Sugar Substitutes Market is Projected to Reach $24.3 billion by 2028

The global market for sugar substitutes is expected to reach USD 18.8 billion by 2023 and USD 24.3 billion by 2028, with a compound annual growth rate of 5.2% during the forecast period.

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Lifestyle diseases like diabetes, obesity, and heart disease are a growing concern for society and governments worldwide due to their high mortality rates. These diseases have a significant correlation with dietary factors such as increased consumption of sugar-sweetened foods and drinks. As a result, consumers and food manufacturers are gradually turning to sugar substitutes that provide sweetness and flavor to food without the added calories of sugar. Unlike sugar, they do not raise blood sugar levels and may be helpful in treating metabolic disorders like diabetes.

The artificial segment is expected to have the largest market share among high-intensity sweeteners by 2023. The shift towards low-calorie artificial sweeteners has been driven by the rise in obesity, diabetes, and metabolic syndrome, as well as increased consumer awareness. Artificial sweeteners, also known as non-nutritive sweeteners (NNS) or intense sweeteners, provide more intense sweetness with little or no calories per gram and are used in beverages, dietary products, medications, and even mouthwashes. The US Food and Drug Administration has already designated six of these additives, including aspartame, saccharin, sucralose, neotame, acesulfame-K, and stevia, as "generally recognized as safe."

In 2023, the beverage segment is expected to experience the fastest growth rate among all other applications in the sugar substitutes market. The beverage industry is under pressure to produce products with less sugar or sugar from sources that are considered healthier due to increased awareness, research, legislation, and even the popularity of certain diets. Brands are responding to the increased demand for beverages with less sugar by using creativity and an expanded range of sweetener alternatives.

The North American region is experiencing the highest growth rate in the sugar substitutes market. Diet-related diseases are among the leading causes of death in the US. The typical American diet contains a significant amount of added sugars, which may have a negative impact on health. According to a scientific study titled 'Prioritizing noncommunicable diseases in the Americas region in the era of COVID-19' published in 2022, NCDs account for 80.7% of all fatalities in the Americas. In 2009, the NYC Health Department formed the National Salt and Sugar Reduction Initiative (NSSRI), which brought together groups and health authorities from across the country.

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The initiative released its goals for reducing sugar across 15 categories of foods and beverages in February 2021. The program urges food and beverage companies to commit to voluntary reduction targets for salt and sugar. Additionally, research by Nutrisystem and OnePoll in 2022 indicated that over 70% of Americans are more concerned about their physical health post-COVID outbreak. The growing demand for food products with health or environmental benefits to combat metabolic illnesses is changing how consumers view food and driving the expansion of the sugar alternatives market.

The key players in the sugar substitutes market include International Flavors & Fragrances Inc. (US), ADM (US), Tate & Lyle (UK), Ingredion (US), and Cargill, Incorporated (US).

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