Sugar Alternative Market Overview Highlighting Major Drivers, Trends, Growth and Demand Report 2032
Sugar Alternative Market Insights:
According to the research reports by MRFR, the global sugar
alternatives market is anticipated to register substantial growth over the
forecasted timeframe from 2023 to 2032.
Sugar
Alternative Market Size was valued at USD 16.9 billion in 2022. The
Sugar Alternative market industry is projected to grow from USD 17.66 Billion
in 2023 to USD 25.15 billion by 2032, exhibiting a compound annual growth rate
(CAGR) of 4.52% during the forecast period (2023 - 2032).
Sugar alternatives refer to ingredients or food additives
that are used in food and beverages as an alternative to sugar. They offer a
sweet taste like sugar and provide lesser energy than sugar. The sugar
alternatives are available in several forms, such as cubes, powders, etc. the
global sugar alternatives market has registered enormous growth in recent
times. The market's growth is attributed mainly to enhancing the shelf life of
the food products they offer. Furthermore, the factors such as the growing awareness
among consumers across developing regions, increasing preference for
low-calorie and healthier foods, technological advancement, and advancement of
product development are also projected to boost the growth of the sugar
alternatives market over the forecasted era.
Competitive Landscape:
The global sugar alternatives market has an incredibly
competitive landscape. The market has witnessed enormous growth in the number
of product launches in the past few years owing to the rapid growth in demand
for healthy sugar substitutes across the globe. The market has lucrative
opportunities to offer to the players worldwide, encouraging new players to
enter the market. The global sugar alternatives market has leading players such
as Ajinomoto Co., Inc. (Japan), Archer Daniels Midland Company (U.S.), Roquette
Freres S.A. (France), Cargill, Incorporated (U.S.), Ingredion Incorporated
(U.S.), Tate & Lyle PLC (U.K.), E. I. du Pont de Nemours and Company
(U.S.), and several others.
Segmentations:
The global
Sugar Alternative Market Overview has been categorized into
numerous segments based on type, application, distribution channel, and region.
Based on type, the global market for sugar alternatives is
split into low-intensity sweeteners, high-intensity sweeteners, and high
fructose syrup.
The sugar alternatives market is divided into cosmetic &
personal care, food, beverages, and others based on application.
The global sugar alternatives market is split into
non-store-based and store-based based on the distribution channel.
Regional Analysis:
The global sugar alternative market is examined across
several regions, including Asia-Pacific, Europe, North America, and the Rest of
the World (RoW).
According to the MRFR reports, the North American region is
anticipated to attain the top position in the global sugar alternatives market
over the forecasted era ending in 2030. The growth of the regional sugar
alternatives market is mainly being driven by the growing awareness regarding
healthy food habits. Furthermore, the growing disposable income of consumers is
[projected to catalyze the regional market's growth over the assessment era.
Moreover, the regional market has experienced a massive increase in the product
launch in recent years, which is causing an upsurge in the regional market's
growth.
The European region contributed for a share of over 25% in
the net global sugar alternative market's share in 2017. The regional market is
likely to grow substantially over the coming years.
The sugar alternatives market for the Asia-Pacific region is
anticipated to exhibit the highest growth over the forecasted timeframe. The
regional market's growth is attributed to the growing urbanization across the
emerging economies.
Recent Developments:
• October 2021 - a Virginia-based startup with patented
technology the company alleges could allow the mass-market adoption of rare
sugars such as tagatose and allulose, Bonumose, has announced an investment of
over USD27.7 million in the manufacturing and research & development
facilities in a 36,000 sq ft facility in Pantops, Virginia, just east of
Charlottesville.
• October 2021 – Sweegen, a California, United States-based
company, has announced the expansion of its high-intensity sweeteners portfolio
at the beginning of 2022 with the launch of an ultra-sweet tasting protein
found in small amounts in the fruit of a West African plant called oubli,
brazzein, which can be manufactured on a wide scale through microbial
fermentation.
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