Sugar Substitutes Market Overview:
The Sugar Substitutes Market was estimated at USD 13.9 billion in 2022. During the projection period (2023 – 2030), the sugar replacements market industry is anticipated to increase from USD 14.82 billion in 2023 to USD 21.82 billion, registering a compound yearly growth rate (CAGR) of 6.66%. The main market factors boosting the rise of the sugar replacements market share are increased demand for functional food products, rising diabetes and obesity incidence, and rising desire for natural sweeteners.
Artificial sweeteners, sometimes known as sugar substitutes, are chemicals derived from plants that improve food flavour and resemble ordinary sugar in both flavour and texture. These goods are primarily made to take the place of or lessen the need for sugar. The most often utilised raw materials in making these are stevia, sucralose, and other sweeteners.
They are viewed as healthier and more sustainable substitutes for traditional sugar. Attractive taste, texture, and mouthfeel become increasingly important as sugar reduction becomes more crucial. To produce sweeteners at a reasonable price, manufacturers use a variety of substances to make up for functional losses brought on by the absence of sugar. Additionally, they are striving to lessen the harsh aftertaste of the items and enhance their overall flavour.
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Significant drivers of the sugar replacements market CAGR include the rising prevalence of obesity-related lifestyle disorders including diabetes and cardiovascular disease (CVDs) and shifting customer preferences for healthier and lower-calorie goods. Due to growing public knowledge of sugar’s harmful health consequences and a rise in obesity incidence globally, sugar is being rapidly replaced with sugar substitutes in the food and beverage industries.
Key Companies in the sugar substitutes market include:
The market segmentation for sugar substitutes is broken down based on types, and it consists of stevia, xylitol, erythritol, saccharin, sucralose, and honey. In 2022, the sucralose market category accounted for about 31-33% of the total market revenue for sugar substitutes.
The market data for sugar alternatives has been divided into three categories: natural, synthetic, and others. The natural segment dominated the market in 2022 and is anticipated to grow at the fastest rate from 2022 to 2030.
Based on distribution channels, the sugar replacements market has been divided into store-based and non-store-based segments. Store-based had the highest segment share in 2022.
The report breaks down the markets by region, covering North America, Europe, Asia-Pacific, and the rest of the world.
In 2022, the North American sugar substitutes market was valued at USD 6.37 billion and is anticipated to rise at a substantial CAGR. The region’s growing need to promote the use of low-calorie foods is one of the main motivators. The popularity of healthy meals and beverages among North American consumers is the main factor projected to fuel the growth of the sugar substitute market. Because of changes in the socioeconomic and demographic landscape, food patterns in the United States have drastically changed. The younger generation enjoys experimenting with novel and innovative products, and rising knowledge of diseases linked to food, along with regulatory changes in the United States, have led to consideration of sugar inclusion in a minimal or needed amount. Additionally, the food and beverage sectors are increasingly replacing natural sugar with sweeteners.
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