Demand for Bakery Products Fuels Dry Sweeteners Market Growth to USD 7.88 Billion by 2032
Worldwide dry sweeteners market request is expected to be esteemed at US$ 4,200. Millions of every 2022, estimate a CAGR of 6.5% to be esteemed at US$ 7,884 Million from 2022 to 2032. Development is credited to the rising interest for bread kitchen items. From 2016-2021 a CAGR of 4.1% was enlisted for the dry sweeteners market.
Dry sweeteners are sweetening agents that are mostly used in the bakery and confectionery for the preparation of the cookies, cakes, muffins, bread, and nut coatings. Dry sweeteners comprise of malt, raisins, dry honey, fruits sugars, molasses that can replaces liquid or raw sweeteners efficiently and effectively. Dry sweeteners mainly come in flake, powder and crystal form depends on the use of the sweetener in the industry.
Dry Sweeteners Market: Drivers & Restraints
Rising use of confectionery and food products in the food parks, dairy and HoReCa (Hotel, Restaurants, and café) is the key drivers for the growth of the global dry sweeteners market. Additionally, the increasing decorative features in the baking industry and other food industries is expected to increase the demand for dry sweeteners in forecast years. Dry Sweeteners can be used as a decoration by spreading on baking recipes before or after Baking. Dry sweeteners used to add shape, quality, and taste of the food products in food and confectionery industry. Change in life style and increase in disposable income is increasing the consumer base for food industry, this in turn, is expected to increase the demand for dry sweeteners in near future.
Furthermore, unstable demand and supply ratio is expected to restrain the market growth of dry sweeteners. Lack of awareness in developing economies and fluctuating prices of raw materials are expected to hinder the market growth across the forecast period.
Dry Sweeteners Market: Regional outlook
Based on geography, dry sweeteners market has been categorized into seven key regions i.e. North America, Western Europe, Japan, Asia Pacific excluding Japan, Eastern Europe, and Middle East and Africa. The dry sweeteners market is expected to register healthy growth during the forecast period as the food and beverages market is growing globally. The Asia Pacific represents the considerably high market share and growing with a higher growth rate as the food and beverages market is growing rapidly in the region.
Moreover, North America and Western Europe are growing market with a stabilized rate attributed to the high capita income and changed in lifestyle of the consumers. The dry sweeteners market is steadily increasing with the increasing demand of the confectionery and bakery foods across the globe. The Dry sweeteners market is expected to grow in the forecast period.
Dry Sweeteners Market: Key Players
Some of the major players in the dry sweeteners market are listed below.
- Archer Daniels Midland Company
- Sweeteners Plus
- Marroquin Organic
- Nordic Sugar A/S
- Cargill, Incorporated
- Royal Ingredients Group
- Tereos Starch & Sweeteners s.a.s.
- Health Care Products Ltd
- Malt Products Corporation
- Jimbo’s Naturally
- Other players
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
Dry Sweeteners Market: Market Segmentation
Dry sweeteners market is segmented into different segments based on the product type, application type, form type, and geography. Among application type, dry sweeteners for the decorative purpose in the bakery industry is leading with maximum market share. Furthermore, second largest consumption of drysweetners is in the confectionery foods which maintains the second position in the market. Use of dry sweeteners in food and dairy industry is expected to grow across the forecast period attributed to increase in consumer base as the population is increasing across the globe. The dry sweeteners come in the different forms as like powder, crystal, and flake.
Based on the product type the dry sweeteners market is segmented into:
- Malt
- Raisins
- dry honey
- Fruits sugars
- Molasses
- Other dry sweeteners
Based on the application type the dry sweeteners market is segmented into:
- Confectionery
- Bakery
- Dairy
Based on the form type the dry sweeteners market is segmented into:
- Powder
- Crystal
- Flakes
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