The increasing incidences of lifestyle disorders have led to a rise in the demand of sugar substitutes. According to a report by Fortune Business Insights, titled, “Sugar Substitutes: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 6.35 Bn in 2018. Fortune Business Insights predicts that the market will rise at a CAGR of 6.3%, and reach US$ 10.27 Bn by the end of 2026.
Browse Complete Report Details:
https://www.fortunebusinessinsights.com/industry-reports/sugar-substitutes-market-100261
Asia Pacific Likely to Witness a Rapid Market Growth Throughout the Forecast Period
Geographically, the Global Sugar Substitutes Market is divided into North America, Latin America, Europe, Asia Pacific, the Middle East and Africa. Amongst these, the developed markets of Western Europe and North America are leading the global sugar substitutes market. In 2018, sugar taxes came into force in several markets.
Some of the Main Key Players Covered in the Report
- Tate & Lyle
- Cargill, Incorporated
- Archer Daniels Midland Company
- Ingredion Incorporated
- Roquette Frères
- The Nutra Sweet Company
- Ajinomoto Co., Inc.
- JK Sucralose Inc.
- DowDuPont
- Pure Circle Limited
This in turn, has initiated reformulation in multiple processed food segments. A number of companies are providing less sugar while maintaining the same texture and taste of actual sugar. Furthermore, Asia Pacific and the Middle East and Africa are anticipated to witness rapid growth of sugar substitute market above the global average.
Reduction in the consumption of sugar is likely to occur due to the fact that the manufacturers are provoked by the global food and beverage industry to not use sugar in beverages, bakery, infant nutrition, and even breakfast cereals. The reduction of sugar has become more like a norm rather than a trend nowadays, as it aligns positively with the purchasing patterns of the consumers.
The largest segment that has been intensively adopting reduction of sugar the most is beverages. Also, governments and other regulatory bodies have been pressurizing the populace to check their sugar consumptions regularly as too much sugar in one’s system is harmful for health.
Natural Sweeteners are Anticipated to Grow Faster than Artificial Sweeteners
Synthetic sugar alternatives, namely, aspartame, acesulfate potassium, and saccharine have been dominating the global sugar substitutes market due to a rise in their demand from developed markets and also due to vigorous consumption patterns. But, natural sweeteners such as monk fruit and stevia are projected to become more popular than the artificial ones. Roquette Frères, a French-based company has already started working on producing natural sweeteners. It has launched Nutriose, a soluble plant-based fibre for food and nutrition which acts as a reliable sugar substitute.
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