Sugar Substitutes Market Opportunities, Future Trends, Business Demand and Growth Forecast 2028
According to the most recent report by Emergen Research, the global market for sugar substitutes is anticipated to reach USD 23.93 billion in 2028, growing at a consistent revenue CAGR of 4.7%. Market revenue growth is being driven by consumers’ growing awareness of the harmful consequences of sugar on health, such as the increased risk of diabetes and obesity. Rapid urbanisation and rising consumer purchasing power on processed foods and drinks in developing nations are anticipated to drive market expansion.
Increased spending on R&D to bring new products to market that combine sugar replacements with prebiotics and probiotics is anticipated to offer lucrative growth prospects for new companies in the market. All types of sweeteners are under examination from health professionals, consumer advocacy groups, and policymakers as a result of the global obesity pandemic. Companies are being forced to reconsider their ingredient choices and marketing strategies as a result. Even while consumers are watching their sugar intake, they are not prepared to give up flavour in favour of calorie reduction, especially when it comes to bread, beverage, and confectionery products.
Even in little amounts, sugar substitutes can produce the desired sweetness. They are zero-calorie or low-calorie sweeteners because they have fewer calories than sugar-based sweeteners. Due to the link between uneven calorie consumption and obesity, diabetes, and metabolic syndrome, these conditions have emerged as serious public health issues. Sugar substitutes are essential in lowering calories as part of a general balanced diet and exercise routine in order to combat the aforementioned illnesses.
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Some Key Highlights from the Report
In 2020, the natural segment accounted for the biggest revenue share. The segment is anticipated to develop as customer preferences shift away from artificial or synthetic sugar alternatives and toward natural and organic goods. Nearly 20% of Americans, according to the sugar alliance organisation, concur that they prefer food and beverage goods made with natural sugar substitutes.
Since high intensity sweeteners are sweeter than sugar yet add fewer or no calories to meals when combined, they are frequently used as a sugar substitute. Under certain usage guidelines, these FDA-approved sugar replacements are safe to consume. Sucralose, aspartame, and saccharine are a few of the high intensity sweeteners that are frequently utilised.
Due to its low calorie and zero glycemic index properties, the stevia segment accounted for the greatest revenue share in 2020. Stevia is between 100 and 300 times sweeter than table sugar yet containing no artificial ingredients, calories, or carbs. A total of 10,000 stevia-based drinks and food items have been released in the past five years; the majority of these launches comprised soft drink manufacturing.
Cargill, Incorporated, Tate & Lyle PLC, Archer Daniels Midland Company, PureCircle Limited, Ingredion, Ajinomoto Co., Inc., E.I. Dupont De Nemours and Company, Roquette, JK Sucralose Inc., and The Nutra Sweet Company are just a few of the companies mentioned in the market analysis.
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