Valley Cottage, NY — Increasing consumer awareness of natural ingredients is expected to propel the naturally derived sweeteners market during the coming decade, with a projected compound annual growth rate of 5.1 percent, according to Future Market Insights FMI). Sector sales are expected surpass $37 billion by the end of 2028.
Further, several governments are extending financial support to encourage natural ingredient cultivation, which will create a favorable scenario for natural sweetener growers, according to FMI.
Currently molasses, honey and coconut sugar are sales leaders among naturally derived sweeteners, while the market research company expects varieties such as palm sugar and stevia to have rapid growth during the forecast period. Organic sweeteners will lead the sector, accounting for more than half of total market revenue during the forecast period.
While sales projections are strong for the sector, the naturally derived sweeteners industry is still in its early phase of development, as most of the products are yet to be approved or have been recently approved by the authoritative regulatory organizations for usage in various food products, according to FMI.