Sugar Substitutes Market worth $24.3 billion by 2028 - Exclusive Report by MarketsandMarkets™

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Mar 31, 2023, 04:00 ET

CHICAGO, March 31, 2023 /PRNewswire/ -- The Sugar Substitutes Market is estimated at USD 18.8 billion in 2023 and is projected to reach USD 24.3 billion by 2028 growing at a CAGR of 5.2% from 2023 to 2028 according to a report published by MarketsandMarkets™. Lifestyle disorders such as diabetes, obesity, and heart disease are of increasing concern for society and national governments, as well as globally due to their high mortality rate. There is a distinct correlation between NCDs and a number of dietary factors, including increased consumption of sugar-sweetened foods and beverages. Thus, consumers and food processors are gradually adopting sugar substitutes that provide sweetness and enhance the flavor of food without adding the calories of sugar. Unlike sugar, they do not raise blood sugar levels and may be helpful in treating diabetes and other related metabolic disorders.

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The artificial segment is anticipated to have the largest share among high-intensity sweeteners in 2023

A steady paradigm shift towards the use of low-calorie artificial sweeteners has been brought on by an increase in the prevalence of obesity, diabetes, and metabolic syndrome as well as increased consumer awareness. These artificial sweeteners, also called nonnutritive sweeteners (NNS)/low-calorie sweeteners/intense sweeteners, provide more intense sweetness and no or a few calories per gram and are utilized in beverages, dietary products, medications, and even mouthwashes. The United States Food and Drug Administration has already given the designation of "generally recognized as safe" to six of these additives including aspartame, saccharine, sucralose, neotame, acesulfame-K, and stevia.

The beverage segment is projected to grow at the fastest rate among all the other applications in the sugar substitutes market in 2023

The beverage sector is under pressure to produce products with less sugar or sugar from sources that are thought to be healthier due to increased awareness, research, legislation, and even the popularity of certain diets. Brands are responding to the increased demand for beverages with less sugar by using creativity and an expanded range of sweetener alternatives. Diet Coke by the Coca-Cola Company is sweetened with aspartame. The company also offers Diet Coke sweetened with SPLENDA, which is a well-known sucralose in the market. Furthermore, Minute Maid, a fruit juice brand owned by Coca-Cola Company provides Zero Sugar Lemonade which is sweetened by aspartame and Acesulfame Potassium. Tropicana, a brand owned by PepsiCo, has replaced its Light n' Healthy orange juice beverage with Trop50, a beverage that is naturally sweetened with Reb A stevia extract.

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North America region is witnessing the highest growth rate in the sugar substitutes market

Diet-related disorders are among the main causes of death in the U.S. The standard American diet has a significant amount of added sugars, which may have a negative effect on health. According to the results of the scientific study titled 'Prioritizing noncommunicable diseases in the Americas region in the era of COVID-19' published in 2022, NCDs account for 80.7% of all fatalities in the Americas. The NYC Health Department brought together groups and health authorities from throughout the nation to form the National Salt and Sugar Reduction Initiative (NSSRI) in 2009. The initiative released its goals for reducing sugar across 15 categories of foods and beverages in February 2021. The programme urges food and beverage firms to commit to meeting voluntary reduction targets for salt and sugar. Moreover, research by Nutrisystem and OnePoll in 2022 indicated that over 70% of Americans are more concerned about their physical health post the COVID outbreak. A growing desire for food products with health or environmental benefits to flatten the curve of metabolic illnesses is changing how consumers view food and driving the expansion of the sugar alternatives market.

The key players in the sugar substitutes market include International Flavors & Fragrances Inc. (US), ADM (US), Tate & Lyle (UK), Ingredion (US), and Cargill, Incorporated (US).

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