Sugar Substitutes Market Is Exhibiting A CAGR Of 4.2% During 2013 To 2024: Grand View Research, Inc.

Posted on 2018-08-06 by researchinsights in Food & Beverage // 0 Comments

The global sugar substitutes market size is expected to reach USD 19.1 billion by 2024, according to a new report by Grand View Research, Inc., posting a CAGR of 4.2% during the forecast period. Growing awareness and rising consumer inclination towards low-caloric food and beverages, especially in developing countries are likely to help the market gain significant momentum over the forecast period.

Sugar substitutes are majorly used in the form of sorbitol, tagatose, and aspartame saccharine in the healthcare, cosmetics, and food & beverage industry. Increasing importance of artificial sweeteners in the formulation of confectioneries, bakery, dairy, and frozen foods is estimated to work in favor of the market.

The food segment is expected to achieve the fastest growth over the forecast period, owing to increasing awareness and changing consumer patterns for low-calorie food products. The major market players in the food industry are focused on the development of superior quality products at economical pricing. The above trends are expected to propel demand for sugar substitutes over the forecast period.

Rising prevalence of health problems related to sugar consumption in emerging economies is stimulating the growth of the overall market. Fluctuating supply and pricing of sugar is expected to create opportunities for sugar substitutes.

Sugar substitutes are used in various applications including bakery, confectionery, dairy, frozen foods, beverages, pharmaceuticals, and personal care. Rising health awareness among population and ongoing technological advancements are among the key factors anticipated to trigger the growth of the market.

However, stringent regulatory framework for the production of sugar substitute products and notion among common masses that consumption of sugar substitutes triggers health problems are projected to keep the market from realizing the utmost potential during the forecast period.

To request a sample copy or view summary of this report:
www.grandviewresearch.com/industry-analysis/sugar-substitutes-market

Further key findings from the report suggest:

In terms of revenue, the high intensity sweeteners segment is anticipated to reach USD 8.7 billion by 2024, maintain its dominance throughout the forecast period
In terms of revenue, the low intensity sweeteners segment is projected to expand at a CAGR of 5.1% over the forecast period
The beverages application segment dominated the market with a share of 43.5% in 2015
The North America sugar substitutes market is anticipated to exceed 6,891.5 thousand tons by 2024
Asia Pacific is projected to witness a remarkable growth rate of 7.0% over the forecast period. Key markets in Asia-Pacific include China, India, Japan, and South Korea.
Some of the key companies present in the market are Tate & Lyle.; Cargill; Incorporated; Archer Daniels Midland Company; Ingredion Incorporated; Roquette; Ajinomoto Co.; Inc.; JK Sucralose Inc.; PureCircle; The NutraSweet Company; and E. I. DuPont De Nemours.

Related Report of Nutraceuticals & Functional Foods:

Grand View Research has segmented the global sugar substitutes market report on the basis of product, application, and region:

Sugar Substitutes Product Outlook (Volume, Thousand Tons; Revenue, USD Million, 2013-2024)

High intensity sweeteners
Low intensity sweeteners
High fructose syrup

Sugar Substitutes Application Outlook (Volume, Thousand Tons; Revenue, USD Million, 2013-2024)

Food
Beverages
Others

Sugar Substitutes Regional Outlook (Volume, Thousand Tons; Revenue, USD Million, 2013-2024)

North America
- U.S.
Europe
- Germany
Asia Pacific
- China
- Japan
Latin America
- Brazil
MEA

Access Press Release Of This Research Report by Grand View Research: www.grandviewresearch.com/press-release/global-sugar-substitutes-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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