The market size of the global sugar substitutes market in the year 2021 is valued at 16.67 billion and is predicted to reach 26.93 billion by the year 2030 at an 5.59% CAGR during the forecast period.
Food additives known as sugar substitutes have the same flavour as sugar but less food energy than other sugar-based sweeteners. These sugar substitutes are widely utilized as a substitute for sugar in food products by food makers. The main driver of the sugar substitute market's expansion is the increased consumer awareness of sugar alternatives and the rising demand for zero-calorie or low-calorie goods. The increasing demand for bakery goods and beverages strongly impacts the global sugar substitute market. The primary use of sugar substitutes is to lower costs and use less sugar in the production of food items, which expands R&D prospects and gives manufacturers a competitive edge. Manufacturers of sugar substitutes could benefit from fluctuations in the price of sugar.
The producers and manufacturers' increased expenditure in the market's R&D division will aid in securing a more significant share during the forecasted time. However, the strict government regulations and the negative health impacts of sugar replacements will partially restrain the expansion of this market.
Market Segmentation:
The sugar substitute market is segmented by source, type, product, form and application. Based on source, the market is segregated into Natural and Artificial. Based on type, the market is segregated into High-fructose Corn Syrup (HFCS), Low-intensity Sweeteners and High-intensity Sweeteners. Based on product, the market is segregated into Non-nutritive Sweeteners (Sucralose, Stevia, Acesulfame-K, Luo han guo (Monk Fruit), Saccharin, Neotame and Other Non-nutritive Sweeteners) and Nutritive Sweeteners (High Fructose Corn Syrup, Polyols, Aspartame and Other Nutritive Sweeteners). Based on form, the market is segregated into Solid and Liquid. Based on application, the market is segmented into Beverages, Food, Nutrition and Health Supplements, Pharmaceuticals and Other Applications.
Based on type, the high-intensity sweeteners segment is accounted as a significant contributor to the sugar substitutes market.
The high-intensity sweeteners sector is anticipated to have the highest growth. The main reasons influencing the demand for high-intensity sweeteners are the vast range of uses, cheap production costs, simplicity of handling, and low cost compared to other sugar alternatives. Additionally, this area includes the most popular low-calorie artificial sweeteners, contributing to its growth.
The natural segment witnessed growth at a rapid rate.
The natural segment is projected to increase in the global sugar substitute market. The highest growth in this market may be mainly attributable to rising consumer knowledge of the benefits of eating foods with natural ingredients, increasing consumer demand for clean-label and healthy products, and rising adoption of stevia and other natural sugar alternatives by top food and beverage firms., especially in countries such as the US, Germany, UK, China, and India.
The Asia Pacific sugar substitute market holds a significant regional revenue share.
The Asia Pacific regional market is registering the highest market share in revenue shortly. The high proportion of the region is due to the rising prevalence of diabetes and obesity, the growing interest in health and wellbeing, the region's well-established food and beverage industry, and the high demand for sugar-free goods.
North American region market held a significant revenue share in the market. The rise in patients with lifestyle disorders like diabetes, obesity, and cardiovascular conditions, as well as rising consumer awareness of value-added food products, are all contributing factors to the market expansion. Additionally, the trend toward leading a healthy lifestyle and the rise in demand for low-calorie food items are the other significant reasons boosting the sugar substitute market's expansion.
Competitive Landscape
Some of the major key players in the sugar substitutes market are Tate & Lyle PLC (U.K.), Roquette Frères (France), Archer Daniels Midland Company (U.S.), Dupont De Nemours, Inc.(U.S.), Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), JK Sucralose Inc. (China), Ajinomoto Co. (Japan), The NutraSweet Co. (U.S.), Sandsucker AG (Germany), Guilin Lain Natural Ingredients Corp. (China), Hucheng Haitian Pharm Co., Ltd. (China), HSWT France SAS (France), and Stevia lite Holding (Colombia).
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