Pune India, May 24, 2022 (GLOBE NEWSWIRE) -- The global sugar substitutes market size is projected to hit USD 10.27 billion by 2026, exhibiting a CAGR of 6.3% during the forecast period. Excessive sugar consumption across the globe is one of the primary growth drivers of this market. According to the International Sugar Organization (ISO), world sugar consumption grew at an average of 2.01% annually from 2001 to 2018. In 2018, the ISO notes, global production of sugar exceeded its global consumption by 6.171 million tons. High sugar consumption has caused proliferation of lifestyle-induced disorders such as obesity and diabetes. Acknowledging this, the World Health Organization (WHO) has recommended reduction in the consumption of added sugars from 10% to 5% as a portion of energy intake in daily diet. The sugar replacement market stands to gain from this as the demand for sugar substitutes is poised to climb at a robust rate in the coming decade.
The above information is provided in a new Fortune Business Insights™ report, titled “Sugar Substitutes Market Size, Share and Industry Analysis By Product Type (Low-Intensity Sweeteners, High-Intensity Sweeteners, High Fructose Corn Syrup), End Use (Food & Beverage Manufacturers, Pharmaceuticals, Cosmetics & Personal Care), and Regional Forecast 2019-2026”, which states that the value of the market stood at USD 6.35 billion in 2018. The report shares a detailed research and a microscopic analysis of all the factors, drivers, possible trends, future prospects, and other dynamics that are likely to influence the market in the forecast period. Besides this, the report also highlights a general industry overview that will shape the overall growth of this market.
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Prominent Players Profiled in the Sugar Substitute Market Report by Fortune Business Insights™ Include:
- DowDuPont
- The NutraSweet Company
- JK Sucralose Inc.
- Pure Circle Limited
- Archer Daniels Midland Company
- Roquette Frères
- Ajinomoto Co., Inc.
- Cargill, Incorporated
- Ingredion Incorporated
Report Scope & Segmentation:
| Report Attribute | Details |
| Market size value in 2019 | USD 6.35 Billion |
| Revenue forecast in 2026 | USD 10.27 Billion |
| Growth Rate | CAGR of almost 6.3% 2019-2026 |
| Base Year | 2018 |
| Historic Years | 2015 - 2017 |
| Forecast Years | 2019 - 2026 |
| Segments Covered | By Type, By Application, By Geography |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | DowDuPont , The NutraSweet Company , JK Sucralose Inc. , Pure Circle Limited , Archer Daniels Midland Company , Roquette Frères , Ajinomoto Co., Inc. , Cargill, Incorporated , Ingredion Incorporated , Tate & Lyle & other. |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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Growing Popularity of Natural Sweeteners to Open New Avenues for the Market
While artificial sweeteners are predominantly used in majority of food and beverage items all over the world, natural sweeteners are slowly gaining traction among consumers owing to their excellent health benefits. Their inherent property of sweetening a food or beverage without adding calories to the body will be one of the leading sugar substitutes market trends in the near future. For example, honey, the world’s most ancient natural sweetener, contains a high amount of antioxidants, is known to prevent cancer, and has probiotic characteristics which aid digestion. Similarly, Stevia, a plant-derived sweetener from South America, is famous for being 250 times sweeter than table sugar. However, despite its sweetness, stevia does not increase blood sugar levels and in fact helps lower blood pressure and catalyse calcium production in the body.
Strict Implementation of Sugar Taxes to Propel the Market in North America and Europe
With a revenue generation of USD 2.39 billion in 2018, North America, followed by Europe, is poised to dominate the sugar substitutes market share in the forthcoming years. The main reason for this dominance will be the introduction of sugar taxes in North America and Western Europe in 2018 which has spurred development of novel sugar-free products across these regions. The regional markets in Asia-Pacific and the Middle East & Africa are also expected to grow at a considerable rate during the forecast period.
Regulatory Support to Innovative Products to Fire up Competitive Spirits
Active regulatory clearances to novel creations will bode well for the sugar replacement market as such moves are likely to encourage companies to innovate. These innovations will aid players to not just widen their product portfolio, but also strengthen their position in the market.
Key Industry Developments:
April 2019: The US FDA issued draft guidance to Ingredion Incorporated’s ASTRAEA Allulose that offers the same taste as regular sugar and is 70% similar to sucrose in terms of functionality, but without calories and sugar.
February 2019: Tata Chemicals introduced its zero sugar, 100% natural sweetener called Tata Nx. The product is derived from stevia and uses lactose as a bulking agent.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/sugar-substitutes-market-100261
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the parent/Related Markets
- sugar consumption Trend
- Supply Chain Analysis
- Recent Industry Developments- Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Overview of the parent/Related Markets
- Global Sugar Substitutes Market Analysis, Insights andForecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Aspartame
- Acesulfame Potassium (Ace.K)
- Saccharine
- Sucralose
- Stevia
- Sugar Alcohols
- Others
TOC Continued…!
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