According to MarketsandMarkets “Sugar Substitutes Market by Type (High Fructose Syrup, High-Intensity Sweetener, Low-Intensity Sweetener), Composition, Application (Beverages, Food Products, and Health & Personal Care Products), and Region – Global Forecast to 2025″, the global sugar substitutes market size is estimated to be valued at USD 16.5 billion in 2020 and projected to reach USD 20.6 billion by 2025, recording a CAGR of 4.5% during the forecast period. The global sugar substitute industry has witnessed growing trends in the past years. The growth of this industry is majorly driven by an increase in health consciousness among consumers to encourage the demand for healthier food choices, an increase in demand for natural sweeteners due to the rise in consumer inclination toward natural products, and growing demand for sugar substitutes in various applications in the food & beverage industry.
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By type, the high-intensity sweeteners segment is projected to experience the fastest growth in the sugar substitutes market during the forecast period
The high-intensity sweeteners segment is expected to experience the fastest growth in the global market, on the basis of type, in 2019. The high-intensity sweeteners approved by the FDA are safe for the general population under certain conditions of use. Aspartame, sucralose, and saccharine are the major segments of the total high-intensity sweeteners market. Aspartame is the most commonly used low-calorie artificial sweetener in the highintensity sweeteners market. It is an odorless, white powder and is nearly 200 times sweeter than regular sugar. It is used as a food additive in desserts, sweets, drinks, chewing gums, and weight control products.
By application, the beverage segment is projected to experience the fastest growth in the sugar substitutes market during the forecast period
The beverage segment accounted for a major share in the global market, in 2019, in terms of value. Sugar substitutes are currently preferred in beverages, such as diet carbonated drinks, flavored water, and other beverages. Stevia is a key sugar substitute used in beverages. It is a preferred sugar substitute with reduced-calorie and zero glycemic indexes, which is used to produce numerous versions of energy drinks, soft drinks, ready-to-drink teas, flavored water, and fruit juices. Other sugar substitutes, such as erythritol and xylitol, are also preferred among key players in the beverage industry. High-intensity sugar substitutes witness an increase in preference for the production of beverages. As a low volume of HIS is enough for imparting the required degree of sweetness to products, it remains a more economical option for the beverage industry. Thus, the expansion of the consumer base for beverage products provides an incentive for developing new sugar substitutes and products, thereby driving the market growth during the forecast period.
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The North American region is projected to hold the largest market share during the forecast period
The North America region is projected to dominate the sugar substitutes market during the forecast period. The North American region is projected to dominate the global sugar substitutes market due to a variety of key factors, such as the busy lifestyle of consumers, increase in the prevalence of chronic diseases due to hectic lifestyles, and rise in awareness among consumers regarding the health benefits of reduced sugar in food and beverage products. The US has a large market for confectionery, bakery, packaged, and food convenience food products, due to which it constitutes a major share in the market. Consumers in the US are becoming calorie-conscious, attributed to the increase in health problems in the country. Due to these factors, low-calorie and low-fat food products are becoming popular in the country. The increase in incidences of obesity and cardiac diseases has led to a surge in demand for natural and low-calorie ingredient-based food products among consumers.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as DuPont (US), ADM (US), Tate & Lyle (UK), Ingredion Incorporated (US), Cargill Incorporated (US), Roquette Frères (France), PureCircle Ltd (US), MacAndrews & Forbes Holdings Inc. (US), JK Sucralose Inc. (China), and Ajinomoto Co. Inc. (Japan).
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