Sugar Substitutes Market 2019 | Most Attractive Segment, Comprehensive Research, Industry Analysis, Size, Growth Factors, Forecast To 2023
Sugar substitutes are gaining traction as they have lower health risks compared to processed sugar. The market for sugar substitutes is growing asserts Market Research Future (MRFR) in its latest report.
pune, India – August 7, 2019 /MarketersMedia/ —
Market Overview and Growth Factors:
Sugar substitutes are gaining traction as they have lower health risks compared to processed sugar. The market for sugar substitutes is growing asserts Market Research Future (MRFR) in its latest report. As consumers become more health conscious, demand for low calories and sugar free product grows further. Sugar substitute is gaining popularity in the food and beverage sector owing to its advantages. Demand for naturally occurring sugar substitutes is likely to grow sharply in the forthcoming years. Over the years, a vast array of sugar substitutes has come up.
The consumer trends are favouring natural and herbal food products, which is likely to influence the market growth during the forecast period. Modern consumers, especially the millennial population, are more aware of the food they eat. Food companies need to be aware of the changes in food preference and align themselves accordingly.
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Global Sugar Substitutes Market: Competition Analysis
Some of the leading companies operating in the market include:
Tate & Lyle PLC
The Archer Daniels Midland Company
I. du Pont de Nemours and Company
Ingredion Incorporated
Merisant Company
JK Sucralose Inc
Cargill
Industry News
F&B giant Nestlé yet again made headlines with its latest chocolate innovation. In line with its vision to make its product more health-centric, the company has launched a new variant of chocolate KitKat bar with no added sugar.
Zerovia a fast-growing food company, which focuses on developing calorie-free products has reportedly unveiled a unique stevia natural sweeteners in India. The company is known for its zero calorie natural sweeteners.
Global Sugar Substitutes Market: Segmental Analysis
The segmental analysis of the market has been conducted on the basis of type, product type, application, and formulation.
Based on type, the market has been segmented into high-fructose syrups, low-intensity sweeteners, high-intensity sweeteners and others. The high-intensity sweeteners segment represents the largest market share. The low-intensity sweeteners segmented holds the second spot in terms of value.
Based on product type, the market has been segmented into low-intensity sweeteners category and high-intensity sweeteners category. The low-intensity sweeteners category covers D-Tagatose, Maltitol, Sorbitol, Erythritol, Xylitol, among others. The high-intensity sweeteners category covers Saccharin, Stevia, Acesulfame potassium (Ace-K), Sucralose, Aspartame and others. The stevia-base high-intensity sweeteners segment is expected to remain highly profitable during the assessment period. This is mainly owing to the rapid consumer inclination towards naturally occurring sweeteners.
Based on application, the market has been segmented into Beverages, Healthcare products, Bakery and Confectionery, Personal care products, Dairy Products and others. Of these, the bakery and confectionery segment currently accounts for the largest market share. In addition, the segment is expected to witness rapid growth during the forecast period. Segment’s growth is driven by widespread application of sugar substitute in bakery and confectionery products.
Global Sugar Substitutes Market: Regional Analysis
Key regions covered in MRFR’s report include Europe, North America, the Middle East & Africa (MEA), Latin America and Asia Pacific (APAC). In terms of revenue, North America accounts for a significant share of the global sugar substitutes market. Rising health consciousness among American consumers is reflecting favourably on the region market. Increased demand of low-calorie food product in countries such as the U.S. and Canada has fuelling the demand for sugar substitutes. Europe also represents a fast-growing market for sugar substitutes. Countries such as the U.S., Germany, Netherlands, and Mexico are major importers of sugar substitutes. Increase consumption calories-free snacks is prompting supplier to expand operation in these counties. Asia Pacific is also expected to emerge as an attractive market for sugar substitute during the forecast period.
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