The global natural sweeteners market is likely to gain substantial growth momentum over the coming years owing to the increasing product adoption as a sugar alternative, mainly in bakery, frozen desserts, beverages, dairy products among others. Additionally, growing awareness regarding the numerous health benefits of the product would also complement the industry share.
Sweeteners are substances that are used for improving the palatability and shelf life of food products. Natural sweeteners are those products that may contain calories but also supply some essential nutrients. As per the United State Department of Agriculture, certain natural sweeteners like date paste or banana puree provide health-based benefits owing to their fiber content.
These health-based benefits include reduction in the risk of heart disease, decrease in cholesterol levels, and boosting of blood pressure in a healthy manner among others.
Global natural sweeteners market is bifurcated into different segments in terms of product, application, and regional landscape.
With respect to product the global natural sweeteners market is classified into agave, xylitol, raw honey, monk fruit, stevia, and others such as thaumatin, brazzein, and glycyrrhizin. Among these, raw honey segment is expected to grow at a CAGR of around 3.3% over the forecast time period. Raw honey is considered as one of the best natural sweeteners. The product is also packed with antioxidants, vitamin B6, potassium, niacin, zinc, riboflavin, phosphorous, calcium, iron, and enzymes. All together these vital nutrients neutralize free radicals, simultaneously encouraging the growth of healthy bacteria in the digestive tract.
Agave product segment is slated to grow at a CAGR of more than 3.7% through the forthcoming time period. Agave nectar is considered low in glucose and does not increase the levels of blood sugar. It further gives the sweeteners a low glycemic index. This health benefit is likely to stimulate the segmental growth.
In terms of application, the overall natural sweeteners market is categorized into beverages, frozen desserts, dairy, confectionary, bakery, sports supplements, and others. The others comprise of sauces & dressings, personal care & cosmetics, and pharmaceutical products. Among these, dairy segment is anticipated to reach a valuation of approximately $1.37 billion by the end of the analysis timeline and is likely to grow at a CAGR of more than 4.1% over the forecast time period.
Meanwhile, frozen dessert segment is projected to grow at a CAGR of nearly 3.8% over the forecast time period. The others segment is expected to grow at a CAGR of around 3.1% throughout the review period.
From a regional frame of reference, Latin America natural sweeteners market is expected to reach a valuation of nearly $372.23 million by the end of the analysis timeline and is expected to grow at a CAGR of more than 4.7 % over the forecast time period. Meanwhile, natural sweeteners market in Middle East & Africa is likely to reach approximately $743.23 million by the end of the analysis timeline. The region is further estimated to grow at a CAGR of more than 3.6% over the forthcoming time period.