The global sugar substitutes market reached a value of US$ 15 Billion in 2018. The market is further expected to reach US$ 19 Billion by 2024, expanding at a CAGR of more than 4% during 2019-2024. Sugar substitutes are food additives that are used in place of table sugar (sucrose) to sweeten and enhance the flavor of edibles. As their intake does not immediately increase blood sugar, these substitutes are extensively used in the preparation of sugar-free foods and beverages like baked goods, candies, soft drinks, canned foods, dairy products, powdered drink mixes, puddings and jellies. Some of the popular sugar substitutes available in the market include D-tagatose, sorbitol, xylitol, stevia, maltitol, acesulfame and neotame.
Global Sugar Substitutes Market Drivers:
Breakup by Product Type:
Based on types, high-intensity sweeteners are the most popular product type as they provide negligible energy and a more satisfactory texture in comparison with other sugar substitute products. Some of the common high-intensity sweeteners are stevia, aspartame, cyclamate, sucralose and saccharin.
Breakup by Application:
Sugar substitutes are commonly used in the production of beverages like energy drinks, instant teas, soft drinks, juices and diet sodas. Fast-paced lifestyle of the working population has increased the consumption of convenient and ready-to-drink beverages, thereby providing a thrust to the market growth.
Breakup by Origin:
Based on the market segmentation by origin, artificial sugar substitutes hold the largest market share as they are widely used in the preparation of processed foods like baked goods, canned food items, jams, jellies, puddings and candies.
On the geographical front, North America enjoys the leading position in the market. Hectic lifestyles and high expendable incomes have escalated the obesity rates in the region. Increasing awareness of the benefits of sugar substitutes has further contributed to the growth of the market.
The competitive landscape of the market has been examined in the report with detailed profiles of the key players. Some of the major market players include:
Key Questions Answered in This Report:
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