The global sugarsubstitutes market size is expected to reach USD 10.27 billion by2026, exhibiting a CAGR of 6.3% duringthe forecast period. In 2018, the market value stood at USD 6.35 billion. Increasedcustomer awareness of health issues would drive the demand for healthy foodoptions, shares FortuneBusiness Insights™ in its report, titled “Sugar Substitute Market, 2019-2026”.
Themarket is primarily expanding as people become more conscious of the adversehealth effects of synthesis sugar, which contribute to obesity and diabetes.Sugar replacements such as stevia, aspartame, sorbitol, and D-tagatose, on theother hand, do not raise blood sugar levels immediately, contain little to nocalories, and do not cause tooth decay or cavities. As a result, agrowing prevalence of diabetes and improving customer health-consciousness arethe primary drivers of this business. Furthermore, with the help of governmentagencies and other governmental bodies, the public is being nudged to use sugarsubstitutes to reduce sugar intake due to the harmful effects of refined sugar.
COVID-19 Impact:
Theunpredictable circumstances created by COVID-19 pandemic circumstances aroundthe world have had a significant effect on the sugar substitutes market growth.COVID-19 has severely impacted finished product supply chains as well as rawmaterial ingredients. Sugar alternatives provided by many prominent players indifferent countries to end-users worldwide, so the market is expected to facesupply constraints. On the other hand, regional consumption is likely toincrease as consumers are increasingly focusing on weight management andadherence to various diets to preserve good health.
Segments:
Basedon type, the market is segmented into aspartame, acesulfame potassium,saccharin, sucralose, stevia, sugar alcohols, and others. Based on application,the market is categorized into food & beverages, pharmaceuticals, andpersonal care, and cosmetics. By geography, the market is segmented into NorthAmerica, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Highlights:
Thereport offers comprehensive analyses of companies that are redefining thedynamics of this market. In addition to that, it provides an accurateassessment of the market by highlighting data on multiple aspects related togrowth drivers, opportunities, trends, and hindrances. It also represents theoverall market size from a global perspective by analyzing historical data andproviding qualitative insights.
Drivers & Restraints:
Rising Consumer Demand for Low-Calorie Beverages Choices to FuelMarket Growth
Therising demand for zero-calorie or low-calorie foods and beverages, combinedwith increased consumer knowledge of sugar substitutes, is one of the leadingfactors driving this market's growth. Sugar replacements are commonly used inbeverages, ice creams, powdered drink mixes, puddings, sauces, jellies,candies, dairy products, and other refined foods. Consumers are morehealth-conscious these days, and they choose to eat a balanced diet. Tablesugar, for instance, which is high in calories, is increasingly being replacedby natural sugar alternatives derived from ingredients such as honey and maplesyrup in the food and beverage industry.
Sugarsubstitutes are also being used to replace corn syrup and refined sugar indiverse food applications such as cakes, canned foods, and jams. For example,xylitol is a sugar alcohol that has a similar sweetness to sugar. It comes fromcorn or birch wood and can be used with a variety of fruits and vegetables. Theabsence of fructose, the key ingredient responsible for the majority of sugar'snegative effects, renders xylitol a promising sugar replacement, includingimproved dental health.
Regional Insights:
Asia Pacific to Emerge as the Most Rapidly-Growing Market forSugar Substitutes
TheAsia Pacific region is anticipated to develop at the highest pace and lead thesugar substitutes market share. Customers' lifestyles are speedily changing inthis region and they are becoming more health-conscious, thus boosting theregional market for natural sweetening products. This region is also undergoingsignificant changes in terms of diet diversification and rapid urbanization.Furthermore, an increase in consumer understanding of health issues, along withimprovising disposable incomes, has led to a shift in consumer preferencetowards low-sugar, high-energy diets.
Thedemand for sugar substitutes is expected to surge across North America. Theinvolvement of major players in the region and a rise in the consumption ofsubstitutes of refined sugar due to increased knowledge of the ill-effects ofsugar are positively influencing the regional market. In 2018, the region’smarket size stood at USD2.39 billion.
Competitive Landscape:
Manufacturers to Increase R&D Investments to Produce Newer andBetter Offerings
Manufacturersare steadily investing in the research and development of new sugar substitutesto achieve a competitive advantage over their rivals. Many foods and beveragecompanies are substituting natural sugars for normal sugars to reduce thecalorie content in their finished products.
Browse Detailed Summary of Research Reportwith TOC:
https://www.fortunebusinessinsights.com/industry-reports/sugar-substitutes-market-100261
