Global Sugar Substitutes Market 2017-2021
About Sugar Substitutes
Sugar substitutes are sweet food additives that taste like sugar. They are characterized by significantly lower calories than sugar. Sugar substitutes are incorporated in beverages, confectionary, baked products, dairy products, frozen food, and health and personal care products. The global sugar substitutes market is growing at a moderate rate and is expected to continue the same degree of growth during the forecast period. Increasing demand for healthy and low-calorie food products contributes to the growth of the market.
Technavio’s analysts forecast the global sugar substitutes market to grow at a CAGR of 4.91% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global sugar substitutes market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Sugar Substitutes Market 2017-2021
Technavio recognizes the following companies as the key players in the global sugar substitutes market: Archer Daniels Midland, Cargill, Ingredion, Merisant, PureCircle, and Tate & Lyle.
Other Prominent Vendors in the market are: American Crystal Sugar Company, Cumberland Packing, DOMINO FOODS, GLG LEADING LIFE TECHNOLOGIES, Imperial Sugar, Janus Life Sciences, JK Sucralose, NOW Foods, NutraSweet, Pyure Brands, Roquette, Stevi0cal, Sunwin Stevia International, Sweet Green Fields, SweetLeaf Stevia, Sweetlife Australia, and Xinghua Green Biological Preparation.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is new product launches. New product development, improved taste, versatility, and high levels of marketing support are likely to increase the demand for sugar substitutes in the market. Cargill announced the launch of Evolva’s EverSweet (in 2016).”
According to the report, one driver in the market is growing demand for natural high-intensity sweeteners. The global natural high-intensity sweeteners market is growing at a fast rate. The market is expected to continue its growth during the forecast period. Natural high-intensity sweeteners like stevia are largely popular across the globe. One of the major reasons for the high demand for stevia is the use of the sweetener in combination with sucrose. Stevia is used in products that are characterized by limited-sugar content. Thus, the use of stevia does not eliminate the use of sugar. Erythritol is one of the most commonly used ingredients with stevia, which gained the EU approval for use in beverages in late 2015.
Further, the report states that one challenge in the market is stringent food safety regulations. Vendors ought to receive approvals from various authorities (such as the Foods Standards Agency and the European Food Safety Authority) prior to new product launches. Food and beverages that are incorporated with artificial sweeteners must adhere to the guidelines laid out by the regulatory bodies regarding the number of sweeteners used, marketing, labeling, and the average daily intake of sweeteners. Monk fruit, which is a zero-calorie sweetener, is still not approved in Europe. Within the past few years, many high-fructose corn syrups have been banned. In 2017, the Government of Sipalay banned the entry of products containing HFCS.
Archer Daniels Midland, Cargill, Ingredion, Merisant, PureCircle, Tate & Lyle, American Crystal Sugar Company, Cumberland Packing, DOMINO FOODS, GLG LEADING LIFE TECHNOLOGIES, Imperial Sugar, Janus Life Sciences, JK Sucralose, NOW Foods, NutraSweet, Pyure Brands, Roquette, Stevi0cal, Sunwin Stevia International, Sweet Green Fields, SweetLeaf Stevia, Sweetlife Australia, and Xinghua Green Biological Preparation.
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