Sugar Substitutes Market To Witness A Significant Growth Of USD 10.42 Billion By 2030

 San Francisco, 27 Dec 2022: The Report Sugar Substitutes Market Size, Share & Trends Analysis Report By Type (High- intensity, Low-intensity Sweeteners), By Application (Food, Health & Personal Care), By Region (EU, APAC, MEA), And Segment Forecasts, 2022 - 2030

The global sugar substitutes market size is expected to reach USD 10.42 billion by 2030, registering a CAGR of 5.9% from 2022 to 2030, according to a new report by Grand View Research, Inc. Growing consumer inclination toward low-calorie foods and beverages, particularly in developing countries, are expected to propel the industry growth during the forecast period. In addition, increasing demand for immunity boosters and less-sugary products owing to the rising consumer awareness to improve their general health and well-being is expected to accelerate the industry growth. COVID-19 had forced governments to impose lockdowns, due to which more than half of people's physical activity had been reduced.

Moreover, eating has also become more common when people are binge-watching television shows at home, and in response to various types of mental stress. Individuals are increasingly concerned regarding their health as a consequence of COVID-19 casualties; this factor influenced them to seek low-calorie sugar food items. Sugar substitutes, such as tagatose, aspartame saccharine, and sorbitol are widely used in the food & beverage, healthcare, and cosmetics industries. The rising use of sugar substitutes in frozen foods, confectioneries, bakeries, and dairy is expected to benefit the industry. The increased incidences of health problems associated with sugar intake, such as diabetes and obesity, in developing markets are driving industry growth.

Furthermore, sugar substitutes are expected to benefit from fluctuating supply as well as the pricing of sugar. The market for low-calorie, plant-based, and naturally sweet ingredients has grown, with stevia and monk fruit being high-intensity plant-based sweeteners certified by FDA GRAS. Furthermore, global demand for natural and clean-label food products is increasing as consumers have become more aware of the adverse health consequences of using artificial ingredients. According to a report by the Food & Health Survey, approximately 74% of U.S. consumers avoided sugar in their diets in 2020. In addition, the number of new product innovations emphasizing plant-based products to combat rising obesity is increasing significantly.

Access Research Report of Sugar Substitutes Market @ https://www.grandviewresearch.com/industry-analysis/sugar-substitutes-market

Sugar Substitutes Market Report Highlights

• The high-intensity sweeteners segment held the largest revenue share in 2021 as only small quantities are required to produce the equivalent sweetness as regular sugar
• The beverage application segment dominated the global industry in 2021 due to the rising demand for low-calorie sports and health drinks among consumers
• Asia Pacific is estimated to register the second-fastest growth rate during the forecast period owing to the rising number of diabetic patients in developing countries like India and China
• Europe is anticipated to witness a rapid growth rate during the forecast period owing to the presence of numerous businesses that produce sugar substitutes, including Roquette Freres, Tate & Lyle, and E. I. DuPont De Nemours, among others
• The region is also seeing a rise in the use of sugar substitutes due to the rising number of diabetic patients
• According to the World Health Organization (WHO), around 60 million people in the European Region, or 9.6% of women and 10.3% of men aged 25 years and over, have diabetes

List of Key Players in Sugar Substitutes Market

• Tate & Lyle
• Cargill, Inc.
• Archer Daniels Midland Company (ADM)
• Ingredion Inc.
• Roquette Freres
• Ajinomoto Co.
• JK Sucralose Inc.
• The NutraSweet Company
• PureCircle
• I. DuPont De Nemours

Access Press Release of Sugar Substitutes Market @ https://www.grandviewresearch.com/press-release/global-sugar-substitutes-market