The global sugar substitutes market is expected to reach USD 19.10
billion by 2024, according to a new report by Grand View Research, Inc. Rising
health conscious population coupled with increasing disposable income and
growing consumption of low calorie and healthier food & beverages are the
key driving forces propelling market growth.
The market is witnessing increasing incorporation of sugar substitutes into
the health & personal care products which is expected to drive demandover
the forecast period. Rising prevalence of health problems including obesity and
diabetes along with fluctuating sugar prices hampering supply is anticipated to
fuel sugar substitutes market growth.
Sugar substitutes are majorly used in the form of sorbitol, tagatose, and
aspartame saccharine in health care, cosmetics, and food & beverage
industry. Gaining importance of artificial sweeteners in the formulation of
confectioneries, bakery, dairy, and frozen foods would have a strong impact on
market growth over the next eight years.
Beverage manufacturers such as Coca-Cola Company have pursued their efforts
on developing calorie-free substitutes, filed for patents to the FDA in
relation withaherb called stevia, which is used to impart sweetening
characteristics to food and drinks. These developments are expected to
facilitate other market players to incorporate these activities into their
R&D portfolio and would open new market avenues over the forecast period.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/sugar-substitutes-market
Further key findings from the report suggest:
- Beverages segment accounted for over 40% of global volume in 2015. This segment is expected to grow on account of growing demand for high-intensity sweeteners in alcoholic beverages, especially from developed economies such as North America and Europe. Additionally, sugar substitutes are gaining popularity as an additive in carbonated soft drinks for taste enhancement and calorie reduction.
- Low-intensity sweeteners segment is expected to grow at a CAGR of over 5.0% from 2016 to 2024. Low-intensity sweeteners are an ideal substitute for sugar due to its superior functional properties. Growing demand from food & beverage industry will positively impact the growth of this segment in the near future.
- Among applications, beverages segment dominated the global sugar substitutes market. However, food segment is anticipated to witness highest CAGR from 2016 to 2024. This is attributed to growing awareness among health conscious population and shifting consumer preferences to low-caloric food products.
- North America market is expected to grow at a CAGR of 2.8% from 2016 to 2024. North America and Europe is expected to continue its dominance jointly in sugar substitutes market through continuing to invest in research and development activities and natural alternatives potential.
- Demand forsugar substitutes in Europe was valued at over USD 2 billion in 2015. Germany is one of the major countries accounting for over 50% of European sugar substitutes market. Germany is Europe's leading location for food & beverage industry and second biggest in terms of medical technology production and medical services provider across the globe.
- Leading market players including DuPont, Cargill, ADM, and Tate & Lyle are channelizing their efforts into the development of new products through significant R&D investments, utilizing advanced technologies to manufacture superior quality and cost-effective products. The key companies are also striving to raise awareness among consumers regarding the ambiguity with the sugar substitutes consumption, while strictly adhering to the international quality standards.
Browse more reports of this category
by Grand View Research: http://www.grandviewresearch.com/industry/nutraceuticals-functional-foods-and-dietary-supplements
Grand View Research has segmented the global sugar substitutes market on the
basis of product, application, and region:
Global sugar substitutes product outlook (Volume, Kilo tons;
Revenue, USD Million, 2013 - 2024)
·
High intensity sweeteners
·
Low intensity sweeteners
·
High fructose syrup
Global sugar substitutes application outlook (Volume, Kilo tons;
Revenue, USD Million, 2013 - 2024)
·
Food
o
Bakery & Confectionery
o
Dairy
o
Others
·
Beverages
·
Others
Global sugar substitutes regional outlook (Volume, Kilotons; Revenue,
USD Million, 2013 - 2024)
·
North America
o
U.S.
·
Europe
o
Germany
·
Asia Pacific
o
China
o
Japan
·
Latin America
o
Brazil
·
Middle East & Africa
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For More Information Visit - http://www.grandviewresearch.com/
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