Sweeteners Market Reach Valuation of ~US$ 731 Bn By 2030
Sweeteners Market: Introduction
A recent study published by Transparency Market Research on the sweeteners market
includes global industry analysis and opportunity assessment for 2020-2030. The
global sweeteners market is expected to be valued at ~US$ 489 Bn in 2020, which is
projected to rise at a CAGR of 4%, to reach US$ 731 Bn by 2030.
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Increasing Demand for Plant-based Sweeteners Augmenting Market
The rising demand for plant-based sweeteners or products improves prospects for companies
that seek to sustain their position in the consolidated sweeteners market. The use of stevia,
molasses, honey, palm sugar, coconut sugar, monk fruit, and other plant-based sweeteners in
beverages and packaged food is expected to increase the market’s reach in existing regions as
well as penetrate deeper into untapped markets worldwide. Furthermore, new product
offerings, especially in the developed countries such as US, where stevia is recognized as
GRAS product, is likely to boost the stevia market in the near future, thereby supporting
growth of the global sweeteners market.
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Increasing Consumer Expenditure on Healthcare Boosting Sales of Natural Sweeteners
The cost of healthcare has increased at a rate as fast as general inflation, mainly due to the
widespread research and development activities in the pharmaceutical industry.
According to the Australian Institute of Health and Welfare, an estimated US$ 185.4 Bn was
spent on health goods and services in Australia in 2017–18, equating to an average of
approximately US$ 7,485 per person.
Increasing cost of healthcare has compelled peopl