Beverage Segment Holds the Largest Share in Sugar Substitutes Market

Posted on 2021-09-29 by MarketsandMarkets in Food & Beverage // 0 Comments

According to MarketsandMarkets “Sugar Substitutes Market size is estimated to be valued at USD 16.5 billion in 2020 and projected to reach USD 20.6 billion by 2025, recording a CAGR of 4.5% during the forecast period. The global sugar substitute industry has witnessed growing trends in the past years. The growth of this industry is majorly driven by an increase in health consciousness among consumers to encourage the demand for healthier food choices, an increase in demand for natural sweeteners due to the rise in consumer inclination toward natural products, and growing demand for sugar substitutes in various applications in the food & beverage industry.

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Based on application, the sugar substitutes market is dominated by the beverage segment. Majority of the beverage products contain sugar or are sugar-based. In addition, beverages are the most commonly consumed products across the globe. Beverages, such as juices, canned drinks, coffee, aerated drinks, and others, are majorly produced using added sugars for offering an improved taste and mouthfeel.

However, this is a major factor that has led to a high-calorie intake among individuals, which has further led to a rise in obesity and other related diseases. As obesity rates have witnessed a drastic rise, individuals are cutting down on sugar intake for heart health and weight management. Consumers are also eliminating sugar for controlling diabetes and are switching to lower-calorie versions of beverages.

Sugar substitutes are essential for providing and expanding beverage choices to control carbohydrate, caloric, or specific sugar intake. In addition, sugar substitutes are currently preferred in beverages, such as diet carbonated drinks, flavored water, and other beverages.

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Key players in this market include DuPont (US), ADM (US), Tate & Lyle (UK), Ingredion Incorporated (US), Cargill Incorporated (US), Roquette Frères (France), PureCircle Ltd (US), MacAndrews & Forbes Holdings Inc. (US), JK Sucralose Inc. (China), and Ajinomoto Co. Inc. (Japan).

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