Global Sugar Substitutes Market - 2023-2030

Global Sugar Substitutes Market - 2023-2030

Global Sugar Substitutes Market reached US$ 7.3 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 12.3 billion by 2030 and is expected to exhibit a CAGR of 6.8% during the forecast period 2023-2030. The demand for sugar substitutes is increasing as they are wide availability of different products such as sucralose, aspartame, saccharin, and some others
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The growing demand for sugar substitutes as they provide zero-calorie or low-calories, increase in health consciousness, raising in obesity population, others are driving the global sugar substitute market. Sugar substitutes are used in the processed food and beverage industry as an alternative to conventional sugars. These factors are increasing the global sugar substitute market size.

Key players are also focusing on brand improvement, product innovation, and launches to increase revenue and market share. For instance, In April 2020, Ingredion EMEA launched its first polyol sweetener, Erysta Erythritol. This sweetener enables manufacturers to reduce or replace sugar which acts as 'no added sugar' or 'calorie-reduced,' in multiple applications. This launch can help in raising the global Tropical Fruit market share value.

Market Dynamics
Increasing Heath Consciousness among Consumers is Estimated to Drive the Sugar Substitutes Market Growth.

People are leading a more sedentary lifestyle with a lack of exercise. The quantity of calorie intake exceeds the number of calories, which is burned by the body. Consumption of calorie-rich food products has led to fat accumulation in the body and obesity, cardiovascular diseases, high blood pressure, and some others. Thus, consumers are increasingly demanding low-calorie sweeteners for food and beverages in recent years.

People are shifting towards sugar substitutes as they provide low calories. As they become more health conscious and prioritize weight management. The sugar substitute is considered the best alternative to conventional sugar for diabetic people. Consequently, the market for sugar substitutes would increase more during the forecast period of 2021–2026.

Increasing Product launches of Sugar sweeteners are Driving the Sugar Substitutes Market Growth.

Increasing product launches are driving market growth. The popularity of sugar substitutes is increasing as people are becoming more aware of their calorie intake, and weight management. The sugar substitute is available in different varieties such as aspirin, high-intensity sweetener, sucralose, saccharin, stevia, and some others. These products of sugar substitutes are likely to increase market growth.

The producers of sugar substitutes are utilizing consumers’ approval for innovative varieties to develop value-added items that will diversify their product lines. For instance, Sweegen, a U.S based company had launched the first ever liquid stevia-based sweetener that is Bestevia LQ. These launches help in driving the global sugar substitute market
Excessive Intake of Sugar Substitutes Causes Adverse Effects on Health Impedes the Market Growth.

Overconsumption of certain sugar substitutes such as aspirin, high-intensity, stevia, and some others can increase cholesterol levels, and high blood pressure, alter metabolism, hormone disruption. Aspartame can increase the risk of breast cancer, and obesity. These adverse health effects can cause declination in global sugar substitute market growth.

Excessive intake of sugar substitutes is the main reason for the increase in obesity and diabetes. For instance, The World Obesity Federation’s 2023 atlas predicts that 51% of the world, or more than 4 billion people, will be obese or overweight within the next 12 years. This causes restrain to the global sugar substitute market.

COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis
The global sugar substitutes market is segmented based on type, composition, application, and region.

In the Global Market of Sugar Substitutes, the High-Intensity Sweeteners Segment Holds the Largest Market Share.

The global sugar substitutes market has been segmented by type into high fructose syrup, high fructose syrup, low-intensity sweetener, and others. The high-intensity sweeteners segment held the largest sugar substitutes market share of 35.8% in 2022 in the sugar substitutes market analysis report. Consumers are more willing to shift to sugar alternatives as they provide less calorie intake and provide the same taste and flavor as conventional sugar.

The rising demand for less sugar to no sugar products such as sucralose, stevia, saccharin, and other products in the global market is leading to consumer reach expanding to a wider group. Rising health concerns and increasing awareness about the benefits of alternative sweeteners among consumers across the globe are major driving factors of the market growth over the forecast period.

Geographical Analysis
The North America Region Held the Largest Share of the Sugar Substitutes Market.

The global sugar substitutes market is segmented into five parts of the world based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The North America sugar substitutes market held the largest market share of 42.6% in 2022 in the sugar substitutes market analysis. The growing urbanization and rising purchasing power of the users are leading to the increasing market chances for sugar substitutes over the forecast period.

Health-related factors, raising in diabetics that affect population purchasing power, and changes in consumer lifestyle are the main factors influencing sugar substitute consumption across North America. Modern lives, which include flexibility, mobility, and increase production of sugar substitutes, are also having an impact on sugar substitute consumption.

Competitive Landscape
The major global players in the market include Ingredion Incorporated, Cargill Incorporated, Roquette Freres, Pure Circle Ltd, MacAndrews & Forbes Holdings Inc., Ajinomoto Co. Inc., JK Sucralose Inc., Foodchem International Corporation, Beijing Stevia Co., Ltd., and Qingdao Haisan New Energy Co., Ltd.

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
Covid-19 Impact:
The unprecedented COVID-19 pandemic in 2020 had a profound effect on the sugar substitute industry. Covid-19 has had a considerable impact on the phases of the global sugar substitute chain that involve sugar substitute production, processing, distribution, and consumption as a result of lockdowns and restrictions imposed by various governments.

Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry in the world, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence and could have an impact on interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.

The COVID-19 pandemic issue has had an impact on the sugar substitute industries as well. The COVID-19 pandemic is upending life, and the fruit processing sector is seeing an increase in trends like artificial sweeteners, high-intensity sweeteners, non-nutritive sweeteners, low-calorie sweeteners, and natural sweeteners. The sugar substitute businesses are launching innovative programs, including stevia, sucralose, aspartame, saccharin, and others. Which are readily available and simple to consume.

Why Purchase the Report?
• To visualize the global sugar substitutes market segmentation based on type, composition, application, and region and understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of sugar market level with all segments.
• The PDF report consists of a cogently put-together market analysis after exhaustive qualitative interviews and an in-depth market study.
• Type mapping is available as Excel consists of key types of all the major market players.
The Global Sugar Substitutes market report would provide approximately 62 tables, 71 figures and 190 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies