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Sugar Substitutes Global Market Report 2021: COVID-19 Growth And Change

·4-min read

Major players in the sugar substitutes market are DuPont Nutrition & Biosciences, Archer Daniels Midland Company, Tate & Lyle, Cargill Inc. , Ingredion Incorporated, Roquette Frères, PureCircle Ltd, Ajinomoto Co.

New York, Dec. 03, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Sugar Substitutes Global Market Report 2021: COVID-19 Growth And Change" -
Inc., JK Sucralose Inc., Stevia Corp., Sweetly Stevia, Kerry Group, Biosweet Ventures, Shandong Aojing Biotechnology Co. Ltd., Sunrise Nutrachem Group Co.Ltd, and Hunan Nutramax Inc.

The global sugar substitutes market is expected to grow from $17.57 billion in 2020 to $19.00 billion in 2021 at a compound annual growth rate (CAGR) of 8.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $23.96 billion in 2025 at a CAGR of 6%.

The sugar substitutes market consists of sales of sugar substitute products by entities (organization, sole traders, and partnerships) that are chemical or plant-based substances used in food and drinks as additives to enhance sweet flavor.Sugar substitutes provide health benefits due to low calories and can be consumed in a variety of ranges including stevia, aspartame, maltitol, neotame, and others.

Sugar substitutes are used in breakfast cereals, pudding, tea, and other sweet beverages.

The main types of sugar substitutes are high-intensity sugar substitutes, low-intensity sugar substitutes, and high fructose syrup.High-intensity sugar substitutes are sweeteners with greater intensity of sweetness compared to regular sugar.

High-intensity sugar substitutes are used as sweeteners in food in low quantity and contribute few calories.High-intensity sugar substitutes come in different forms including aspartame, sucralose, neotame, acesulfame, potassium, and advantame.

The origin of sugar substitutes is from natural and artificial sources and is available in solid and liquid forms. Sugar substitutes are used in food, beverages, nutrition and supplements, pharmaceuticals, animal feeds, and personal care.

North America was the largest region in the sugar substitutes market in 2020.The Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The development of the fermentation process is a key trend gaining popularity in the sugar substitutes market.The fermentation process is increasingly being used to develop sugar substitute products from the stevia plant.

Fermentation is being used by scientists as a unique method for making Rebaudioside M (Reb-M) to sustain the purity and sweetness of sugarcane in natural sugar substitute similar to regular sugar.For instance, in 2020, Amyris, a US-based biotechnology company adopted the fermentation method to expand their non-sugar sweetener products and developed zero-calorie sweeteners with a similar taste to regular sugar.

The new method allows Amyris to make higher purity, higher quantity, and low-cost sustainable sugar with the best taste.

In December 2020, Tate & Lyle, a UK-based company that provides food and beverage ingredients and solutions acquired Sweet Green Fields (SGF) for an undisclosed amount.Through this acquisition, Tate & Lyle will expand its portfolio for stevia products and will gain a fully integrated stevia supply chain, including leaf sourcing, leaf varietal development, established agricultural programs, and cost-effective manufacturing.

Sweet Green Fields (SGF) is a US-based company that provides sugar substitute products.

The increasing prevalence of obesity and diabetes among the population is propelling the growth of the sugar substitutes market.A large portion of the population is choosing low sugar options to manage their diabetes and obesity conditions.

Sugar substitutes help controlling high blood pressure, body weight, and blood sugar levels in patients facing diabetes or obesity health issues.For instance, according to International Diabetes Federation, in 2019, 463 million people have diabetes globally and the number is projected to increase to 700 million by 2045.

Therefore, the increasing prevalence of obesity and diabetes is expected to fuel the growth of the sugar substitutes market in the coming years.

The countries covered in the sugar substitutes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report:

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