As per the report published by Fior Markets, 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. 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 market.
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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.
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.The companies are adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership to maintain their presence in the global market. For instance, in 2018, Zerovialaunched 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.
The sugar substitutes market is segmented on the basis of type, application and nature. 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 of 59.50% 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 sweetenershas 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 issweeter than regular sugar. The nature segment is divided into segments such as organic and conventional. The conventional segment is dominating the market and valued around USD 9.51 Billion. 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 application segment includes food and beverage, cosmetics and personal care and pharmaceuticals. The food and beverage segment is dominating with the highest share of 49.20% in 2018 due to an increased demand for natural health drinks and sports drinks with enhanced nutritional value. Also, growing awareness about proper food consumption among the obese and diabetic population is expected to boost the uptake of sugar substitutes in food products.
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Sugar is defined as a carbohydrate which is known for its sweet taste and is derived from various sources such as sugarcane. 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.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.
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