Sweeteners Market

The market for sweeteners is projected to reach USD 125.1 billion by 2028 from 107.2 billion in 2023 at a CAGR of 3.1%. Consumers are increasingly seeking alternatives to traditional sugars, given their association with obesity, diabetes, and other health concerns. Additionally, the rise in lifestyle-related diseases has prompted a shift towards healthier dietary choices, fostering the demand for low-calorie and sugar-free sweeteners. Moreover, the increasing prevalence of conditions like diabetes has led to a surge in demand for sugar substitutes among health-conscious individuals. Food and beverage manufacturers are responding to this trend by incorporating various sweeteners into their products to cater to diverse consumer preferences. Technological advancements in sweetener production, including innovations in natural sweeteners like stevia and monk fruit, further contribute to market growth. As the health and wellness trend continues to gain traction globally, the sweeteners market is poised to expand, offering a broad spectrum of choices to meet evolving consumer needs.

Major manufacturers in this market are based in Europe and North America. Cargill, Incorporated (US), ADM (US), International Flavors & Fragrances Inc. (US), Ingredion Incorporated (US), Tate & Lyle (UK), Associated British Foods (UK), Südzucker AG (Germany),  and Ajinomoto Co., Inc. (Japan) are among a few leading players operating in the sweeteners market. These players have adopted various growth strategies including acquisitions and new product development activities to further expand their sweeteners market presence.

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Cargill, Incorporated

Cargill, Incorporated is a privately held company, involved in the production of a range of specialty food ingredients and industrial products for various applications. The company is divided into four business segments which are animal nutrition & protein, food ingredients & applications, origination & processing, and industrial & financial services. Through its food ingredients & applications segment, it offers sweeteners to food and beverage manufacturers, food service companies, and other retailers. Some of the specialty food ingredients it provides include acidulants, sugar sweeteners, starches, and protein ingredients. These ingredients are used in the bakery, beverage, dairy, and meat sectors to improve the appearance, taste, and stability of fresh meat, specialty meat products, and beverages.

Cargill, Incorporated operates in approximately 70 countries with an additional sales presence in nearly 125 countries across North America, Latin America, Asia Pacific, Europe, the Middle East, and Africa. Some of its subsidiaries include Cargill Meat Solutions (US), Cargill Enterprises Inc. (Russia), Cargill Asia Pacific Holdings Pte Limited (Singapore), Cargill RSA (Pty) Limited (South Africa), Cargill España SA (Spain), Cargill Nordic A/S (Sweden), Provimi (Netherlands), and NatureWorks (US).

In March 2021, Cargill, Incorporated (US) and DSM (Netherlands) underwent a joint venture called Avansya for commercial-scale production of EverSweet stevia sugar substitutes. This assisted in catering to the growing demand for reduced-calorie food and beverages.

ADM

ADM is a prominent global leader in the agricultural industry. Founded in Chicago, Illinois, ADM has a rich history spanning several years. The company is involved in the production, processing, transportation, and merchandising of agricultural commodities, products, and ingredients. ADM offers a diverse range of products that include food and beverage ingredients, animal feed, biofuels, natural flavors and colors, vegetable oil, corn sugar substitutes, flour, and health and nutrition products.

ADM’s Nutrition segment is particularly significant in the sweeteners market. The segment produces a range of food and beverage ingredients, including essential components such as sweeteners, glucose, and starch, which enhance the flavor, texture, and nutritional content of various food and beverage products.

ADM has manufacturing and processing facilities all over the world, through which it competes with other leading agricultural processors like Ingredion Incorporated (US) and Doehler Group (Germany). The company works closely with its customers, using extensive research to develop innovative solutions that accelerate growth and increase business efficiencies. ADM has a vast network spanning over 200 countries and operates through subsidiaries such as Golden Peanut Company LLC (US), ADM Milling (US), ADM do Brazil Ltd. (Brazil), and ADM Hamburg AG (Germany).

In March 203,  ADM (US) announced the signing of a joint venture agreement with Marel (Netherlands), a prominent provider of advanced food processing solutions. This joint venture facilitated the establishment of an innovation center at the esteemed Wageningen Campus in the Netherlands, which is known as the heart of the country’s food valley, and its opening is subject to regulatory approvals and is expected to take place in the latter half of 2024. It is specifically designed to facilitate the partnership between food manufacturers, food scientists, extrusion experts, and culinary professionals.

Associated British Foods PLC

Associated British Foods PLC (ABF) is engaged in the processing and manufacturing of food, ingredients, and retailing. It operates through five business segments, namely agriculture, retail,  sugar, grocery, and ingredients. ABF operates through various subsidiaries, some of which are AB Enzyme GmBH (Germany),  ABF Ingredients (UK), AB Agri (UK), AB Mauri (UK), ABITEC Corporation (US), ACH Food and Companies Inc. (US).

ABF Sugar comprises a conglomerate of agribusinesses that collectively employ 30,000 individuals and operate 20 facilities across nine countries. With an annual production capacity of approximately 4.5 million tonnes of sugar, the company cultivates over 330,000 hectares globally, collaborating with more than 25,000 growers. ABF Sugar specializes in the production of various products, including food, feeds, fuels, and other items derived from sugar cane, sugar beet, and wheat. Its operations span Africa, the UK, Spain, and China.
In Africa, the company conducts sugar cane operations in Eswatini, Malawi, Mozambique, South Africa, Tanzania, and Zambia, with packing operations in Rwanda. Notably, it holds the position of the largest sugar producer in Spain and is the sole processor of beet sugar in the UK, also ranking among the leading bioethanol producers. ABF Sugar extends its presence with a sugar business in China.

Within its markets, Associated British Foods plc boasts market-leading consumer brands such as Silver Spoon in the UK, Azucarera in Spain, Bwana Sukari in Tanzania, White Spoon in Zambia, and Illovo in multiple markets. Additionally, British Sugar Plc is the exclusive processor of the sugar beet crop in the UK, manufacturing approximately 1.2 million tons of sugar annually at its four state-of-the-art production facilities located in East Anglia and the East Midlands.

Related Reports:

Sweeteners Market by Product (Sucrose, High-fructose Corn Syrup, Natural Sweeteners, Artificial Sweeteners, Novel Sweeteners, and Polyols), Sales Channel (Direct and Indirect), Type, Form, Application and Region - Global Forecast to 2028

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