Sugar Substitutes Market Worth $19.1 Billion by 2024 | CAGR 4.2%: Grand View Research, Inc.
SAN FRANCISCO, May 31, 2018 /PRNewswire/ --
The global sugar substitutes market size is expected to reach USD 19.1 billion by 2024, according to a new report by Grand View Research, Inc., posting a CAGR of 4.2% during the forecast period. Growing awareness and rising consumer inclination towards low-caloric food and beverages, especially in developing countries are likely to help the market gain significant momentum over the forecast period.
(Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg )
Sugar substitutes are majorly used in the form of sorbitol, tagatose, and aspartame saccharine in the healthcare, cosmetics, and food & beverage industry. Increasing importance of artificial sweeteners in the formulation of confectioneries, bakery, dairy, and frozen foods is estimated to work in favor of the market.
The food segment is expected to achieve the fastest growth over the forecast period, owing to increasing awareness and changing consumer patterns for low-calorie food products. The major market players in the food industry are focused on the development of superior quality products at economical pricing. The above trends are expected to propel demand for sugar substitutes over the forecast period.
Rising prevalence of health problems related to sugar consumption in emerging economies is stimulating the growth of the overall market. Fluctuating supply and pricing of sugar is expected to create opportunities for sugar substitutes.
Sugar substitutes are used in various applications including bakery, confectionery, dairy, frozen foods, beverages, pharmaceuticals, and personal care. Rising health awareness among population and ongoing technological advancements are among the key factors anticipated to trigger the growth of the market.
However, stringent regulatory framework for the production of sugar substitute products and notion among common masses that consumption of sugar substitutes triggers health problems are projected to keep the market from realizing the utmost potential during the forecast period.
Browse full research report with TOC on "Sugar Substitutes Market Size, Share & Trends Analysis Report By Product (High Intensity Sweeteners, Low Intensity Sweeteners, High Fructose Syrup), By Application (Food, Beverages), And Segment Forecasts, 2018 - 2024" at: https://www.grandviewresearch.com/industry-analysis/sugar-substitutes-market
Further Key Findings From the Report Suggest:
- In terms of revenue, the high intensity sweeteners segment is anticipated to reach USD 8.7 billion by 2024, maintain its dominance throughout the forecast period
- In terms of revenue, the low intensity sweeteners segment is projected to expand at a CAGR of 5.1% over the forecast period
- The beverages application segment dominated the market with a share of 43.5% in 2015
- The North America sugar substitutes market is anticipated to exceed 6,891.5 thousand tons by 2024
- Asia Pacific is projected to witness a remarkable growth rate of 7.0% over the forecast period. Key markets in Asia-Pacific include China, India, Japan, and South Korea.
- Some of the key companies present in the market are Tate & Lyle.; Cargill; Incorporated; Archer Daniels Midland Company; Ingredion Incorporated; Roquette; Ajinomoto Co.; Inc.; JK Sucralose Inc.; PureCircle; The NutraSweet Company; and E. I. DuPont De Nemours.
Browse related reports by Grand View Research:
- Omega 3 Market - The global omega 3 market size was valued at USD 2.04 billion in 2016 and is expected to grow at a CAGR of 6.6% over the forecast period.
- Natural Antioxidants Market - Global natural antioxidants market is anticipated to grow on account of its increasing demand in food & beverages, cosmetics, pharmaceutical and animal feed.
- Glucosamine Market - The global glucosamine market size was 29,087.3 tons in 2014. An increasing number of arthritis cases globally coupled with rising obese population is expected to propel product demand over the forecast period.
- Fish Oil Market - Global fish oil market size was USD 2.25 billion in 2014 and is expected to witness substantial growth over the forecast period owing to increasing aquaculture activities.
Grand View Research has segmented the global sugar substitutes market report on the basis of product, application, and region:
- Sugar Substitutes Product Outlook (Volume, Thousand Tons; Revenue, USD Million, 2013-2024)
- High intensity sweeteners
- Low intensity sweeteners
- High fructose syrup
- Sugar Substitutes Application Outlook (Volume, Thousand Tons; Revenue, USD Million, 2013-2024)
- Food
- Beverages
- Others
- Sugar Substitutes Regional Outlook (Volume, Thousand Tons; Revenue, USD Million, 2013-2024)
- North America
- U.S.
- Europe
- Germany
- Asia Pacific
- China
- Japan
- Latin America
- Brazil
- MEA
Explore the BI enabled intuitive market research database, The Grand Library, by Grand View Research, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Share this article