Key Market Indicators
Sweeteners production is projected to reach 87,000 metric tons by 2028, up from 83,000 metric tons in 2023. This represents an average annual growth rate of 0.7%. Since 2019, the supply has seen a modest year-on-year increase of 0.2%. In 2023, the country ranked 89th in sweeteners production, with Sri Lanka slightly ahead at 83,000 metric tons. Leading the global rankings were Brazil, the United States, and Thailand, occupying the second, third, and fourth positions respectively. On the sales front, the sweeteners market is expected to grow marginally, reaching 81,500 metric tons by 2028, up from 81,000 metric tons in 2023. This translates to a compound annual growth rate (CAGR) of 0.1%. Since 2019, the market has remained largely unchanged.
