Global Sugar Substitutes Market, By Type (High-Fructose Syrup, High-Intensity Sweeteners and Low-Intensity Sweeteners) By Composition (High-Intensity Sweeteners and Low-Intensity Sweeteners), By Application (Beverages, Health & Personal Care and food)
Market Analysis: Global Sugar Substitutes Market
The Global Sugar Substitutes Market is expected to reach USD 21.02 billion by 2025, from USD 14.22 billion in 2017 growing at a CAGR of 4.2% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2015 & 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Market Definition: Global Sugar Substitutes Market
Sugar substitutes are sweet food additives taste like sugar. These substitutes are characterized by having significantly lower calories than compared to sugar. Sugar substitutes are incorporated in various foods beverages, confectionary, baked products, dairy products, frozen food, and health and personal care products. The increasing demand for healthy and low-calorie food products contributes to the growth of the market. According to an article published by IBEF the personal care market is expected to grow with the market value of USD 20 billion by the year 2025. It also reported that about 62 % of young consumers in big cities prefer beauty and grooming products online whereas, 45 % of consumers tend to buy cosmetic, apparel items from any shop of their convenience which has also affected the growth of the market in health & personal care sector. The major players in the sugar substitutes market are making various developments such as launch of new products, opening new research and development centres, and new plants for contributing to the growth of the sugar substitutes market. Tate & Lyle PLC (‘Tate & Lyle’), a leading global provider of speciality food ingredients and solutions and also major player of the market has launched new product under the brand name DOLCIA PRIMA Allulose, which is a low-calorie rare sugar that provides the sensory experience of sugar without the calories.
Major Market Drivers and Restraints:
- Consumer Preference for low-calorie and healthier foods
- Increasing health problems due to consumption of sugar
- Increasing demand for natural sweeteners due to consumer inclination towards natural products
- Demand from food and beverages industries
- Fluctuations in price and supply of sugar creating opportunities for sugar substitutes
- Adherence to international quality standards and regulations for sugar substitute products
- Ambiguity whether consumption of sugar substitutes causes health problems or not
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Market Segmentation: Global Sugar Substitutes Market
- The global sugar substitutes market is segmented based on composition, type, application and geographical segments.
- Based on type, the global sugar substitutes market is segmented into high-fructose syrup, high-intensity sweeteners and low-intensity sweeteners.
- On the basis of composition, the global sugar substitutes market is classified into high-intensity sweeteners and low-intensity sweeteners. The high-intensity sweeteners is sub segmented into stevia, aspertame, cyclamate, sucralose, saccharin, ace-k and other his. The low-intensity sweeteners.is sub segmented into d-tagtose, sorbitol, maltitol, xylitol, mannitol, eythritol and other LIS
- On the basis of application, the global sugar substitutes market is classified into beverages, health & personal car and food. The food segment is further sub segmented into food application, by product, confectionery, bakery, dairy & frozen foods and others.
- On the basis of function, the global sugar substitutes market is classified into thickener, stabilizer, gelling agent, fat replacer, coating material and other.
- Based on geography, the global sugar substitutes market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Competitive Analysis: Global Sugar Substitutes Market
The global sugar substitutes market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of sugar substitutes market for global, Europe, North America, Asia Pacific and South America.
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