Key Market Indicators
Azerbaijan's sweeteners production is projected to decline significantly over the next five years, according to recent industry data. By 2028, production is expected to reach approximately 142,000 metric tons, down from the 177,000 metric tons recorded in 2023. This represents an average annual decrease of 3.5%. The downward trend in production has been ongoing since 2019, with an average yearly decline of 3.7% during this period. In 2023, Azerbaijan ranked 75th globally in sweeteners production, with Togo surpassing it by producing the same amount of 177,000 metric tons. Leading the global rankings were Brazil, the United States, and Thailand, in second, third, and fourth places, respectively. In terms of sales, the Azerbaijani sweeteners market is also expected to shrink. Sales are projected to fall to around 405,000 metric tons by 2028, down from 426,000 metric tons in 2023. This marks an average annual decline of 0.8%. The market has seen a continuous drop of 1% per year since 2019.
