The Asia Pacific Sugar Substitutes Market size has been estimated at USD 3.12 Billion in 2022 and is projected to reach USD 4.23 Billion by 2028, at a CAGR of 6.20% during the forecast period from 2023 to 2028.
Regular sugar which is high in calories is being replaced by a vast array of sugar substitutes in the food & beverage industry. Diet sodas, cereals, dietary foods, and sugar-free desserts are some of the products in which Sugar Substitutes are being used.
The market for sugar substitutes is mainly driven due to increase in consumer awareness which has resulted in consumers paying closer attention to food labels to ensure that the calorie content and growing awareness of the link between diet and health the problem of obesity and diabetes. But, the market growth can be hampered due to major bottlenecks in terms of regulations by governing bodies.
Asia Pacific market for Sugar Substitutes is segmented based on type, composition, and application. By type, the market is further sub-segmented into high-intensity sweeteners, low-intensity sweeteners, high-fructose syrups. By composition, the market is further sub-segmented into Stevia, Aspartame, Cyclamate, Sucralose, Saccharin, AceK, D-Tagarose, Sorbitol, Maltitol, Xylitol. By application, the market is further sub-segmented into heath & personal care, beverages, food (confectionery, bakery, dairy, and frozen foods). High-intensity sweeteners account for a highest market share and is expected to grow at a CAGR. Its attributes such as cost reduction and appropriate blending with food & beverages to enhance the taste are anticipated to propel the demand in near future. Food segment has the fastest growth, owing to increasing awareness and changing consumer patterns for low-calorie food products.
Geographically, Asia Pacific market for Sugar Substitutes is segmented into China, India, Japan, South Korea and Australia. Asia Pacific will be achieving highest gains in the near future and is growing with very high CAGR, due to emerging economies of these regions which are providing lucrative profit margins to the key market participants.
Key Players in the Market:
Major Key Players in the APAC Sugar Substitutes Market are
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