Global Sugar Substitutes Market is expected to foresee significant growth during the forecast period. Europe to witness the highest growth
Global Sugar Substitutes Market is expected to reach the market valuation of US$ XX million by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from US$ XX million in 2020. Sugar Substitutess are chemical or plant-based substances used to sweeten or enhance the flavor of foods and drinks. You may have heard them called “artificial sweeteners” or “non-caloric sweeteners. Added sugar is one of the most controversial ingredients in the modern diet. It has been associated with many serious diseases, including obesity, heart disease, diabetes, and cancer. Part of the problem is that most people consume way too much sugar without knowing it.
The demand for Sugar Substitutess is witnessing an uptick on account of the emerging health consciousness among consumers to encourage the demand for healthier food choices, increase in demand for natural sweeteners due to the rise in consumer inclination toward natural products, and growing demand for sugar Substitutess in various applications in the food & beverage industry. As per FAO real sugar prices are expected to remain at the levels of 2019 (Figure 5.2), i.e., lower than the average of the last 20 years, where prices experienced upward pressure through the competition from biofuels (ethanol). By 2029, the nominal world price is projected to be USD 386/t (USD 17.5cts/lb) for raw sugar and USD 469/t (USD 21.3cts/lb) for white sugar. The white sugar premium is projected to grow slightly to USD 83/t by the end of 2027, because of a slightly increasing demand.
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Global production is forecast up 6 million tons to 186 million as higher production in the EU, India, and Thailand will more than offset the decline in Brazil. Consumption is forecast to rise to a new record due to growth in markets such as China and India. Exports are forecast up as the increase from Thailand along with strong exports from India will more than offset lower exports from Brazil.
The World Health Organization’s (WHO) sugar guideline, issued in March 2015, recommends that adults and children restrict their sugar intake to less than 10% of total energy intake per day, which is the equivalent of around 12.5 teaspoons of sugar for adults and suggests a further reduction to below 5% of total energy intake per day.
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Subsequently the outbreak of COVID-19, the buyers have become more health-conscious and were actively looking for food products that offer them health benefits. Moreover, people are more inclined towards low-calorie and low-sugar food products owing to the surging awareness regarding the harmful effect of sugar on health. Furthermore, the manufacturers of sugar Substitutess are following the norms set by the world health organization (WHO) with the safety of the employees along with the steps to manage the demand and supply of sugar Substitutes products.
Based on the Type, the market is mainly fragmented into High Fructose Syrup, High-Intensity Sweetener, and Low-Intensity Sweetener. The High-Intensity Sweetener segment dominated the market in 2020 and gathered XX% in 2020. Moreover, the segment is anticipated to maintain its dominance during the analyzed period. The FDS has approved Six high-intensity sweeteners as food additives in the United States which are saccharin, aspartame, acesulfame potassium (Ace-K), sucralose, neotame, and advantages. Aspartame is the most used low-calorie artificial sweetener in the high-intensity sweeteners market. However, the high fructose syrup segment is anticipated to witness the skyrocketed CAGR during the forecast period.
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Additionally, the report provides detailed initiatives that are being taken in the field of Sugar Substitutes. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and the Rest of APAC), Rest of World has been conducted. North America region dominated the market with US$ XX million in 2020. However, the Asia-Pacific region is expected to witness the highest CAGR during the forecast period on account of rising health awareness among end-users in the European countries.
Global Sugar Substitutes Market Segmentation
Market Insight, by Type
- High Fructose Syrup
- High-Intensity Sweetener
- Low-Intensity Sweetener
Market Insight, by Origin
- Artificial/ Synthetic
Market Insight, by Form
Market Insight, by Application
- Food Products
- Health & Personal Care Products
- Others (Pharma)
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Cargill Incorporated
- Tate & Lyle
- Ingredion Incorporated
- Roquette Frères
- Purecircle Ltd
- Macandrews & Forbes Holdings Inc
- K Sucralose Inc.
- Ajinomoto Co. Inc.