Global Sugar Substitutes Market: Snapshot
Sugar unarguably has been a commodity of vast commercial scope around the world. The mounting concerns of obesity and a host of other serious health problems caused by sugar consumption have led people to look for alternatives. With changing taste and preferences of consumers, especially them becoming more health conscious, a wide array of sugar substitutes have risen in popularity. The artificial sweeteners industry for one has been at the forefront of reaping large revenue gains by investing in sugar substitutes market. They can be sourced from plants or are manufactured synthetically. Advances in processing technologies have helped expand the raw materials for making sugar substitutes and to produce these at scale.
Growing inclination to migrate to diets with less calorific contents has been a key enabler as well accelerator of product developments in the sugar substitutes market. Food companies have also been finding attractive revenue potential on sugar substitutes. Several brands containing sugar substitutes are garnering attention by and acceptance of populations in developed economies. A case in point is stevia-based functional food products. This is one of the significant trends behind the growth of the sugar substitutes market. A class of artificial sweeteners are gathering steam due to them considered as ‘generally recognized as safe’. The scientific backing is thus propelling their demands in various parts of the world, increasingly in developing countries. The growing role of these in nutritional interventions to manage the risk of type 2 diabetes and heart diseases has been augmenting the market potential. Moreover, several functional sweeteners by food companies are growing in uptake, as they promise consumers these sugar substitutes to have beneficial impact on preventing dental caries. Growing number of products that are approved by FDA is helping expand the lucrative avenues in the sugar substitutes market.
Global Sugar Substitutes Market: Overview
The global sugar substitutes market is likely to witness healthy growth during the course of forecast from 2018 till 2026. Increasing demand from the food and beverages industry is propelling demand for the sugar substitute market and the market is likely to gain traction in the coming years. Increasing consumer health awareness among the population is likely to support growth of this market in the year to come. In addition, growing prevalence of diabetes and rising concern about the high consumption of sugar is further bolstering growth of this market too.
On the basis of product type, the high intensity sweeter market is anticipated to gain prominence in the global sugar substitute market. This marketplace is likely to hold 43.5% of the total markt value over the forecast period.
The report provides brief analysis about the global sugar substitute market couple with this the segmental and regional analysis of this market is also included in this report. The report also provide close look at the technologies supporting growth of this market and it also offers driving and restraining factor majorly impacting overall growth of this market.
Global Sugar Substitutes Market: Trends and Opportunities
The fluctuating cost of the sugar substitute is providing key opportunities for the manufacturers operating in the global sugar substitute market. The increasing awareness among the population regarding the proper food consumption among the diabetics and obese population is likely to propel growth of the sugar substitute market in the near future. Furthermore, the consumer are more aware about the excessive sugar consumption impact, hence they are looking out for the product with less sugar or alternative substitute with almost no sugar in it. This is further fueling growth of the global sugar substitutes market in the next coming years.
Global Sugar Substitutes Market: Regional Outlook
From a geographical point of view, North America is likely to dominate the global sugar substitute market due to growing demand for sweetener in the North America region. The rising demand for sugar substitute in industrial and non-industrial usage and transforming consumer’s preference is further fueling demand for the sugar substitute market in the foreseeable future. Moreover, North America is one of the leading manufacturer of sweetener market due to increasing demand for convenience food, alternative sugar source and functional food. This is further stipulating growth of this market in this region in the upcoming years.
Global Sugar Substitutes Market: Companies Mentioned
This section of the report provides insight about the key players operating in this market in the coming years. Some of the players operating in the sugar substitute market are The Nutra Sweet Company, Ajinomoto Co., Inc., Ingredion Incorporated, Roquette, Tate & Lyle, and Pure Circle Limited. The manufacturers are largely focused toward the developing new product in order to boost growth in this market. For instance, PepsiCo is including aspartame back to its flagship Diet Pepsi product. This is further supplementing market growth in this region in the foreseeable future.
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