27-Apr-2022 | Zion Market Research
The global Alternative sweetener market was worth around USD 4219.50 million in 2021 and is estimated to grow to about USD 5463.41239 million by 2028, with a compound annual growth rate (CAGR) of approximately 4.40% percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.
The market for alternative sweeteners is expected to grow at a rapid pace due to factors such as rising consumer health awareness and an increase in the number of patients suffering from obesity, diabetes, and heart disease. Furthermore, an increase in demand for low-calorie food products has paved the way for industry growth. The rising demand for low-calorie foods without sacrificing sweetness, as well as changing consumer preferences, are key drivers in the alternative sweetener market. However, strict government regulations concerning sweeteners, as well as the fact that excessive consumption of alternative sweeteners is harmful to the body, may limit industry demand. Owing to the rise in demand for Alternative sweeteners the global Alternative sweetener market is estimated to grow at a CAGR of 4.40% during the forecast period.
As a result of ongoing advances and new uses in the food sector, such as developments in dairy products and baked goods, the worldwide alternative sweeteners market has developed considerably. Alternative sweeteners provide benefits such as sweetness, low cost, taste, nutrition, bulkiness, preservation qualities, heat resistance, and blending abilities in addition, increased health concerns, as well as an increase in the incidence of diabetes and obesity, are propelling the alternative sweeteners market forward. Furthermore, market growth is being driven by an increase in demand for low-calorie sweeteners as well as an increase in the obese population, particularly in developing countries. The market is expected to expand as the number of people suffering from cardiovascular disease rises. The expansion of the beverage market in both developed and developing countries is driving up demand for alternative sweeteners.
The global Alternative sweetener market is segregated based on type, application and end user. Based on type, the global market is divided into Stevia, Sorbitol, Xylitol, Mannitol, Erythritol, Sweet proteins and Other types. The stevia segment dominates the market. Based on application, the market is segmented into Bakery products, Confectioneries & gums, Spreads, Beverages, Dairy products, Frozen desserts, Tabletop sweeteners, Pharmaceutical products and Other applications. The beverages segment is expected to lead over the forecast period. Based on end use sector, the market is segmented into Food & beverages, Pharmaceutical, Direct sales and Other end-use sector. The food & beverage segment contributes massively towards the overall Alternative sweetener market share.
North America is expected to hold the largest share of the sugar substitutes market in 2021. The region's share is influenced by the high demand for sugar replacements and replacers, the presence of large players in these regions, and an increase in processed sugar alternative consumption due to increased awareness of sugar substitute benefits. The Asia Pacific region's food market is undergoing a dramatic transformation as a result of diet diversification, rapid urbanization, and liberal trade policies. Furthermore, an increase in consumer awareness about health issues, as well as an increase in consumer preference for health-benefiting food products, are the major factors providing growth opportunities for sugar substitute manufacturers in Asia Pacific region.
Key players functioning in the global Alternative sweetener market include DuPont (US), ADM (US), Tate & Lyle PLC (UK), Cargill (US), Ingredion Incorporated (US), Roquette Frères (France), FoodChem International Corporation (China), PureCircle Ltd (US), MacAndrews & Forbes Holdings Inc (Merisant) (US), Ecogreen Oleochemicals Pvt Ltd (Indonesia), Pyure Brands LLC (US), Stevia Hub India (India), Suminter India Organics (India), Stevia Biotech Pvt Ltd (India), The Real Stevia Company (Sweden), Sweetly Stevia USA (UK), XiliNat (Mexico), Fooditive B.V. (Netherlands), Saganà Association (Switzerland), and Hearthside Food Solutions LLC (US).
Browse the full “Alternative Sweetener Market By Type (Stevia, Sorbitol, Xylitol, Mannitol, Erythritol, Sweet proteins and Other types), By Application (Bakery products, Confectioneries & gums, Spreads, Beverages, Dairy products, Frozen desserts, Tabletop sweeteners, Pharmaceutical products and Other applications), By End-use sector (Food & beverages, Pharmaceutical, Direct sales and Other end-use sectors), and By Region – Global Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/alternative-sweetener-market
The market is segmented as follows:
By End-use sector
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