Key regions: South Korea, Philippines, Canada, United States, Japan
The Sweeteners Market in NAFTA has seen moderate growth due to factors such as increasing health consciousness, convenience of online services, and innovation in artificial sweeteners. However, competition among sub-markets like Honey, Sugar, and Artificial Sweeteners is impacting the overall growth rate, causing it to remain minimal.
Customer preferences: As consumers become more health-conscious, there is a growing demand for natural and low-calorie sweeteners in the Sweeteners Market of the Spreads & Sweeteners Market within The Food market. This trend is driven by an increasing awareness of the negative effects of artificial sweeteners and a preference for organic and clean-label products. As a result, companies are introducing new natural sweeteners, such as stevia and monk fruit, to cater to this demand. Additionally, there is a shift towards plant-based diets, which has led to a rise in the popularity of natural sweeteners derived from plants.
Trends in the market: In the NAFTA region, the Spreads & Sweeteners Market within The Food market is experiencing a shift towards natural and healthier sweeteners. This trend is driven by increasing consumer awareness and demand for clean label products. As a result, companies are investing in research and development to introduce new plant-based sweeteners and reduce the use of artificial sweeteners. This trend is expected to continue, with potential implications for industry stakeholders such as manufacturers, retailers, and consumers. It could lead to a more diverse and competitive market, as well as a healthier and more sustainable food industry.
Local special circumstances: In North America, the Sweeteners Market of the Spreads & Sweeteners Market within The Food market is heavily influenced by the high demand for natural and healthier sweeteners. This trend has been driven by the increasing health consciousness of consumers, as well as the rising prevalence of chronic diseases such as diabetes and obesity. Additionally, the strict regulations and labeling requirements in the US and Canada have also played a significant role in shaping the market. In contrast, the market in Mexico is driven by the growing demand for convenience and affordability, leading to the popularity of artificial sweeteners in various food products. This is due to the lower purchasing power of the population and the prevalence of traditional sweeteners such as cane sugar in the local cuisine.
Underlying macroeconomic factors: The growth of the Spreads & Sweeteners Market within The Food market is heavily influenced by macroeconomic factors such as changing consumer preferences, government regulations, and global trade policies. Countries with favorable trade agreements, such as NAFTA, are experiencing increased market growth due to easier access to raw materials and a larger consumer base. Additionally, rising health consciousness and the trend towards natural and healthier alternatives are also impacting the market. The overall economic health of a country, stability of exchange rates, and consumer purchasing power also play a significant role in the performance of the Sweeteners Market.
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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