19th August 2019 – The global Sugar
Substitutes Market is predicted to reach USD 19.1 billion in the
forecast period owing to the growing customer’s preference towards the
low-calorie foodstuffs. Sugar Substitutes are the chemical or plant-based
constituents that sweeten the flavor of drinks and foods. They are also known
as the “artificial sweeteners” or “non-caloric sweeteners” which are used as an
ingredient in processed foods and drinks or as a tabletop sweetener like
sweetening a glass of ice tea.
The sugar substitutes are sweeter than
sugar, therefore small quantity of these substitutes offer greater level of
sweetness. Most Sugar Substitutes are less in calorie or contain no calorie.
The growing demand for low-calorie foodstuffs are projected to boost the sugar
substitutes market significantly by 2024 with a CAGR of 4.2%. The demand for
sugar substitutes is spurring across the globe. Especially in the beverage
industry where the sweetness intensity varies from drink to drinks, sugar
substitutes are extensively used. The market growth is driven by the factors
like quality of the sugar substitutes, the mixture and content in processing
foods, the standards enforced by local and international governments.
One of the major drivers of the market
is the rise in number of ventures pertaining to food industry. This is because
the food industry is the main source of taste and has wide applications in
medications too. The rising cost of raw material and the growing supply chain
prices are expected to restrain the market in future. However, consumption of
high content sugar foods leading to diabetes, heart disease and obesity is also
increasing. Currently, people are adopting sugar-free products as a preventive
measure for the growing health problems. Most health issues are found among
people above 45 years of age and are expected to fuel the sugar substitute
market in the coming years.
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Stevia is a unique food ingredient,
obtained from plants is best known for restricting the calories in the body. It
is gaining demand in the European countries since it can be added to beverages
as a sweetener in combination with sucrose. Strict safety standards is a major
challenge for the sugar substitutes players. They are required to receive
approvals from authorities like Foods Standard Agency before the launch of the
product. The beverages and foods that contain artificial sweeteners must
essentially follow the guidelines imposed by the regulatory bodies concerning
the quantity sweeteners to be used, labeling, marketing and the daily average
intake of sweeteners.
The sugar substitutes industry is
segmented especially due to the existing of numerous large and small players
that strengthen the competition for factors like quality, price, innovation,
reputation, packaging, distribution and marketing channels. Such a penetrating
competition among the players along with speedy technological variations is a
key challenge that affects the operations of the players in the sugar
substitutes industry. To stand successfully in such a competitive market, the
vendors must distinguish themselves through USP (Unique Selling Proposition).
The sugar substitutes market is
categorized on the grounds of product type, composition, application and
geography. On the grounds of product type, the market is divided into
High-intensity sweeteners, Low-intensity sweeteners and High-fructose syrups.
On the grounds of composition, the industry is divided into High-intensity
sweeteners and Low-intensity sweeteners. High-intensity sweeteners can be
further classified as Stevia, As per tame, Cyclamate, Sucralose, Saccharin,
Ace-K, and others. Low-intensity sweeteners can be further classified as
D-Tagatose, Sorbitol, Maltitol, Xylitol, Mannitol, Erythritol and others. On
the grounds of application, the sugar substitutes industry is divided as
Beverages, Food (Confectionery, bakery, dairy and frozen foods) and Health
& Personal Care.
Geographically, the sugar substitutes
market is sub-segmented as North America, Asia Pacific, Europe, Latin America
and rest of the world (RoW). The speedy growth of consuming low-caloric food is
observed especially in developing nations like Middle East, Asia-Pacific, Latin
America, and Africa. This is predicted to drive the global market. This also
results in rising focus of main sugar substitute manufacturers on offering
superior quality and safe products with the help of advanced technologies. This
is projected to affect the market in terms of quality and quantity.
The major players in the sugar
substitutes industry are Cargill Incorporated, Tate & Lyle PLC, E. I. du
Pont de Nemours and Company, Roquette Freres S.A., and Pure Circle Ltd.,
Ajinomoto Co. Inc., Archer Daniels Midland Company, MacAndrews & Forbes
Incorporated, Ingredion Incorporation, and JK Sucralose Incorporation.
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