Key regions: South Korea, Philippines, Canada, United States, Japan
The Sweeteners Market in China's Spreads & Sweeteners Market is experiencing subdued growth due to factors such as increasing health awareness and convenience of online services. However, the market is impacted by varying growth rates in sub-markets like Honey, Sugar, and Artificial Sweeteners.
Customer preferences: As health and wellness continue to be major concerns for Chinese consumers, there has been a growing preference for natural and healthier sweeteners. This has led to an increase in demand for alternative sweeteners such as monk fruit and stevia, which are perceived as more natural and low-calorie options. Additionally, with the rise of online shopping and e-commerce platforms, there has been a shift towards purchasing sweeteners online, providing greater convenience and variety for consumers.
Trends in the market: In China, there has been a significant increase in the consumption of natural and organic sweeteners, as consumers become more health-conscious and seek alternatives to traditional sugar. This trend is expected to continue, with the market for natural sweeteners projected to grow at a CAGR of 7.5% from 2020 to 2025. This shift towards healthier options is driven by rising awareness about the negative impact of excessive sugar consumption and the increasing prevalence of lifestyle diseases. As a result, there is a growing demand for natural sweeteners such as stevia, erythritol, and monk fruit, which are perceived as healthier alternatives to artificial sweeteners. This trend has significant implications for industry stakeholders, as they need to adapt their product offerings to cater to the evolving consumer preferences and capitalize on the growing demand for natural sweeteners. Additionally, this trend presents opportunities for the development of innovative sweeteners and partnerships with local suppliers to meet the rising demand for natural sweeteners in the Chinese market.
Local special circumstances: In China, the Sweeteners Market of the Spreads & Sweeteners Market within The Food market is heavily influenced by the country's rapidly growing middle class and their increasing demand for healthier and more convenient food options. This has resulted in a surge in demand for natural sweeteners, such as stevia, as well as sugar-free spreads and sweeteners. Additionally, the Chinese government's focus on promoting a healthy lifestyle and reducing sugar intake has further fueled the growth of the market. Cultural preferences for natural and traditional ingredients also play a significant role in shaping the sweeteners market in China.
Underlying macroeconomic factors: The Sweeteners Market of the Spreads & Sweeteners Market within The Food market in China is influenced by various macroeconomic factors. These include the overall economic growth of the country, government policies promoting food and beverage industries, and increasing consumer awareness about the health benefits of natural sweeteners. Additionally, the rising disposable income and changing dietary preferences of the Chinese population are also contributing to the growth of the market. Moreover, the government's initiatives towards promoting healthier food options and reducing sugar consumption are expected to have a significant impact on the sweeteners market in China.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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