Sugar Substitutes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
The global sugar substitutes market reached a value of US$ 14.4 Billion in 2017. The market value is further expected to reach US$ 18.3 Billion by 2023, exhibiting a CAGR of 4.1% during 2017-2023. Sugar substitutes refer to food additives which are used to sweeten or enhance the flavour of food without adding sugar. They are also known as non-caloric or artificial sweeteners. Stevia, saccharin, sucralose, acesulfame, aspartame, and neotame are some the popular sugar substitutes. They are used in light, reduced calorie, and sugar-free foods and drinks, such as canned foods, baked goods, candies, soft drinks, dairy products, powdered drink mixes, puddings and jellies. Nowadays, food and beverage manufacturers are increasingly replacing sugar with sugar substitutes in a range of products as consumer preferences shift towards healthier foods.
Global Sugar Substitutes Market: Drivers
In light of the global prevalence of obesity and overweight, and its negative impact on health, there has been a growing trend of health and fitness consciousness among consumers who are looking for ways to reduce their sugar intake and avoid the negative health effects of excess weight gain.
The prevalence of diabetes has been increasing across the globe with around 425 Million adults currently suffering from the disease. By limiting their sugar intake with sugar substitutes, diabetes patients can enjoy a varied diet while closely controlling their sugar levels.
Sugar substitutes also prevent tooth decay. The bacterium that is present in dental plaque metabolizes sugar and releases acid that can damage the teeth enamel. Sugar substitutes such as stevia, on the other hand, provide active dental benefits and hinder the formation of plaque.
Some of the other factors bolstering the market growth include rising consumer incomes, new product launches and regulatory trends such as introducing sugar taxes, etc.
Based on the product type, the market has been segmented as high-intensity sweeteners, low-intensity sweeteners and high-fructose corn syrup. Currently, high-intensity sweeteners dominate the market, accounting for the largest share.
Based on application, the market has been segmented as foods, beverages, and health and personal care.
Based on origin, the market has been segmented as artificial and natural products.
Region-wise, North America leads the global sugar substitutes market, holding the majority of the total share. It is followed by Europe and Asia Pacific. Other major regions include the Middle East and Africa, and Latin America.
The competitive landscape of the market has also been examined with some of the key players being Tate & Lyle, Cargill, Purecircle, Roquette Frères, DuPont, Archer Daniels Midland Company, Ajinomoto Co. Inc., Ingredion, Flavors Holding and Jk Sucralose.
This report provides a deep insight into the global sugar substitutes market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the sugar substitutes market in any manner.
Key Questions Answered in This Report:
How has the global sugar substitutes market performed so far and how will it perform in the coming years?
What are the key regional markets in the global sugar substitutes industry?
What are the key product types in the global sugar substitutes industry?
What are the major application segments in the global sugar substitutes industry?
What is the share of natural and artificial products?
What are the price trends of sugar substitutes?
What are the various stages in the value chain of the global sugar substitutes market?
What are the key driving factors and challenges in the global sugar substitutes market?
What is the structure of the global sugar substitutes market and who are the key players?
What is the degree of competition in the global sugar substitutes market?
How are sugar substitutes manufactured?