Sugar Substitutes Market Research Report 2023 - InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the " Global Sugar Substitutes Market By Source (Natural and Artificial), Type (High-fructose Corn Syrup (HFCS), Low-intensity Sweeteners and High-intensity Sweeteners), Product (Non-nutritive Sweeteners (Sucralose, Stevia, Acesulfame-K, Luo han guo (Monk Fruit), Saccharin, Neotame and Other Non-nutritive Sweeteners) and Nutritive Sweeteners (High Fructose Corn Syrup, Polyols, Aspartame and Other Nutritive Sweeteners)), Form (Solid and Liquid), Application (Beverages, Food, Nutrition and Health Supplements, Pharmaceuticals and Other Applications)- Trends, Industry Competition Analysis, Revenue and Forecast To 2030."

The global sugar substitutes market is estimated to reach over USD 26.93 billion by 2030, exhibiting a CAGR of 5.59% during the forecast period.

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A sugar substitute is an ingredient in a product that tastes sweet like sugar but has much fewer calories or fewer carbohydrates than sugar-based analgesics. They are made intentionally using chemicals and preservatives or from naturally occurring components found in nature. The main factor fueling market expansion is the rising demand for goods that support a healthy diet. Variations in sugar prices are anticipated to present opportunities for producers of sugar substitutes. These factors have caused the market to expand along with the number of diabetic patients and consumer awareness of health issues. Producers and manufacturers will increase their investment in the industry's research and development division to increase their market share over the projection period. In addition, there is a sharp increase in demand for immunity boosters and less-sugary products as consumers look for ways to improve their general health and well-being. Most health-conscious consumers are now choosing low-calorie or sugar-free food due to the COVID-19 pandemic. As a result, manufacturers and product formulators have been obliged to use sugar alternatives due to rising health consciousness and strong demand for sugar-reducing solutions among the global population. However, strict regulations and laws and unfavorable health implications linked to sugar substitutes are anticipated to restrain this market's growth somewhat.

List of Prominent Players in the Sugar Substitutes Market:
Tate & Lyle PLC, (U.K.)
Roquette Frères (France)
Archer Daniels Midland Company (U.S.)
Dupont De Nemours, Inc. (U.S.)
Cargill, Incorporated (U.S.)
Ingredion Incorporated (U.S.)
JK Sucralose Inc. (China)
Ajinomoto Co. (Japan)
The NutraSweet Co. (U.S.)
Sandsucker AG (Germany)
Guilin Lain Natural Ingredients Corp. (China)
Hucheng Haitian Pharm Co., Ltd. (China)
HSWT France SAS (France)
Stevia lite Holding (Colombia).

Market Dynamics:
Drivers-
Growth is primarily fueled by escalating demand for functional food products, rising rates of obesity and diabetes, and soaring natural sweetener demand. Additionally, increased R&D efforts to create sugar-free products and emerging economies offer major prospects for industry participants in sugar substitutes. The need for less sugary goods and increased immunity is rapidly growing as consumers look for ways to improve their overall health and well-being. Producers and manufacturers will increase their investment in the industry's research and development division to increase their market share over the projection period.

Challenges:
The high cost of sugar substitutes, manufacturers to product labeling and claim issues, as well as premium pricing for natural sweeteners because of their higher production costs and availability of resources, are factors expected to hamper the overall growth of the Sugar Substitutes market over the coming years. However, the strict government regulations and the negative health impacts of sugar replacements will partially restrain the expansion of this market.

Regional Trends:
The Asia Pacific region held the highest market revenue over the upcoming years. The Asia Pacific sugar substitute market is driven by consumers' changing lifestyles and increased health awareness. The sugar substitutes market in this region is going through a big change because of changing diets, growing urbanization, and free trade policies in the food industry due to significant investment and high demand for sugar substitutes solutions in China in the production of sugar substitutes, and key players profit from China.

Additionally, the North American region is expected to hold a significant share of the market. Because Americans care more about food ingredients and are prepared to pay more for healthier products, the U.S. dominates North America's market. The rising prevalence of obesity and diabetes, expanding health and wellness concerns, a firmly established food and beverage sector, and significant demand for sugar-free products are all contributing factors.

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Recent Developments:
• In February 2022, the Israeli food giant Tuna announced unveiling its newest venture capital fund, which will participate in the setup and corporations involved in the food technology sector. The business said that Tuna NEXT is an addition to the company's overall 2021 investments in food tech businesses, totaling NIS 30 million over the year.
• In December 2021 - A Fundtech startup named B.T. Sweet, Ltd. unveiled Cambium, a plant-based, drop-in sugar substitute for various food applications. The recent platform enables customers to enjoy their delicious cake guilt-free without sacrificing flavor or other organoleptic qualities.

Segmentation of Sugar Substitutes Market-
By Source-
• Natural
• Artificial
By Type-
• High-fructose Corn Syrup (HFCS)
• Low-intensity Sweeteners
• High-intensity Sweetener
By Product-
• Non-nutritive Sweeteners
o Sucralose
o Stevia
o Acesulfame-K
o Luo Han Guo (Monk Fruit)
o Saccharin
o Neotame
o Other Non-nutritive Sweeteners
• Nutritive Sweeteners
o High Fructose Corn Syrup
o Polyols
o Aspartame
o Other Nutritive Sweeteners
By Form-
• Solid
• Liquid
By Application-
• Beverages
• Food
• Nutrition and Health Supplements
• Pharmaceuticals
• Other Applications
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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This release was published on openPR.