Since 2014, the sweeteners market in Europe, measured in million metric tons, has demonstrated a slight but consistent downward trend. The market size volume for 2023 stood at 37.4 million metric tons, reflecting a year-on-year decline of 0.027%. The Compound Annual Growth Rate (CAGR) over the last five years was -0.04%, indicating an average annual decrease in market size volume.
From 2014 to 2023, notable year-on-year percentage variations included a distinct drop in 2016 of 0.92% and a slight increase in 2017 by 1.05%. The forecast for the next five years predicts a continuation of this trend with the market size volume expected to decrease modestly, reaching 37.35 million metric tons by 2028. The forecasted CAGR is -0.02%, implying a slow yet steady decline in market volume.
Future trends to watch for:
- Influence of consumer health consciousness leading to a move away from traditional sweeteners.
- Increased adoption of alternative sweeteners like stevia and monk fruit.
- Regulatory changes impacting the use of specific sweetening agents.
- Technological advancements in sweetener production and formulation.
