(Entertainment-NewsWire.com, August 24, 2017 ) According to the report Global Sugar Substitutes market, published by Market Data Forecast, the Market has been estimated at USD 13.55 Billion in 2016 and is projected to reach USD 17.17 Billion by 2021, at a CAGR of 4.85% during the forecast period from 2016 to 2021. Regular sugar which is high in calories is being replaced by a vast array of sugar substitutes in the food & beverage industry. Diet sodas, cereals, dietary foods, and sugar-free desserts are some of the products in which Sugar Substitutes are being used.
The market for sugar substitutes is mainly increasing due to rise in health problems related to sugar consumption, increasing awareness and preference for low-caloric food and beverage products, and increase in population and disposable income. But, the market growth can be constrained due to stringent regulatory framework regarding consumption of sugar substitutes which is triggering health problems.
Global market for Sugar Substitutes is segmented based on type, composition, and application. By type, the market is further sub-segmented into high-intensity sweeteners, low-intensity sweeteners, high-fructose syrups. By composition, the market is further sub-segmented into Stevia, Aspartame, Cyclamate, Sucralose, Saccharin, AceK, D-Tagarose, Sorbitol, Maltitol, Xylitol. By application, the market is further sub-segmented into heath & personal care, beverages, food (confectionery, bakery, dairy, and frozen foods). High-intensity sweeteners account for a highest market share and is expected to grow at a CAGR. Its attributes such as cost reduction and appropriate blending with food & beverages to enhance the taste are anticipated to propel the demand in near future. Food segment has the fastest growth, owing to increasing awareness and changing consumer patterns for low-calorie food products.
Geographically, Global market for Sugar Substitutes is segmented into North America, Asia Pacific, Latin America, Europe, and Middle-East and Africa. North America is the biggest market in terms of market share across the globe, followed by Europe. The market in these regions is quite mature due to rising prevalence of diabetes and obesity, and growing consumer demand for sugar substitutes. Asia Pacific and MEA regions are estimated to achieve highest gains in the near future, followed by Latin America. Emerging economies of these regions are providing lucrative profit margins to the key market participants, due to which these markets are growing with very high CAGR.
Cargill Incorporated, Tate & Lyle PLC, E. I. du Pont de Nemours and Company, Roquette Freres S.A., PureCircle Ltd., Ajinomoto Co. Inc., Archer Daniels Midland Company, MacAndrews & Forbes Incorporated, Ingredion Incorporation, and JK Sucralose Incorporation, are the major players of Global Sugar Substitutes market.
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