The Global Sugar Alternative Market is witnessing an impressive growth over the last few years. With the changing lifestyle and evolving dietary patterns, convenience food plays an important role in defining the consumers’ food choices in the modern world. Sugar alternative is one of the important components in the food manufacturing process. One of the significant reasons of the rising growth of sugar alternative is the mounting growth of various beverages. Beverages are gaining traction both in the developed and developing economies. Due to the increasing population coupled with the rising per capita disposable income is anticipated to fuel the sales of beverages. Apart from that, factors such as changing lifestyle rising women workforce, and increasing demand of convenience products are anticipated to be vital reasons for increasing demand of beverages which is anticipated to fuel the overall growth of sugar alternative. Sugar alternative is massively used in the bakery & confectionery products, dairy products, and various frozen food which will aid to upsurge the sales of sugar alternative during the forecast period of 2017-2023. Also, one of the recent trends which is gaining traction among the consumers is the rising growth of natural sugar substitute products.
Sugar alternative is considered to be as food additives or ingredients which are massively used in the food and beverages. Sugar alternative provides a sweet taste like sugar. Sugar alternative offers less energy as compare to the sugar. Sugar alternative comes in various forms such as powder & cube and other various forms. Sugar alternative enhances the shelf life of the prepared food which is considered to be one of the significant reasons of the rising growth of sugar alternative.
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High intensity sweeteners segment is estimated to account for major market proportion in the global sugar alternative market. The growth of the high intensity sweeteners is contributed by the economical pricing along with the massive usage in the alcoholic beverages products. Among the high intensity sweeteners is accounting for maximum market proportion in the sugar alternative market. Among the application beverages is holding maximum market proportion in the year of 2017 and it is projected to retain its dominance throughout the forecast period. However, food segment is estimated to grow fast as compare to the other segments. Store based distribution channel is accounts for the maximum market share in the global Sugar Alternative market. Among the store based distribution channel, supermarkets & hypermarkets is anticipated to hold more than 50% of market proportion in the global sugar alternative market. Non-store based distribution channel is projected to grow steadily during the forecast period.
The Major Key Players in the Sugar Alternative Market are
- Cargill, Incorporated (U.S.)
- E. I. du Pont de Nemours and Company (U.S.)
- Roquette Freres S.A. (France)
- Tate & Lyle PLC (U.K.)
- Archer Daniels Midland Company (U.S.)
- Ingredion Incorporated (U.S.)
- Ajinomoto Co., Inc. (Japan)
Global sugar alternative market is highly concentrated in North America. Asia Pacific has massive potential for sugar alternative, as there is an increasing awareness regarding healthy food habits along with new product developments by the key players in the sugar alternative market.
The Global Sugar Alternative Market is segmented into North America, Europe, Asia Pacific, and the rest of the world (RoW). Among these, North America region is expected to retain its dominance throughout the forecast period. This is attributed by the rising health awareness among the consumers coupled with the new product development by the key players. Asia Pacific region is projected to register highest CAGR during the forecast period of 2017-2023. Among the Asia Pacific countries, China & India is estimated to account for half of the market proportion of Asia Pacific sugar alternative market. The number of patient is significantly increasing over the last couple of years which is anticipated to boost the sales of sugar alternative.
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