New Jersey, NJ, July 15, 2019 (GLOBE NEWSWIRE) -- Fior Markets launched a study titled, "Sugar Substitutes Market by Type (High-Intensity Sweeteners, Low-Intensity Sweeteners, High Fructose Corn Syrup), Nature, Application Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2019 to 2026". As per the report, the global sugar substitutes market is expected to grow from USD 15.89 Billion in 2018 to USD 24.82 Billion by 2026 at a CAGR of 5.7% during the forecast period 2019-2026.
Sugar is defined as a carbohydrate which is known for its sweet taste and is derived from various sources such as sugarcane. Monosaccharide (simple sugar), galactose, and fructose are some commonly used of sugar. The sugar consumed by humans is known as sucrose, which – when consumed – will hydrolyse into glucose and fructose. Sugar is mainly used in bakery products, commercial beverages and as a sweetener. Sugar substitutes are also known as high- intensity sweeteners or non- nutritive sweeteners. These are the alternates for the sugar and taste like sugar, but does not have calories or carbohydrates.
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Global Sugar Substitutes Market Key Findings:
- Growing demand for zero-calorie or low-calorie products is one of the driving force. Also, mounting demand for sugar substitute products from the food and beverage industry is another factor fuelling the growth of the market. But lack of consumer awareness regarding sugar substitutes is restricting the growth of the sugar substitutes market.
- However, rising incidences of diabetes and weight-related issues are among the key factors which are projected to spur the demand in forthcoming years.
- The type segment is classified as high-intensity sweeteners, low-intensity sweeteners, and high fructose corn syrup. High-intensity sweeteners segment is dominating the market with the highest share in 2018. Due to the changing health and wellness trends, there is a subsequent rise in demand for high-intensity sweeteners, leading to the growth of the market. The high-intensity sweeteners has low-calories and are widely consumed by the diabetic and diet-conscious peoples. In addition, these sweeteners enhances the flavourings of foods and beverages and are frequently used as replacements to sucrose and is sweeter than regular sugar.
- The nature segment is divided into segments such as organic and conventional. The conventional segment has dominated the market in 2018. The conventional nature sugar substitutes are preferred as they are widely used in the preparation of processed foods like baked goods, canned food items, jams, jellies, puddings, and candies. Conventional sugars are made naturally and may contain chemicals in any of the different stages of the process. These type of sugar comprises nearly 100% of sucrose with no other nutrients. Hence, many of the consumers are diverting towards the organic sugar substitutes. This has increased the demand organic sugar substitutes is increasing due to growing awareness related to health benefits. Thus, organic segment is anticipated to grow with highest CAGR of 6.1% during the forecast period.
- The global sugar substitutes market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America is dominating the market with the highest share of 41.30% in 2018
- North America is dominating the market owing to hectic lifestyles and high expendable incomes which have intensified the obesity rates in the region. Also, growing awareness of the benefits of sugar substitutes has further contributed to the growth of the global sugar substitutes market.
- Asia Pacific region is anticipated to be the second fastest growing region due to the rising disposable income of developing countries such as India, increasing health issues related to sugar consumption, and presence of emerging economies providing profit margins to key market participants.
- For instance, in 2018, Zerovia launched natural sugar substitute in India market. This product has zero calorie natural sugar substitutes made from the extracts of stevia. This product is widely used by people with diabetes as well as for conscious weight-watchers.
- For instance, in 2017, Zydus Wellness launched is new sugar substitute product named as Sugar Free Green. This product is developed using the stevia leaves and is available in two variants such as powders and pellets.
- For instance, in 2017, GLG Life Tech Corp collaborated with Archer Daniels Midland Co. and launched a new product named Reb M sweetener, made using stevia.
- Leading companies in the industry include Cargill Incorporated, Tate & Lyle, Archer Daniels Midland Company, E. I. DuPont De Nemours, Ingredion Incorporated, Ajinomoto Co. Inc., Roquette, The Nutra Sweet Company, PureCircle, JK Sucralose Inc. and among others
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All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment.
This study forecasts revenue growth and volume at global, regional, and country levels from 2016 to 2026. Fior Markets has segmented the global sugar substitutes market on the basis of below mentioned segments:
Global Sugar Substitutes Market, By Type:
- High Intensity Sweeteners
- Low Intensity Sweeteners
- High Fructose Corn Syrup
Global Sugar Substitutes Market, By Nature:
- Organic
- Conventional
Global Sugar Substitutes Market, By Application:
- Food and Beverage
- Cosmetics and Personal Care
- Pharmaceuticals
Global Sugar Substitutes Market, By Regions:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia-Pacific
- Japan
- China
- India
- South America
- Brazil
- Middle East and Africa
- UAE
- South Africa
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