Sugar Substitutes Market Key Players, Demands, Revenue, Size, Share and Forecasts to 2028

The sugar substitutes market refers to the industry that produces and sells alternative sweeteners to sugar. These sweeteners are used as a substitute for sugar in various food and beverage products.

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The sugar substitutes market is projected to grow from USD 18.8 billion in 2023 to USD 24.3 billion by 2028 growing at a CAGR of 5.2% during the forecast period. Food and beverage manufacturers are increasingly employing sugar substitutes namely artificial sweeteners to replace corn syrup or sugar in a variety of food products that contain sugar. Artificial sugar substitutes are less expensive than natural sweetening agents and aid in delivering increased profit margins. Sugar substitutes are generally used in processed foods such as soft drinks, baked goods, candy, powdered drink mixes, puddings, jams and jellies, canned foods, dairy products, and other food & beverages. Sugar substitutes are also majorly used for household applications. Some sugar substitutes even find applications in baking or cooking. Moreover, the rising trend of health consciousness and fitness is propelling the growth of the market.

The global sugar substitutes market has been growing steadily in recent years due to the rising health concerns related to the consumption of sugar.

Leading players profiled in this report:

ADM (US)
International Flavors and Fragrances Inc. (US)
Tate & Lyle (US)
Ingredion Incorporated (US)
Cargill Incorporated (US)
Roquette Frères (France)
PureCircle (US)
MacAndrews & Forbes Holdings Inc. (US)
JK Sucralose Inc. (China)
Ajinomoto Co. Inc. (Japan)
Stevia Hub India (India)
Suminter India Organics (India)
Tag Ingredients (India)
The Real Stevia Company AB (Sweden)
Sweetly SteviUSA (US)
Pyure Organics (US)
Xilinat (Mexico)
Fooditive (Netherlands)
Sagana (Switzerland)
Hearthside Food Solutions LLC (US)

These companies offer a wide range of sugar substitutes, including aspartame, sucralose, stevia, and monk fruit extract, among others.

The demand for sugar substitutes is driven by various factors, including the increasing prevalence of diabetes and obesity, changing consumer preferences for low-calorie and natural sweeteners, and the growing awareness of the harmful effects of excessive sugar consumption.

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In addition, the sugar substitutes market is also being driven by the increasing demand for sugar substitutes in the food and beverage industry, as well as the growing use of sugar substitutes in pharmaceuticals and personal care products. However, there are also concerns regarding the safety of some sugar substitutes, which could limit their growth in certain regions.

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This release was published on openPR.