The North American sweeteners market stood at 24.41 million metric tons in 2023. Over the past decade, this market has experienced fluctuations with a notably low year-on-year variation. The market saw its highest value in 2020, achieving a significant increase of 4.97%. However, subsequent years saw declines, such as in 2021 with a 4.79% decrease. For the last two years, the market remained stable with slight decreases close to -0.02%. The five-year CAGR preceding 2024 reflected a marginal growth of 0.022% annually.
Looking forward, the forecasted figures for the next five years suggest a slow decline, with a forecasted average annual growth rate of -0.05% and a cumulative decrease of -0.24% by 2028. Future trends to watch for include the increasing use of natural sweeteners and alternatives to sugar due to rising health consciousness and regulatory pressures for lower sugar content in food and beverages.
