Sugar Substitute Market Analysis by Size, Business Strategies, Competitive Landscape, Developments Forecast by 2028
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Increasing preference among consumers towards low-calorie beverages and food products is driving revene growth of the market
VANCOUVER, BC, CANADA, June 7, 2022 /EINPresswire.com/ -- The global sugar substitutes market size is expected to reach USD 23.93 Billion at a steady revenue CAGR of 4.7% in 2028, according to latest analysis by Emergen Research. Rising awareness among consumers regarding the adverse effects of sugar on health such as increased risk of diabetes and obesity is driving market revenue growth.
Rapid urbanization coupled with increasing spending power of consumers on processed food and beverages in developing countries is expected to propel growth of the market. Surge in investments in research and development to introduce novel products containing blends of sugar substitutes and prebiotics and probiotics are expected to present lucrative growth opportunities for emerging players in the industry. Due to global obesity epidemic, all form of sweeteners is under scrutiny from health professionals, consumer advocacy groups, and lawmakers. This is prompting companies to rethink selection of ingredients and marketing messages.
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Competitive Outlook:
The global Sugar Substitutes market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Sugar Substitutes market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Key players involved in the market such as Cargill, Incorporated, Tate & Lyle PLC, Archer Daniels Midland Company, PureCircle Limited, Ingredion Incorporated, Ajinomoto Co., Inc., E.I. Dupont De Nemours and Company, Roquette, JK Sucralose Inc., and The Nutra Sweet Company.
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Key Highlights from the Report
Natural segment accounted for largest revenue share in 2020. Shift in consumer preferences from synthetic or artificial sugar substitutes towards natural and organic products is expected to drive growth of the segment. As per the sugar alliance organization, almost 20% of the U.S. citizens agreed that they prefer natural sugar substitute-based food or drink products.
High intensity sweeteners are commonly used as sugar substitute as they are sweeter than sugar but contribute to few or no calories when mixed with food. These sugar substitutes are approved by FDA and are safe for consumption under certain conditions of use. Some of the commonly used high intensity sweeteners are sucralose, aspartame, and saccharine.
Stevia segment accounted for largest revenue share in 2020 due to its zero calories and zero glycemic index characteristics. Stevia is about 100 to 300 times sweeter than table sugar but has no calories, carbohydrates, or artificial ingredient.
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The global Sugar Substitutes market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Sugar Substitutes market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Sugar Substitutes market.
Emergen Research has segmented the global sugar substitutes market on the basis of origin, type, composition, application, and region:
Origin Outlook (Revenue, USD Billion; 2018-2028)
Artificial/Synthetic
Natural
Type Outlook (Revenue, USD Billion; 2018-2028)
High-fructose syrups
Low-intensity sweeteners
High-intensity sweeteners
Composition Outlook (Revenue, USD Billion; 2018-2028)
Sugar Alcohols
Stevia
Saccharine
Sucralose
Cyclamate
Aspartame
Others
Application Outlook (Revenue, USD Billion; 2018-2028)
Beverage
Food
Pharmaceuticals
Personal Care
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Regional Outlook of Sugar Substitutes Market:
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Rest of MEA
Table of Contents:
Chapter 1 includes an introduction of the global Sugar Substitutes market, along with a comprehensive market overview, market scope, product offerings, and an investigation of the market drivers, growth opportunities, risks, restraints, and other vital factors.
Chapter 2 offers an in-depth analysis of the key manufacturers engaged in this business vertical, along with their sales and revenue estimations.
Chapter 3 elaborates on the highly competitive terrain of the market, highlighting the key manufacturers and vendors.
In Chapter 4, our team has fragmented the market on the basis of regions, underscoring the sales, revenue, and market share of each region over the forecast timeline.
Chapters 5 and 6 have laid emphasis on the market segmentation based on product type and application.
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Sugar Substitute Market Growth, Share, Trends, High Demand, Forecast 2028
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