Global Sugar Substitutes Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Sugar Substitutes Market Overview

"The Sugar Substitutes Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

The sugar substitute is considered a sweet food additive that tastes like sugar and is an alternative to regular sugar. Artificial sweetener is one type of sugar substitute which contains low calories compared to normal sugar. Sugar substitutes have various end uses such as bakery, confectionery, dairy, beverages, frozen foods, personal care, and pharmaceuticals.

Increasing awareness regarding the consumption of low-calorie food products and healthy food and beverages among individuals across the globe are key factors expected to drive the growth of the global market over the forecast period. In addition, the rising adoption of sugar substitutes in health and personal care industries is another factor expected to fuel the growth of the target market. Moreover, rising awareness about health issues related to sugar consumption and fluctuation in prices during the sugar supply is expected to support the growth of this market shortly.

However, increasing market concentration for sugar substitutes and rising concerns associated with potential side-effects of certain sugar substitutes are major factors expected to restrain the growth of the global sugar substitutes market over the forecast period.

An ongoing trend observed in the target market is an increasing focus on innovative product development, and improved quality of the products by manufacturers, which drives demand for sugar substitutes in various applications. In addition, the development of new, cost-effective, and high-quality substitute is expected to create potential opportunities for players operating in the market over the forecast period.

The market in North America followed by Europe dominates the global sugar substitute market in terms of revenue over the forecast period, owing to increasing demand for sugar substitutes among individuals, technological advancements, and rising awareness of diabetes and obesity in various countries in these regions. The market in Asia Pacific is projected to have highest CAGR over the forecast period, owing to increasing power of spending, rising health consciousness among individuals in various countries in this region.

Global sugar substitutes market segmentation:

Segmentation by product:

• High Intensity Sweeteners (HIS)
• Low Intensity Sweeteners (LIS)
• High Fructose Syrup (HFS)

Segmentation by application:

• Bakery & Confectionery
• Dairy
• Beverages
• Others

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa