Global Sugar Substitutes Market - Growth, Trends, and Forecast (2018 - 2023)
The sugar substitute market is expecting a growing demand, driven by the rising sales of different sugar substitutes, including artificial sweeteners and natural sweeteners. Food manufacturers choose among the available sugar substitutes based on taste considerations, stability, and cost. In some instances, blends of sugar substitutes are used. Regulators in both, the United States and Europe, have approved the use of stevia sweetener. As a result, demand for the stevia leaf is skyrocketing. Sugar substitute imports into markets such as Indonesia and India are still considered low in volume due to the lack of health motivation.
Despite the high CAGR in developing countries, the market has yet to reach full potential. When it does, there will be a further surge in market growth.
Weight-related problems and diabetes are the primary drivers for the global non-sugar sweetener market. Consumers choose various sugar substitutes, thus fueling the global sugar substitutes market. Consumers have become more health-conscious and pay attention to food labels to check the calorie content of the product. Therefore, food processing companies are adding low-calorie and sugar-free alternatives to their product lines.
The sugar substitutes market is segmented by type into HIS (high intensity sweeteners), LIS (low intensity sweeteners), and HFCS. The HIS segment is gaining more popularity than the artificial sweeteners segment, as it has no side-effects, however, decreased availability and development of more health-conscious artificial sweeteners have shifted preferences of consumers towards artificial sweeteners.
The global sugar substitutes market is classified, based on application, into the food & beverage sector. HFCS and HIS is used widely in the food & beverage industry as a sugar substitute in products including bakery products, cereals, syrups, fruit-based products, and ready-to-drink beverages, thus providing a great opportunity for the market for sugar substitutes. Moreover, the development for low-sugar foods for diabetic and diet-conscious clients, coupled with growing diet liquids demand, is projected to increase demand during 2018-2023. Products with special sweeteners have low energy content, are used to control weight, and are prescribed by doctors for diabetics as they do not affect blood sugar level.
North America dominated the sweetener market in 2017 with a share of 35%. The growth in demand for sugar substitutes in industrial and non-industrial applications and changing consumer preferences have accelerated market growth in the region. North America is also a leading producer and consumer in the sweetener market, due to the growing demand for convenience food, functional food, and alternative sugar sources.
Key Developments in the Market
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