(Entertainment-NewsWire.com, September 05, 2017 ) According to the report Latin America Sugar Substitutes market, published by Market Data Forecast, the Market has been estimated at USD 1.36 Billion in 2016 and is projected to reach USD 1.76 Billion by 2021, at a CAGR of 5.40% during the forecast period from 2016 to 2021. Food additives that resemble the taste of sugar are known as sugar substitutes. The food & beverage industry is increasingly replacing sugar or corn syrup with other sugar substitutes in a range of products traditionally containing sugar.
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.
Latin America 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, Latin America market for Sugar Substitutes is segmented Brazil, Argentina and Mexico. The market in Latin America is proceeding with high CAGR due to increasing penetration of globally acclaimed companies to the untapped markets of this region.
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 Latin America Sugar Substitutes market.
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