Sugar Substitutes: Market Outlook
Sugar, a carbohydrate used in many foods for its sweet taste, is derived from various sources such as sugarcane. Monosaccharide (simple sugar), galactose, and fructose are among the more common types of sugar. The sugar that humans consume is known as sucrose, which – when consumed – will hydrolyse into glucose and fructose. Sugar is mainly used in bakery products and commercial beverages and as a sweetener.
Regular consumption sugar can lead to weigh gain, increased risk of heart diseases, acne, diabetes, increased risk of cancer, depression, accelerated ageing of skin, and fatty liver, among other health risks. With growing health consciousness, there has been a shift in consumer preference towards sugar substitutes. Sugar substitutes are food additives that impart the same taste as sugar, but contain less food energy as compared to any other sugar-based sweeteners. These sugar substitutes are used on a large scale by food manufacturers as replacements for sugar in food products.
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Sugar Substitutes and their Properties:
Nowadays, consumers are more health conscious and inclined towards a healthy diet. In the food and beverage industry, the usual table sugar, which is high in calories, is rapidly being replaced by a variety of sugar substitutes. Specifically, corn syrup and sugar are being replaced by sugar substitutes in food applications. Dietary food, sodas, sugar-free desserts and cereals are some of the common foods that feature sugar substitutes.
The increasing demand for zero-calorie or low-calorie products, coupled with the rising consumer awareness regarding sugar substitutes, is the prime factor contributing to the growth of the sugar substitutes market. Sugar substitutes are mainly used in processed foods such as beverages, ice creams, powdered drink mixes, puddings, jams, jellies, candies, dairy products, and others.
Food manufacturers choose the suitable sugar substitute on the basis various criteria such as availability, cost, stability and other considerations. Sometimes, sugar substitute blends are used. Regulations in the U.S. and Europe have approved the usage of stevia as a sweetener, which has led to an upsurge in the demand for the stevia leaf. The import rate of sugar substitutes in countries such as Indonesia and India is low when compared with other countries, due to the lack of consumer awareness regarding sugar substitutes. The increasing prevalence of diabetes and rising weight-related issues are among the key factors driving the adoption of sugar substitutes.
Global Sugar Substitutes Market: Segmentation
On the basis of type, the global sugar substitutes market has been segmented as:
- High intensity sweeteners
- Low intensity sweeteners
- High fructose corn syrup
On the basis of nature, the global sugar substitutes market has been segmented as:
On the basis of end use, the global sugar substitutes market has been segmented as:
- Food and beverage manufacturers
- Ready-to-eat snacks
- Convenience foods
- Soft drinks
- Packaged food
- Cosmetics and personal care
Global Sugar Substitutes Market: Market Participants
Some of the market participants operating in the global sugar substitutes market, identified across the value chain, include Cargill Incorporated, Tate & Lyle, Archer Daniels Midland Company, E. I. DuPont De Nemours, Ingredion Incorporated, Ajinomoto Co. Inc., Roquette, The Nutra Sweet Company, PureCircle, and JK Sucralose Inc..
Key Developments in the Sugar Substitutes Market
- In November 2016, PepsiCo started the addition of aspartame in its new zero calorie Pepsi or Diet Pepsi
- In October 2017, GLG Life Tech Corp collaborated with Archer Daniels Midland Co. and launched a new product named Reb M sweetener, made using stevia
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Opportunities for Participants in the Sugar Substitutes Market
Growth in the demand for bakery products and beverages directly contributes to growth of the global sugar substitutes market. Sugar substitute’s application is to reduce the costs and decrease the usage of sugar in the manufacturing of food products, which creates more opportunities for the R&D and creates a competitive advantage in the global sugar substitutes market.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.