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Monk Fruit Sugar Market size is set to witness continuous developments through 2027 as consumer demand for processed food and beverage products with natural and organic ingredients rises. Due to the rise in purchasing powers of consumers, high-quality processed and on-the-go products are in demand globally.
Increasing concerns regarding health and wellness is encouraging more and more consumers to purchase low-calorie or zero-calorie products. As a result, cutting down sugar content and replacing traditional sugar with low-calorie sweeteners has become a top priority among food brands. The aforementioned trends are likely to create a substantial demand for products with monk fruit sugar in the coming years.
Alternative sweeteners have gained enormous popularity worldwide as consumers look to avoid regular sugar. Monk fruit sugar, also popularly known as monk fruit sweetener or monk fruit extract, is one such product. Its natural, organic, contains nearly zero calories and is around 100 to 250 times sweeter than regular sugar. Monk fruit sugar is known to have a positive effect on weight management which is why it is becoming a preferred choice among people with diabetes and obesity. Other potential health benefits of the product include antioxidant effects, anti-diabetic properties, anticancer properties, and many others.
Based on nature, organic monk fruit sugar industry is expected to see notable gains by 2027. Increased focus on personal health, wellbeing, and immunity, especially due to the COVID-19 situation, is encouraging more and more consumers to boost their intake of nutrition drinks, fruit juices, and dairy products with organic ingredients. Bakery products, frozen desserts, and confectionery products with low-calorie sweeteners are also experiencing demand globally.
North America monk fruit sugar market is slated to experience commendable growth over the forecast period 2021-2027 led by the demand for naturally derived sweeteners and flavoring agents in baked foods, dairy, and confectionery. The region has a large number of diabetic and obese patients looking for zero-calorie sugar alternatives that do not alter their blood glucose levels. Ongoing efforts by the food & beverage brands to meet these requirements will bolster the regional industry outlook.
Archer Daniels Midland Company, Tate & Lyle Co., Monk Fruit Corp, Lakanto, and BioVittoria Co. are some of the most popular companies in the monk fruit sugar market. These brands are offering new varieties of monk fruit sweeteners to capitalize on their growing market popularity. For instance, Lokanto offers a range of monk fruit sugar products for diabetic patients with zero glycemic level and a 1:1 sugar replacement ratio, making it easy to use. The brand offers a range of products including chocolate bars, sweeteners, and others.
COVID-19 – changing consumer preferences and its impact monk fruit sugar market trends
The COVID-19 pandemic has brought about numerus behavioral and societal changes impacting the way consumer eat and drink. According to Archer Daniels Midland Company (AMD), food & beverage trends in the coming years will be influenced by increased focus over health and immunity, with more than 50% consumer seeking products with naturally beneficial ingredients. AMD also expects increased consumption of natural low-calorie sweeteners such as monk fruit sugar to be a major trend in the near future.
During the pandemic, a significant upsurge in consumption of comfort foods among consumer witnessed among consumers. In the U.S. consumer interest in comfort foods increased by over 19% during 2020, according to food & beverage AI firm Spoonshot. In response, business interest in comfort foods went up by nearly 61% as food brands look to capitalize on the growing trend. The popularity of comfort foods will certainly provide monk fruit sugar market players with tremendous opportunities over 2021-2027.