Vietnam Food Sweetener Market Report and Forecast 2024-2032

Vietnam Food Sweetener Market Outlook

The Vietnam food sweetener market size is projected to grow at a CAGR of 2.1% between 2024 and 2032. The major forces driving the food sweetener market growth in Vietnam are flourishing food industry, rising disposable incomes, and changing food preferences.

Key Trends in the Market

Food sweeteners refer to ingredients that are used for sweetening and enhancing the taste of different food products and beverages. These products can be natural or artificial and are used in different processes including caramelisation and baking, among others. The different type of food sweeteners include sucrose, starch sweeteners and sugar alcohols, and high intensity sweeteners, among others.

• The wide applications of sweeteners in the food and beverage sector for preparing various products, including confectionery, carbonated beverages, ice cream, and many others, support the Vietnam food sweetener market growth. This increased adoption can be attributed to its ability to disperse ingredients like colours and flavours; role as a bulking agent or filler and a carrier for trace ingredients; and ability to enhance the texture of certain products.

• The increasing consumption of natural and organic products due to rising health consciousness and environmental awareness among the regional population is supporting the market for natural sweeteners in Vietnam. The leading market players are actively investing towards the development of natural and nutritive sweeteners that can replicate the functionality and taste of traditional sweeteners.

• The increased demand for food sweeteners especially from the beverages sector for producing carbonated and flavoured drinks significantly contributes to the market expansion. Moreover, the leading beverage companies are increasingly investing in research and development of products utilising low-calorie sweeteners to meet the changing consumer demands. Coca-Cola uses a blend of aspartame and acesulfame potassium (or Ace-K) to sweeten Coke Zero Sugar, enabling them to label it as “sugar-free” or “diet.”

Vietnam Food Sweetener Market Analysis

Based on product type, the market is classified into sucrose (common sugar), starch sweeteners and sugar alcohols, and high intensity sweeteners (HIS), among others. The starch sweeteners and sugar alcohols segment is further divided based on type into dextrose, high fructose corn syrup (HFCS), maltodextrin, sorbitol, and xylitol, among others. Meanwhile, the high intensity sweeteners (HIS) segment is sub-divided by type into sucralose, aspartame, saccharin, ace-K, stevia, and neotame, among others.

On the basis of application, the Vietnam food sweetener market segmentation includes dairy, bakery, soups, sauces and dressings, confectionery, and beverages, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter’s five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Tate & Lyle PLC

• Cargill, Incorporated

• Ingredion Incorporated 

• Ajinomoto Co., Inc 

• Heng Li (Vietnam) Food Sweetener Technology Co., Ltd  

• Teros SAS  

• Vinh Nam Anh Co., Ltd. 

• TTC Group 

• Lam Son Sugar Cane Joint Stock Corporation (Lasuco)

• QUANG NGAI ROAD JOINT STOCK COMPANY 

• Others

Vietnam Food Sweetener Market Share by Product Type

Sucrose is widely used in the Vietnamese food and beverage sector, accounting for a significant share of the total market value. This disaccharide is made up of fructose and glucose and is commercially produced from sugar beets and sugarcanes. This sweetener is used for enhancing the taste and sweetness of a wide variety of food products and beverages including cakes, milkshakes, tea, and coffee, among others. Sucrose also finds applications in different pharmaceutical products, for enhancing the taste of certain medicines.

Vietnam Food Sweetener Market Share by Application

The usage of food sweeteners in bakeries is anticipated to witness a significant growth over the forecast period. This growth can be attributed to the ability of these sweeteners to enhance the taste and texture of baked products. Sweeteners also have an impact on the texture, fermentability, colour, and appearance of baked goods. The increasing consumption of packaged baked goods owing to their convenience further adds to the food sweetener market demand in Vietnam.

Competitive Landscape

Tate & Lyle PLC., established in 1921, is a prominent player in the food and beverage sector and specialises in the production of food sweeteners. The company aims to keep up with the current trends and the ever-changing requirements of their customers.

Cargill, Incorporated, founded in 1865, is one of the leading manufacturers of food products and ingredients and also offers solutions for sectors like agriculture and industrial products.

Ingredion Incorporated, founded in 1997, is dedicated towards providing the best taste experience to their customers. The company is known for delivering high-quality and innovative products including non-GMO sweeteners and others.

Other food sweetener market players in Vietnam include Ajinomoto Co., Inc, Heng Li (Vietnam) Food Sweetener Technology Co., Ltd, Teros SAS, Vinh Nam Anh Co., Ltd., TTC Group, Lam Son Sugar Cane Joint Stock Corporation (Lasuco), and QUANG NGAI ROAD JOINT STOCK COMPANY, among others.

Key Highlights of the Report