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The Global Sugar-Free Food and Beverage Market is expected to grow at a 8.77 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the report:
- The growth of e-commerce provides opportunities to reach a broader consumer base.
- Ongoing research and innovation in the field of sugar substitutes, both artificial and natural, have expanded the range of options available to manufacturers.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- Formulating sugar-free products, especially in certain food categories like baked goods, can be challenging.
Sugar-free beverages are a fantastic and healthful option for sugar-based refreshments. These beverages also contain sugar, but the sweeteners added are often high fructose corn syrup, such as sucralose, neotame, saccharin and aspartame. Due to increased awareness, rising obesity and diabetes issues drive the demand for healthier food and beverage items. Furthermore, online shopping portals have better security features that increase sales and purchases and user-friendly website designs that provide enhanced and efficient product visibility. The rising demand for organically derived sweeteners and rising product premiumization are other aspects expected to positively impact the market throughout the forecast period. Obesity is becoming a global concern, which has increased the demand for sugar-free beverages.
The expanding influence of online commerce is significantly driving the expansion of the sugar-free food and beverage market. E-commerce has emerged as a market boom. An increase in e-commerce operators offering personalized shopping help and product suggestions, including sugar-free foods and beverages, will positively boost market expansion over the projection period. Convenience and simple payment methods linked with online buying assist customers in avoiding time-consuming journeys and billing lineups.
Market Segmentation:
The sugar-free food and beverage market is divided into product types and distributional channels. Based on product type, the sugar-free food and beverage market is segmented into beverages, dairy, confectionery, bakery, and others. Based on end-use, the sugar-free food and beverage market is segmented into supermarkets/hypermarkets, convenience stores, specialty stores, and online stores.
Based On Product, The Beverages Segment Is A Major Contributor To The Sugar-Free Food And Beverage Market.
The expanding influence of beverages is significantly driving the expansion of the sugar-free food and beverage market. The market is primarily driven by a significant demand for less sweetener-based carbonated drinks and energy drinks among the working and college-going populations in developed economies like the United States, the United Kingdom, and others. Various health groups have advocated that limiting sugar intake in beverages increases the global use of fewer artificial sweetener-based soft drinks.
The Online Segment Witnessed Growth At A Rapid Rate.
The online segment grabbed the highest revenue share, and it is anticipated that it will continue to hold that position during the anticipated time. The increased internet usage is due to the widespread use of smartphones and other similar devices. Furthermore, numerous e-commerce behemoths, like Amazon and JD.com, cooperate with food and beverage manufacturers and retail outlets to provide grocery items via their online channels. Furthermore, the expanding global consumer desire for an online platform for grocery shopping leads to market expansion over the predicted period.
The North American Sugar-Free Food And Beverage Market Holds A Significant Revenue Share In The Region
The North American sugar-free food and beverage market is expected to register the highest market share in revenue soon due to the increased number of obese and diabetic people, especially in the US, who are adopting sugar-free foods and beverages. Additionally, people in North America are more likely to favor nutritional items made from organic and natural ingredients that complement their natural tastes. This desire has increased the region's consumption of organic and natural foods and beverages without added sugar. The US, Canada, and Mexico primarily support the region's market. The robust distribution network between suppliers and merchants expands consumers' purchase alternatives, further supporting the market's expansion in the area. In addition, Asia Pacific is projected to grow rapidly in the global sugar-free food and beverage market. The rising prevalence of obesity and diabetes, rising health and wellness concerns, a well-established food and beverage industry, and a significant consumer demand for sugar-free goods are all responsible for the majority share of this regional market.
Competitive Landscape
Some Major Key Players In The Global Sugar Free Food and Beverage Market:
- Hershey,
- Mars,
- Nestle,
- Unilever,
- Coca-Cola,
- PepsiCo,
- Kraft Heinz,
- others
Global Sugar-Free Food and Beverage Market Report Scope
|
Report Attribute |
Specifications |
|
Growth Rate CAGR |
CAGR of 8.77% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Product Type, Distribution Channel |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Hershey, Mars, Nestle, Unilever, Coca-Cola, PepsiCo, Kraft Heinz, others |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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