Sugar Substitutes Market Analysis, Supply and Demand, Covered in the Latest Research 2021-2028
The sugar substitutes market size is expected to reach USD 23.93 Billion at a steady revenue CAGR of 4.7% in 2028, according to latest analysis by Emergen Research. Rising awareness among consumers regarding the adverse effects of sugar on health such as increased risk of diabetes and obesity is driving market revenue growth.
Rapid urbanization coupled with increasing spending power of consumers on processed food and beverages in developing countries is expected to propel growth of the market. Surge in investments in research and development to introduce novel products containing blends of sugar substitutes and prebiotics and probiotics are expected to present lucrative growth opportunities for emerging players in the industry.
The Sugar Substitutes market for the forecast period of 2021 – 2028 the study provides vital intelligence on the major opportunities, threats and challenges posed by the industry. Besides, a strong emphasis is laid on the weaknesses and strengths of some of the prominent players operating in the same market. Quantitative assessment of the recent momentum brought about by events such as collaborations, acquisition and mergers, product launches and technology innovation empower product owners, marketing professionals and business analysts make a profitable decision, reduce cost and increase their customer base.
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The strategic growth research technique adopted by the subject matter experts behind this study full weighs upon the product application, product types and important industry terminologies and definition to help business owners to build a robust business plan as well as a progressive map for their product and services. Moreover, the agile methods to assess various factors including demand and supply status, consumption volume, customer preference, spending capacity and import and export trends work as a boon to those diversifying in a new line of product. To triangulate the different aspects of data on the Sugar Substitutes market critical data are showcased intellectually through resources such as infographics, charts, and tables.
The report further explores the key business players along with their in-depth profiling, product catalog, and strategic business decisions. The key players studied in the report are Cargill, Incorporated, Tate & Lyle PLC, Archer Daniels Midland Company, PureCircle Limited, Ingredion Incorporated, Ajinomoto Co., Inc., E.I. Dupont De Nemours and Company, Roquette, JK Sucralose Inc., and The Nutra Sweet Company.
- Natural segment accounted for largest revenue share in 2020. Shift in consumer preferences from synthetic or artificial sugar substitutes towards natural and organic products is expected to drive growth of the segment. As per the sugar alliance organization, almost 20% of the U.S. citizens agreed that they prefer natural sugar substitute-based food or drink products.
- High intensity sweeteners are commonly used as sugar substitute as they are sweeter than sugar but contribute to few or no calories when mixed with food. These sugar substitutes are approved by FDA and are safe for consumption under certain conditions of use. Some of the commonly used high intensity sweeteners are sucralose, aspartame, and saccharine.
- Stevia segment accounted for largest revenue share in 2020 due to its zero calories and zero glycemic index characteristics. Stevia is about 100 to 300 times sweeter than table sugar but has no calories, carbohydrates, or artificial ingredient. Over the past five years, approximately 10,000 stevia-based beverages and food products have been introduced, out of which most of the launces included soft drink production.
Regional Bifurcation of the Sugar Substitutes Market Includes:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report aims to provide a complete analysis of the global Sugar Substitutes market with important details about the key market players from insightful primary and secondary research data. The report also aims to benefit the user by providing constructive data to gain insight into market growth, size, and investment approaches. Additionally, the report provides an extensive analysis of the Sugar Substitutes market, including key data, such as factors influencing the growth of the market, buyers and vendors, production and consumption, and revenue.
Key Features of the Sugar Substitutes Market Report:
- The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats
- The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares
- Evaluation of key current and emerging market trends and growth prospects
- It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth
- Brief overview of industry with regards to research and development, technological advancements, and product development
- In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario
Emergen Research has segmented the global sugar substitutes market on the basis of origin, type, composition, application, and region:
- Origin Outlook (Revenue, USD Billion; 2018-2028)
- Type Outlook (Revenue, USD Billion; 2018-2028)
- High-fructose syrups
- Low-intensity sweeteners
- High-intensity sweeteners
- Composition Outlook (Revenue, USD Billion; 2018-2028)
- Sugar Alcohols
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