The global sugar substitutes market size is expected to reach USD 23.93 Billion at a steady revenue CAGR of 4.7% in 2028, according to latest analysis by Emergen Research. Rising awareness among consumers regarding the adverse effects of sugar on health such as increased risk of diabetes and obesity is driving market revenue growth.
Rapid urbanization coupled with increasing spending power of consumers on processed food and beverages in developing countries is expected to propel growth of the market. Surge in investments in research and development to introduce novel products containing blends of sugar substitutes and prebiotics and probiotics are expected to present lucrative growth opportunities for emerging players in the industry.
Due to global obesity epidemic, all form of sweeteners is under scrutiny from health professionals, consumer advocacy groups, and lawmakers. This is prompting companies to rethink selection of ingredients and marketing messages.
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Competitive Outlook:
The global Sugar Substitutes market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects.
Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Sugar Substitutes market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Some of the key participants in this industry include:
Cargill, Incorporated, Tate & Lyle PLC, Archer Daniels Midland Company, PureCircle Limited, Ingredion Incorporated, Ajinomoto Co., Inc., E.I. Dupont De Nemours and Company, Roquette, JK Sucralose Inc., and The Nutra Sweet Company.
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The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
Emergen Research has segmented the global sugar substitutes market on the basis of origin, type, composition, application, and region:
Origin Outlook (Revenue, USD Billion; 2018-2028)
Artificial/Synthetic
Natural
Type Outlook (Revenue, USD Billion; 2018-2028)
High-fructose syrups
Low-intensity sweeteners
High-intensity sweeteners
Composition Outlook (Revenue, USD Billion; 2018-2028)
Sugar Alcohols
Stevia
Saccharine
Sucralose
Cyclamate
Aspartame
Others
Application Outlook (Revenue, USD Billion; 2018-2028)
Beverage
Food
Pharmaceuticals
Personal Care
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Further key findings from the report suggest
Natural segment accounted for largest revenue share in 2020. Shift in consumer preferences from synthetic or artificial sugar substitutes towards natural and organic products is expected to drive growth of the segment. As per the sugar alliance organization, almost 20% of the U.S. citizens agreed that they prefer natural sugar substitute-based food or drink products.
High intensity sweeteners are commonly used as sugar substitute as they are sweeter than sugar but contribute to few or no calories when mixed with food. These sugar substitutes are approved by FDA and are safe for consumption under certain conditions of use. Some of the commonly used high intensity sweeteners are sucralose, aspartame, and saccharine.
Stevia segment accounted for largest revenue share in 2020 due to its zero calories and zero glycemic index characteristics. Stevia is about 100 to 300 times sweeter than table sugar but has no calories, carbohydrates, or artificial ingredient.
Regional Outlook of Sugar Substitutes Market:
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Rest of MEA
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Key Features of the Sugar Substitutes Market Report:
The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats
The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares
Evaluation of key current and emerging market trends and growth prospects
It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth
Brief overview of industry with regards to research and development, technological advancements, and product development
In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario
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The post Sugar Substitute Market Size, Share, Industry Analysis, Growth, Trends, Statistics, Emerging Technologies, Recent Developments and Forecast 2021-2028 appeared first on Market O Graphics.
