age, consumer trends play an important role within the food & beverages sector. Technological advancements, innovations in food production, and access to information pertaining to multiple food products are some of the leading factors that have led to a steady rise in demand for novel food ingredients, including sweeteners. The health-conscious trend is set to continue during the forecast period, which in turn is likely to boost the demand for natural sweeteners. Within the sweeteners market, the demand for natural sweeteners is significantly higher than that of artificial sweeteners– predominantly driven by the growing affinity toward natural food products. Consumer demand for zero-added sugar, free-form sugar, and low-sugar products has played an important role in driving the sales of sweeteners across the world. Several companies operating in the current sweeteners market landscape are increasingly investing resources toward the development of innovative sweeteners that comply with regulations and guidelines laid down by the Food and Drug Administration (FDA).
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Companies to Focus on Product Launches, Innovations to Fulfil Consumer Demand
In the past few years, consumer demand for natural food products has witnessed exponential growth due to which, the production of natural and plant-based sweeteners has gained momentum. Several brands are leveraging the advancements in the enzyme technology to launch innovative sweetener alternatives. Several companies are also anticipated to rely on enzyme engineering to enhance improve the production of sweeteners. For instance, biotech company e-LEcta announced that the company is set to enhance the production of zero-calorie plant-based sweetener by collaborating with sweetener manufacturers in the region. The company aims to leverage its enzyme engineering expertise to and produce large volumes of plant-based sweeteners to fulfill the mounting demand from beverage manufacturers.
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