Sugar Substitutes Market Size | Industry Forecast
Technavio research projects the sugar substitutes market to grow by $ 2.67 billion, accelerating at a CAGR of over 3% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Sugar Substitutes Market: Key Market Driver
One of the primary factors that will trigger the growth of the sugar substitutes market size is the growing demand for natural high intensity sweeteners. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
Sugar Substitutes Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. American Crystal Sugar Co., Archer Daniels Midland Co., Cargill Inc., Cumberland Packing Corp., DOMINO FOODS Inc., GLG Life Tech Corp., Ingredion Inc., Merisant Co., PureCircle Ltd., and Tate and Lyle Plc are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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The Global Sugar Substitutes Market is expected to grow by $ 2.67 billion, accelerating at a CAGR of over 3% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. View our Free Sample Report
Sugar Substitutes Market: Segmentation by Product
The US-FDA has approved the usage of the following sweeteners: artificial high-intensity sweeteners (aspartame, sucralose, Ace-K, cyclamate, neotame, and saccharin) and natural high-intensity sweeteners (stevia). During the forecast period, the applications of stevia and other natural sweeteners are expected to increase significantly across a variety of food products as they are nutritive and safe to consume. This report provides an accurate prediction of the contribution of all the segments to the growth of the sugar substitutes market size.
The rising demand for natural high-intensity sweeteners is one of the major factors that will drive the global sugar substitutes market growth during the forecast period. Natural high-intensity sweeteners such as stevia have gained popularity around the world. It is also used in numerous drugs and syrups, particularly in diabetes medication, weight management products, and nutritional powders. Stevia pharma manufacturers are also developing a wide range of stevia products and the consumer base for pharmaceutical products that contain stevia is likely to rise in the coming years.
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