Sugar Alternative Market Overview
By 2030, the sugar substitute market is anticipated to develop at a CAGR of 4.52% and reach USD 24.19 billion.
Sugar alternatives refer to ingredients or food additives that are used in food and beverages as an alternative to sugar. They offer a sweet taste like sugar and provide less energy than sugar. The sugar alternatives are available in several forms, such as cubes, powders, etc. The global sugar alternatives market research has registered enormous growth in recent times. The market's growth is attributed mainly to enhancing the shelf life of the food products it offers. Furthermore, factors such as growing awareness among consumers across developing regions, increasing preference for low-calorie and healthier foods, technological advancement, and advancement of product development are also projected to boost the growth of the sugar alternatives market over the forecasted era.
The global sugar alternatives market has an incredibly competitive landscape. The market has witnessed enormous growth in the number of product launches in the past few years owing to the rapid growth in demand for healthy sugar substitutes across the globe. The market has lucrative opportunities to offer to the players worldwide, encouraging new players to enter the market. The global sugar alternatives market has leading players such as Ajinomoto Co., Inc. (Japan), Archer Daniels Midland Company (U.S.), Roquette Freres S.A. (France), Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), Tate & Lyle PLC (U.K.), E. I. du Pont de Nemours and Company (U.S.), and several others.
The global market for sugar alternatives has been classified into numerous segments based on type, application, distribution channel, and region.
Based on type, the global market for sugar alternatives is split into low-intensity sweeteners, high-intensity sweeteners, and high fructose syrup.
The sugar alternatives market research is divided into cosmetics and personal care, food, beverages, and others based on application.
The global market for sugar alternatives is split into non-store-based and store-based segments based on the distribution channel.
The global sugar alternative market share is examined across several regions, including Asia-Pacific, Europe, North America, and the Rest of the World (RoW).
According to the MRFR reports, the North American region is anticipated to attain the top position in the global sugar alternatives market over the forecasted period ending in 2030. The growing awareness of healthy eating habits is driving the growth of the regional sugar alternative market. Furthermore, the growing disposable income of consumers is [projected to catalyse the regional market's growth over the assessment period. Moreover, the regional market has experienced a massive increase in product launches in recent years, which is causing an upsurge in the regional market's growth.
In 2017, the European region contributed more than 25% of the net global market share for sugar alternatives. The regional market is likely to grow substantially over the coming years.
The sugar alternatives market for the Asia-Pacific region is anticipated to exhibit the highest growth over the forecasted timeframe. The regional market's growth is attributed to the growing urbanisation across emerging economies.
• October 2021 - a Virginia-based startup with patented technology the company alleges could allow the mass-market adoption of rare sugars such as tagatose and allulose, Bonumose, has announced an investment of over USD27.7 million in the manufacturing and research & development facilities in a 36,000 sq ft facility in Pantops, Virginia, just east of Charlottesville.
• October 2021 – Sweegen, a California, United States-based company, has announced the expansion of its high-intensity sweeteners portfolio at the beginning of 2022 with the launch of an ultra-sweet tasting protein found in small amounts in the fruit of a West African plant called oubli, brazzein, which can be manufactured on a wide scale through microbial fermentation.
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