Market Overview:
The global sugarsubstitutes market size was valued at USD 8.36 billion in 2023 and isprojected to grow from USD 8.89 billion in 2024 to USD 16.31 billion by 2032,
exhibiting a CAGR of 7.88% during the forecast period.
This information is provided by Fortune BusinessInsights, in its report titled, “Sugar Substitutes Market, 2024-2032.”
List of Key Players Mentioned in the Report:
- Cargill Incorporated (U.S.)
- Tale & Lyle (U.K.)
- ADM (U.S.)
- Ingredion Incorporated (U.S.)
- Roquette Freres (France)
- Real Stevia Company (Sweden)
- Pyure Brands LLC (U.S.)
- JK Sucralose Inc. (China)
- DuPont (U.S.)
- Ajinomoto Co. Inc.(Japan)
Segments:
Expansive Application in Food & Beverage to EncourageGrowth of the Saccharin Segment
On the basis of type, the market is segmented intoaspartame, ace. k, saccharin, sucralose, stevia, sugar alcohols, and others.
The utilization of saccharin is particularly noteworthy for people whose diets
necessitate calorie or carbohydrate constraint to people with obesity and
diabetes.
Food & Beverage Segment to Grow Rapidly Owing toConsumer Inclinations for Low-Calorie Choices
Sugar substitutes are presently utilized in beverages suchas carbonated diet drinks, flavored waters, and other beverages. Major players
in the beverage industry favor ingredients such as saccharin and sucralose.
Expanding consumer base for beverages provides incentives for developing new
sugar alternatives and products, thereby driving the food & beverage
segment growth.
Geographically, the market is segregated into North America,Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report offers valuable insights obtained by thoroughstudy done by our researchers. An extensive research was conducted to provide
the estimated size of the market. The data used to project the shares for
multiple segments at the country, regional, and global levels is obtained from
in-depth interviews with numerous stakeholders. Furthermore, we have gained
access to several global and regional paid databases to deliver precise
information to make business investment decisions easy.
Drivers and Restraints:
Adverse Health Effects Owing to Over Usage of SugarDrives Market Growth
Speedy industrialization throughout the globe has resultedin an upsurge in urbanization in recent years. People are living a more
deskbound lifestyle with increased amount of time expended in the office and
absence of exercise. Therefore, an unevenness in food intake is forming energy
imbalance in their bodies. The amount of calorie consumption surpasses the
quantity of calories that are exhausted by the body. Ingestion of calorie-rich
food products resulted in fat build-up in the body and obesity. Whereas,
obesity is accountable for producing numerous health concerns such as
cardiovascular disease, type 2 diabetes, high blood pressure, and cancer.
Therefore, users are expansively demanding low-calorie sweeteners for food and
beverages.
Regional Insights:
North America to Lead Stoked by Rising Low-Calorie FoodConsumption
North America is among the prime consumers of sugarsubstitute products across the globe. Another major navigating factor is the
surging requirement to raise awareness of low-calorie food consumption in the
region. Admiration of healthy foods and beverages among the North American
population is the prime aspect predicted to hold the largest sugar substitutes
market share.
In Asia Pacific, industrialization has resulted in anupsurge in disposable income between the middle-class population in the region.
This has amplified the demand for health-refining products, comprising
high-quality and nourishing food products.
In Europe, diverse sugar substitutes, such as stevia,sucralose, sugar alcohols, and similar products, are trending highly among
consumers. This has resulted in sugar substitute producers to discover the
probability of creating inventive, tastier, high-quality, and nutritious sugar
substitute products for the developing market.
Competitive Landscape:
Acquisitions Initiated by Key Companies to Promote MarketGrowth
The leading players in the market constantly opt forefficient strategies to bolster their brand value as well as promote the global
sugar substitutes market growth. One such efficient strategy is acquiring
competitive companies and further securing a profit for both the companies.
Key Industry Development:
July 2023: Tate & Lyle PLC launched a newaddition to its sweetener portfolio named TASTEVA SOL stevia sweetener. The new
ingredient is premium-tasting stevia, which has 200x the solubility of Reb M
and D products.
