Size of the World's Sweetener Market
A report estimates the market size of the global sugar substitute market in terms of revenue and volume.
This report estimates the market size of the global sugar substitute market in terms of revenue and volume. This report studies the sugar substitute market in various regions and key countries from each region. Market drivers, restraints, and opportunities are discussed in detail. Market share by major players and countries are also discussed in this report. We have also profiled leading players of this industry including Cargill Inc. (U.S.), Roquette (France), and Tate & Lyle plc. (U.K.).
Sugar substitute products regulate sugar intake by consumers and hence play an important role in the health and well-being of an individual. Potential benefits of consuming these substitutes are highly valuable for all stake holders involved. However, various types and specific characteristics of each type restrict the applicability of these products in a generic manner. In-depth research on these components over the years have resulted in innovating successful formulations for each application and commercializing these. The overall market growth is closely connected to the growth of awareness among consumers with respect to preventive health and wellness. Food, beverage, health-care, and personal care industries create a flourishing market for sugar substitute products. Food and beverage companies launch new products with sugar substitutes to meet market needs. Companies replace their old product lines or add products with these substitutes in a new category to drive sales. Increasing consumption of HIS and LIS by food and beverage, health-care and personal care industries would drive the demand for sugar substitutes in both the near future and long term. Companies are now well positioned with advanced technical competences to explore quest for novel natural sweeteners. There are wide ranges of unexplored plants and fruit compounds with high intensity sweetening capabilities that can be tapped. New innovations and search for natural sweetening compounds and plant extracts can be intensified as these are favored by manufacturers and consumers.
The sugar substitute market is dominated by the North American region, accounting for 49.0% of the market share in 2012. The demand for low caloric foods and low intensity sweeteners drives the North American market, estimated to grow at 3.9% from 2013 to 2018. A high rate of adoption of stevia by manufacturers drives the European market to grow at a healthy CAGR of 5.0%. Prosperous F&B market and resultant demand for LIS and HIS drives APAC, valued at $2,257.3 million in 2012. The Brazilian food industry demand drives the market for LIS and HIS, especially for beverage applications.
The North-America region is expected to continue its dominance in the global sugar substitute consumption; however, due to the increasing impact for demand of convenience health food, functional food and the need to focus on alternate sources of sugar, the Asian sub-continent is expected to drive the growth of the industry for the next few years. China and India are the leaders in the APAC market, driving the demand for sugar substitutes due to the changing lifestyles and growing economies, boosting the need for convenience food sector.