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Sugar Substitutes Market: Meticulous Research® Reveals Why This Market Is Expected to Grow at a CAGR of 4.9% from 2021 to 2028 to Reach $24.1 Billion by 2028

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Sugar Substitutes Market: Meticulous Research® Reveals Why This Market Is Expected to Grow at a CAGR of 4.9% from 2021 to 2028 to Reach $24.1 Billion by 2028

August 17
19:52 2021
Sugar Substitutes Market: Meticulous Research® Reveals Why This Market Is Expected to Grow at a CAGR of 4.9% from 2021 to 2028 to Reach $24.1 Billion by 2028
The Sugar Substitutes Market is expected to grow at a CAGR of 4.9% from 2021 to 2028 to reach $24.1 billion by 2028. S
Sugar Substitutes Market by Source (Natural, Artificial), Type (High Intensity, HFCS), Product (Sucralose, Stevia, Aspartame, Saccharin, Polyols), Form, Application (Beverages, Food, Pharmaceuticals, Other Applications) – Global Forecasts to 2028

The sugar substitutes industry is one of the significant ingredient industries and varies widely in terms of production scale and process. Growth in the sugar substitutes industry has opened new avenues for food, beverages, pharmaceutical, and other industries. The growing health concerns and increasing consumption of sugar-free products indicate the untapped growth potential of the sugar substitutes market. According to the latest publication on the Sugar Substitutes Market by Meticulous Research®, the sugar substitutes market is expected to grow at a CAGR of 4.9% from 2021 to 2028 to reach $24.1 billion by 2028.

The sugar substitutes market is mainly driven by rising demand for functional food products, growing prevalence of diabetes & obesity, and surging demand for natural sweeteners. However, stringent government regulations and adverse health effects associated with sugar substitutes are expected to restrain the growth of this market to some extent in the near future.

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To provide an efficient and accurate analysis, Meticulous Research® has segmented this market based on source (natural and artificial), type (High-fructose corn syrup, high-intensity sweeteners, and low-intensity sweeteners); product [non-nutritive sweeteners (acesulfame-K, saccharin, sucralose, stevia, luo han guo, neotame, and others) and [nutritive sweeteners (aspartame, polyols, and high fructose corn syrup)]; form (solid and liquid); application (food, beverages, nutritional and health supplements, pharmaceuticals, and other applications); and geography. The study also evaluates industry competitors and analyzes the market at regional and country levels.

The sugar substitutes market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The increasing number of obese and diabetic population, growing health and wellness concerns, a well-established food and beverage industry, and strong demand for sugar-free products contribute to North America`s expected largest share in the sugar substitutes market in 2021. However, the Asia-Pacific region is projected to offer lucrative growth to the key players in the market and achieve the fastest growth during the analysis period. The rapid growth of this market is mainly attributed to the changing lifestyle, the emerging trend of healthy food & food ingredients, increasing awareness about the health benefits of sugar-free products, and rapid urbanization. Also, the growing diabetic and obese population further support the growth of the sugar substitutes market in the region.

Scope of the Report:

Sugar Substitutes Market, by Source                              

  • Natural
  • Artificial

Sugar Substitutes Market, by Type

  • High-fructose Corn Syrup (HFCS)
  • Low-intensity Sweeteners
  • High-intensity Sweeteners

Sugar Substitutes Market, by Product

  • Non-nutritive Sweeteners
    • Sucralose 
    • Stevia
    • Acesulfame-K
    • Luo han guo (Monk Fruit)
    • Saccharin 
    • Neotame
    • Other Non-nutritive Sweeteners
  • Nutritive Sweeteners
    • High Fructose Corn Syrup
    • Polyols
    • Aspartame 
    • Other Nutritive Sweeteners

Sugar Substitutes Market, by Form

  • Solid
  • Liquid

Sugar Substitutes Market, by Application

  • Beverages
  • Food
  • Nutrition and Health Supplements
  • Pharmaceuticals
  • Other Applications

Sugar Substitutes Market by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe (RoE)
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • Rest of Asia-Pacific
  • Latin America
  • Middle East & Africa

To gain more insights into the market with a detailed table of content and figures, click here :https://www.meticulousresearch.com/product/sugar-substitutes-market-5174

Based on source, the sugar substitutes market is segmented into natural and artificial. The natural sugar substitutes segment is expected to hold the major share of the sugar substitutes market in 2021. The large share of this segment is mainly attributed to the increasing consumer awareness regarding consumption of food products with natural ingredients, growing consumer preference for clean label and healthy products, and increasing use of stevia and other natural sugar substitutes by leading food and beverage companies.

Based on type, the sugar substitutes market is segmented into high-fructose corn syrup, high-intensity sweeteners, low-intensity sweeteners. The high fructose corn syrup segment is expected to register the largest share of the sugar substitutes market in 2021. This segment’s leading position is mainly attributed to its high solubility, ability to remain in solution and not get crystalized, and low cost compared to other categories, which further supports the largest share of this segment.

Based on product, the sugar substitutes market is segmented into non-nutritive and nutritive sweeteners. Further, the non-nutritive sweeteners segment is divided into sucralose, acesulfame-k, saccharin, stevia, luo han guo (monk fruit), neotame, and other non-nutritive sweeteners. The sucralose segment is expected to generate the largest portion of the revenue of the non-nutritive sugar substitutes market in 2021. Key factors contributing to the dominant position of this segment are the growing application of sucralose in food and beverages, high shelf-life, and its requirement in low quantity to achieve desired sweet taste.

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Based on form, the sugar substitutes market is segmented into solid and liquid. In 2021, the solid segment is expected to generate the highest revenue with the fastest CAGR during the forecast period. This segment’s dominant position and fast growth are mainly attributed to its wide availability and ease of handling, transportation, and storage; better shelf-life; and effective product formulation. The powder’s high concentration and ease of use in various applications due to high mixability also contribute to this growing segment.

Based on application, the sugar substitutes market is segmented into food, beverages, nutrition and health supplements, pharmaceuticals, and other applications. The beverages segment is expected to dominate the sugar substitutes market in 2021. The dominant position of this segment is mainly attributed to the growing awareness of health benefits related to sugar substitutes in beverages, increasing new product development and launches of sugar substitute-based beverages, and rising demand for sugar-free beverages. Also, the demand for natural health and sports drinks with enhanced nutritional value is expected to boost in the near future. However, the food application segment is expected to register the fastest growth during the forecast period of 2021-2028.

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Key Players

The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market, including Tate & Lyle PLC (U.K.), Roquette Frères (France), Archer Daniels Midland Company (U.S.), Dupont De Nemours, Inc.(U.S.), Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), JK Sucralose Inc. (China), Ajinomoto Co. (Japan), The NutraSweet Co. (U.S.), Südzucker AG (Germany), Guilin Layn Natural Ingredients Corp. (China), Zhucheng Haotian Pharm Co., Ltd. (China), HSWT France SAS (France), and Stevialite Holding (Colombia), among others.

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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