Global Sugar Substitutes Market to Reach $24.3 Billion by 2028, Fueled by Health Concerns and Dietary Shifts

Northbrook, IL 60062 -- (SBWire) -- 09/15/2023 --A recent research report titled "Sugar Substitutes Market by Type (High-Fructose Syrup, High-Intensity Sweeteners, Low-Intensity Sweeteners), Composition, Application (Beverages, Food Products, & Health & Personal Care Products), Source, Form, Region - Global Forecast to 2028," published by MarketsandMarkets, projects significant growth in the global sugar substitutes market. According to the report, the market is expected to expand from USD 18.8 billion in 2023 to USD 24.3 billion by 2028, at a compound annual growth rate (CAGR) of 5.2% during the forecast period.

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The rising concern over lifestyle disorders such as diabetes, obesity, and heart disease, which have high mortality rates, has prompted governments and societies worldwide to take action. There is a well-established correlation between non-communicable diseases (NCDs) and dietary factors, including the excessive consumption of sugar-sweetened foods and beverages. In response, consumers and food processors are increasingly turning to sugar substitutes. These substitutes provide sweetness and enhance flavor in food and beverages without adding the calories associated with sugar. Importantly, they do not cause spikes in blood sugar levels, making them potentially beneficial for individuals with diabetes and other metabolic disorders.

Key Highlights from the Report:

Artificial Sweeteners Dominate High-Intensity Sweeteners: The artificial segment is expected to hold the largest share among high-intensity sweeteners in 2023. This shift towards low-calorie artificial sweeteners is driven by the growing prevalence of obesity, diabetes, and metabolic syndrome. These artificial sweeteners, also known as non-nutritive sweeteners (NNS), provide intense sweetness with minimal or zero calories per gram. They are widely used in beverages, dietary products, medications, and even mouthwashes. Notably, several artificial sweeteners, including aspartame, saccharin, sucralose, neotame, acesulfame-K, and stevia, have received the "generally recognized as safe" designation from the United States Food and Drug Administration.

Rapid Growth in the Beverage Segment:

The beverage sector is expected to exhibit the fastest growth rate among all sugar substitute applications in 2023. Increasing awareness, research findings, legislative measures, and dietary trends have prompted beverage brands to develop products with reduced sugar content or alternative, healthier sweeteners. Companies like Coca-Cola and PepsiCo have introduced diet versions of their beverages sweetened with artificial sweeteners like aspartame and sucralose. Moreover, naturally sweetened options using stevia extract, such as Reb A, are gaining popularity.

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North America Leads in Market Growth:

North America is experiencing the highest growth rate in the sugar substitutes market. Diet-related diseases are a leading cause of death in the region, with added sugars in the standard American diet having a detrimental impact on health. Initiatives like the National Salt and Sugar Reduction Initiative (NSSRI) have set targets for reducing sugar content in various food and beverage categories. Additionally, the COVID-19 pandemic has heightened health consciousness among Americans, with over 70% expressing increased concern for their physical health. This growing interest in health and environmentally friendly food products is driving the expansion of the sugar substitutes market.

Key Players in the Sugar Substitutes Market:

The key players in the sugar substitutes market include International Flavors & Fragrances Inc. (US), ADM (US), Tate & Lyle (UK), Ingredion (US), and Cargill, Incorporated (US).

In conclusion, the global sugar substitutes market is on a growth trajectory, driven by health concerns, dietary shifts, and the increasing prevalence of lifestyle-related diseases. As consumers and food processors seek healthier alternatives to sugar, the market for sugar substitutes is expected to continue expanding in the coming years.

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