Sugar Substitutes Market

SKU: DMFB3093 | Last Updated On: Oct 20 2022 | Available Formats

> Sugar Substitutes Market Expected to reach a high CAGR of 4.9% By 2029: DataM Intelligence

Sugar Substitutes Market Market is segmented By Type Segment (High Fructose Syrup, High-Intensity Sweetener, Low-Intensity Sweetener), By Composition (High-intensity sweeteners, Low-intensity sweeteners), By Application (Food Products, Health & Personal Care Products, Beverages), And By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

[170 Pages Report] Sugar Substitutes Market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of 4.9% during the forecast period (2022-2029).

Sugar Substitutes Market - Strategic Insights

Metrics

Details

Market CAGR

4.9%

Segments Covered

By Type, By Composition, By Application, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

To Get a Free Sample Click here

Sugar substitutes are food additives that can imitate the effect of Sugar in taste, though they usually have less food energy/calories. The Sugar substitutes have prospered on synthetic alternatives for sucrose, such as aspartame, saccharin, and acesulfame potassium. Sugar substitutes' popularity has surged due to rising awareness of the energy imbalance between calories consumed and calories expended. The Sugar substitute industry's growth is majorly driven by the increase in demand for natural sweeteners and increased health consciousness among consumers, backed by the rise in consumer inclination toward natural products. Moreover, the growing demand for Sugar substitutes in several applications in the food & beverage industry is further encouraging market growth.

Market Dynamics:

Increase in health consciousness among consumers drives sugar substitute market.

Easy entrance to vast information is increasingly making consumers informed of their nutritional needs. Due to this, consumers have become more conscious of healthier choices concerning food & beverages. According to a National Diabetes Statistics Report in 2022, 11.3 % of the US population had diabetes; there are around 28.7 million people diagnosed, including 28.5 million adults. A total of 96 million people aged 18 years or older have prediabetes (38.0% of the adult US population). These increasing health conditions stem from increased demand for low-calorie food & beverage products to help consumers maintain a healthy diet. Sugar substitutes have virtually no calories, whereas a teaspoon of Sugar has almost 16 calories.

Also, an increase in investments in R&D activities by manufacturers drives market growth. Manufacturers are gradually investing in the R&D of new Sugar substitutes to achieve a larger share. Several food & beverage manufacturers are switching regular Sugars with Sugar substitutes to reduce the calorie content of the end products. The demand for Sugar substitutes from established economies has increased significantly. The key reason behind the Sugar substitute market's considerable growth is the shifting consumer attitude toward Sugar substitute intake. The awareness regarding the ill effects of high-calorie frequent Sugar consumption among consumers is rising.

However, the market's growth is hindered by factors such as uncertainty related to health problems due to Sugar substitute intake.

Market Segmentation:

The virgin paper segment will project the fastest growth in the market throughout the forecast period

Based on the type, the Sugar substitutes market has been classified into High Fructose Syrup, High-Intensity Sweetener, Low-Intensity Sweetener.

The high-intensity sweeteners segment is projected to foresee the fastest CAGR in the Sugar substitutes market during the forecast period. The high-intensity sweeteners segment is expected to project the fastest CAGR in the global Sugar substitutes market in 2019. The high-intensity sweeteners authorized by the FDA are safe for the general population under specific conditions of use. Aspartame, saccharin, and sucralose are the major segments of the overall high-intensity sweeteners market. Aspartame is the commonly used low-calorie artificial sweetener in the high-intensity sweeteners market.

The Sugar substitutes market has been classified into beverages, food products, and health & personal care products based on the application.

The beverage segment contributed significant market share in the forecast period. Sugar substitutes are presently preferred in beverages, such as flavored water, diet carbonated drinks, and other beverages. Stevia is a crucial Sugar substitute used in beverages. It is a preferred Sugar substitute with zero glycemic indexes and reduced-calorie, which generates several versions of energy drinks, ready-to-drink teas, flavored water, soft drinks, and fruit juices. Other Sugar substitutes, such as xylitol and erythritol, are also preferred among market players in the beverage industry.

Geographical Penetration:

North America is the dominating region during the forecast period.

Based on geography, the study analyzes the Sugar substitutes market in the global market, including North America, Asia-Pacific, Europe, South America, and the Middle East & Africa.

This dominance is due to several key market players in the region, especially in the US. Additionally, the rising number of diabetic patients in the US and the growing obese population in the region support Sugar substitutes.

However, Asia Pacific is projected to grow at the fastest CAGR in the Sugar substitutes market over the forecast period. This growth is attributed to the change in the lifestyle of consumers and the increase in health consciousness. Moreover, the Asia Pacific market is witnessing a radical transformation regarding diet diversification and liberal trade policies in the food sector.

Competitive Landscape:

The sugar substitute market is highly competitive, owing to the presence of big food brands. The critical sugar substitutes players which are contributing to the growth of the global market include DuPont, ADM, Tate & Lyle, Ingredion Incorporated, Cargill Incorporated, Roquette Frères, PureCircle Ltd, MacAndrews & Forbes Holdings Inc., Ajinomoto Co. Inc., JK Sucralose Inc., Foodchem International Corporation, Golden Health (Guangdong) Biotechnology Co., Ltd., Beijing Stevia Co., Ltd., Qingdao Haisan New Energy Co., Ltd., among others. The major players are adopting new launches based on new material launches and expansion strategies for global growth in the Sugar substitutes market. Some key players follow merger and acquisition strategies to expand their business. For instance, in February 2021, International Flavors & Fragrances announced the merger with DuPont's Nutrition & Biosciences at $26.2 billion. The company will have dominant positions in taste, texture, nutrition, enzymes, cultures, soy proteins and probiotics, and leading R&D capabilities. In July 2021, ADM announced that it had completed an agreement to acquire Sojaprotein, a leading European provider of non-GMO soy ingredients. Serbia-based Sojaprotein has sales in 65 countries. This agreement helps to expand companies business. In December 2020, Tate & Lyle, a leading global provider of food and beverage ingredients and solutions, acquired Sweet Green Fields (SGF), a leading global stevia solutions business. Tate & Lyle's is a leading provider of innovative sweetener solutions with the capabilities to create foods and beverages that are lower in sugar and calories and with cleaner labels for customers worldwide. The acquisition also extends the company's presence in the Asia Pacific region with dedicated stevia production and research and development facilities located in Anji, China.

COVID-19 Impact:

Positive impact on the global sugar substitutes market.

The global Sugar substitute market is impacted significantly due to the ambiguous pandemic conditions that occurred globally. The impacts of COVID-19 have been witnessed on the final products' supply chain and raw material ingredients. The market in terms of supply is projected to see interruptions, as Sugar substitutes produced by several major players globally cater to the end-users. However, regional consumption is projected to rise in the respective market, as consumers are increasingly focusing on maintaining weight, resulting in different diets for maintaining good health. These factors altogether projected to drive the demand for Sugar substitutes.

The global sugar substitute’s market report would provide an access to approximately 73 market data tables, 57 figures and 170 pages

FAQ

What is the Sugar Substitutes Market growth?

The market is growing at a CAGR of 4.9%.

What is Sugar Substitutes Market size in 2021

The Sugar Substitutes Market size was valued at USD YY million in 2021.

Who are the key players in Sugar Substitutes Market?

Cargill Incorporated, Roquette Frères, PureCircle Ltd, MacAndrews & Forbes Holdings Inc.

Trending Topics

Liquid Sugar Market

Food Sweeteners Market

Food Color Market

Did not find what you were looking for?Every 7 out of 10 customers request tailored reports. Get yours today!
We collate your requirements.
Our global research team is put into action.
We deliver, and make sure your endeavour is a success!

Buy This Report

20% Discount Applied*



Note*: For "Bundle/Bulk" Subscription of Reports,
please contact: [email protected]

Get your free sample proposal with a single click!

linkedinpinterest