Dublin, Nov. 09, 2020 (GLOBE NEWSWIRE) -- The "Natural Sugar Substitute Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Natural Sugar Substitute Market Report
The natural sugar substitute market by revenue is expected to grow at a CAGR of over 4% during the period 2019-2025.
The global sugar substitutes market is gaining new grounds owing to the rise in obesity and diabetic levels across the world and the growth of the health-conscious population. The growing demand for naturally sweetened food items products, including functional water, confectionary items, and juices, particularly in the health-conscious consumer segment, which perceives natural substitutes as an alternative to sugar-laden foods, is crucial for the growth of the natural sugar substitutes market.
The increased preference for organic and healthy foods, the high focus on clean labels on the consumer's buying behavior, and the growing concern toward sustainable production processes affect market growth. The increase in disposable incomes is encouraging consumers to be conscious of their diets. There is an increasing acceptance of clean labels and beverages with free-from and sustainable brands.
Moreover, the global market is witnessing a widespread acceptance of sustainability labels, which become crucial for plant-based sugar substitutes such as stevia extract. The food and beverage industries are catering to changing needs and customer preferences.
Natural Sugar Substitute Market Segmentation
The global natural sugar substitute market research report includes a detailed segmentation by product, form, end-user, and geography. The global sorbitol segment is expected to grow at a CAGR of close to 5% during 2020-2025. The increasing application of sorbitol in packaged foods and beverages to provide sweetness, texture, and moisture retention is a significant factor influencing the growth of the segment. As the consumer awareness of high sugar consumption increases, manufacturers are substituting it with substitutes such as sorbitol to lower the calorie count. The widespread epidemic of obesity and diabetes in many western countries has led to the growing popularity of sorbitol.
The liquid segment accounted for the largest share of the market, contributing approximately 47% in 2019. Liquid substitutes are developed from different sources, including corn, honey, and others. They are the perfect alternatives to dry sugar in beverages and hot drinks. Powdered substitutes are multi-purpose products that can be used both as sweetening agents in food products and also as tabletop substitutes.
The beverage industry dominated the global natural sugar substitutes market in 2019, constituting a market share of about 43%. The implementation of sugar taxes on sugar-sweetened beverages by several governmental bodies and the increasing consumer awareness of the impact of high added sugar beverages are driving the demand for no or low-calorie beverages containing natural ingredients such as natural sweetening agents including stevia-sweetened drinks.
INSIGHTS BY GEOGRAPHY
The European food sugar substitute market is dominated by sugar, which accounts for more than 70% of the market share. However, currently, the consumption of substitutes is increasing rapidly in the region. This can be attributed to consumer awareness, government regulations to reduce sugar consumption, and widespread application in several health & wellness food products in the industry.
The other major reason for the growth of substitutes is increasing obese, overweight, and diabetic patients in Europe. Most key players bring innovative products, especially stevia-derived products, to meet the growing consumer demand for non-caloric natural sweetener in both food and beverages.
INSIGHTS BY VENDORS
The global natural sugar substitute market is highly fragmented due to several local, regional, and multinational vendors worldwide. The number of international players is, however, limited, and the growing trend of natural ingredients in food products has given rise to numerous domestic and local vendors in the market. New players are expected to increase, which will further escalate the intensity of competition in the natural sugar substitute market.
The industry is also likely to become fiercely competitive in the coming years, where vendors will try to establish their market share with maximum penetration. Brands offering organic and natural products in sustainable and ethical packaging are expected to become more successful among millennial consumers. They should focus on transparency as a primary requirement among the majority of the consumer base.
KEY QUESTIONS ANSWERED
1. What is the natural sugar substitutes market size and growth rate during the forecast period?
2. What are the factors impacting the growth of the natural sweeteners market?
3. What is the growth rate of natural sugar substitute market in India during the forecast period?
4. Who are the leading vendors and what are their market shares?
5. What is the impact of the COVID-19 pandemic on the natural sugar substitutes market share?
The following factors are likely to contribute to the growth of the natural sugar substitute market during the forecast period:
Government Intervention to reduce Sugar Consumption
Growing Demand for Low Calorie Sweeteners
Increasing Prevalence of Obesity
Tate & Lyle
Whole Earth Sweetener
Other Prominent Vendors
A & Z Food Additives
Heartland Food Products Group
Sanxinyuan Food Industry
The NutraSweet Company
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