Market Analysis Reveals Projected Revenue of Artificial Sweeteners at USD 10.3 Billion by 2034
In the year 2024, the global market for artificial sweeteners was worth a substantial $7.2 billion. According to industry forecasts, this market is expected to expand significantly, reaching an impressive $10.3 billion by 2034, growing at a steady Compound Annual Growth Rate (CAGR) of 3.6%.
Powdered artificial sweeteners dominated the market in 2024, accounting for a 72.5% share. Aspartame, in particular, commanded a leading position with a 38.4% share. Its dominance is largely due to its widespread use in beverages, snacks, and pharmaceuticals. Soft drinks accounted for a 38.1% share of the market.
The demand for artificial sweeteners in North America is driven by a health-conscious population seeking low-calorie, sugar-free alternatives to address obesity and diabetes. In 2024, the United States was the primary consumer, leading the global market with a 38.5% share. Canada's market growth is supported by health concerns and a preference for natural sweeteners like stevia and monk fruit, regulated by the CFIA.
Mexico's market for artificial sweeteners is also expanding, driven by urbanization, rising incomes, and growing health awareness. The FDA's approval of sweeteners like aspartame, sucralose, and acesulfame potassium has boosted consumer trust and market growth in North America.
Notable companies in the market include Hermes Sweeteners, which launched Hermesetas Mini Sweeteners, a convenient format for on-the-go use, and is expanding in Europe and Asia, focusing on diabetic-friendly sweeteners. Ajinomoto Co., Inc. has expanded its Aspartame production to meet rising demand and is also investing in stevia-based sweeteners as natural alternatives.
ADM launched SweetRight Stevia Edge, a high-purity stevia sweetener for food and beverages, and is expanding its plant-based sweetener portfolio. DuPont Nutrition & Biosciences developed HowSweet, a flavor-modulating technology to enhance sweetness in low-sugar products, and is working on fermentation-derived sweeteners for better taste and cost efficiency.
Cargill Incorporated introduced EverSweet + ClearFlo, a next-gen stevia sweetener with improved solubility for beverages. The dominance of soft drinks in the market is due to consumer demand for low-calorie and sugar-free beverages.
The natural zero-calorie sweetener segment, specifically stevia, is projected to reach $7.5 billion by 2034, growing at a CAGR of about 7% from 2024 to 2034. The broader next-generation sweetening ingredients market, which includes advanced sugar alternatives beyond traditional artificial sweeteners, is forecasted to grow at a CAGR of approximately 7.9% from 2025 to 2034. The low-calorie/alternative sweeteners market, inclusive of artificial and natural low-calorie sweeteners, is expected to grow from $30.13 billion in 2025 to approximately $38 billion around 2029.
In summary, the artificial sweetener market segment encompassing next-generation ingredients is expected to grow robustly at around 7–8% CAGR, with key subsegments like stevia expected to nearly double in value by 2034. The total global market size including all artificial and natural low-calorie sweeteners can be reasonably expected to grow substantially beyond $30 billion in the medium term, reaching approximately $70–80 billion or more by 2034, given continuation of these growth rates.
The growth of the artificial sweetener market significantly impacts the global economy by fostering innovation and job creation in the food, beverage, and pharmaceutical sectors.
Data and cloud computing technology play a crucial role in the expansion of the artificial sweetener market, as they facilitate the sharing, storage, and analysis of valuable market data to forecast future growth and trends.
The growth of the artificial sweetener market, including the segment of next-generation ingredients, is anticipated to foster innovation and create job opportunities in various sectors, such as food, beverage, and pharmaceuticals, contributing significantly to the global economy.
