The food sweeteners industry is expanding as a result of rising customer preference for natural sweeteners and rising demand for natural sweeteners. The rising incidence of lifestyle diseases like diabetes and obesity is fueling a spike in demand for natural sweeteners. Nearly one in three persons (30.7%) are overweight, according to 2017–2018 National Health and Nutrition Examination Survey (NHANES) data. Over 2 in 5 adults (42,4%) are obese, and 9.2% of adults (or 1 in 11) are very obese. In wealthy nations, increasing sweetener production capacity to satisfy rising demand is once more fueling market expansion. In order to lose weight, about 50% of consumers are reducing their sugar intake, and 56% are doing so due to potential health issues in the future. The appropriate combination of sweeteners can, however, replace sugar with up to 50% less sweetness without affecting the flavour noticeably. There is an increase in demand for natural substitutes as a result of higher sugar taxes designed to encourage consumers to consume less of it. For the important players, this presents huge growth prospects.
According to Coherent Market Insights, The size of the global market for Food Sweeteners, estimated at USD 85,347.89 million in 2021, is projected to rise at a compound annual growth rate (CAGR) of 2.47% from 2022 to 2030.
Major Players in the Food Sweetener Industry:
1. Tate & Lyle PLC
The company was started in 1921 and has its headquarters in London, United Kingdom. The business creates and distributes products and solutions for the global food, beverage, commercial, and agricultural sectors. Tate & Lyle announced a rebrand in January 2023 that featured new images, a new narrative, a new logo and font, and solutions for society, science, and solutions. Tate & Lyle had finished buying Quantum Hi-Tech (Guangdong) Biological Co., Ltd. (Quantum) in June 2022.
2. Cargill Incorporated
The company was started in 1865 and is located in Minnesota, United States. In addition to producing grains and oilseeds, the company also offers risk management strategies, farmer services, animal nutrition, biofuels, meat and poultry, cuisine, and industrial goods. Cargill announced in January 2023 that it had successfully acquired Owensboro Grain Company. To enhance manufacturing capacity in Ecuador's prawn feed industry, Cargill must create a joint venture in October 2022.
3. Archer Daniels Midland Company
The business was established in 1902 and is based in Chicago, Illinois, United States. The business purchases, moves, stocks, and merchandises agricultural products and commodities. The business processes oilseeds, corn, milo, oats, wheat and barley. The joint ventures between LG Chem and ADM were announced in August 2022, along with the intended location for the production of lactic acid and polylactic acid in the United States.
4. DuPont de Nemours Inc.
The company was started in 1802 and is located in Wilmington, Delaware, USA. The company provides a wide variety of goods, including consumer goods, building supplies, adhesives, electronics, textiles, fibres, home and garden items, medical equipment, resins, and printing supplies. DuPont declared its intention to purchase Rogers Corporation in November 2021 in a deal estimated to be worth $5.2 billion.
5. Ingredion Incorporated
The company was founded in 1906 and has its main office in Westchester, Illinois, United States. The company serves a variety of sectors, including those in the food, soft drink, brewing, pharmaceutical, corrugating, paper, and textile industries. PureCircle, a producer of stevia sweeteners, was bought by Ingredion in 2020. Ingredion bought Katech, a German supplier of stabilisation and texturing solutions, in 2021.
6. Ajinomoto Co. Inc.
The business was founded in 1909 and is located in Tokyo, Japan. Seasonings, edible oils, processed meals, drinks, and dairy products are just a few of the food goods that the company makes and distributes. Additionally, the business produces and develops speciality chemicals, amino acids, and medications.
7. Tereos SA
The company was founded in 1999 and has its headquarters in Moussy-le-Vieux, France. The company sells ethanol, alcohol, starch-based goods, sugar, and other things. A cooperative corporation, Tereos focuses primarily on the markets for processed agricultural raw materials, especially sugar, alcohol, and starch.
Definition: A fantastic approach to sweeten food without adding calories or sugar is with food sweeteners. The body does not absorb the bulk of sucralose, an artificial sweetener that is nearly 600 times sweeter than table sugar.
