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Sugar Substitute Market : Industry Insights By Growth, Emerging Trends And Forecast By 2025

01-15-2020 11:28 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Kenneth Research

Sugar Substitute Market : Industry Insights By Growth, Emerging

Sugar Substitute Market: Introduction
The sugar substitute is a food additive that tastes like sugar. It has less food energy when compared to sugar, which makes it a zero-calorie sweetener. Sugar substitutes are primarily chemical or plant-based components that sweeten the drinks and foods flavors, and are produced naturally, and synthetically.

They are also known as the “non-caloric sweeteners” or “artificial sweeteners” and is being used as a constituent in processed drinks and foods. The increasing adoption of natural and herbal food consumption habit is further expected to foster the demand for natural sugar substitutes like stevia.

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Market Dynamics
According to Insights and Reports, the global sugar substitute market size is expected to reach revenue of $9.66 billion by 2025, growing at a CAGR of 3.75% during the forecast period. The market is accelerating owing to the growing demand for low-caloric food products with healthy lifestyle adoption based on rising health issues such as diabetes, heart disease and obesity.

Most health issues are primarily found among people above 45 years of age and is anticipate to fuel the sugar substitute market share in the coming years. Additionally, various tax are being implemented on using sugar substitutes in the food & beverages owing to the customer inclination towards healthy lifestyle. For instance, the tax has been implemented on polyol sugar-sweetened beverages by the Mexican government at USD 0.057 per liter, which foster the consumer’s concerns over dietary habits, thus fostering the market growth.

The demand for sugar substitutes is spurring across the globe, primarily in the beverage industry, as the sweetness intensity fluctuates from drink to drinks, and are widely used.

The market growth is driven by the factors like quality of the sugar substitutes, the mixture and content in processing foods, the standards enforced by local and international governments. For instance, in 2016, the Food and Drug Association (FDA) in US have tested and approve some artificial sweeteners, they are acesulfame aspartame, sucralose, neotame, saccharin, and advantame.

These sweeteners are being used by food and beverage industries to make baked goods, frozen desserts, diet drinks, and light yogurt. Thus, with the increasing for low-caloric food products has further accelerated the growth of sugar substitutes market across the globe.

High fructose syrup is holding the major share of the global sugar substitute market
On the basis of product, the sugar substitute market size is categorized as high-intensity sweeteners (HIS), low-intensity sweeteners (LIS), and high fructose syrup. Among which high fructose syrup is dominating the market, holding $ 3.33 billion in 2017 and expected to grow with a CAGR of 3.61% during the forecast period.

This is primarily being used by the food and beverage manufacturers to produce textures, flavors, and freshness that provide the needs of consumers with minimum manufacturing costs.

HIS accounts for 33.12% in 2017, and expected to grow with a high CAGR over the coming years. Changing health and fitness trends across the globe are accelerating the use of high-intensity sweeteners in the food & beverage industry.

With the growing emphasis on reducing the intake of sugar for health-conscious people is increasing, thus the sugar substitute manufacturers are manufacturing low-calorie foods.

Additionally, the manufacturing companies such as Archer Daniels Midland, Cargill Inc., and others are an emphasis to develop low calorific foods, and low in glycemic carbohydrates with the flavor, stability, and texture. For instance, in 2018, the U.S.

Food and Drug Administration (FDA) has announced the companies to adopt its revised Nutrition Facts panel, which provides a low-calorie count and a new line for added sugars. Additionally, the growing consumption of low-calorie food is enhancing the growth of the segment.

Beverages had the major revenue share of the global sugar substitute market in 2017
Based on the end-use industry, the sugar substitute market size is categorized as the beverage, food, healthcare, personal care, and others.

Among which, the beverage industry is dominating the market with $ 2.97 billion in 2017, and is expected to grow with a CAGR of 3.27% during the forecast year. This segment is anticipated to dominate the market over the coming years due to growing demand for natural health drinks such as amla juice, pomegranate juice and sports drinks such as orange and electrolyte juice with enhanced nutritional value. Increasing use of sweeteners in the manufacturing of beverages is expected to benefit the sugar substitute market.

Food segment includes bakery, dairy, confectionery, and frozen foods and is growing owing to changing consumer patterns and increasing awareness about low-calorie food products.

The use of sugar substitute like stevia, aspartame, cyclamate, and others have increased in the recent years due to the increasing awareness about food consumption among overweight and diabetic population.

The sugar substitutes are widely being used in canned foods, powdered drink mixes, baked goods, dairy products, and soft drinks. Moreover, with the growth for low-sugar foods among diabetic and diet-conscious people, and the increasing demand of diet liquids foods, is further projected to accelerate the sugar substitute market growth.

North America region led the global sugar substitute market in 2017
North America is dominating the market with $ 2.43 billion in 2017, and is anticipated to grow with a CAGR of 2.91% during the coming years. The market is experiencing growth due to booming food processing industry, increasing incidence of diabetes, and rising obesity among the population.

For instance, according to the IDF Diabetes Atlas 8th Edition in North America estimated 45.9 million adults between 20-29 years are diagnosed with diabetes in 2017, and is further anticipated to increase by 13% in the coming years. Thus, with the increase in the diabetes among adults have increased the demand of sugar substitute market. Additionally, U.S and Canada contribute major share in the sugar substitute market owing to advanced products launch, technological advancements, and increasing health concerns among individuals in various countries in the region.

Asia Pacific is anticipated to grow with the highest CAGR, during the forecast period, with China, and Japan being the major manufacturing hub of sugar substitute market. The market is witnessing growth due to better living standards among the middle-class population, and better spending power among consumers. Additionally, growing concerns about health among the health-conscious people is expected to be a major factor that is expected to propel market growth.

Competitive Landscape
Key players operating in the global sugar substitute market include Ajinomoto Co., Inc., Archer Daniels Midland, Cargill Inc., DuPont, Ingredion Incrporated, JK Sucralose Inc., Pure Circle Limited, Roquette, Tate & Lyle, and The Nutra Sweet Company, among others.

Read More:-https://www.kennethresearch.com/report-details/sugar-substitute-market/10220962

Several key players to stay competitive in the global sugar substitute market involve in the new product enhancement, partnership, mergers and acquisitions various strategic moves in order to sustain the increasing product demand. Some of the key strategic moves by some companies are given below:

1. In 2018, PureCircle, producer and innovator of sweetener has risen the production of StartLeaf stevia by almost 200%, to meet the increasing demand of sweeteners across food and beverage industry.

2. In 2018, GLG Life Tech Corp, producer of zero-calorie natural sweeteners has launched a new product -Reb M sweetener in partnership with Archer Daniels Midland Co., a marketing partner. This sweetener is made of Reb M Dream Sweetener stevia leaf, in which Reb M steviol glycoside is present in a high quantity to taste like a natural sugar.

Contact Us:-
Name: David
Email : Sales@kennethresearch.com
Phone: +1 313 462 0609

About Kenneth Research:-
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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