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Sugar Substitutes Market Size, Share Report And 2033
Sugar Substitutes Market Size
As per the report, 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 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%.
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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.
Sweetener For Providing Healthier Products
Major companies in the sugar substitutes market are focused on developing sweeteners, such as zero-calorie sweeteners, to provide healthier products and gain a competitive edge in the market. A zero-calorie sweetener is a sugar substitute that provides sweetness to food and beverages without contributing calories to the diet. For instance, in November 2022, Tate & Lyle PLC, a UK-based supplier of food and beverage products, launched ERYTESSE Erythritol, a zero-calorie sweetener with 70% of the sweetness of sucrose. This addition facilitates growing consumer demand for healthier, reduced-sugar, and reduced-calorie products. ERYTESSE Erythritol can be utilized in various categories, including beverages, dairy, bakery, and confectionery, providing a sugar-like taste experience.
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
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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.
Contents of the report:
1. Executive Summary
2. Sugar Substitutes Market Report Structure
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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