Increasing preference among consumers towards low-calorie beverage and food products and the rising demand for sugar substitute products from the beverage and food industry are driving the demand of the market.
The international stringent quality standards set for sugar substitutes and uncertainty regarding sugar substitutes’ adverse effects might hamper the industry’s growth. Additionally, the product claim issue might act as a restraint to the growing sales of the product in the global sugar substitute industry over the forecast period.
The rapid urbanization, coupled with the increasing spending power of consumers on processed food and beverages in the developing economies, is most likely to propel the industry’s growth of the region. Besides, the presence of a large number of key manufacturers in the Asia Pacific region is expected to drive the demand of the industry. The increasing investments in the R & D to introduce novel products containing blends of sugar substitutes and prebiotics or probiotics are projected to present lucrative opportunities for the emerging players in the industry.
The Global Sugar Substitutes Market report offers a detailed analysis of the global market size, regional and country-level analysis of the market, segment growth, competitive landscape, sales analysis, industrial chain analysis, opportunities, recent developments, regulatory framework, market growth analysis, and strategic market initiatives.
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Key Market Dynamics: The global Sugar Substitutes market research report details on the ongoing market trends, development outlines, and several research methodologies. It illustrates the key factors that directly manipulate the market, for instance, production strategies, development platforms, and product portfolio. According to our researchers, even minor changes within the product profiles could result in huge disruptions to the above-mentioned factors. Each of these factors has been elaborately discussed in the initial segment of the study.
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Key Highlights From The Report
- The natural segment held the largest market share of 56.4% in the year 2019. The shift of consumer preferences from synthetic or artificial sugar substitutes towards natural and organic products is expected to drive the growth of the industry. 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.
- The Low-intensity sweeteners are forecasted to grow with the fastest CAGR of 5.0% over the forecast period as they are used extensively in the food & beverage industry.
- The Stevia dominated the market for sugar substitutes in 2019 due to its zero calories and zero glycemic index characteristics. For example, over the past five years, approximately 10,000 stevia-based beverages and food products have been introduced, out of which most of the launces included soft drink production.
- The Asia-Pacific region is anticipated to be the fastest-growing region over the forecast period due to the growing disposable income and increasing health-conscious population.
- Key participants 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, among others.
The findings of the report explain various aspects of the market, such as market status, developmental prospects, key regional segments, renowned market players, product offerings, end-use industries.
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The Sugar Substitutes market intelligence report talks about the market size, share, value, and production cost analysis over the forecast period 2019-2027.
- Origin Outlook (Revenue, USD Billion; 2017-2027)
- Artificial/Synthetic
- Natural
- Type Outlook (Revenue, USD Billion; 2017-2027)
- High-fructose syrups
- Low-intensity sweeteners
- High-intensity sweeteners
- Composition Outlook (Revenue, USD Billion; 2017-2027)
- Sugar Alcohols
- Stevia
- Saccharine
- Sucralose
- Cyclamate
- Aspartame
- Others
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Beverage
- Food
- Pharmaceuticals
- Personal care
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