Global Sugar Substitute Market - Growth, Trend and Forecasts (2018 - 2023)
The global sugar substitutes market is expected to grow at a CAGR of 4.5%, during 2017-2022 (the forecast period). The changing lifestyles of people is the main factor accelerating the sugar substitutes market. Over the years, consumers have become more health-conscious and prefer low-calorie products. This changing trend, coupled with the increasing disposable income in developing economies, is expected to boost the market for sugar substitutes.
Increase in diabetic patients is expected to boost the market for healthy sugar substitutes
The number of diabetic patients has increased tremendously, over the years. The number of adults with diabetes has doubled, since1980. The United States has a large number of diabetic patients and over the years this number have been increasing, tremendously.
Number and Percentage of US Population with Diagnosed Diabetes
Number (in million)
The prevalence of diabetics has increased the need for food products that use sugar substitutes. Manufactures, therefore, are producing a large number of products targeted at diabetics. The factors restraining the market growth are the stringent quality criteria and the need to comply with international quality standards and regulations.
Segmentation Analysis, by Type of Sugar Substitute
The growth of sugar substitutes, such as Stevia, Aspartame, Cyclamate, D-Tagatose, Sorbitol, and Maltitol, is expected to be high in developing countries, owing to the presence of emerging economies, rise in health problems related to sugar consumption, and the growing awareness and preference for low-caloric food and beverages. On the basis of type, the market is segmented into high-intensity sweeteners, low-intensity sweeteners, and high fructose syrup.
North America accounted for the largest market share of 36% for sugar substitutes, in 2016, followed by Europe. The significant share is attributed to the growing number of diabetics and increasing obesity among population. The United States has the largest market share of 65%, however Mexico and Canada are expected to witness a healthy growth rate during the forecast period. Asia-Pacific is anticipated to register a CAGR of over 6.0%, during 2017-2022. The increasing disposable income, coupled with the rise in the number of health-conscious consumers, is expected to boost the region’s demand for sugar substitutes.
Some of the leading manufacturers and suppliers of sugar substitutes include:
Tate & Lyle
Archer Daniels Midland
Roquette, Ajinomoto Co. Inc.
JK Sucralose Inc.
Pure Circle Limited
The Nutra Sweet Company
These companies focus on capacity expansion, owing to the increasing demand for healthier sugar substitutes.
Our Global Sugar Substitutes Market Report Covers:
Market Trends & Dynamics
Latest News & Developments
Porter’s Five Forces Analysis
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