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Sucralose Market Trends Analysis, Market Opportunities, Key Players, Share And Forecast To 2033
Sucralose Market Trends
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According to The Business Research Company's, The sucralose market size has grown strongly in recent years. It will grow from $3.76 billion in 2023 to $4.09 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to increased health awareness and demand for low-calorie sweeteners, growth in diabetic and health-conscious consumer base, demand for processed and convenience foods, expansion of food and beverage industry, regulatory approvals and acceptance of sucralose as safe sweetener.
The sucralose market size is expected to see strong growth in the next few years. It will grow to $5.65 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to rising global obesity rates and focus on weight management, preference for non-nutritive sweeteners in food and beverage industry, increasing applications in pharmaceuticals and nutraceuticals, shift towards natural sweeteners and clean label products, emerging markets and increasing disposable income in developing countries. Major trends in the forecast period include innovation in product formulations and applications (e.g., baking, beverages), technological advancements in sucralose production, non-gmo and organic sucralose, stevia-sucralose blends, sugar reduction initiatives, customized sweetness profiles.
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Market Drivers and Trends:
An increase in demand from health-conscious people is expected to drive the growth of the sucralose market. People are nowadays more concerned about their health so; they opt for health-conscious diet plans and consume health-related products and services. People who are not more concerned about health are at higher health risk. The increase in individuals suffering from obesity, heart diseases, and diabetes will force people to lead a healthy lifestyle. For instance, in June 2021, according to the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations responsible for international public health, with at least 2.8 million people dying each year from being overweight or obese, obesity has reached epidemic proportions on a global scale. Additionally, in October 2022, the Centers for Disease Control and Prevention report, a US-based national public health agency, 6 in 10 Americans are suffering from at least one chronic disease like cardiovascular, cancer, or diabetes. These diseases can be prevented by reducing the risk factors i.e., unhealthy diet, physical inactivity, and obesity. Therefore, an increase in demand from health-conscious people drives the growth of the sucralose market.
The product launches are shaping the sucralose market. Key companies are adopting innovations and key strategies for better products to excel in the sucralose market. For instance, in May 2022, Lifeasible, a US-based agro-related products and services company, launched nine new sweeteners to its food additives line. The aim was to support researchers in developing healthier foods. Sweeteners, which can be derived from natural plant extracts or artificial sources, are used as sugar substitutes in various products. Lifeasible's new offerings include Regular Stevia, Rebaudioside A, Rebaudioside E, Enzymatically Modified Stevia, Healthy ready-to-eat sugar, Sucralose, Xylitol, Erythritol, and Sorbitol
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Major Key Players of the Market:
Tate & Lyle PLC, JK Sucralose Inc., Nantong Changhai Food Additive Co Ltd., Ingredion Incorporated, Newtrend Group, BioPlus Life Sciences, Techno Food Ingredients Co Ltd, Niutang Chemical Ltd., Guangdong Food Industry Research Institute Co. Ltd., Changzhou Hanbang Food Co. Ltd., Xiamen Boao Technology Co. Ltd., Vitasweet co ltd., LAndP Food Ingredient Co Ltd., Unitech Sweet Ltd., ECPlaza Network Inc, Eastern Food Chem Co Ltd., Galam Ltd., Evolva Holding, SaIngredion Inc., Nutrasweet co, Beckmann-Kenko GmbH, Garuda International Inc., HYET Sweet S.A.S., Jiangxi Bentian Food Technology Co Ltd., Hubei Yitai Pharmaceutical Co Ltd., Heartland Food Products Group, E. I. du Pont de Nemours and Company, Cargill Incorporated, Roquette Frères S.A., PureCircle Limited
Sucralose Market 2024 Key Insights:
• The sucralose market size is expected to see strong growth in the next few years. It will grow to $5.65 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
• Rising Health Concerns Propel Sucralose Market
• New Sweeteners To Promote Healthier Food Research
• Asia-Pacific was the largest region in the sucralose market share in 2023
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