Plant Based Sweeteners Market Size Expected to Reach USD 5.7 Bn by 2033 | Rising Demand for Functional Foods & Beverages

Innovation in product development, increased availability, and effective marketing efforts are likely to further fuel the expansion of plant-based sweeteners market in the coming years.

New Jersey, May 06, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 3.1 billion in 2023 plant based sweeteners market will reach USD 5.7 billion by 2033. The need for plant-based sweeteners is growing as a result of ongoing changes in global food trends, product advancements in the food and beverage sector, and an increase in the use of natural products derived from plants. The global market for plant-based sweeteners is expected to grow quickly due to the certification of several sweeteners by regulatory bodies confirming their safety for human consumption, as well as the rising demand for low-calorie sweeteners.

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Key Insight of the Plant Based Sweeteners Market

Asia Pacific is anticipated to expand at the fastest CAGR of 12.6% over the projection period.

Asia Pacific is expected to grow at the fastest CAGR of 12.6% over the forecast period. There is a sizable and quickly expanding population in the Asia-Pacific area, especially in nations like China, India, and Indonesia. Changes in dietary habits brought about by urbanization and rising disposable incomes are creating a desire for natural and healthier food and beverage options, including plant-based sweeteners. Additionally, people are becoming more conscious of the value of good eating practices as their lifestyles become busier and more sedentary. Asia-Pacific consumers’ growing quest for alternatives to conventional sugars and artificial sweeteners is fueling the market for plant-based sweeteners, which are thought to be more natural and healthful.

In the Plant based sweeteners market, the stevia segment is anticipated to expand at the highest CAGR of 12.1% over the projection period.

The stevia segment is anticipated to expand at the highest CAGR of 12.1% over the projection period. Stevia is a naturally occurring sweetener that comes from the leaves of the Stevia rebaudiana plant. Demand for stevia-based sweeteners is being driven by its clean label appeal, which appeals to consumers looking for products with transparent and minimally processed ingredients. Additionally, sweeteners based on stevia have no calories, so people trying to watch their weight or cut back on calories can use them. Because stevia has no calories, it appeals to consumers who are health-conscious as a substitute for traditional sweets, especially in light of the rising global obesity epidemic.

In the plant based sweeteners market, the liquid segment is anticipated to expand at the highest CAGR of 11.2% over the projection period.

The liquid segment is anticipated to expand at the highest CAGR of 11.2% over the projection period. Convenient and simple to use, liquid plant-based sweeteners can be used in a variety of recipes, including drinks, marinades, sauces, and syrups. Their liquid nature makes it simple to mix and dispense, giving users a hassle-free sweetening option. Furthermore, there are several uses for liquid plant-based sweeteners in the food and beverage sector. They can be added to recipes for baking and cooking, sauces, and sweets, as well as to sweeten drinks like coffee, tea, smoothies, and cocktails. its adaptability increases its marketability and uptake.

In the plant based sweeteners market, the online segment is anticipated to expand at the highest CAGR of 13.4% over the projection period.

The online segment is anticipated to expand at the highest CAGR of 13.4% over the projection period. Online channels offer a broad distribution network that enables producers of plant-based sweeteners to connect with customers in both urban and rural regions. The market reach is extended beyond conventional brick-and-mortar retail establishments by this enhanced accessibility. Additionally, online purchasing provides customers with flexibility and convenience by enabling them to peruse, evaluate, and buy plant-based sweeteners either at home or on the road using mobile devices. This convenience element appeals to time-pressed shoppers who want hassle-free shopping.

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Report Scope and Segmentation –

Report Coverage Details
Forecast Period 2024-2033
Forecast CAGR 6.4%
2033 Value Projection USD 5.7 Billion
Market Size in 2023 USD 3.1 Billion
Historical Data 2020-2022
No. of Pages 238
Report Coverage Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered by Type, Form, Distribution Channel, Regions
Regions Covered The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Market Growth Drivers Increased demand for functional foods and beverages

Market Dynamics

Driver

The demand for items produced from plants, such as sweeteners, has increased due to the growing popularity of plant-based and vegan diets. These diets’ adherents’ preference for plant-based sweeteners over those made of artificial components or animal products is fueling the market’s expansion. Additionally, ongoing developments in plant-based sweeteners—such as enhanced taste profiles, solubility, and stability—have increased the range of industries in which they are used. The market is growing as a result of manufacturers’ investments in R&D to create novel and enhanced plant-based sweeteners.

Opportunity

Growing urbanization, increased disposable incomes, and growing health consciousness are driving growth in emerging markets for plant-based sweeteners. For manufacturers, increasing market share in areas where dietary preferences and habits are changing may open up new revenue opportunities. Additionally, producers of plant-based sweeteners now have the chance to reach a wider audience and forego conventional distribution channels thanks to the growth of e-commerce platforms and direct-to-consumer channels. Using internet channels for customer education, sales, and marketing could increase brand awareness and accessibility.

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Some of the major players operating in the Plant Based Sweeteners market are:

• Pyure Brands LLC.
• Steviahubindia
• Fooditive Group
• Foodchem International Corporation
• Evolva
• Wisdom Natural Brands
• GLG Life Tech Corp.
• MacAndrews & Forbes Incorporated.
• Cargill Incorporated
• Archer Daniels Midland Company (ADM)
• Ingredion
• DuPont
• Roquetee Freres

Key Segments cover in the market:

By Type

• Stevia
• Monk Fruit Sugar
• Sorbitol
• Xylitol
• Yacon
• Molasses
• Agave
• Lucuma Fruit Sugar
• Others

By Form

• Crystal
• Liquid
• Powder

By Distribution Channel

• Online
• Offline

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About The Brainy Insights:

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