Sugar Substitutes Market 2020: Global Report, Size, Share, Growth, Key Players and Forecast Till 2025
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
The competitive landscape of the market has been examined, with some of the key players being Tate & Lyle PLC, Cargill, Incorporated, PureCircle Limited, Roquette Frères S.A., E. I. du Pont de Nemours and Company, Archer Daniels Midland Company, Ajinomoto Co. Inc., Ingredion Incorporated, Flavors Holdings Inc. and Jk Sucralose Inc.
Global Sugar Substitutes Market Trends:
Rapid urbanization, sedentary lifestyles and the increasing consumption of sugar-loaded products are resulting in the growing prevalence of obesity and other chronic diseases across the globe. As a result, individuals are making healthier choices and gravitating towards low-calorie products, which in turn is strengthening the sugar substitutes market growth. Apart from this, as the consumption of sugar results in tooth decay since the bacteria present in dental plaque metabolize sugar and release acid that can damage the teeth enamel, the demand for sugar substitutes is escalating worldwide. This can also be accredited to the dental benefits offered by sugar substitutes like stevia and their assistance in hindering the formation of plaque. Further, prominent vendors operating in the food and beverage (F&B) industry are replacing conventional sweeteners with artificial sweeteners in a diverse range of products to introduce low-calorie product variants and expand their existing consumer base. Looking forward, the market value is projected to reach US$ 19.8 Billion by 2025, growing at a CAGR of 3.8% during the forecast period (2020-2025).
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Key Market Segmentation:
Market Breakup by Product Type:
1. High-Intensity Sweeteners
2. Low-Intensity Sweeteners
3. High-Fructose Syrup
Based on the product type, the market has been segmented into high-intensity (stevia, aspartame, cyclamate, sucralose, saccharin and others); low-intensity sweeteners (D-Tagatose, Sorbitol, Maltitol, Xylitol, Mannitol and others); and high fructose syrup. Amongst these, high-intensity sweeteners exhibit a clear dominance in the market.
Market Breakup by Application:
3. Health and Personal Care
On the basis of the application, the market has been segregated into food products, beverages, and heart and personal care. Sugar substitutes are most widely used in the preparation of different beverages
Market Breakup by Origin:
The market has been analyzed on the basis of the origin into natural and artificial products. At present, artificial sugar substitutes account for the majority of the total market share.
Market Breakup by Region:
1. North America
3. Asia Pacific
4. Middle East and Africa
5. Latin America
On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
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