Press release
Sugar Substitutes Market Share, Latest Trends, Growth Drivers, Opportunities, Key Segments, Leading Players, and Forecast - 2029
MarketsandMarkets™
The global sugar substitutes market [https://www.prnewswire.com/news-releases/sugar-substitutes-market-worth-29-90-billion-by-2029--exclusive-report-by-marketsandmarkets-302289935.html] is valued at USD 23.56 billion in 2024 and is expected to grow at a CAGR of 4.9%, reaching USD 29.90 billion by 2029. This market has witnessed significant expansion, particularly in emerging sectors like personal care and pharmaceuticals.
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In the personal care industry, sugar substitutes such as xylitol are widely used in oral care products, chewing gums, and cosmetics, offering sweetness without the negative effects of sugar while promoting dental health. Similarly, in the pharmaceutical sector, substitutes like sucralose, aspartame, and saccharin enhance the taste of medications, especially in liquid or chewable forms, improving compliance among pediatric patients.
The increasing awareness of sugar substitutes' ability to enhance product appeal and consumer experience is a key driver behind their growing adoption across these industries.
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The stevia segment in the sugar substitutes market is projected to have a significant share.
Stevia-based sweeteners, which are free from carbohydrates and calories, serve as an excellent alternative for individuals managing blood glucose levels and insulin response, making them particularly beneficial for diabetes patients seeking greater dietary flexibility. Additionally, stevia contains sterols and antioxidants like kaempferol, which has been shown in studies to reduce the risk of pancreatic cancer by 23%. Recognizing these advantages, Heartland Food Products Group, the owner of the Splenda brand, invested USD 50 million in 2023 to develop a stevia plantation in central Florida. The rising demand for natural, ethical, and zero-calorie sweeteners, coupled with the increasing prevalence of metabolic disorders, is expected to drive the growth of the stevia market.
The beverages segment is projected to dominate the sugar substitutes market during the forecasted period 2024-2029.
The beverages segment leads the sugar substitutes market in terms of application, driven by growing consumer demand for low-calorie and health-conscious drink options. In August 2022, Kraft Heinz (US) reformulated its Capri Sun juice drinks, cutting sugar content by 40% with the use of monk fruit. This move directly responds to the increasing preference for healthier choices, particularly for children, while also ensuring compliance with FDA regulations on added sugars. The shift toward natural sweeteners continues to gain traction; however, the high cost of monk fruit remains a barrier to widespread adoption. Additionally, major industry players are collaborating with beverage manufacturers to expand the use of sugar substitutes. For example, in January 2024, Ingredion (US) partnered with Better Juice to advance sugar reduction initiatives, promoting low or no-sugar beverage options.
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The Asia Pacific region is anticipated to experience rapid growth between 2024 and 2029.
The Asia Pacific region is poised for significant growth in the sugar substitutes market, driven by rising diabetes prevalence and increased investments in sugar substitute production. According to the International Diabetes Federation (IDF) Diabetes Atlas, the Western Pacific had the highest number of global diabetes cases in 2021, with Southeast Asia alone reporting 90 million cases. This number is expected to surge to 113 million by 2030 and 151 million by 2045. These alarming projections highlight the growing need for healthier alternatives like sugar substitutes to aid diabetes management and promote healthier lifestyles.
Consumers in the region are becoming increasingly aware of the adverse effects of excessive sugar consumption, such as obesity and tooth decay, leading to a shift toward sugar substitutes. In response, the Chinese government has introduced the Healthy China 2030 action plan, which aims to cut national sugar consumption by at least 17% and limit individual intake to no more than 25g per day by 2030. This policy has encouraged manufacturers to invest heavily in the Chinese market, reinforcing the region's role as a key driver of the sugar substitutes industry's expansion.
Top 10 Companies in the Sugar Substitutes Market [https://www.marketsandmarkets.com/ResearchInsight/sugar-substitute-market.asp?utm_source=abnewswire.com&utm_medium=paidpr&utm_campaign=sugar-substitute-market-]
Cargill, Incorporated (US)
ADM (US)
International Flavors & Fragrances Inc (US)
Ingredion (US)
Tate & Lyle (UK)
Ajinomoto Co. Inc (Japan)
GLG Life Tech Corporation (Canada)
Celanese Corporation (US)
Roquette Freres (France)
PCIPL (India)
Recent Developments of Sugar Substitutes Industry [https://www.marketsandmarkets.com/Market-Reports/sugar-substitute-market-1134.html?utm_source=abnewswire.com&utm_medium=paidpr&utm_campaign=sugar-substitute-market-]
In January 2024, Ingredion (US) partnered with Better Juice (Israel), a startup focused on reducing sugar in juice-based beverages, to expand the rollout of its sugar-reducing technology in the US. Ingredion Ventures is leading the Series A funding round for Better Juice, but financial details were not disclosed. Better Juice's technology converts simple sugars in natural liquids into non-digestible compounds while preserving nutrients, reducing sugar content by 30-80%. This partnership aligns with Ingredion's strategy to grow its sugar reduction and alternatives platform.
In October 2023, Cargill, Incorporated (US) is poised for double-digit growth in 2023, focusing on its expansion in South India, investing USD 35 million in a Nellore manufacturing facility. Cargill, Incorporated (US) emphasizes on supply chain resilience and quality to navigate inflationary pressures and drive long-term sustainable growth in India's evolving food market.
In November 2023, Ingredion (US) is expanding its PureCircle stevia production facility in Malaysia to increase its bioconversion technology capacity. This expansion will boost the production of stevia ingredients like Reb M and other steviol glycosides. Earlier this year, Ingredion introduced PureCircle Clean Taste Solutions, a zero-calorie sweetener from the stevia plant designed for a clean taste profile.
Key Questions Addressed by the Sugar Substitutes Market Report [https://www.marketsandmarkets.com/Market-Reports/sugar-substitute-market-1134.html?utm_source=abnewswire.com&utm_medium=paidpr&utm_campaign=sugar-substitute-market-]:
What are sugar substitutes?
Why is the sugar substitutes market growing?
What industries use sugar substitutes?
Which regions are leading in the sugar substitutes market?
What is the expected growth rate of the sugar substitutes market?
Which sugar substitutes are in high demand?
How are technological advancements impacting the sugar substitutes market?
How are consumer preferences shaping the sugar substitute market?
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