Sweeteners - Nordics | Statista Market Forecast

The Sweeteners Market in the Nordics is facing minimal growth due to factors such as rising health consciousness among consumers and increasing demand for natural sweeteners like honey. However, the market is hindered by the declining popularity of artificial sweeteners and the rising availability of substitutes. This stagnant growth can also be attributed to the saturated nature of the market and the relatively small population in the Nordics.

Customer preferences: As health and wellness continue to be top priorities for consumers in the Nordics, the demand for natural and organic sweeteners is on the rise. This trend is driven by the region's strong focus on sustainability and clean eating. Additionally, there is a growing preference for alternative sweeteners like stevia and monk fruit, as consumers become more health-conscious and seek out low-calorie options. This shift towards healthier sweeteners is also influenced by the rise in lifestyle diseases, such as obesity and diabetes, prompting consumers to look for healthier alternatives to traditional sugar.

Trends in the market: In the Nordics, the Sweeteners Market within the Spreads & Sweeteners Market of The Food market is seeing a shift towards natural and healthier sweetener options due to increasing consumer demand for clean label products. This trend is expected to continue as consumers become more health-conscious and look for alternatives to traditional sugar. Additionally, there is a growing trend of incorporating plant-based sweeteners, such as stevia and monk fruit, in food and beverage products. This trend is significant as it aligns with the overall trend towards natural and plant-based ingredients in the food industry. Industry stakeholders should take note of this trend and consider incorporating these sweeteners into their products to cater to the changing consumer preferences.

Local special circumstances: In the Nordics, the Sweeteners Market of the Spreads & Sweeteners Market within The Food market is heavily influenced by the region's health-conscious culture. Scandinavian consumers prioritize natural, organic, and healthier alternatives, leading to a high demand for sugar-free and low-calorie sweeteners. Additionally, government regulations promoting healthy eating habits and a sugar tax have further boosted the market for natural and artificial sweeteners in the region. This unique cultural and regulatory landscape has shaped the market dynamics and product offerings in the Nordics, setting it apart from other global markets.

Underlying macroeconomic factors: The Sweeteners Market of the Spreads & Sweeteners Market within The Food market in the Nordics is heavily influenced by macroeconomic factors such as consumer spending power, economic growth, and government policies. The region's stable economy and high disposable income levels have led to a growing demand for healthier food options, including natural and low-calorie sweeteners. Additionally, the increasing trend towards healthier lifestyles and rising awareness about the negative effects of consuming high amounts of sugar have also contributed to the growth of the sweeteners market in the Nordics. Furthermore, supportive government policies promoting healthy eating habits and the use of natural sweeteners have further boosted the market growth in the region.

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.