Sweeteners - South America | Statista Market Forecast

The Sweeteners Market in South America is experiencing minimal growth, due to factors such as increasing health awareness, consumer preference for natural sweeteners like honey, and the convenience of online purchasing. The sub-markets of Honey, Sugar and Artificial Sweeteners have varying levels of growth, but overall, the market is being driven by the growing demand for healthier and more convenient sweetening options.

Customer preferences: As health and wellness become more prominent concerns for consumers, there has been a growing demand for natural and organic sweeteners in South America. This trend is driven by a desire for healthier options and a shift towards more sustainable and environmentally friendly products. Additionally, there has been a rise in popularity of alternative sweeteners such as stevia and monk fruit, as consumers become more conscious of their sugar intake and seek out low-calorie options. This shift towards natural and healthier sweeteners is expected to continue in the coming years, as consumer awareness and demand for healthier food choices increases.

Trends in the market: In South America, the Spreads & Sweeteners Market is experiencing a shift towards healthier and more natural options. 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 create innovative sweeteners derived from natural sources, such as stevia and monk fruit. This shift towards natural sweeteners is expected to continue, as consumers become more health-conscious and seek out alternatives to traditional sugar-laden spreads and sweeteners. This trend presents opportunities for industry stakeholders to capitalize on the growing demand for healthier options and adapt their product offerings accordingly. Additionally, it has the potential to drive competition and innovation within the market, as companies strive to meet the changing preferences and needs of consumers.

Local special circumstances: In Brazil, the demand for alternative sweeteners is driven by the country's growing health consciousness and the rise of diet-related health issues. The government has implemented regulations to limit the use of artificial sweeteners, leading to a surge in demand for natural and low-calorie sweeteners. Additionally, the country's tropical climate and abundance of natural resources make it a prime location for producing alternative sweeteners such as stevia and agave. These factors contribute to the unique market dynamics of Brazil's Sweeteners Market within the Spreads & Sweeteners Market in The Food market.

Underlying macroeconomic factors: The growth of the Spreads & Sweeteners Market within The Food market is heavily influenced by macroeconomic factors such as consumer spending habits, trade policies, and government regulations. Countries with stable economic conditions and favorable trade policies are experiencing higher market growth compared to regions with economic instability and restrictive trade barriers. Additionally, the increasing consumer demand for healthy and natural sweeteners, as well as the rising prevalence of diabetes and obesity, are driving the growth of the Sweeteners Market in South America. As the region continues to experience economic growth and an expanding middle class, the demand for healthier and more diverse food options is expected to further drive the growth of the Spreads & Sweeteners Market in this 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.