sugar substitutes market
The
global types of sugar substitute size
is projected to reach USD
10.27 billion by the end of 2026. The increasing
applications of sugar substitutes in several food products will emerge in favor
of market growth. According to a report published by Fortune Business Insights,
titled “Sugar
Substitutes Market Size, Share and Global Trend By Type (Aspartame, Acesulfame
potassium, Saccharine, Sucralose, Stevia, Sugar Alcohols, and Others),
Application [Food and Beverage (Table-top, Beverages, Bakery &
Confectionery, and Other Processed Foods), Pharmaceuticals, and Personal Care
and Cosmetics), and Geography Forecast till 2026,” the
market was worth USD
6.35 billion in 2018 and will exhibit a CAGR of 6.3%
during the forecast period, 2019-2026.
Sugar
substitutes are food products that are used as low-calorie sugar alternatives.
The product is used as a substitute for natural and processed sugar and
contains the same amount of sweetness as normal sugar. The increasing demand
for sugar substitutes driven by applications in diverse food products will open
up a huge potential for the companies operating in the market. The increasing awareness
regarding the adverse effects of sugar consumption will create a subsequent
demand for sugar substitutes.
The
increasing adoption of a sedentary lifestyle has led to a wider consumption of
processed foods that contain a huge amount of sugar. The growing demand for
clean-labeled products will open up a huge potential for the companies
operating in the market. The presence of several large scale companies will aid
the growth of the overall market in the coming years.
Tata Chemicals Introduces New Zero-sugar Sweetener; Increasing
Product Launches Will Aid Sugar Substitutes Market Growth
The
report encompasses several factors that have contributed to the growth of the
market in recent years. The increasing adoption of healthy foods and the demand
for health-friendly substances will fuel the demand for sugar substitutes
across the world. Accounting to the adoption of healthy lifestyle habits,
companies are focused on introducing newer products that will help them
establish a stronghold in the market.
In
February 2019, Tata Chemicals announced the launch of a new sugar substitute.
The company introduced Tata Nx, a zero-sugar sweetener that can be used as a
substitute for natural sugar with the same amount of sweetness. Tata Nx is a
100% natural sweetener that is developed from stevia herb extract and has zero
to minimum effects on human health. Through the introduction of Tata Nx, Tata
Chemicals will look to capitalize on its massive consumer base across the
world. Tata Chemicals’ latest product will not just benefit the company but
will have a huge impact on the growth of the overall market in the foreseeable
future.
Asia Pacific to Exhibit
the Highest CAGR; Increasing Demand for the Product Will Aid Growth
The
report highlights the ongoing market trends across North America, Europe, Asia
Pacific, Latin America, and the Middle East and Africa. Among these regions,
the market in North America currently dominates the market. The increasing
investments, as well as efforts put in by major companies in the research and
development of efficient sugar substitutes, will aid the growth of the market
in this region.
The
increasing prevalence of diabetes will lead to a wider consumption of sugar
substitutes in several countries across this region. Besides Asia Pacific, the
market in North America will also witness considerable growth in the coming
years, driven by the high prevalence of diabetic patients in the United States.
As of 2018, the market in North America was worth USD 2.39 billion and this
value is projected to increase further in the coming years.
Read
More About Press Release:
https://www.fortunebusinessinsights.com/press-release/commercial-seed-market-9070
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