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Global Sugar Substitutes Market to reach USD 12.20 billion by the end of 2029

Global Sugar Substitutes Market Size study & Forecast, by Type (High-fructose syrup, High-intensity sweeteners, Low-intensity sweeteners), by Composition (High-intensity sweeteners (HIS), Low-intensity sweeteners), by Application (Food products, Beverages, Health & personal care) and Regional Analysis, 2022-2029

Product Code: OIRFB-86186858
Publish Date: 25-01-2023
Page: 200

Global Sugar Substitutes Market is valued at approximately USD 7.50 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.20 % over the forecast period 2022-2029. Sugar substitutes are plant-based compounds called artificial sweeteners that enhance the flavor of food and possess similar flavor and texture as conventional sugar. These products were primarily developed to replace or lessen dependence on sugar. Stevia, sucralose, and other ingredients are some of the most often used raw materials for manufacturing these products. The key factors driving the market growth are rising obesity and diabetic populations, growing health consciousness among consumers, and rising demand for natural sweeteners due to the increasing consumer inclination toward natural products, which create a lucrative demand for the market.

The sugar substitutes like stevia, sorbitol, aspartame, neotame, maltitol, acesulfame, and D-tagatose have less sugar levels and do not raise blood sugar. Thus rising diabetes and obesity are driving the demand for sugar substitute market. According to World Obesity Organization, in India, there has been a rise in the prevalence of overweight; in the year 2019-2020, 18.7% of adults, 20% of men and 17.2% of women were overweight which increased to 23%, 22%, and 24% respectively by 2020-21. Also, according to Global Wellness Institute, the healthy eating, weight loss & nutrition section in wellness sectors grew from USD 912 billion in 2019 to USD 946 billion in 2020. As a result, growing health-conscious consumers will create lucrative demand for the market during the forecast period. Additionally, rising investments in R&D activities by manufacturers to develop newer and enhanced products would create a lucrative opportunity for the market during the forecast period. However, the ambiguity related to health problems due to the consumption of sugar substitutes stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Sugar Substitutes Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the dominating region across the world in terms of market share, owing to the presence of major players, rising health consciousness and growing awareness of low-calorie food consumption in the region. Whereas, Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period. Factors such as rising diabetes and obesity and growing health consciousness among consumers would create lucrative growth prospects for the Sugar Substitutes market across Asia Pacific region.

Major market players included in this report are:
Cargill Incorporated (U.S.)
Tale & Lyle (U.K.)
ADM (U.S.)
Ingredion Incorporated (U.S.)
Roquette Freres (France)
Real Stevia Company (Sweden)
Pyure Brands LLC (U.S.)
JK Sucralose Inc. (China)
DuPont (U.S.)
Ajinomoto Co. Inc. (Japan)
Recent Developments in the Market:
 In 2021, Plant-based sweetener manufacturer B.T. Sweets launched a plant-based sweetener comprised of soluble fibres, monk fruit, and specific botanicals.
 In 2022, Swerve, a U.S. based producer of plant-based sweeteners, announced its plans to launch customised sugar substitute products and packets for U.S. consumers looking for baking products.

Global Sugar Substitutes Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Composition, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
High-fructose syrup
High-intensity sweeteners
Low-intensity sweeteners

By Composition:
High-intensity sweeteners (HIS)
Low-intensity sweeteners

By Application:
Food products
Health & personal care

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Sugar Substitutes Market, by Region, 2019-2029 (USD Billion)
1.2.2. Sugar Substitutes Market, by Type, 2019-2029 (USD Billion)
1.2.3. Sugar Substitutes Market, by Composition, 2019-2029 (USD Billion)
1.2.4. Sugar Substitutes Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Sugar Substitutes Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Sugar Substitutes Market Dynamics
3.1. Sugar Substitutes Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Rising obesity and diabetic populations Growing health consciousness among consumers
3.1.2. Market Challenges Ambiguity related to health problems due to the consumption of sugar substitutes
3.1.3. Market Opportunities Rising investments in R&D activities
Chapter 4. Global Sugar Substitutes Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Sugar Substitutes Market, by Type
6.1. Market Snapshot
6.2. Global Sugar Substitutes Market by Type, Performance – Potential Analysis
6.3. Global Sugar Substitutes Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
6.4. Sugar Substitutes Market, Sub Segment Analysis
6.4.1. High-fructose syrup
6.4.2. High-intensity sweeteners
6.4.3. Low-intensity sweeteners
Chapter 7. Global Sugar Substitutes Market, by Composition
7.1. Market Snapshot
7.2. Global Sugar Substitutes Market by Composition, Performance – Potential Analysis
7.3. Global Sugar Substitutes Market Estimates & Forecasts by Composition 2019-2029 (USD Billion)
7.4. Sugar Substitutes Market, Sub Segment Analysis
7.4.1. High-intensity sweeteners (HIS)
7.4.2. Low-intensity sweeteners
Chapter 8. Global Sugar Substitutes Market, by Application
8.1. Market Snapshot
8.2. Global Sugar Substitutes Market by Application, Performance – Potential Analysis
8.3. Global Sugar Substitutes Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
8.4. Sugar Substitutes Market, Sub Segment Analysis
8.4.1. Food products
8.4.2. Beverages
8.4.3. Health & personal care
Chapter 9. Global Sugar Substitutes Market, Regional Analysis
9.1. Sugar Substitutes Market, Regional Market Snapshot
9.2. North America Sugar Substitutes Market
9.2.1. U.S. Sugar Substitutes Market Type breakdown estimates & forecasts, 2019-2029 Composition breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029
9.2.2. Canada Sugar Substitutes Market
9.3. Europe Sugar Substitutes Market Snapshot
9.3.1. U.K. Sugar Substitutes Market
9.3.2. Germany Sugar Substitutes Market
9.3.3. France Sugar Substitutes Market
9.3.4. Spain Sugar Substitutes Market
9.3.5. Italy Sugar Substitutes Market
9.3.6. Rest of Europe Sugar Substitutes Market
9.4. Asia-Pacific Sugar Substitutes Market Snapshot
9.4.1. China Sugar Substitutes Market
9.4.2. India Sugar Substitutes Market
9.4.3. Japan Sugar Substitutes Market
9.4.4. Australia Sugar Substitutes Market
9.4.5. South Korea Sugar Substitutes Market
9.4.6. Rest of Asia Pacific Sugar Substitutes Market
9.5. Latin America Sugar Substitutes Market Snapshot
9.5.1. Brazil Sugar Substitutes Market
9.5.2. Mexico Sugar Substitutes Market
9.5.3. Rest of Latin America Sugar Substitutes Market
9.6. Rest of The World Sugar Substitutes Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Cargill Incorporated (U.S.) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.2.2. Tale & Lyle (U.K.)
10.2.3. ADM (U.S.)
10.2.4. Ingredion Incorporated (U.S.)
10.2.5. Roquette Freres (France)
10.2.6. Real Stevia Company (Sweden)
10.2.7. Pyure Brands LLC (U.S.)
10.2.8. JK Sucralose Inc. (China)
10.2.9. DuPont (U.S.)
10.2.10. Ajinomoto Co. Inc. (Japan)
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

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