The global Sugar Substitutes Market is predicted to reach USD 19.1 billion in the forecast period owing to the growing customer’s preference towards low-calorie foodstuffs. Sugar Substitutes are the chemical or plant-based constituents that sweeten the flavor of drinks and foods. They are also known as the “artificial sweeteners” or “non-caloric sweeteners” which are used as an ingredient in processed foods and drinks or as a tabletop sweetener like sweetening a glass of ice tea.
The sugar substitutes are sweeter than sugar, therefore the small quantity of these substitutes offers a greater level of sweetness. Most Sugar Substitutes are less in calories or contain no calories. The growing demand for low-calorie foodstuffs is projected to boost the sugar substitutes market significantly by 2024 with a CAGR of 4.2%. The demand for sugar substitutes is spurring across the globe. Especially in the beverage industry where the sweetness intensity varies from drink to drink, sugar substitutes are extensively used. The market growth is driven by the factors like quality of the sugar substitutes, the mixture, and content in processing foods, the standards enforced by local and international governments.
One of the major drivers of the market is the rise in the number of ventures pertaining to the food industry. This is because the food industry is the main source of taste and has wide applications in medications too. The rising cost of raw materials and the growing supply chain prices are expected to restrain the market in the future. However, consumption of high content sugar foods leading to diabetes, heart disease, and obesity is also increasing. Currently, people are adopting sugar-free products as a preventive measure for the growing health problems. Most health issues are found among people above 45 years of age and are expected to fuel the sugar substitute market in the coming years.
Get Free PDF Sample Copy of the Report (Including Full TOC, List of Tables & Figures) @ https://www.millioninsights.com/industry-reports/sugar-substitutes-market/request-sample
Stevia is a unique food ingredient, obtained from plants is best known for restricting the calories in the body. It is gaining demand in the European countries since it can be added to beverages as a sweetener in combination with sucrose. Strict safety standards are a major challenge for the sugar substitutes players. They are required to receive approvals from authorities like Foods Standard Agency before the launch of the product. The beverages and foods that contain artificial sweeteners must essentially follow the guidelines imposed by the regulatory bodies concerning the number of sweeteners to be used, labeling, marketing, and the daily average intake of sweeteners.
The sugar substitutes industry is segmented especially due to the existence of numerous large and small players that strengthen the competition for factors like quality, price, innovation, reputation, packaging, distribution, and marketing channels. Such penetrating competition among the players along with speedy technological variations is a key challenge that affects the operations of the players in the sugar substitutes industry. To stand successfully in such a competitive market, the vendors must distinguish themselves through USP (Unique Selling Proposition).
The sugar substitutes market is categorized on the grounds of product type, composition, application, and geography. On the grounds of product type, the market is divided into High-intensity sweeteners, Low-intensity sweeteners, and High-fructose syrups. On the grounds of composition, the industry is divided into High-intensity sweeteners and Low-intensity sweeteners. High-intensity sweeteners can be further classified as Stevia, As per tame, Cyclamate, Sucralose, Saccharin, Ace-K, and others. Low-intensity sweeteners can be further classified as D-Tagatose, Sorbitol, Maltitol, Xylitol, Mannitol, Erythritol, and others. On the grounds of application, the sugar substitutes industry is divided into Beverages, Food (Confectionery, bakery, dairy, and frozen foods), and Health & Personal Care.
Geographically, the sugar substitutes market is sub-segmented as North America, Asia Pacific, Europe, Latin America, and the rest of the world (RoW). The speedy growth of consuming low-calorie food is observed especially in developing nations like the Middle East, Asia-Pacific, Latin America, and Africa. This is predicted to drive the global market. This also results in the rising focus of main sugar substitute manufacturers on offering superior quality and safe products with the help of advanced technologies. This is projected to affect the market in terms of quality and quantity.
The major players in the sugar substitutes industry are Cargill Incorporated, Tate & Lyle PLC, E. I. du Pont de Nemours and Company, Roquette Freres S.A., and Pure Circle Ltd., Ajinomoto Co. Inc., Archer Daniels Midland Company, MacAndrews & Forbes Incorporated, Ingredion Incorporation, and JK Sucralose Incorporation.
Access Full Research Report @
https://www.millioninsights.com/industry-reports/sugar-substitutes-market
