September 2024 | Report Format: Electronic (PDF)
Monk Fruit Sweetener Market Growth & Trends
The global monk fruit sweetener market is expected to reach USD 592.4 million by 2030, exhibiting a CAGR of 7.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The global market is driven by increasing consumer awareness and health concerns and wellness are prompting a shift towards natural, low-calorie sweeteners. Monk fruit sweeteners, known for their zero-calorie content and natural origin, appeal to health-conscious consumers seeking alternatives to sugar and artificial sweeteners.
The monk fruit sweeteners market presents several growth opportunities. There is potential for expansion in the functional foods and beverages sector, where monk fruit sweeteners can be used to enhance the nutritional profile of products without compromising taste. Additionally, increasing adoption in the pharmaceutical and personal care industries for products like dietary supplements and oral care products presents new avenues for market penetration.
Consumer trends in the Monk Fruit sweeteners market include a preference for clean-label products, driven by concerns over health and environmental impact. There is also a growing interest in keto and low-carb diets, where monk fruit sweeteners are favored for their ability to provide sweetness without impacting blood sugar levels. Additionally, the demand for organic and non-GMO products continues to rise, influencing purchasing decisions among health-conscious consumers. Brands like Monk Fruit Corp. and NOW Foods are responding to these trends by offering certified organic monk fruit sweeteners, appealing to consumers seeking natural and sustainable options.
The competitive landscape of the Monk Fruit sweeteners market is characterized by the presence of key players such as Guilin Layn Natural Ingredients, Monk Fruit Corp., and Tate & Lyle, among others. These companies are actively involved in product innovation and development to enhance taste profiles and expand applications across various industries. Strategic partnerships and collaborations are common strategies, aimed at strengthening market presence and leveraging distribution networks.
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Monk Fruit Sweetener Market Report
Monk Fruit Sweeteners Market Report Highlights
- Conventional monk fruit sweeteners captured 82.6% of global revenues in 2023, driven by rising consumer demand for natural, low-calorie sugar substitutes amidst increasing health awareness and the prevalence of diabetes and obesity.
- The liquid monk fruit sweetener segment is forecasted to grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2030, propelled by their convenience and suitability across various applications, including beverages, sauces, and dressings.
- B2C use of monk fruit sweeteners is expected to expand at a CAGR of 8.8% from 2024 to 2030, fueled by heightened consumer awareness and preference for natural, low-calorie alternatives to sugar.
- In 2023, the Asia Pacific region accounted for 47.1% of global monk fruit sweetener revenues, driven by increasing health consciousness and rising incidences of lifestyle-related diseases like diabetes and obesity.
Monk Fruit Sweetener Market Segmentation
Grand View Research has segmented the global monk fruit sweetener market based on product, form, end use, and region.
Monk Fruit Sweetener Product Outlook (Revenue, USD Million; Volume, Kilotons, 2018–2030)
- Organic
- Conventional
Monk Fruit Sweetener End Use Outlook (Revenue, USD Million; Volume, Kilotons, 2018–2030)
- B2B
- Bakery & Confectionery
- Beverages
- Dairy & Frozen Desserts
- Pharmaceuticals
- Others
- B2C
- Hypermarkets/Supermarkets
- Convenience Stores
- Online
- Others
Monk Fruit Sweetener Form Outlook (Revenue, USD Million; Volume, Kilotons, 2018–2030)
- Solid
- Liquid
Monk Fruit Sweetener Regional Outlook (Revenue, USD Million; Volume, Kilotons, 2018–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Spain
- Italy
- France
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
List of Key Players in the Monk Fruit Sweetener Market
- Guilin Layn Natural Ingredients Corp.
- Archer Daniels Midland Company (ADM)
- Tate & Lyle PLC
- Monk Fruit Corp.
- Cargill, Inc.
- GLG Life Tech Corp.
- Steviva Brands, Inc.
- NOW Foods
- Firmenich SA
- SweetLeaf
- Lakanto
