Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Global Sugar Substitutes Market Size, Share & Trends Analysis, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
This study on the Global Sugar Substitutes Market delivers an in-depth analysis of key trends and market dynamics from 2023 to 2030. The report delves into the market's projected reach of $25.9 billion by 2030, flourishing at a robust CAGR of 5.8% over the forecast period.
The surge in market size is attributed to the increased consumption of 1,126.0 Kilo Tonnes by 2022, marking a 6.3% growth rate from 2019 to 2022. This growth is notably driven by the escalating demand for sugar-reduction solutions across diverse applications such as beverages, food, and health & personal care.
The dairy industry is significantly contributing to the market's expansion with the advent of sugar-free dairy products, adjusting to consumer needs for managing diabetes and blood sugar levels. In 2022, the dairy segment reached a notable valuation of $1,337.9 million.
Application Analysis Highlights
Within the market segmentation, the food application segment exemplifies substantial revenue presence, led by manufacturers' initiatives to revamp product formulations with healthier, low-sugar alternatives. This shift is in tune with the consumer preference toward sugar-free and low-calorie diets.
Bakery and confectionery sub-segments are responding to wellness trends by incorporating sugar substitutes, which led to the highest revenue share in the food category for this segment.
Type Analysis Forecasts
Diving deeper into types, low-intensity sweeteners are garnering attention for their role in managing weight and calorie intake, thus securing substantial revenue within the market. Their popularity in low-calorie beverages and diet sodas signifies a strong demand curve in this sector.
Regional Analysis Insights
The North American market is in the spotlight due to its significant revenue contribution stemming from an elevated consumer focus on weight management and healthy living choices. The region's consumers display a growing inclination towards low-calorie and sugar-reduced product options.
Competitive Landscape and Strategic Developments
The report identifies key industry players leading the charge in innovation and strategic partnerships, bolstering their positions and product portfolios within the sugar substitutes market.
- Noteworthy collaborations and product launches that align with the current health trend
- Significant acquisitions that enhance product ranges and global supply chains
- Agreements aiming to bolster the availability of zero-calorie, nature-based sweeteners
Companies Mentioned
- Tate & Lyle PLC
- Cargill, Incorporated
- Archer Daniels Midland Company
- Ingredion Incorporated
- Roquette Freres SA
- Ajinomoto Co. Inc.
- DuPont de Nemours, Inc.
- Pyure Brands, LLC
- Foodchem International Corporation
- Matsutani Chemical Industry Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/dtc6il
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