The Global Sugar Substitutes Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Global Sugar Substitutes Market is estimated to be 14.90 USD billion and predicted to rise to 18.88 USD billion with a CAGR of 4.85%. The market is segmented by Type (high-intensity sweeteners, low-intensity sweeteners, high-fructose syrups), by Composition (Stevia, Aspartame, Cyclamate, Sucralose, Saccharin, AceK, D-Tagarose, Sorbitol, Maltitol, Xylitol), by Application (heath & personal care, beverages, food). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The market for Sugar substitutes is mainly driven due to increasing incorporation of sugar substitutes in the health & personal care industries, rising prevalence of health problems related to sugar consumption, and increasing consumer awareness regarding health. But, the market growth can be hampered due to stringent regulatory framework, and stringent quality criteria complying with the international quality standards.
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, North America is the biggest market in terms of market share across the globe, followed by Europe. The market in these regions is quite mature due to rising prevalence of diabetes and obesity, and growing consumer demand for sugar substitutes. Asia Pacific and MEA regions are estimated to achieve highest gains in the near future, followed by Latin America. Emerging economies of these regions are providing lucrative profit margins to the key market participants, due to which these markets are growing with very high CAGR.
Cargill Incorporated, Tate & Lyle PLC, E. I. du Pont de Nemours and Company, Roquette Freres S.A., PureCircle Ltd., Ajinomoto Co. Inc., Archer Daniels Midland Company, MacAndrews & Forbes Incorporated, Ingredion Incorporation, and JK Sucralose Incorporation, are the major players of Global Sugar Substitutes market.
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