Asia Pacific Natural Sweeteners Market Report and Forecast 2024-2032

Asia Pacific Natural Sweeteners Market Outlook

The Asia Pacific natural sweeteners market reached a value of USD 12.66 billion in 2023 and is expected to grow at a CAGR of 7.3% during 2024-2032 to reach a value of USD 23.59 billion by 2032.

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The Asia Pacific is the amongst the leading regions in the stevia industry, accounting for about 87% of the world’s total stevia production. China is the major producer of stevia in the region, accounting for about 91% of the total stevia production in the Asia Pacific. China has a huge consumer base which contributes to its domestic market whereas the increasing demand for stevia across the different parts of the world provides a boost to its overseas market as China is a major exporter of stevia. Japan is one of the leading consumers of stevia. Stevia accounts for almost 40% of the total sweeteners market share in Japan. Stevia contains up to 200 times the sweetness of sugar and, thus, is being widely incorporated into leading soft drinks such as Pepsi True and Coca Cola Life along with baked goods, candies, and other food products.

Latin America and North America are also emerging as the significant stevia markets, globally. The stevia demand is these regions have been driven by the increasing number of health-related problems like diabetes and obesity. The governments in the two regions are also condemning the use of sugar to control the increased number of health issues, which is further aiding the market. The food and beverage companies are also preferring natural sweeteners over artificial ones to meet the rising consumer demand for natural and low-calorie sweeteners. In Latin America and North America, the natural sweeteners find its maximum application in soft drinks while sports nutrition and dairy are the other leading sectors in the regions.

Properties and Applications

Natural sweetener refers to a sweetener, which occurs naturally in plants and in other sources, rather than being prepared in a lab. They can be categorised as stevia, maple syrup, raw honey, molasses, and coconut sugar, among others. Based on intensity, the industry can be divided into:

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• High-Intensity Sweeteners 
• Low-Intensity Sweeteners

Natural sweeteners find their applications in sectors like food, beverages, pharmaceuticals, and personal care, among others. They are distributed in the market via hypermarkets/supermarkets, convenience stores, retail stores, online retailers, and others.

The report provided by EMR focuses on the regional markets of the product like China, Japan, India, and Korea, among others.

Market Analysis

The Asia Pacific natural sweeteners industry is being driven by the rising health concern among the consumers, resulting in an increased demand for the healthy products. As the consumers have become more health-conscious, the demand for drinks with low sugar and low-calorie content has increased. Thus, producers are opting for low-calorie and efficient alternatives for sugar like stevia, further propelling the Asia Pacific natural sweeteners industry forward.

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The food and beverage sector has seen a healthy growth in the region, which is also aiding the growth of the Asia Pacific natural sweeteners industry. The companies are preferring natural sweeteners over the artificial ones to meet the growing demand for healthier products. More than 5,000 food and drink products now contain steviol glycosides (an active compound of stevia). It was estimated that steviol glycosides have the potential to replace about 30% of all dietary sweeteners in the coming years.

Globally, the natural sweeteners industry is being driven by the growing incidences of lifestyle and sugar-related diseases. In Latin America and North America, the use of natural sweeteners has increased due to the rise in the cases of diabetes and obesity among the people, thus, driving the industry further. In 2016, 30.3 million Americans or 9.4% of the population was diagnosed with diabetes, which is further growing by 1.5 million every year. The governments in the regions is also condemning the use of sugar by applying high levies on sugary products or sugar. Countries like Mexico and U.S. are contributing to the growth of the natural sweeteners industry by producing and exporting non-alcoholic beverages.

Competitive Landscape

The report gives a detailed analysis of the following key players in the Asia Pacific market for natural sweeteners, covering their competitive landscape, capacity, and recent developments like mergers and acquisitions, investments, capacity expansion, and plant turnarounds:

• PureCircle Limited
• Cargill, Incorporated
• Archer Daniels Midland Company
• Ingredion Incorporated
• Tate & Lyle PLC
• SteviaPac Food Innovation
• Layn Corporate
• Zhucheng HaoTian Pharm Co.,Ltd
• Sunwin Stevia International, Inc
• Others

The EMR report provides an in-depth analysis of the industry based on SWOT and Porter’s five forces analysis.

Key Highlights of the Report