Sugar Alternative Market Analysis Revenue, Regional Growth & Competitor with Insights
Market Overview
Sugar alternatives are defined as food additives or ingredients that are used in the food and beverages as a substitute for sugar. A new report on the global sugar alternative market, published by Market Research Future (MRFR), predicts growth for this market during the forecast period.
The esteemed market driving factors for the global sugar alternative market growth are increasing health awareness among consumers and increasing preference for low calorie as well as healthier foods. Many sugar alternatives are safe for consumption by diabetic patients. Hence, the demand for such sugar alternatives can increase. Concerns arising from sugar consumption like tooth decay, dental plaque, and damage to tooth enamel also encourage consumers to switch over to sugar alternatives. Other factors that set the global market growth in motion include increasing acceptance for processed food products, the advancement of product development, rising prevalence of diabetes (especially in the Middle East), technological advancement, and price fluctuation of sugar.
Key Players
Big players in the global sugar alternative market are Ajinomoto Co. Inc. (Japan), Archer Daniels Midland Company (USA), Cargill Incorporated (USA), E. I. du Pont de Nemours and Company (USA), Ingredion Incorporated (USA), Roquette Freres S.A. (France), and Tate & Lyle PLC (UK).
Market Segmentation
The global sugar alternative market share segmentation encompasses application, distribution channel, and type. MRFR’s research on the market highlights many factors of the market in-depth.
The application-based segmentation of this market can cover beverages, cosmetic & personal care, food, and others. The food segment has been sub-segmented into bakery & confectionery, dairy, frozen, and others.
Regarding the distribution channel, the market has been segmented into the store-based distribution channels and non-store-based distribution channels. The store-based distribution channel has been sub-segmented into convenience stores, specialist retailers, supermarkets & hypermarkets, and others.
By type, the market has been segmented into high fructose syrup, high-intensity sweeteners, and low-intensity sweeteners. The high-intensity sweeteners segment has been sub-segmented into Ace-K, Aspartame, Cyclamate, D-Tagatose, Saccharin, Stevia, Sucralose, and others. The low-intensity sweeteners segment has been sub-segmented into Sorbitol, Xylitol, Maltitol, and others.
Regional Segmentation
A geographical outlining of the global sugar alternative market analysis covers North America, Asia Pacific, Europe, and Rest-of-the-World (RoW).
North America has been estimated to continue dominating the global sugar alternative market revenue during the forecast period. This market is strong due to the increasing awareness of healthy food habits, the new product launch by the key players, and the increasing disposable income of consumers. The presence of key market players and a strong economy make the USA the largest market in this region, followed by Canada and Mexico.
Although Europe is expected to control one-quarter of the global market, during the remaining forecast period, Europe is likely to be behind North America as a regional market. The most lucrative markets in Europe are France, Germany, Italy, and the UK. The survey of the remaining countries in Europe featured in this report calculates the inclusion of additional market revenue.
The Asia Pacific region has been anticipated to witness maximum growth during the forecast period. In this region, the market has scope for growth due to the high population, rapid economic growth, and the presence of emerging economies like China and India. China is the biggest market for sugar alternatives market trends in this region. Other major markets in this region are Australia and Singapore.
The RoW segment covers Argentina, Brazil, Saudi Arabia, South Africa, and other uncategorized regions and countries. Argentina and Brazil can become good markets due to their stable economies. In Saudi Arabia, there is scope for market growth due to economic prosperity, but the growth can slow due to various government restrictions on the market. In South Africa, the market is low, but it can grow as the economy of this country is more stable compared to other countries in Africa.
Latest Industry News
• Edmonton-based BioNeutra has launched VitaFiber, a new healthy alternative to sugar in Toronto at Canada’s top health food show.
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. Cordially get in Touch for More Details.
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