Key regions: South Korea, Philippines, Canada, United States, Japan
The Sweeteners Market in Ireland is experiencing negligible growth due to various factors such as increased health consciousness among consumers, rising demand for natural sweeteners like honey, and the convenience of online shopping for artificial sweeteners. Despite the overall slow growth, the sub-markets of Honey, Sugar, and Artificial Sweeteners all play a role in shaping the market's current state.
Customer preferences: With growing concerns over the health effects of sugar consumption, consumers in Ireland are showing a preference for alternative sweeteners such as stevia and monk fruit. This trend is driven by the increasing focus on health and wellness, as well as a growing awareness of the potential negative impacts of excess sugar intake. Additionally, there is a shift towards natural and plant-based ingredients, as consumers prioritize clean label products and seek out healthier options in the spreads and sweeteners market.
Trends in the market: In Ireland, the Spreads & Sweeteners Market is seeing a shift towards healthier options, driven by the increasing awareness of the negative effects of excessive sugar consumption. This trend is reflected in the rise of natural sweeteners, such as stevia and monk fruit, and the emergence of low-sugar spreads made with alternative ingredients like nut butters. These developments are significant as they cater to the growing demand for healthier products and offer opportunities for industry players to tap into this market. However, this trend also poses a potential threat to traditional spreads and sweeteners, which may need to adapt to stay relevant in the competitive market.
Local special circumstances: In Ireland, the Spreads & Sweeteners Market within The Food market is heavily influenced by the country's strong agricultural industry and consumer preference for natural, locally-sourced ingredients. This has led to a rise in demand for organic and artisanal spreads and sweeteners. Additionally, strict regulations on food labeling and ingredient sourcing have fostered a market for healthier and more transparent products. Ireland's strong economy and high disposable income also contribute to the premiumization of spreads and sweeteners in the market.
Underlying macroeconomic factors: The Sweeteners Market of the Spreads & Sweeteners Market within The Food market is heavily impacted by macroeconomic factors in Ireland. The country's economic health, fiscal policies, and global economic trends all play a significant role in the market's performance. Ireland's stable economy and favorable regulatory environment have led to strong investment in the food industry, driving market growth. Additionally, the country's growing health-conscious population and rising prevalence of chronic diseases have created a demand for healthier and natural sweeteners, further boosting market growth.
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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