Sugar Substitutes Market is segmented by Source (Natural, Artificial), Type (High Intensity, HFCS), Product (Sucralose, Stevia, Aspartame, Saccharin, Polyols), Form, Application (Beverages, Food, Pharmaceuticals, Other Applications), and Geography.
The Sugar Substitutes Market is projected to grow at a 4.9% CAGR, reaching USD 24.1 billion by 2028.
Substances that are consumed in place of sweeteners such as sugar or any other that contains high levels of sucrose are called Sugar Substitutes. They are considered non-nutritive, noncaloric, artificial sweeteners. Though sugar substitutes contain less food energy as compared to other sweeteners, it can still give the desired taste of sweetness even in small quantities--they too are considered healthier and favorable especially when an individual decides to reduce his calories intake or changing diets to avoid certain illnesses such as obesity, diabetes and metabolic syndrome. Sugar substitutes contain low to zero calorie.
The growth of this market is driven mainly by factors like the increasing demand for basic yet functional food products, increase in the number of cases of patients suffering from obesity and diabetes as well as a surge in the demand for natural sweeteners.
Restraint: Stringent Government Regulations
While sugar substitutes market is flourishing because of the mentioned growth drivers, there is also a restraint in this market--this is the stricter regulations of authorities with regard to manufacturing of sugar substitutes since there are adverse health effects connected with the intake of these.
Impact of COVID-19
Containing the widespread of the virus is a great challenge to all countries because many sectors will have to compromise and be affected negatively. Many industries will have to adapt and adopt the changes that will be imposed upon them by their governments. A massive pull back on the growth of the sugar substitutes market is the disruption of supply chain since manufacturing and distribution by key players or companies are being limited, if not, controlled by governments by imposing lock downs and halting travels across borders.
The sugar substitutes market is facing a challenge wherein the disruption in raw material supply is negatively affecting manufacturers because travel, transport of raw materials, and non-essential trade has been put off in many countries. This in turn affected production, causing fewer volume of product sales.
Key Findings in the Market
Sugar Substitutes Segmentation: segments projected to register having the largest share in the market during forecast period of 2021-2028
In terms of source segment, the market is classified into natural and artificial. The expected highest CAGR during the forecast period goes to the natural segment mainly because there is an increasing consumer awareness on the consumption of food products having natural ingredients. Consumers tend to lean towards healthier food product choices and clean labels. Another growth driver of this segment is the increasing use of stevia and other natural substitute sweeteners by major food and beverage companies.
High Fructose Corn Syrup (HFCS) segment on the other hand is projected to have the highest demand during the forecast period. In 2021, it is also accounted for the largest share in the sugar substitutes market; this growth is mainly attributed to the high solubility of HFCS having the ability of not getting crystallized and remain in solution. It also costs lesser than the other categories of sugar substitutes which further strengthen its market demand.
In 2021, the sucralose segment will be expected to have the largest share with regard to revenue. The driving factors attributing to its growth are, growing usage of sucralose in the food and beverage industry in terms of manufacturing, longer shelf-life, and achieving desired product sweetness using low quantity sucralose. Soon, this segment will dominate the non-nutritive sweeteners in the market.
Solid form segment is also expected to have a larger share in the market due to its availability and non-complex handling, transporting, and storage. It also provides for a better, longer shelf-life having an effective formulation.
Beverage segment is also expected to dominate in the sugar substitute market due an increase in new product development and the launching of sugar substituted-based beverages. Natural health and sports drink are demandable in the market since consumers prefer beverages with an enhanced nutritional value.
North America Dominates
In terms of region segment, sugar substitute market is further classified into: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America however is projected to have the largest share in the market in 2021. This is due to the increase of obese and diabetic population, demand for health and wellness concerns and rise of sugar-free products trend. The Asia Pacific region is also expected to have the fastest growth during the forecast period.
These are the leading market participants which contributed to the growth of sugar substitutes, Tate & Lyle PLC, (U.K.), Roquette Frères (France), Archer Daniels Midland Company (U.S.), Dupont De Nemours, Inc.(U.S.), Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), JK Sucralose Inc. (China), Ajinomoto Co. (Japan), The NutraSweet Co. (U.S.), Südzucker AG (Germany), Guilin Layn Natural Ingredients Corp. (China), Zhucheng Haotian Pharm Co., Ltd. (China), HSWT France SAS (France), and Stevialite Holding (Colombia).
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Source Analysis (Revenue, USD Million, 2021 - 2028)
Type Analysis (Revenue, USD Million, 2021 - 2028)
• High-fructose Corn Syrup (HFCS)
• Low-intensity Sweeteners
• High-intensity Sweeteners
Product Analysis (Revenue, USD Million, 2021 - 2028)
• Non-nutritive Sweeteners
• Luo han guo (Monk Fruit)
• Other Non-nutritive Sweeteners
• Nutritive Sweeteners
• High Fructose Corn Syrup
• Other Nutritive Sweeteners
Form Analysis (Revenue, USD Million, 2021 - 2028)
Application Analysis (Revenue, USD Million, 2021 - 2028)
• Nutrition and Health Supplements
• Other Applications
Region Analysis (Revenue, USD Million, 2020 – 2028)
• United States
• United Kingdom
• South Korea
• Saudi Arabia
• Rest of World
• United States Sugar Substitutes Industry Research Report
• Europe Sugar Substitutes Industry Research Report
• Asia Pacific Sugar Substitutes Industry Research Report
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