Sweeteners - Suriname | Statista Market Forecast

The Sweeteners Market in Suriname is facing subdued growth due to factors like fluctuating consumer preferences, increasing awareness of health risks associated with artificial sweeteners, and growing demand for natural sweeteners like honey. Despite being a part of the overall Food Market, the Suriname Sweeteners Market is facing challenges in terms of slower growth rate.

Customer preferences: With the growing health consciousness among consumers in Suriname, there has been a notable shift towards natural and healthier sweeteners such as stevia and honey. This trend is driven by a growing awareness of the negative health effects of artificial sweeteners. Additionally, there is a growing demand for gluten-free and sugar-free options, reflecting a shift towards healthier and more mindful eating habits. This trend is further amplified by an increasingly health-conscious younger population and a rise in vegan and vegetarian diets.

Trends in the market: In Suriname, the Spreads & Sweeteners Market within The Food market is experiencing a growing demand for natural and healthier sweeteners, such as stevia and agave nectar. This trend is driven by increasing health consciousness among consumers and a desire for more sustainable and organic food options. As a result, major players in the market are expanding their product lines to include these alternatives and promoting them as a healthier option for consumers. This trend is expected to continue, with potential implications for industry stakeholders including increased competition, the need for product innovation, and a shift towards more sustainable and natural ingredients.

Local special circumstances: In Suriname, the Spreads & Sweeteners Market within The Food market is heavily influenced by the country's tropical climate and diverse cultural influences. The use of natural sweeteners, such as cane sugar and honey, is deeply ingrained in Surinamese cuisine, leading to a lower demand for artificial sweeteners. Additionally, government regulations on imported goods and local production also impact the availability and pricing of sweeteners in this market. These unique factors contribute to the dynamics of the Spreads & Sweeteners Market in Suriname, setting it apart from other markets in the region.

Underlying macroeconomic factors: The Sweeteners Market of the Spreads & Sweeteners Market within The Food market in Suriname is significantly impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The country's economic stability, inflation rates, and consumer spending habits all play a crucial role in determining the demand for sweeteners in The Food market. Additionally, regulatory support and investment in food infrastructure are key drivers of market growth, as they directly impact the availability and accessibility of sweeteners for food manufacturers. Suriname's growing population and rising disposable income also contribute to the increasing demand for sweeteners in the food industry.

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.