Press release
Sugar Substitutes Global Market Size, Share, Emerging Trends, Growth Drivers, Analysis, Report and Forecast 2024-2033 | PureCircle Limited, Biosweet Ventures, Merisant Company, Stevia Corp, Manus Bio Inc.
Sugar Substitutes Market
The Business Research Company offers in-depth market insights through Sugar Substitutes Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The sugar substitutes market size has grown strongly in recent years. It will grow from $21.86 billion in 2023 to $23.38 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to health and wellness trends, rising obesity concerns, diabetic population growth, government initiatives, changing consumer preferences.
The sugar substitutes market size is expected to see strong growth in the next few years. It will grow to $32 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to continued health consciousness, rising diabetic cases, clean label preferences, innovations in product formulations, global dietary shifts. Major trends in the forecast period include expansion of stevia-based sugar substitutes, utilization of monk fruit extract as a natural sweetener, development of sugar substitute syrups and liquid forms, focus on clean taste and flavor enhancement, collaborations for research and development in sugar substitute technologies.
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Market Segmentation:
The sugar substitutes market covered in this report is segmented -
1) By Type: High Intensity, Low Intensity, High Fructose Syrup
2) By Origin: Natural, Artificial
3) By Form: Solid, Liquid
4) By Application: Food, Beverages, Nutrition And Health Supplements, Pharmaceuticals, Animal Feed, Personal Care
Major Driver - Rising Obesity And Diabetes Rates Drive Growth In The Sugar Substitutes Market
The increasing prevalence of obesity and diabetes among the population is propelling the growth of the sugar substitutes market. A large portion of the population is choosing low-sugar options to manage their diabetes and obesity conditions. Sugar substitutes help control high blood pressure, body weight, and blood sugar levels in patients facing diabetes or obesity health issues. For instance, in 2022, Centers for Disease Control and Prevention, a US-based national public health agency, around 37.3 million people are suffering from diabetes which equals 11.3% of the United States population. Additionally, according to the International Diabetes Federation's December 2021 report, a Belgium-based leading global diabetes community approximately 537 million adults are suffering from diabetes globally, whereas 3 out of 4 adults are in low- and middle-income countries. Therefore, the increasing prevalence of obesity and diabetes is expected to fuel the growth of the sugar substitutes market in the coming years.
Competitive Landscape:
Major companies operating in the sugar substitutes market report are Cargill Incorporated, Archer Daniels Midland Company (ADM), E. I. du Pont de Nemours and Company, International Flavors & Fragrances Inc., Ajinomoto Co Inc., Kerry Group plc, Ingredion Incorporated, DuPont Nutrition & Biosciences Inc., Roquette Frères S.A., Tate & Lyle plc, JK Sucralose Inc., Whole Earth Brands Inc., PureCircle Limited, Biosweet Ventures, Merisant Company, The NutraSweet Company, Manus Bio Inc., Pyure Brands LLC, Hermes Sweeteners Ltd., GLG Life Tech Corporation, Wisdom Natural Brands Corp, Hunan Nutramax Inc., Sweetly Stevia USA, Morita Kagaku Kogyo Co Ltd., Stevia Corp, Shandong Aojing Biotechnology Co Ltd., Sunrise Nutrachem Group Co Ltd., Xianghua GL Stevia Co, Matsutani Chemical Industry Co Ltd., Hill Pharmaceutical Co Ltd., BioVittoria Limited, Nutrinova Nutrition Specialties & Food Ingredients GmbH, SinoSweet Co Ltd., Suzhou Hope Technology Co Ltd.
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Top Trend - Innovative Products To Maximize Profits In The Market
Major companies in the sugar substitutes market are focused on developing innovative sugar substitutes, such as natural alternatives, to maximize their profits in the market. Natural alternatives refer to products derived from substances found in nature, free from synthetic ingredients. For instance, in June 2023, Wisdom Natural Brands, a US-based company that specializes in consumer goods, launched SweetLeaf Indulge Zero Calorie Sweeteners and 50% Reduced Calorie Sugars, a natural sugar alternative. Addressing taste and performance concerns with existing substitutes, these products combine natural sweeteners, including stevia and monk fruit, providing a broader appeal.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Sugar Substitutes Market Characteristics
3. Sugar Substitutes Market Trends And Strategies
4. Sugar Substitutes Market - Macro Economic Scenario
5. Sugar Substitutes Market Size And Growth
…..
27. Sugar Substitutes Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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