From 2014 to 2023, Australia's sweeteners production saw fluctuations with moments of growth and decline. Notably, after reaching a peak in 2016, production decreased significantly in 2018 but recovered in subsequent years. By 2023, production stood at 4.89 million metric tons, showing a slight year-on-year increase of 0.37%. Over the last two years (2021-2023), production had an average annual growth of 0.91%. The five-year CAGR from 2018-2023 also stood at 0.91%, indicating modest growth.
Future projections suggest a stable yet slow growth trend, with production expected to reach 4.98 million metric tons by 2028. This results in a forecasted five-year CAGR of 0.3%, and a cumulative growth rate of 1.52% between 2023 and 2028.
Trends to watch:
- Technological advancements in production efficiency
- Changes in consumer preference towards natural and low-calorie sweeteners
- Regulatory changes impacting the use of artificial sweeteners
- Global supply chain disruptions affecting raw material availability
