Global Sugar Substitute Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Sugar Substitute Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Sugar substitutes are chemical or plant-based substances used to sweeten or enhance the flavor of foods and drinks. Most sugar substitutes are many times sweeter than sugar. It takes a smaller amount of these sugar substitutes to provide the same level of sweetness. Some sugar substitutes are low in calories. Others have little to no calories.

Market Overview:

The latest research study on the global Sugar Substitute market finds that the global Sugar Substitute market reached a value of USD 6888.43 million in 2022. It’s expected that the market will achieve USD 9353.14 million by 2028, exhibiting a CAGR of 5.23% during the forecast period.

Impacts from the long-term

Due to the slow recovery of logistics, sugar substitute relies on long-term orders and port spot to maintain normal production. This has a positive impact on the development of the sugar substitute market. In the long run, sugar substitute must have its own core competitiveness to survive, such as products, channels, marketing, management, technology, cost advantages, etc.

In this new crown epidemic, the lethal power for middle-aged and elderly patients and patients with long-term chronic diseases is particularly great. The whole people are paying great attention to the big health field, and consumer consumption trends are constantly changing. The concepts of reducing sugar, salt, and oil have gradually become the consensus of ordinary Kochi consumers, especially middle-aged and elderly people. Therefore, people may be more inclined to natural sweeteners in the future, so the sugar substitute market has great opportunities for development.

Product labeling and trade issues

International food safety and quality regulatory agencies are formulating more stringent food safety regulations. In addition to food testing and certification, these international regulatory agencies also force manufacturers to comply with food labeling rules and regulations. The governments of most countries are taking steps to implement food labelling laws in their countries. For example, Canada Consumer Product Packaging and Labeling Act and regulations force manufacturers to follow labels in order to provide uniform consumer product labeling and packaging methods and overcome the confusion of different requirements under other regulations. Regulatory agencies are strict on testing, certification, use, production and labeling the regulations pose a challenge to sugar substitute manufacturers.

Fluctuations in the price of raw materials

The price fluctuation of raw materials is the main factor restricting the development of sugar substitute industry. It is expected that the decline in raw material cultivation will affect the growing demand for sugar substitutes, which will lead to tight supply and lead to price increases during the forecast period. Raw materials are emerging crops in many countries. There are many varieties, and the wholesale and retail prices are also very different. Therefore, fluctuations in prices and availability have brought difficulties to processors and the food and beverage industry in production planning and procurement.

Region Overview:

In global comparison, a significant portion of the revenue was generated in Asia Pacific (47.2% in 2021).

Company Overview:

Allulose is one of the major players operating in the Sugar Substitute market, holding a share of 10.33% in 2022.

Tate & Lyle

Tate & Lyle PLC is a provider of ingredients and solutions to the food, beverage and other industries. The Company segments include Specialty Food Ingredients and Bulk Ingredients. The Specialty Food Ingredients segment product categories include dairy, beverage, bakery and convenience.

Ingredion Incorporated

Ingredion is a leading global ingredients solutions company. They make sweeteners, starches, nutrition ingredients and biomaterials that are used by customers in everyday products from foods and beverages to paper and pharmaceuticals.

Segmentation Overview:

By type, Allulose segment accounted for the largest share of market in 2021.

Application Overview:

The market's largest segment by application is the segment Beverages, with a market share of 60.99% in 2021.

Key Companies in the global Sugar Substitute market covered in Chapter 3:

JK Sucralose Inc
ADM
Ingredion Incorporated
Zhejiang Huakang Pharmaceutical
Roquette
Cargill
Tate & Lyle
Ajinomoto
Merisant Company
NutraSweet
International Flavors & Fragrances (IFF)

In Chapter 4 and Chapter 14.2, on the basis of types, the Sugar Substitute market from 2018 to 2029 is primarily split into:

Allulose
Tagatose
Ace.k
Aspartame
Sucralose
Stevia
Maltitol
Erythritol
Xylitol
Monk Fruit
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Sugar Substitute market from 2018 to 2029 covers:

Dairy
Beverages
Confectionary and Bakery
Processed Food
Pharmaceuticals
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)