Sugar Substitutes Market to Record Steady Growth by 2025
The global 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%
According to MarketsandMarkets "Sugar Substitutes Market by Type (High Fructose Syrup, High-Intensity Sweetener, Low-Intensity Sweetener), Composition, Application (Beverages, Food Products, and Health & Personal Care Products), and Region - Global Forecast to 2025", the global 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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Restraints: Adherence to international quality standards and regulations for sugar substitutes products
International bodies such as the National Food Safety and Quality Service (SENASA), Canadian Food Inspection Agency (CFIA), US Food and Drug Administration (FDA), World Health Organization (WHO), and Committee on the Environment, Public Health and Food Safety (EU) are associated with food safety regulations. These organizations have control over the usage of different chemicals and materials used in food processing, directly or indirectly. Sugar substitute products are subjected to rigorous health and safety checks. Various studies have been conducted by regulatory bodies for measuring and assessing the impact of these products on humans. Based on the results, products are classified, and the daily intake allowance (DIA) has been set. Standards set by agencies for the classification and usage levels differ with respective authoritative bodies and pose a serious problem to companies for streamlining product developments. European laws are stringent with artificial sweeteners, wherein the US regulations favor the introduction of novel sweeteners irrespective of the origin. Alitame, neotame, and stevioside are some of the sweeteners which are not currently permitted in Europe. Many stringent regulations on the processing, usage, consumption, and labeling of sugar substitutes cause difficulties for market growth. These regulations for the use of sweeteners as a food ingredient limit the growth of the sweeteners industry globally, especially in European countries.
By composition, the aspertame in high-intensity sweeteners segment is projected to account for the largest share in the sugar substitutes market during the forecast period
The aspartame in high-intensity sweeteners segment accounted for a major share in the global sugar substitutes market, in 2019, in terms of value. Aspartame is approved by the FDA for using it in food products as a nutritive sweetener. Aspartame was approved by the FDA in 1981 for uses, under certain conditions, as a tabletop sweetener, in cold breakfast cereals, chewing gum, and dry bases for certain foods, such as instant coffee, beverages, tea, puddings, gelatins, fillings, toppings, and dairy products. The FDA approved the use of aspartame in carbonated beverage syrup bases and carbonated beverages in 1983. In addition, the FDA approved aspartame for use as a general-purpose sweetener in 1996. Aspartame is one of the most comprehensively studied substances in the human food supply and has more than 100 studies supporting its safety.
North America is estimated to account for the largest share in the sugar substitutes market, in terms of value, in 2020. Key factors influencing the share of the region include the high demand for sugar replacers and sugar substitutes, the presence of major players in these regions, and an increase in consumption of processed sugar substitutes due to a high awareness of sugar substitute benefits. The market in the Asia Pacific region is witnessing a drastic transformation regarding diet diversification, rapid urbanization, and liberal trade policies in the food sector. Furthermore, a rise in consumer awareness about health issues and an increase in inclination of consumers toward health-benefiting food products are the major factors offering growth opportunities for sugar substitute manufacturers in the Asia Pacific region.
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Asia Pacific is projected to grow at the highest growth rate during the forecast period
The Asia Pacific market is projected to grow at the fastest rate in the sugar substitutes market during the forecast period. The sugar substitutes market in the Asia Pacific region is growing due to the change in the lifestyle of customers and the increase in health consciousness among them. The market in this region is witnessing a drastic transformation regarding diet diversification, rapid urbanization, and liberal trade policies in the food sector. Furthermore, a rise in consumer awareness about health issues, an increase in inclination of consumers toward health-benefiting food products, and a surge in income and purchasing power are the major factors offering growth opportunities for sugar substitute manufacturers in the market in the region. The developing countries in the region are India and China due to the increase in urbanization, the rapid rise in household incomes, and the change in lifestyles of consumers in the country. Consumers in India and China have been witnessing a change in their eating habits.
Key Market Players:
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).