According to the latest report by IMARC Group, titled “ Alternative Sweeteners Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global alternative sweeteners market size reached US$ 4.7 Billion in 2022. Alternative sweeteners, also known as sugar substitutes, are substances that offer a sweet taste similar to sugar but with fewer calories or none at all. These additives have gained substantial traction in the food and beverage (F&B) industry, providing consumers with options to enjoy sweetness without the caloric impact of traditional sugars. They cater to health-conscious individuals, diabetics, and those seeking to manage their weight. Alternative sweeteners can be derived from various sources, including natural sources like stevia, monk fruit, and erythritol, as well as synthetic sources like aspartame, saccharin, and sucralose. These sweeteners are widely used in a range of products, from beverages and baked goods to dairy items and condiments, fostering innovation and product diversification in the market.
Global Alternative Sweeteners Market Trends:
The global alternative sweeteners market is experiencing significant growth, impelled by rising global health awareness, prompting consumers to seek healthier dietary choices. Besides this, the escalating prevalence of obesity and diabetes has heightened the need for reduced sugar or sugar-free options, creating a favorable outlook for market expansion. Additionally, the growing emphasis on weight management and wellness has prompted F&B manufacturers to use alternative sweeteners in their products to align with these trends, presenting remunerative opportunities for the market. Concurrent with this, the significant expansion of the fitness-conscious demographic, driven by the increasing influence of social media and celebrity endorsements of healthy lifestyles, has propelled the adoption of products containing alternative sweeteners. Moreover, ongoing technological advancements and extensive research in the field have led to the development of alternative sweeteners with improved taste profiles and stability, addressing concerns about aftertastes often associated with earlier formulations. Furthermore, regulatory factors have played a crucial role in market growth through approvals and funding, which, in turn, has fueled their incorporation into a broader array of consumables. Looking forward, the market value is projected to reach US$ 6.1 Billion by 2028, expanding at a CAGR of 4.49% during 2023-2028.
- On the basis of the product type, the market has been divided into high fructose syrup, high-intensity sweeteners, and low-intensity sweeteners.
- Based on the source, the market is bifurcated into natural and synthetic.
- On the basis of the application, the market has been segregated into food, beverages, and others.
- Based on the region, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Ajinomoto Co. Inc., Archer-Daniels-Midland Company, BENEO (Südzucker AG), Cargill Incorporated, Celanese Corporation, DuPont de Nemours Inc., Heartland Food Products Group, Ingredion Inc., Roquette Frères and Tate & Lyle PLC.
|Base Year of the Analysis
||Product Type, Source, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Ajinomoto Co. Inc., Archer-Daniels-Midland Company, BENEO (Südzucker AG), Cargill Incorporated, Celanese Corporation, DuPont de Nemours Inc., Heartland Food Products Group, Ingredion Inc., Roquette Frères and Tate & Lyle PLC
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