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Sugar Substitutes Market to Reach $23.1 Billion by 2027- Exclusive Report Covering Pre and Post COVID-19 Market Analysis and Forecasts by Meticulous Research®

Sugar Substitutes Market by Source (Artificial, Natural); Type (High Intensity, HFCS); Product (Sucralose, Aspartame, Saccharin, Neotame, Stevia, Polyols); Form; Application (Food, Beverages, Pharmaceuticals, Animal Feed) - Global Forecasts to 2027

/EIN News/ -- London, March 02, 2021 (GLOBE NEWSWIRE) -- According to a new market research report titled “Sugar Substitutes Market by Source (Artificial, Natural), Type (High Intensity, HFCS), Product (Sucralose, Aspartame, Saccharin, Neotame, Stevia, Polyols), Form, Application (Food, Beverages, Pharmaceuticals, Animal Feed) - Global Forecasts to 2027”, published by Meticulous Research®, the sugar substitutes market is expected to grow at a CAGR of 5% from 2020 to 2027 to reach $23.1 billion by 2027.

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The increasing demand for low-calorie food products is one of the major factors responsible for the growth of the sugar substitutes market. Sugar substitutes include artificial and natural sweeteners, which are applicable in different applications to replace sugar. These substitutes are being increasingly preferred by manufacturers producing food & beverage products, functional foods, dietary supplements, pharmaceutical products, pet food, and personal care products. Rising demand for functional food products, growing prevalence of diabetes and obesity, and the surging demand for natural sweeteners are the key factors responsible for the growth of the sugar substitutes market. However, stringent government regulations and adverse health effects associated with sugar substitutes are expected to restrain the growth of this market to some extent in the near future.

The sugar substitutes market is segmented by source (artificial and natural), by type (high-intensity sweeteners, low-intensity sweeteners, and High-fructose corn syrup);  product [non-nutritive sweeteners (acesulfame-K, neotame, saccharin, sucralose, stevia, cyclamate, luo han guo, and others) and [nutritive sweeteners (aspartame, polyols, and high fructose corn syrup)]; form (solid and liquid); application (food, beverages, nutritional and health supplements, pharmaceuticals, animal feed, and personal care); and geography. The study also evaluates industry competitors and analyzes the market at regional and country levels.

The Impact of COVID-19 on the Sugar Substitutes Market

As a measure to control the spread of COVID-19 and to avoid its associated consequences, governments across the globe have announced partial or complete lockdowns. This has had a significant impact on many industries globally, hitting hard in terms of reduced manufacturing and distributions across the globe.

There is a rapid surge in demand for less sugary and immunity-boosting products, as people are seeking solutions to boost overall health and wellbeing. The COVID-19 pandemic has prompted most health-conscious customers to turn to low-calorie or sugar-free food. Hence, increasing health consciousness and high demand for sugar-reducing solutions among the global population has forced manufacturers and product formulators to opt for sugar substitutes.

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However, the pandemic has led to the adoption of some best-practice models for the food industry, as COVID-19 has highlighted the importance of hygienic and nutritious foods comprising reduced sugar, calories, and fats. This industry has faced unprecedented demand from the consumer, particularly for low-calorie food products. For instance, in 2020, in Europe, two-third of people state they are trying to lower their sugar intake. (Source: New Nutrition Business). Therefore, many companies in the food industry have already started changing their strategies by replacing sugar with sugar substitutes.

Further, dietary supplement sales have increased during the pandemic as dietary supplements help enhance the immune system. During the last week of March 2020, the sales growth for overall dietary supplements skyrocketed to more than 35% in the U.S. Also, according to Glanbia Plc., dietary supplements purchase in retail outlets has increased during April 2020. Further, school and office closures have compelled consumers to opt for at-home breakfast, functional foods, coffee, and lunch, which has driven a significant increase in the demand for sugar-free products.

Thus, growing health and wellness concerns, strong demand for dietary supplements, and increasing demand for sugar-free products are expected to propel the growth of the sugar substitutes market.

Based on source, the artificial sweeteners segment commanded the largest revenue of the overall sugar substitutes market in 2020. However, the natural sweeteners segment is expected to grow at the highest CAGR during the forecast period. The increasing consumer awareness regarding consumption of food products with natural ingredients, growing consumer preference for clean label and healthy products, and increasing use of stevia and other natural sugar substitutes by leading food and beverage companies are some of the major drivers for the growth of the natural sweeteners segment.

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Based on type, the high-intensity sweeteners segment commanded the largest share of the sugar substitutes market in 2020. The large share of this segment is mainly attributed to their low cost compared to other sugar substitutes, a wide range of applications, negligible side effects, low production cost, and ease of use. Also, this segment comprises the most commonly used low-calorie artificial sweeteners, which further supports the largest share of this segment.

Based on type, the sucralose segment dominated the overall non-nutritive sugar substitutes market in 2020. Key factors contributing to the dominant position of this segment are the growing applications of sucralose in food and beverages, high shelf-life, and its requirement in low quantity to achieve desired sweet taste due to its high sweetness.

Based on form, the solid form segment is estimated to command the largest share of the sugar substitutes market. The large share of this segment is mainly attributed to its wide availability and ease of handling, transportation, and storage; better shelf-life; and effective product formulation. The powder’s high concentration and ease of use in various applications due to high mixability also contribute to its growth.

Based on application, the food segment is expected to register the highest CAGR during the forecast period. The growth of this segment is mainly attributed to the increasing consumer preference towards healthy foods, changing consumption patterns, and extensive use of sugar substitutes in different foods, including baked goods, confectionery, and savory snacks.

The report includes an extensive assessment of the key strategic developments by leading market participants in the industry over the past four years. The sugar substitutes market has witnessed several new product launches, partnerships, agreements, and collaborations in recent years. The key players operating in the sugar substitutes market are Tate & Lyle PLC, (U.K.), Roquette Frères (France), Archer Daniels Midland Company (U.S.), DuPont De Nemours, Inc (U.S.), Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), JK Sucralose Inc. (China), Ajinomoto Co. (Japan), The NutraSweet Co. (U.S.), Südzucker AG (Germany), Guilin Layn Natural Ingredients Corp. (China), Zhucheng Haotian Pharm Co., Ltd. (China), HSWT France SAS (France), and Stevialite Holding (Colombia) among others.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/sugar-substitutes-market-5174

Scope of the Report:

Sugar Substitutes Market, by Source             

  • Artificial
  • Natural

Sugar Substitutes Market, by Type

  • High-intensity Sweeteners
  • Low-intensity Sweeteners
  • High-fructose Corn Syrup         

Sugar Substitutes Market, by Product

  • Non-nutritive Sweeteners          
    • Sucralose 
    • Acesulfame-K
    • Neotame
    • Saccharin 
    • Stevia
    • Cyclamate (banned in the United States)
    • Luo han guo (Monk fruit extract)
    • Other Non-nutritive Sweeteners
  • Nutritive Sweeteners
    • Aspartame 
    • Polyols
    • High-fructose Corn Syrup         
    • Other Nutritive Sweeteners

Sugar Substitutes Market, by Form

  • Solid
  • Liquid

Sugar Substitutes Market, by Application

  • Food
    • Bakery
    • Confectionery
    • Savory and Snacks
    • Dairy
    • Others
  • Beverages
  • Nutrition and Health Supplements
  • Pharmaceuticals
  • Animal Feed
  • Personal Care

Sugar Substitutes Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe (RoE)
  • Asia-Pacific (APAC)
    • China
    • India
    • Japan
    • Australia
    • Rest of Asia-Pacific
  • Latin America
  • Middle East & Africa

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Amidst this crisis, Meticulous Research® is continuously assessing the impact of the COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research

Related Reports:

Polyol Sweeteners Market Size by Type (Sorbitol, Xylitol, Erythritol, Lactitol, Mannitol, Maltitol, Isomalt, Hydrogenated Starch Hydrolysate, and Others), by Form (Solid and Liquid), by Applications (Food & Beverages, Pharmaceuticals, Nutraceuticals, Cosmetics & Personal Care, and Others) - Global Forecasts to 2022

https://www.meticulousresearch.com/product/polyol-sweeteners-market-forecast-2022-2997

Sorbitol Market Size by Function (Sweetener, Humectant, Bulking Agent, Flavoring Agent, and Others), by Form (Solid/Powder and Liquid/Syrup), by Application (Food and Beverages, Pharmaceuticals, Cosmetics, and Personal Care, and Others) - Global Forecasts to 2022

https://www.meticulousresearch.com/product/sorbitol-market-global-opportunity-analysis-industry-forecasts-2022-3019

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze and present the critical market data with great attention to detail. With meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:
Mr. Khushal Bombe
Meticulous Research®
Direct Lines: +1-646-781-8004 (North America)
+44-203-868-8738 (Europe)
+91 744-7780008 (Asia-Pacific)
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
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Content Source: https://www.meticulousresearch.com/pressrelease/390/sugar-substitutes-market-2027


Mr. Khushal Bombe
                    Meticulous Research®
                    Direct Lines: +1-646-781-8004 (North America)
                    Email- sales@meticulousresearch.com

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