Key regions: South Korea, Philippines, Canada, United States, Japan
The Sweeteners Market in CIS is facing subdued growth due to factors such as increasing health awareness among consumers and the convenience offered by online health services. However, the market is expected to experience significant growth in the future, driven by the rising adoption of digital technologies and the demand for healthier alternatives to traditional sweeteners. This growth is expected to be driven by the sub-markets of Honey, Sugar and Artificial Sweeteners.
Customer preferences: As health and wellness continue to be top priorities for consumers, there is a growing demand for natural and organic sweeteners in the Spreads & Sweeteners Market within The Food market. This trend is driven by a shift towards healthier and more sustainable dietary choices. Additionally, consumers are increasingly interested in low-calorie and low-glycemic sweeteners, reflecting a growing awareness of the potential health risks associated with traditional sugar consumption.
Trends in the market: In the CIS region, the Spreads & Sweeteners Market is experiencing an increasing demand for natural and plant-based sweeteners, as consumers become more health-conscious and seek out healthier alternatives to traditional sugar. This trend is expected to continue, with a projected growth in the production and consumption of natural sweeteners in the coming years. Furthermore, there is a growing emphasis on clean label and transparent ingredient lists, with consumers looking for products with minimal processing and additives. This shift towards natural and clean label products presents opportunities for industry players to innovate and cater to changing consumer preferences, while also posing potential challenges for those reliant on artificial sweeteners. Overall, the trajectory of these trends signals a shift towards a more health-conscious and ingredient-savvy consumer base, with potential implications for product development, marketing strategies, and supply chain management in the Spreads & Sweeteners Market.
Local special circumstances: In Russia, the Spreads & Sweeteners Market is heavily influenced by the country's preference for natural and organic products. This is driven by a growing awareness of the health benefits of natural sweeteners and a strong demand for clean label products. Additionally, the strict regulations on food additives and labeling in Russia have led to a limited availability of artificial sweeteners, making natural sweeteners the preferred choice for consumers. Moreover, the large population and increasing disposable income in the CIS region have resulted in a high demand for spreads and sweeteners, creating a lucrative market for both local and international players.
Underlying macroeconomic factors: The growth of the Spreads & Sweeteners Market is significantly impacted by macroeconomic factors such as changing consumer preferences, increasing disposable incomes, and technological advancements in food processing. Countries with stable economic growth and rising per capita income are witnessing a surge in demand for sweeteners and spreads, especially in developing regions. Moreover, favorable fiscal policies and government support for the food industry are also contributing to market growth. As the global population continues to grow and urbanize, the demand for convenient and healthy food options is expected to drive the growth of the Spreads & Sweeteners Market in the coming years.
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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