The global sugar substitutes market size is expected to reach USD 23.93 Billion at a steady revenue CAGR of 4.7% in 2028, according to latest analysis by Emergen Research. Rising awareness among consumers regarding the adverse effects of sugar on health such as increased risk of diabetes and obesity is driving market revenue growth. Rapid urbanization coupled with increasing spending power of consumers on processed food and beverages in developing countries is expected to propel growth of the market.
The report also offers details about market size, market share, revenue growth, and CAGR during the forecast period of 2021-2028. The report also offers key insights about top companies in the market along with a thorough SWOT analysis, Porter’s Five Forces analysis, and feasibility analysis to offer competitive edge to the readers. The report focuses on the recent trends, major challenges and opportunities, and limitations pertaining to the ongoing pandemic.
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The report also discusses the key players involved in the market such as Cargill, Incorporated, Tate & Lyle PLC, Archer Daniels Midland Company, PureCircle Limited, Ingredion Incorporated, Ajinomoto Co., Inc., E.I. Dupont De Nemours and Company, Roquette, JK Sucralose Inc., and The Nutra Sweet Company. and others as well as new entrants in the market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.
The study finds that how on certain account threats and challenges can act as a roadblock for the business. A thorough evaluation of the Sugar Substitutes market in the light of macro-environment such as social, political, economical as well as technological environment add granularity to the overall research. In addition, the study produces real-time data on vital aspects including sales, profits, gross margin and growth prospects to show how going forward the business will witness a substantial upswing.
Further key findings from the report suggest
- Natural segment accounted for largest revenue share in 2020. Shift in consumer preferences from synthetic or artificial sugar substitutes towards natural and organic products is expected to drive growth of the segment. As per the sugar alliance organization, almost 20% of the U.S. citizens agreed that they prefer natural sugar substitute-based food or drink products.
- High intensity sweeteners are commonly used as sugar substitute as they are sweeter than sugar but contribute to few or no calories when mixed with food. These sugar substitutes are approved by FDA and are safe for consumption under certain conditions of use. Some of the commonly used high intensity sweeteners are sucralose, aspartame, and saccharine.
- Stevia segment accounted for largest revenue share in 2020 due to its zero calories and zero glycemic index characteristics. Stevia is about 100 to 300 times sweeter than table sugar but has no calories, carbohydrates, or artificial ingredient. Over the past five years, approximately 10,000 stevia-based beverages and food products have been introduced, out of which most of the launces included soft drink production.
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The report further segments the global Sugar Substitutes market on the basis of product types and applications and provides insights into key factors influencing the revenue growth of the segments.
Emergen Research has segmented the global sugar substitutes market on the basis of origin, type, composition, application, and region:
Origin Outlook (Revenue, USD Billion; 2018-2028)
- Artificial/Synthetic
- Natural
Type Outlook (Revenue, USD Billion; 2018-2028)
- High-fructose syrups
- Low-intensity sweeteners
- High-intensity sweeteners
Composition Outlook (Revenue, USD Billion; 2018-2028)
- Sugar Alcohols
- Stevia
- Saccharine
- Sucralose
- Cyclamate
- Aspartame
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Beverage
- Food
- Pharmaceuticals
- Personal Care
Major Regions Covered in the Sugar Substitutes Market Report:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Reasons to Buy This Report:
- The report presents a thorough examination of the Sugar Substitutes market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
- The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
- The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.
- The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.
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