Sugar substitutes are food additives that were used in place of table sugar (sucrose) to sweeten and increase the flavour of edibles. As their intake does not immediately raise blood sugar, these substitutes are widely used in the preparation of beverages and sugar-free foods like candies, baked goods, soft drinks, dairy products, canned foods, powdered drink mixes, puddings and jellies. Some of the standard sugar substitutes that exist in the market include D-tagatose, xylitol, sorbitol, maltitol, Stevia, acesulfame and neotame.
The global sugar substitutes marketreached a worth of US$ 15 Billion in 2020. The market is further estimated to reach US$ 19 Billion by 2024, rising at a CAGR of more than 4% from 2020 to 2025.
In May 2018, Cargill presented a new zero-calorie sweetener with substances taken from Stevia. The product name ‘EverSweet’ was released amidst the rising demand for healthier substitutions to the synthetic sweeteners.
Market Drivers and Restrains
The rising demand for low-calorie and zero-calorie products, mixed with rising buyer awareness of sugar substitutes, is the main factor that contributes to the progression of the market for sugar substitutes. Growing awareness of the repercussions of high sugar taking and increasing prevalence of diabetes around the globe is expected to help market growth.
Changing sugar prices are expected to make opportunities for sugar substitute manufacturers internationally during the forecast period. Rising health-conscious population problems are projected to be one of the significant drivers of market progress. The rising use of Stevia is likely to increase the intake of sugar substitutes and enable the development of this market in the forthcoming years.
Report is segmented as
- High-intensity Sweeteners
- Low-intensity Sweeteners
- High-fructose Syrups
Geographically, Europe and North America are the major regions in the global sugar substitute market, while the Middle East and Africa and Asia Pacific are anticipated to witness quick growth in the future.
Key market players:
- Tate & Lyle
- Cargill Incorporated
- I. DuPont De Nemours
- Archer Daniels Midland Company
- Ajinomoto Co. Inc.
- Ingredion Incorporated
- The Nutra Sweet Company
- JK Sucralose Inc.
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