What is the global market size of Sugar Substitute Market?

Sugar Substitute Market size was valued at USD 7.5 billion in 2021 and is poised to grow from USD 7.91 billion in 2022 to USD 12.86 billion by 2030, growing at a CAGR of 7.2% in the forecast period (2023-2030).

What is the key market trend for Global Sugar Substitute Market?

With monk fruit and stevia being two highly concentrated plant-based sweeteners that have been given FDA GRAS approval, the market for low-calorie, naturally sweet, plant-based products has seen a rise in demand. Additionally, as consumers become more aware of the harmful effects of artificial substances on their health, there is an increase in the demand for clean label or natural food products on a global scale. Also, the desire for natural sweeteners among food and beverage makers has been sparked by clean labels. About 63% of newly released items made a clean label promise. As a result, industry participants are spending money on research and development to create an effective supply chain from the farm to the finished product on the sugar substitute market.

Sugar Substitute Market Size, Share, Growth Analysis, By Source(Natural, Artificial), By Form(Solid, Liquid), By Application(Beverages, Food, Nutrition, Health Supplements), By Region - Industry Forecast 2024-2031

Report ID: SQSG30C2009 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 91 | Figures: 76

Sugar Substitute Market Regional Insights

During the forecast period, the Asia Pacific sugar substitute market is anticipated to grow at the fastest rate in the global market. Due to consumer lifestyle changes and rising health consciousness, the Asia Pacific region's market for sugar replacements is expanding. With regard to diet diversity, rising urbanisation, and open trade in the food industry, the market in this region is undergoing a significant transition. Additionally, a rise in consumer knowledge of health-related issues, a rise in consumer preference for foods that promote good health, and an increase in income and purchasing power are the main reasons providing growth prospects for sugar replacement makers in the regional market. Due to their significant increases in urbanisation, household incomes, and consumer lifestyle changes, India and China are the two developing nations in the region. The eating habits of consumers in China and India have changed recently.

Sugar Substitute Market Report Snapshots

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Sugar Substitute Market size was valued at USD 7.5 billion in 2019 and is poised to grow from USD 7.91 billion in 2023 to USD 12.86 billion by 2031, growing at a CAGR of 7.2% in the forecast period (2024-2031).

The sugar substitute market players are poised to respond to this demand dynamics by developing innovative sugar substitutes and related products and solutions that are not only minimally processed but also have clean-label characteristics aligned with sustainable consumption practises.`For instance, in Russia, ADM and Aston Foods (Russia) formed a joint venture to produce sweets and starches. This aided the business in increasing its presence in the Russian sugar alternatives market. 'Cargill Incorporated', 'DuPont de Nemours, Inc.', 'Archer Daniels Midland Company', 'Ingredion Incorporated', 'Roquette Freres SA', 'Tate & Lyle PLC', 'PureCircle Ltd', 'Ajinomoto Co., Inc.', 'Kerry Group plc', 'Südzucker AG', 'Nestle S.A.', 'PepsiCo, Inc.', 'Kellogg Company', 'Danone S.A.', 'The Coca-Cola Company', 'Symrise AG', 'Hermes Sweeteners Ltd.', 'Morita Kagaku Kogyo Co., Ltd.', 'Mitsui & Co., Ltd.', 'NutraSweet Company'

Increasing health consciousness of people is boosting the growth of sugar substitute market Consumers are becoming more and more conscious of their dietary needs because of easy access to virtually endless information. As a result, people are increasingly aware of the benefits of choosing healthier foods and drinks. Due to the rising health issues, they are requesting healthier, lower calorie foods and beverages more frequently.

With monk fruit and stevia being two highly concentrated plant-based sweeteners that have been given FDA GRAS approval, the market for low-calorie, naturally sweet, plant-based products has seen a rise in demand. Additionally, as consumers become more aware of the harmful effects of artificial substances on their health, there is an increase in the demand for clean label or natural food products on a scale. Also, the desire for natural sweeteners among food and beverage makers has been sparked by clean labels. About 63% of newly released items made a clean label promise. As a result, industry participants are spending money on research and development to create an effective supply chain from the farm to the finished product on the sugar substitute market.

During the forecast period, the Asia Pacific sugar substitute market is anticipated to grow at the fastest rate in the market. Due to consumer lifestyle changes and rising health consciousness, the Asia Pacific region's market for sugar replacements is expanding. With regard to diet diversity, rising urbanisation, and open trade in the food industry, the market in this region is undergoing a significant transition. Additionally, a rise in consumer knowledge of health-related issues, a rise in consumer preference for foods that promote good health, and an increase in income and purchasing power are the main reasons providing growth prospects for sugar replacement makers in the regional market. Due to their significant increases in urbanisation, household incomes, and consumer lifestyle changes, India and China are the two developing nations in the region. The eating habits of consumers in China and India have changed recently.

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Sugar Substitute Market Size, Share, Growth Analysis, By Source(Natural, Artificial), By Form(Solid, Liquid), By Application(Beverages, Food, Nutrition, Health Supplements), By Region - Industry Forecast 2024-2031

Sugar Substitute Market Regional Insights

Sugar Substitute Market Report Snapshots

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