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Vietnam Food Sweetener Market Size, Share, Growth, Analysis: By Product Type: Sucrose (Common Sugar), Starch Sweeteners and Sugar Alcohols, High Intensity Sweeteners (HIS), Others; By Application: Dairy, Bakery, Soups, Sauces, and Dressings, Confectionery, Beverages, Others; Market Dynamics; Competitive Landscape; 2024-2032
Vietnam Food Sweetener Market Outlook
The Vietnam food sweetener market size is projected to grow at a CAGR of 2.1% between 2024 and 2032. The major forces driving the food sweetener market growth in Vietnam are flourishing food industry, rising disposable incomes, and changing food preferences.
Key Trends in the Market
Food sweeteners refer to ingredients that are used for sweetening and enhancing the taste of different food products and beverages. These products can be natural or artificial and are used in different processes including caramelisation and baking, among others. The different type of food sweeteners include sucrose, starch sweeteners and sugar alcohols, and high intensity sweeteners, among others.
- The wide applications of sweeteners in the food and beverage sector for preparing various products, including confectionery, carbonated beverages, ice cream, and many others, support the Vietnam food sweetener market growth. This increased adoption can be attributed to its ability to disperse ingredients like colours and flavours; role as a bulking agent or filler and a carrier for trace ingredients; and ability to enhance the texture of certain products.
- The increasing consumption of natural and organic products due to rising health consciousness and environmental awareness among the regional population is supporting the market for natural sweeteners in Vietnam. The leading market players are actively investing towards the development of natural and nutritive sweeteners that can replicate the functionality and taste of traditional sweeteners.
- The increased demand for food sweeteners especially from the beverages sector for producing carbonated and flavoured drinks significantly contributes to the market expansion. Moreover, the leading beverage companies are increasingly investing in research and development of products utilising low-calorie sweeteners to meet the changing consumer demands. Coca-Cola uses a blend of aspartame and acesulfame potassium (or Ace-K) to sweeten Coke Zero Sugar, enabling them to label it as “sugar-free” or “diet.”
Vietnam Food Sweetener Market Analysis
Based on product type, the market is classified into sucrose (common sugar), starch sweeteners and sugar alcohols, and high intensity sweeteners (HIS), among others. The starch sweeteners and sugar alcohols segment is further divided based on type into dextrose, high fructose corn syrup (HFCS), maltodextrin, sorbitol, and xylitol, among others. Meanwhile, the high intensity sweeteners (HIS) segment is sub-divided by type into sucralose, aspartame, saccharin, ace-K, stevia, and neotame, among others.
On the basis of application, the Vietnam food sweetener market segmentation includes dairy, bakery, soups, sauces and dressings, confectionery, and beverages, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter’s five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Tate & Lyle PLC
- Cargill, Incorporated
- Ingredion Incorporated
- Ajinomoto Co., Inc
- Heng Li (Vietnam) Food Sweetener Technology Co., Ltd
- Teros SAS
- Vinh Nam Anh Co., Ltd.
- TTC Group
- Lam Son Sugar Cane Joint Stock Corporation (Lasuco)
- QUANG NGAI ROAD JOINT STOCK COMPANY
- Others
Vietnam Food Sweetener Market Share by Product Type
Sucrose is widely used in the Vietnamese food and beverage sector, accounting for a significant share of the total market value. This disaccharide is made up of fructose and glucose and is commercially produced from sugar beets and sugarcanes. This sweetener is used for enhancing the taste and sweetness of a wide variety of food products and beverages including cakes, milkshakes, tea, and coffee, among others. Sucrose also finds applications in different pharmaceutical products, for enhancing the taste of certain medicines.
Vietnam Food Sweetener Market Share by Application
The usage of food sweeteners in bakeries is anticipated to witness a significant growth over the forecast period. This growth can be attributed to the ability of these sweeteners to enhance the taste and texture of baked products. Sweeteners also have an impact on the texture, fermentability, colour, and appearance of baked goods. The increasing consumption of packaged baked goods owing to their convenience further adds to the food sweetener market demand in Vietnam.
Competitive Landscape
Tate & Lyle PLC., established in 1921, is a prominent player in the food and beverage sector and specialises in the production of food sweeteners. The company aims to keep up with the current trends and the ever-changing requirements of their customers.
Cargill, Incorporated, founded in 1865, is one of the leading manufacturers of food products and ingredients and also offers solutions for sectors like agriculture and industrial products.
Ingredion Incorporated, founded in 1997, is dedicated towards providing the best taste experience to their customers. The company is known for delivering high-quality and innovative products including non-GMO sweeteners and others.
Other food sweetener market players in Vietnam include Ajinomoto Co., Inc, Heng Li (Vietnam) Food Sweetener Technology Co., Ltd, Teros SAS, Vinh Nam Anh Co., Ltd., TTC Group, Lam Son Sugar Cane Joint Stock Corporation (Lasuco), and QUANG NGAI ROAD JOINT STOCK COMPANY, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Application |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Food Sweetener Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Food Sweetener Historical Market (2018-2023)
8.3 Asia Pacific Food Sweetener Market Forecast (2024-2032)
9 Vietnam Food Sweetener Market Analysis
9.1 Key Industry Highlights
9.2 Vietnam Food Sweetener Historical Market (2018-2023)
9.3 Vietnam Food Sweetener Market Forecast (2024-2032)
10 Vietnam Food Sweetener Market by Product Type
10.1 Sucrose (Common Sugar)
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Starch Sweeteners and Sugar Alcohols
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.2.3 Breakup by Type
10.2.3.1 Dextrose
10.2.3.2 High Fructose Corn Syrup (HFCS)
10.2.3.3 Maltodextrin
10.2.3.4 Sorbitol
10.2.3.5 Xylitol
10.2.3.6 Others
10.3 High Intensity Sweeteners (HIS)
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.3.3 Breakup by Type
10.3.3.1 Sucralose
10.3.3.2 Aspartame
10.3.3.3 Saccharin
10.3.3.4 Ace-K
10.3.3.5 Stevia
10.3.3.6 Neotame
10.3.3.7 Others
10.4 Others
11 Vietnam Food Sweetener Market by Application
11.1 Dairy
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Bakery
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Soups, Sauces, and Dressings
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Confectionery
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Beverages
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Tate & Lyle PLC
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Cargill, Incorporated
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Ingredion Incorporated
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Ajinomoto Co., Inc
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Heng Li (Vietnam) Food Sweetener Technology Co., Ltd
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Teros SAS
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Vinh Nam Anh Co., Ltd.
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 TTC Group
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 Lam Son Sugar Cane Joint Stock Corporation (Lasuco),
13.2.9.1 Company Overview
13.2.9.2 Product Portfolio
13.2.9.3 Demographic Reach and Achievements
13.2.9.4 Certifications
13.2.10 QUANG NGAI ROAD JOINT STOCK COMPANY
13.2.10.1 Company Overview
13.2.10.2 Product Portfolio
13.2.10.3 Demographic Reach and Achievements
13.2.10.4 Certifications
13.2.11 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Food Sweetener Market: Key Industry Highlights, 2018 and 2032
2. Vietnam Food Sweetener Market: Key Industry Highlights, 2018 and 2032
3. Vietnam Food Sweetener Historical Market: Breakup by Product Type (USD Million), 2018-2023
4. Vietnam Food Sweetener Market Forecast: Breakup by Product Type (USD Million), 2024-2032
5. Vietnam Food Sweetener Historical Market: Breakup by Application (USD Million), 2018-2023
6. Vietnam Food Sweetener Market Forecast: Breakup by Application (USD Million), 2024-2032
7. Vietnam Food Sweetener Market Structure
Key Questions Answered in the Report
The Vietnam food sweetener market size is estimated to expand at a CAGR of 2.1% between 2024 and 2032.
The market is being driven by the changing food preferences, rising disposable incomes, and the growth of the Vietnamese food and beverage (F&B) industry.
The key trends aiding the market expansion include the rapid adoption of natural and nutritive sweeteners by food and beverage manufacturers and increasing investments in the formulation of better ingredients.
The significant product types include sucrose (common sugar), starch sweeteners and sugar alcohols, and high intensity sweeteners (HIS), among others.
The different types of starch sweeteners and sugar alcohols include dextrose, high fructose corn syrup (HFCS), maltodextrin, sorbitol, and xylitol, among others.
The different types of high intensity sweeteners include sucralose, aspartame, saccharin, ace-K, stevia, and neotame, among others.
The major applications of food sweeteners include dairy, bakery, confectionery, beverages, and soup, sauce and dressing, among others.
The major players in the market are Tate & Lyle PLC, Cargill, Incorporated, Ingredion Incorporated, Ajinomoto Co., Inc, Heng Li (Vietnam) Food Sweetener Technology Co., Ltd, Teros SAS, Vinh Nam Anh Co., Ltd., TTC Group, Lam Son Sugar Cane Joint Stock Corporation (Lasuco), and QUANG NGAI ROAD JOINT STOCK COMPANY, among others.
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