NEWARK, Del, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The sugar substitute market is likely to hold a valuation of US$ 28.57 billion by 2033. As of 2023, the market value is US$ 17.13 billion. The demand for lower-calorie alternatives is witnessing growth, making the sugar substitute market grow by 5.2% from 2023 to 2033.
As the world fights lifestyle-related chronic diseases like hypertension, diabetes, and obesity, the demand for artificial sweeteners such as stevia, monk fruit extract, and erythritol will likely experience an exponential surge in the near future. These sweetening solutions are curated to replicate regular sugar's exact taste and texture without increasing blood sugar levels, making it an excellent choice for health-conscious individuals.
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Governments in some countries are also actively promoting the use of low-calorie sweeteners to discourage sugar consumption and the associated health-related issues. The easy availability in supermarkets and e-commerce platforms also has played a pivotal role in the expansion of the overall market size for sugar substitutes. These artificial sweeteners find their applications in various foods and beverages like diet sodas, flavored drinks, ready-to-serve juices, etc.
Despite the current popularity of naturally procured sugar alternatives, artificial sweetening agents dominate the sugar substitute market due to their easy availability, affordability, and familiarity with consumers all over the world. Well-established companies in the food and beverage industry have heavily invested in experimenting with their products by using artificial sweeteners during production. This has led to the overall expansion in the market for sugar substitutes in the past few years.
“There is a lot of room for innovations in the sugar substitute market. Key players in the companies can blend various artificial sweeteners together to create a product that matches the taste and texture of regular sugar. They can even introduce fruit-flavored artificial sweeteners to give consumers a more delightful experience. Companies can also focus on curating plant-based sugar alternatives, thus appealing to a wider consumer base”, opines an FMI analyst.
Key Takeaways from the Sugar Substitute Market Report:
- The sugar substitute market is expected to grow at a modest rate of 5.2% from 2023 to 2033.
- Artificial sugar substitute products dominate the global market with an overall revenue share of 65.40%.
- The United States of America is the largest consumer of sugar substitute products, with a revenue share of 33.2%.
- The United States is followed by China (14.7%), Germany (8.3%), and Japan (5.8%) in terms of the consumption of sugar alternatives.
- The food and beverage industry is the largest consumer of sugar alternative products, with a global share of 69.40% of the sugar substitute market.
“The research manager's market study reveals that the sugar substitute market is experiencing significant growth driven by increasing consumer awareness of health concerns related to sugar consumption. With a growing demand for low-calorie and sugar-free alternatives”, says Nandini Roy Choudhury Client Partner for Food & Beverages at Future Market Insights, Inc.
Competitive Landscape of the Sugar Substitute Market:
According to a Future Market Insights study, the sugar substitute market is set to grow exponentially, thanks to heavy investment by key players in research and development in the past few years. To fulfill the everlasting demand for sugar alternatives, brands have capitalized on this opportunity and expanded beyond international boundaries. As the demand continues to grow, it is very likely that more local players will enter the competition, thus contributing to the overall market.
Global Sugar Substitutes Market by Category:
By Source:
- Natural
- Artificial
By Type:
- High-Intensity Sweeteners
- Stevia
- Aspartame
- Cyclamate
- Sucralose
- Saccharin
- ACE-K
- Others
- High Fructose Syrup
- Low-Intensity Sweeteners
- D-tagatose
- Xylitol
- Maltitol
- Sorbitol
- Erythritol
- Mannitol
- Others
By Product Type:
- Nutritive
- Non-Nutritive
By Application:
- Food & Beverages
- Nutrition and Health Supplements
- Pharmaceuticals
- Cosmetics and Personal Care
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Key Developments in the Sugar Substitute Market:
- A Canadian startup called Biofect Innovations has developed a method to transform substances such as lactose, starch, and glycerol into a protein-based sweetener named brazzein, which is thousands of times sweeter than sugar and boasts improved health attributes.
- Alchemy Foodtech, a startup based in Singapore, has introduced a sweetening solution designed for food companies seeking to replace sugar and reduce overall product calories. In February, Subway introduced the Chocolate Chip Cookie Siew Dai, incorporating Alchemy SweetFibre, resulting in nearly a 50% reduction in the cookie's sugar content.
- The US Food and Drug Administration (FDA) granted approval for allulose as a novel food additive. Allulose, a naturally occurring low-calorie sugar substitute found in fruits and vegetables, possesses sweetness akin to sugar without causing blood sugar spikes.
Author by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions, and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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