The Global Sugar Substitutes Market was valued at USD 15.41 Billion in the year 2020 with North America leading the regional market share. The changing lifestyle trends and an increase in consumption of natural sugar substitutes due to high awareness of their health benefits are the prominent driving factors for the market in the last few years. Further, the rising prevalence of diabetes and increasing obesity among the regional population will further fuel the sweeteners demand in the coming years. Meanwhile, the demand in developed economies is already really high and the future growth is going to remain quite significant.
However, the Asia Pacific region is expected to witness lucrative growth over the forecast period. The key factors that will propel the market growth are rapid urbanization, a rise in consumer awareness about health issues, an increase in the inclination of consumers toward health-benefiting food products, and a surge in income and purchasing power. Moreover, intense competition among Sugar Substitutes makers exists due to the increasing demand for Sugar Substitutes from various application industries such as food & beverages, pharmaceuticals, dental and others. Increasing market demand is likely to encourage the entry of new companies in the future, driven by the increasing health awareness and acceptance of Sugar Substitutes among health-conscious people.
The COVID-19 pandemic has had a huge impact on the global economy and various businesses, including those dealing in consumer goods such as sugar substitutes. COVID-19 spread in unprecedented ways around the world due to its highly infectious and contagious nature and the lack of a vaccine. The major manufacturers are rethinking their business strategies and ensuring the production process remain safe by adhering to the government’s standards for the current situation in order to keep the market stable.
Rising prevalence of health issues like diabetes and obesity and expanding health benefits of sugar substitutes along with new and natural product innovations leading to enhanced applications of Sugar Substitutes in various end-user industries. Furthermore, the growing preference for natural sweeteners over synthetic or processed sugar are driving the utilization of these sweeteners in functional foods, soft drinks, natural health drinks, sports drinks and others. These factors, in turn, are projected to fuel the demand for Sugar Substitutes over the coming years.
Scope of the Report
- The report presents the analysis of the Sugar Substitutes Market for the historical period of 2016-2020 and the forecast period of 2021-2026.
- The report analyses the Sugar Substitutes Market by Value (USD Millions).
- The report analyses the Sugar Substitutes Market by Origin (Natural, Artificial)
- The report analyses the Sugar Substitutes Market by Product Type (High-Intensity Sweeteners, Low-Intensity Sweeteners, High-Fructose Syrup).
- The report analyses the Sugar Substitutes Market by Application (Beverages, Food Products, Health & Personal Care)
- The Global Sugar Substitutes Market has been analysed By Region (North America, Europe, Asia Pacific, LAMEA).
- The Global Sugar Substitutes Market has been analysed By Country (United States, Canada, Germany, United Kingdom, France, Spain, China, Japan, India, Australia).
- The key insights of the report have been presented through the frameworks of SWOT Analysis. Also, the attractiveness of the market has been presented by region, by Origin, by Product Type and by Application. Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
- The report tracks recent product developments, strategies and mergers and acquisitions. The companies analysed in the report include ADM Company (U.S.), Whole Earth Brands (U.S.), Dupont De Nemours, Inc.(U.S.), Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), JK Sucralose Inc. (China), Ajinomoto Co. (Japan), Roquette Fr?res (France), Zydus Wellness Ltd (India).
Key Target Audience
- Sugar Substitute Product Manufacturers
- FMCG Companies
- Pharmaceutical Industry
- Government and Research Organisations
- Consulting and Advisory Firms
- Investment Banks and Equity Firms