Sugar Alternative Market Share with Investment of Gross Margin, and Regional Demand till 2032
Sugar Alternative Market Scope
The Sugar Alternative market industry is projected to
grow USD 25.15 billion by 2032, exhibiting a compound annual growth rate (CAGR)
of 4.52% during the forecast period (2023 - 2032).
Eminent Vendors
Eminent companies in the global Sugar alternative market
include E. I. du Pont de Nemours and Company (U.S.), Ingredion Incorporated
(U.S.), Tate & Lyle PLC (U.K.), Cargill, Incorporated (U.S.), Ajinomoto
Co., Inc. (Japan), Archer Daniels Midland Company (U.S.), Roquette Freres S.A.
(France), and more.
Segmental Review
A sugar
alternative market research report has been considered for type,
application, and distribution channel.
Types of sugar alternatives include high-intensity sweeteners,
low-intensity sweeteners, and high-fructose syrup. High-intensity sweeteners
can be divided into Aspertame, Stevia, Sucralose, Cyclamate, Ace-K, Saccharin,
and others. In the high-intensity sweeteners segment, the highest growth is
noted for aspartame, which is used extensively as a low-calorie artificial
sweetener. It is roughly 200 times sweeter than sugar and is particularly
utilised as a food additive in sweets, desserts, drinks, chewing gum, and
weight-control products.
Sugar alternatives find applications in beverages, cosmetics
and personal care, food, and others. The food segment caters to frozen, bakery
& confectionery, dairy, and others. Sugar alternatives are mostly added to
beverages, like flavoured water and diet carbonated drinks, to name a few.
Stevia is one of the most popular sugar alternatives that are used in
beverages. It has low calorie content and no glycemic index and is therefore
used in numerous forms of energy drinks, ready-to-drink teas, soft drinks,
fruit juices, and flavoured water.
Sugar alternatives are sold through distribution channels
that are either store-based or not. The store-based distribution channels are
specialist retailers, convenience stores, supermarkets and hypermarkets, and
others.
Growth Boosters and Impediments
Easy consumer access to expansive information has expedited
the awareness levels regarding different nutrition. This has led to higher
consciousness and has prompted consumers to make healthier choices when it
comes to drinks and food. They are increasingly opting for low-calorie and
healthier food and beverages in line with the soaring health issues. In 2018,
reports confirm that the prevalence of obesity was close to 40% among
individuals aged between 20 and 39 years, while 45.8% were middle-aged. The
surge in these health issues has resulted in a rise in the demand for
low-calorie and healthy food products among consumers.
Sugar alternatives are consumed by individuals interesting
in maintaining their weight while these are also preferred by diabetic
patients. Artificial sweeteners do not have carbohydrates, and therefore, do
not elevate the blood sugar levels. The most popular and preferred sugar
alternative is Stevia, which is much sweeter compared to sugar and contains no
calories.
Most of the leading brands are channelizing their focus on
developing new products backed by vigorous R&D activities and use of the
latest manufacturing technologies. The result is production of sugar
alternatives of better quality that are cost-effective. These brands also work
on boosting the consumer awareness about the toxic health effects of sugar,
while developing products that strictly adhere to the global quality standards.
Regional Insight
Europe, Asia Pacific/APAC, North America, as well as
RoW/rest of the world are the sugar
alternatives market share.
North America is all set to procure the leading position in
the coming years, given the significant awareness level among consumers about
different food products in line with growing focus on health. Prevalence of
healthy diets and the high purchasing capacity of the consumers in the region
also add to the market’s strength. Companies in the region are mostly focused
on developing beverages and foods that cater to the customers’ dietary and
weight loss goals, which helps bolster the sales.
Asia Pacific has been witnessing dramatic changes in terms
of diet diversification, relaxation of trade policies within the food industry
and rapid urbanization. Consumer’ rising interest in health maintenance and the
subsequent shift towards food items with health benefits should present major
opportunities to the top sugar alternative manufacturers in the region. The
disconcerting surge in cases of obesity and diabetes, especially in India, will
foster the adoption of sugar alternatives in the following years.
Recent News
April 2021
Manus Bio Inc., a reputed US developer of sustainable
natural ingredients, has launched NutraSweet Natural, which is a plant-based
sweetener that as no calories and infuses sweetness to food products. Manus Bio
has been working on facilitating calorie reduction via their products that are
based on a special green technology that imbibe natural sweetness-inducing
ingredients while also reducing environmental footprint.
NOTE: Our Team of Researchers are Studying Covid19 and
its Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
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