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 Share 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.
Segmentations:
The global sugar alternatives market 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 Alternative Market Trends 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.
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.
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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