The growth of the market is driven by the increasing awareness of low-calorie food consumption and healthy food and beverages among people worldwide.
Market Size – USD 14.94 Billion in 2018, Market Growth - CAGR of 4.6%, Market Trends – Increasing awareness of low-calorie food consumption and healthy food and beverages among people worldwide are key factors that are expected to drive global market growth over the forecast period.
NEW YORK, April 25, 2019 (GLOBE NEWSWIRE) -- The Sugar Substitutes Market is forecasted to grow from USD 14.94 Billion in 2018 to USD 21.54 Billion by 2026, at a CAGR of 4.6%, during the forecast period. The market is primarily driven by the increased demand for sugar substitute from the food & beverage industries.
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Asia Pacific is estimated to be a promising region for sugar substitute manufacturers as a result of improving living standards of the middle-class population coupled with increasing consumer spending power. In addition, growing health-conscious population concerns are projected to be one of the key drivers of market growth.
China is one of APAC's major sugar substitutes markets. The presence of a large number of manufacturers and ageing population is driving demand for sugar substitutes.
Increasing awareness of the repercussions of high sugar consumption and increasing prevalence of diabetes around the globe is expected to support market growth. Fluctuating sugar prices are expected to create opportunities for sugar substitute’s manufacturers worldwide during the forecast period.
The increasing demand for zero-calorie or low-calorie products, coupled with increasing consumer awareness of sugar substitutes, is the primary factor that contributes to the growth of the market for sugar substitutes. Sugar substitutes are used primarily in processed foods such as drinks, ice creams, powdered drink mixes, puddings, jams, jellies, sweets, dairy products, and others.
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Further key findings from the report suggest
- The Sugar Substitutes Market is forecasted to grow from USD 14.94 Billion in 2018 to USD 21.54 Billion by 2026, at a CAGR of 4.6%, during the forecast period. The market is primarily driven by the increased demand for sugar substitute from the food & beverage industries.
- The market for high intensity sweeteners is expected to grow the largest at USD 10.12 Billion in 2026, at a CAGR of 4.8% during the forecast period. Changing trends in health and wellness around the globe are expected to boost high-intensity sweetener application over the forecast period. Increasing emphasis on reducing overall sugar consumption coupled with increasing health-conscious people's base is prompting the food & beverage industry to respond to the rising demand for healthy food from consumers. Industry-operating companies focus on developing foods and drinks that help meet the weight loss and dietary goals of customers.
- The market for beverage is expected to grow the largest at USD 9.80 Billion in 2026, at a CAGR of 4.6% during the forecast period. Due to the rising demand for natural health drinks and sports drinks with increased nutritional value, the segment is projected to dominate the market over the forecast period.
- The market for North America is expected to grow the largest at USD 10.77 Billion in 2026, at a CAGR of 5.1% during the forecast period. Due to the flourishing food processing industry, increased diabetes prevalence and increased obesity among the population, the region is expected to dominate the market over the forecast period.
- The major players in the market are Tate & Lyle (UK), Cargill Inc. (US), Archer Daniels Midland Company (US), Ingredion Inc. (US), Roquette Frères (France), Ajinomoto Co. Inc. (Japan), JK Sucralose Inc (China), PureCircle (Malaysia), The NutraSweet Company (US), and E. I. DuPont De Nemours (US).
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of type, origin, application and regional analysis.
Type (Revenue, USD Million; 2016-2026)
- High intensity sweeteners
- Low intensity sweeteners
- High fructose syrup
Type of Procedures (Revenue, USD Million; 2016-2026)
- Food
- Beverages
- Others
Origin (Revenue, USD Million; 2016-2026)
- Artificial
- Natural
Region (Revenue, USD Million; 2016-2026)
- North America
- US
- Europe
- France
- UK
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
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