Sugar Substitutes Market Size Report 2021-2027: Poor Demand in Underdeveloped Countries & High Growth Potential in Emerging Markets
As per Market Research Future (MRFR)’s analysis, the global Sugar
Substitutes Market Size has been projected to
proliferate at a steady CAGR over the forecast period (2017-2023). The
report suggests that the market is poised to scale a decent valuation owing to
changes in consumer behavior pattern. The shift witnessed towards the adoption
of healthy low-calorie food is expected to drive the expansion of the market over the next couple of years.
Key players are focusing on innovation and product development for
gaining a competitive edge over its competitors. The advent of natural
sweeteners has revolutionized the growth pattern of the Sugar Substitutes
Market Size. It is anticipated to show a similar
trend in the forthcoming years.
The rising prevalence of diabetes has created awareness about its
complications, long-term and short-term effects. It has led to a considerable rise in the consumption of sugar
substitutes in the past decade. In addition,
the accelerating global economic growth has unleashed tremendous growth
opportunities into the market. The rising per capita income coupled with an elevated standard of living is likely to boost
the growth trajectory of the Sugar
Substitutes Market Size over
the forecast period.
The changes in the food pattern have
catalyzed the demand for sugar substitutes across different industry verticals
such as food & beverage, bakery & confectionary, healthcare, etc. The
growth of these end-user industries is
also projected to catapult the Sugar Substitutes Market on an upward
trajectory. Furthermore, the adoption of sugar substitutes in the developing
nations is presumed to accelerate revenue creation for the market participants.
Industry
Updates
In February 2019, India-based TataNx from Tata Chemicals has
announced the launch of Zero sugar which is cent percent natural sweetener made
from lactose, herb extract, and stevia.
In September 2018, a leader in the development & production of
sustainable ingredients for clean beauty, health & wellness, and flavors
& fragrances, Amyris Inc., held a tasting event in New York to mark the
launch of a new sugarcane-derived zero-calorie sweetener. The sweetener has been developed by a California-based
ingredient company.
Regional
Analysis
The global Sugar Substitutes Market Size, by region, has been
segmented into North America, Europe, Asia Pacific, and the Rest of the World
(ROW). North America is anticipated to account
for the maximum share of the global market in the foreseeable future
owing to the changes in the food pattern. The rising application of sugar
substitutes in the food & beverage industry is anticipated to augment the Sugar
Substitutes Market through the review period.
Asia Pacific is forecasted to follow North
America in terms of market size. The changes in the lifestyle of the population are
projected to catalyze the expansion of the regional Sugar Substitutes Market over
the next couple of years. China is one of the major exporters of these
substitutes and is anticipated to contribute substantially to the development
of the market.
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Segmentation
By type, the global Sugar Substitutes Market Size has been segmented into high-intensity sweeteners,
low-intensity sweeteners, high-fructose syrups, and others. Among these, the
high-intensity sweeteners segment has been prognosticated to account for the
maximum share of the market in the upcoming years. The low-intensity sweeteners
segment is expected to secure the second spot in the marketplace.
By product type, the Sugar
Substitutes Market Size has been segmented
into high-intensity sweeteners category (acesulfame potassium (ace-k),
saccharin, aspartame, stevia, sucralose, others), low-intensity sweeteners
category (maltitol, xylitol, d-tagatose, erythritol, sorbitol, others). The
high-intensity sweeteners category is anticipated to hold the lion’s share of
the market and grow substantially over the
forecast period. The growth can be attributed to the increasing demand
from the healthcare and food & beverage industries.
By application, the global Sugar Substitutes Market Size has been segmented into bakery and confectionery,
beverages, dairy products, healthcare products, personal care products, and
others. Among these, the bakery and confectionery
segment is likely to scale a relatively higher valuation over the next couple of years followed by the
beverages segment.
By formulation, the Sugar Substitutes Market has been segmented into natural sweeteners and artificial sweeteners. The
growing demand for natural sweeteners is poised to lead the growth of the
segment across the projection period.
Competitive
Landscape
The major players profiled in this MRFR report are Cargill, Inc.
(U.S.), Ingredion Incorporated (U.S.), Tate & Lyle PLC (U.K.), The Archer
Daniels Midland Company (U.S.), E. I. du Pont de Nemours and Company (U.S.),
and Merisant Company (U.S.).
Contact
us:
Market
Research Future (part of Wantstats Research and Media Private
Limited),
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Hudson Street,5Th Floor, New York,
New
York 10013,
United
States of America
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