The global Sugar Substitutes market size is projected to reach USD 16,040 Million by 2026, from USD 13790 Million in 2020, at a CAGR of 2.6% during 2021-2026.
Major factors driving the growth of Sugar Substitutes market size are the increase in health consciousness among consumers to encourage the demand for healthier food choices, increase in demand for natural sweeteners due to the rise in consumer inclination toward natural products, and growing demand for sugar substitutes in various applications in the food & beverage industry.
The report offers a comprehensive Sugar Substitutes Market forecast and accurate statistics on revenue by the player for the period 2021-2026. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by players for the period 2021-2026.
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TRENDS INFLUENCING THE SUGAR SUBSTITUTES MARKET SIZE
An increase in health consciousness among consumers is expected to drive the sugar substitute market size. Customers have become more mindful of healthy food and beverage options. They are increasingly demanding healthier, low-calorie food & drinks due to rising health problems. Most health-conscious consumers prefer sugar substitutes because they contain fewer calories than normal sugar.
An increase in investments in R&D activities by manufacturers to develop newer and enhanced products is expected to fuel the sugar substitutes market size. Manufacturers are steadily investing in the R&D of new sugar alternatives to gain a greater market share than their rivals. Many food & beverage manufacturers are replacing standard sugars with sugar substitutes to reduce the calorie content of the final products.
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SUGAR SUBSTITUTES MARKET SHARE ANALYSIS
Based on type, the High-Intensity segment is expected to hold the largest sugar substitutes market share during the forecast period. The rising focus on reducing overall sugar intake, combined with the increasing number of health-conscious people, is encouraging the food and beverage industry to respond to increasing customer demand for healthier food. Companies operating in the industry are focused on the production of food and beverages that help fulfil the weight loss and dietary targets of their consumers.
Based on application, the beverage segment is expected to hold the largest sugar substitutes market share during the forecast period. Sugar substitutes are currently preferred in beverages, such as dietary carbonated drinks, flavoured water, and other drinks. Stevia is a primary substitute for sugar used in beverages as it has reduced-calorie and zero glycemic indexes.
Based on the region, North America is expected to hold the largest sugar substitutes market share. Increasing understanding of low-calorie foods and the benefits of using sugar substitutes in daily diets is likely to fuel demand for these items. This dominance of North America is attributed to the pressure exerted by regulatory bodies on sugar substitute producers.
Asia-Pacific region is expected to witness the highest growth during the forecast period. This rapid growth is due to the change in the lifestyle of customers and the increase in health consciousness among them. The market in this region is undergoing a dramatic change in food diversification, rapid urbanization, and liberal trade policies in the food sector. In addition, growing consumer perception of health problems, increasing consumer preference for health-friendly food products, and increasing income and buying power are the main factors that are driving the growth of sugar substitute market size.
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Segment by Type, the Sugar Substitutes market is segmented into
- High-Intensity
- Low-Intensity
- High Fructose Syrup.
Segment by Application, the Sugar Substitutes market is segmented into
- Beverages
- Food
- Health & Personal Care.
The major vendors covered:
- Tate & Lyle
- Cargill
- Purecircle
- Roquette Frères
- Dupont
- Archer Daniels Midland
- Ajinomoto
- Ingredion Incorporated
- Macandrews & Forbes Holdings
- Jk Sucralos.
- Others...
"We can also add the other companies as you want"
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