Wilmington, Delaware, United States, Jan. 03, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. -The global monk fruit sugar market was projected to attain US$ 118.6 million in 2022. It is anticipated to garner a 4.8% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 180.4 million by 2031.
An increase in customer desire for natural, low-calorie sweeteners is driving the monk fruit sugar industry. The trend toward clean label components, growing consumer knowledge of health-conscious options, and developments in extraction technology are important motivators. Expanding product applications is a key emphasis for industry players, which propels the market's expansion even faster.
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Global Monk Fruit Sugar Market: Key Players
Leading businesses in the monk fruit sugar industry, such Tate & Lyle and Monk Fruit Corporation, are spearheading innovation in natural sweeteners. They create high-purity monk fruit extracts by utilizing sophisticated extraction procedures, which provide a healthier substitute for conventional sugars.
The primary objectives of market leaders are to broaden their range of products, create adaptable formulas, and build enduring supply networks. In order to fulfill the growing demand for natural, low-calorie sweetener solutions in the food sector, partnerships with food and beverage producers improve the integration of monk fruit sweeteners into a variety of products.
The following companies are well-known participants in the global monk fruit sugar market:
- Archer Daniels Midland Company
- Apura Ingredients
- Guilin Layn Natural Ingredients Corp.
- Imperial Sugar Company
- Whole Earth Sweetener Co. LLC
- Health Garden USA
- Matakana SuperFoods Ltd.
- Group Krisda Stevia Canada Inc.
- Bulk Barn Foods Ltd.
Key Findings of the Market Report
- Consumers are looking for non-Stevia substitutes for refined sugar on the market.
- Suppliers in the global monk fruit sugar market provide allulose sweetener and sugar-free monk fruit extract products.
- In an effort to capture a larger market share for monk fruit sugar, they are now introducing powdered organic sweeteners.
- Overconsumption of monk fruit sugar may cause hives or rashes, breathing problems, a weak or fast pulse, swelling of the tongue, nausea, vomiting, dizziness, and wheezing.
- Throughout the projected period, these factors are anticipated to impede the growth of the monk fruit sugar market.
Market Trends for Monk Fruit Sugar
- Customers are growing increasingly concerned about their health. The focus is on low- or zero-calorie food items that have been prepared with sugar alternatives. Monk fruit sugar is so recommended since it is a natural antioxidant. Mogrosides, which are antioxidants that shield the body from oxidative stress, are found in monk fruit. These antioxidants shield cells from the harm that free radicals may do.
- According to the World Health Organization (WHO), 39 million children and 650 million adults are obese. It has been noted that one of the main causes of the sharp rise in diabetes, strokes, and CVDs is obesity. According to the WHO, the percentage of people worldwide with diabetes was close to 10.5% in 2021 and is predicted to rise to 12% by 2045.
- In 2021, there were 141 million cases of diabetes in China alone. In the near future, these factors are anticipated to fuel demand for natural sugar that has no calories.
Global Market for Monk Fruit Sugar: Regional Outlook
- In 2022, North America held the majority of the share. The rising rates of diabetes and obesity in the United States are driving up market dynamics in the region. Approximately 30.7% of individuals are overweight, according to the National Health and Nutrition Examination Survey.
- The monk fruit sugar market is expected to rise steadily in Europe and Asia Pacific, according to the most recent projection. The market statistics in these regions are driven by an increase in the incidence of obesity. Over 52.7% of adults in the EU are overweight, according to the European Commission.
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Some key developments by the players in this market are:
- Swerve, which is owned by Whole Earth Brands, expanded into monk fruit and allulose sweetener options in July 2022, which are zero-sugar and zero-calorie offers.
- Ecoideas introduced Erythritol in November 2021, extending their range of Monkfruit sweeteners. You may use Ecoideas Organic Monkfruit Powder, Golden, and Classic as an alternative to conventional sweeteners.
- Tate & Lyle announced in July 2021 that it would sell its sweetener division to KPS Capital Partners for US$ 1.3 billion.
Global Monk Fruit Sugar Market Segmentation
Nature
- Natural
- Organic
Form
- Powder
- Liquid
End Use
- Food & Beverage Industry
- Bakery
- Dairy & Ice Cream
- Chocolate & Confectionery
- Breakfast Cereals
- Beverages
- Others
- Household (Retail)
- Food Services
- Others
Packaging Type
- Bags & Sacs
- Pouches
- Folding Cartons
- Jars
Distribution Channel
- Direct Channel
- Indirect Channel
- Hypermarket/Supermarket
- Convenience Store
- Discount Store
- Food & Drink Specialty Store
- Independent Small Grocery
- Online Retail
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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