DELRAY BEACH, Fla., Oct. 30, 2024 /PRNewswire/ -- The sugar substitutes market is estimated at USD 23.56 billion in 2024 and is projected to reach USD 29.90 billion by 2029, at a CAGR of 4.9% from 2024 to 2029, according to a report published by MarketsandMarkets.
The sugar substitute market is witnessing significant growth due to various driving factors. Currently, the clean label demand is a very prominent factor, as consumers are focusing on natural ingredients without artificial additives. Moreover, innovation in food and beverages is inspiring manufacturers to develop substitutes for sugar in the marketplace, creating alternatives to be able to enhance their product formulations with the retention of taste and quality. Furthermore, the trend for consumption of plant-based diets is increasing demand for natural sweeteners such as stevia and monk fruit extract. Regulatory support and favorable government policies towards sugar substitutes usage support the food manufacturing industry. Technological and production improvements tend to be more efficient and cost-effective with high-intensity sweetener extraction and refinement. The increasing maturity of the e-commerce segment and health-focused retail channels is providing such alternatives to consumers and further driving the growth of the market.
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The liquid form is growing at a significant CAGR in the sugar substitutes market during the forecasted period 2024-2029.
Liquid sweeteners are grasping importance globally in the food and beverage industry. It has gained popularity through the years with the establishment of nutrition benefits, long shelf life, and easy consumption. There are various types of sugar substitutes that are available in liquid and syrup form. For instance, high-fructose corn syrup is sometimes used in the manufacture of chocolates. Furthermore, liquid maltitol has 75 to 90 percent of sucrose's sweetness content. Hence, it finds applications in various confectionery products such as candies as it does not impact much on tooth decay and reduces the risk of oral cavities. Additionally, with liquid sweeteners, Elo Life Systems (Nort Carolina) innovation makes the company stand out with its recent formulation based on monk fruit, which can be a significant source of growth in the increasing demand for sugar substitutes of the liquid form for increased convenience and ease of application. Consumers are constantly on the lookout for a healthy alternative to sugar. Liquid sweeteners with no calories and all-natural high-intensity sweetness are thus on the rise. Sweeteners like those advanced by Elo have an outstanding sensory profile as they derive from plant sources that are readily available. Hence, they find application in the food and drinks manufacturing sector seeking viable alternatives that are safe and cheaper to add flavor without compromising on the quality.
The high fructose corn syrup segment is having a significant share in the market.
The high fructose corn syrup segment is having a significant share in the sugar substitutes market. High Fructose Corn Syrup or HFCS is a corn-based starch syrup produced through the processes of hydrolysis, isomerization, and purification, thus obtaining a different glucose composition and fructose. The sweet, relatively cheap alternative for sucrose soon found its place on food industry shelves, adding sweetness, stability, and functional benefits to many products, such as sodas and fruit drinks, baked goods, and condiments, among many more processed foods. According to FDA regulations (21 CFR 184.1866), HFCS typically contains either 42% or 55% fructose and is available in two forms the 42 and the 55 Glucose and water make up the rest. HFCS 42 is typically used in cereals, processed foods, and baked goods. Most soft drinks use HFCS 55.
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The beverages segment is projected to dominate the sugar substitutes market during the forecasted period 2024-2029.
The beverages segment dominates the sugar substitutes market in the application segment. Consumer demand for more low-calorie and health-conscious beverage options explains this category. In August 2022, Kraft Heinz (US) reformulated its US juice drinks under Capri Sun to reduce the sugar content by 40% using monk fruit. This is a direct reaction to consumer demand for healthier alternatives for children. This happens to remain in compliance with FDA requirements regarding added sugars and generally falls under an emerging trend toward natural sweeteners. However, the high cost of monk fruit limits its broader market adoption. Additionally, key players are also engaged in partnership with beverage manufacturers to enhance the usage of sugar substitutes instead of sucrose. For instance, Ingredion (US) focuses on sugar reduction in beverages through its partnership with Better Juice in January 2024, which is an initiative to use low or no sugar content in beverage products.
Based on region, Europe has a significant share in the sugar substitutes market.
Europe has a very significant share in the sugar substitutes market for several reasons. Consumer preference for healthier, low-calorie alternatives has been growing in the region, and it is well correlated with health awareness. The regulatory structure is even stronger in Europe than in other regions, aiding better development and adoption of sugar substitutes, which encourages more innovation. The companies also invest in the partnership and capacity enlargement of sugar substitute production. For example, recently, Roquette Frères (France) and Bonumose (US) announced that they would commercialize tagatose by July 2024. The development would follow Roquette's continued investment to expand its supply chain and manufacturing capacity in France as it looks to boost production to meet the growing demand for healthier alternatives of sugar. Furthermore, in March 2022, Roquette invested USD 26.29 million in the production of polyols. With these developments, the region is expected to meet the growing demand for low-calorie and nutritious food products, further supporting its strong share in the sugar substitutes market.
The report profiles key players such as Cargill, Incorporated (US), ADM (US), Ingredion (US), International Flavors & Fragrances Inc (US), Tate & Lyle (UK), Ajinomoto Co. Inc (Japan), GLG Life Tech Corp (Canada), Celanese Corporation (US), Roquette Frères (France), PCIPL (India), Mane SA. (France), Döhler GmbH (Germany), Morita Kagaku Kogyo Co., Ltd (Japan), zuChem (US), and Van Wankum Ingredients (Netherlands).
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Sweeteners Market by Product (Sucrose, High-fructose Corn Syrup, Natural Sweeteners, Artificial Sweeteners, Novel Sweeteners, and Polyols), Sales Channel (Direct and Indirect), Type, Form, Application and Region - Global Forecast to 2028
Natural Sweeteners Market by Type (Stevia, Sorbitol, Xylitol, Mannitol, Erythritol, Sweet Proteins, and Others), End-use Sector (Food & Beverage, Pharmaceutical, Direct Sales, and Others), Application, and Region - Global Forecast to 2025
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