Covina CA, Jan. 29, 2021 (GLOBE NEWSWIRE) — Asia Pacific regional market exhibits lucrative opportunities. A number manufacturers have started investing in the region, owing to the market been at a nascent stage and the potential of high growth due to a rise in awareness and consumption.
The global sugar substitutes market accounted for US$ 15.2 billion in 2019 and is anticipated to register a CAGR of 8.5%.
The report ” Global Sugar Substitutes Market, By Product (High Intensity Sweeteners, Low Intensity Sweeteners, and High Fructose Syrup), By Application (Food, and Beverages) , and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029” .
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- In July 2020, Tate & Lyle launched the VANTAGE sweetener solution design tools. It is a set of new and innovative sweetener solution design tools along with an education program, which is designed for creating sugar-reduced food and drinks using low-calorie sweeteners.
- 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
Increase in health consciousness among consumers to encourage the demand for healthier food choices
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.
Growing sugar substitutes industry
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.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “ Global Sugar Substitutes Market”, By Product (High Intensity Sweeteners, Low Intensity Sweeteners, and High Fructose Syrup), By Application (Food, and Beverages), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029
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Key Market Insights from the report:
The global sugar substitutes market accounted for US$ 15.2 billion in 2019 and is anticipated to register a CAGR of 8.5%. The market report has been segmented on the basis of product, application, and region.
- Depending upon product, the high intensity sweeteners segment is projected to grow at highest CAGR over the forecast period. High intensity sweeteners dominated the market in 2018. Changing health and wellness trends across the globe is anticipated to boost the application of high intensity sweeteners over the forecast period.
- Depending upon application, the target market is segmented into food, and beverages . Beverage application dominated the global sugar substitute market in the coming years. The segment is projected to dominate the market over the forecast period due to spiraling demand for natural health drinks and sports drinks with enhanced nutritional value.
- By region, Asia Pacific is estimated to be a highly promising destination for sugar substitute manufacturers due to improving living standards of middle-class population coupled with rising spending power of consumers. Besides this, growing concerns among health conscious population are projected to be one of the key factors stimulating market growth.
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The prominent player operating in the global pharmaceutical membrane filtration technologies market includes Tate & Lyle., Cargill Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, Roquette, Ajinomoto Co. Inc., JK Sucralose Inc., PureCircle, The NutraSweet Company, and E. I. DuPont De Nemours.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
- Study Deliverables
- Study Assumptions
- Scope of the Study
- Research Methodology
- Executive Summary
- Opportunity Map Analysis
- Market at Glance
- Market Share (%) and BPS Analysis, by Region
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Investment Analysis
- Competitive Analysis
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