Sugar Substitutes Market Worth $19.1 Billion by 2024 | CAGR 4.2%

Grand View Research, Inc.

SAN FRANCISCO, May 31, 2018 /PRNewswire/ --

The global sugar substitutes market size is expected to reach USD 19.1 billion by 2024, according to a new report by Grand View Research, Inc., posting a CAGR of 4.2% during the forecast period. Growing awareness and rising consumer inclination towards low-caloric food and beverages, especially in developing countries are likely to help the market gain significant momentum over the forecast period.

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Sugar substitutes are majorly used in the form of sorbitol, tagatose, and aspartame saccharine in the healthcare, cosmetics, and food & beverage industry. Increasing importance of artificial sweeteners in the formulation of confectioneries, bakery, dairy, and frozen foods is estimated to work in favor of the market.

The food segment is expected to achieve the fastest growth over the forecast period, owing to increasing awareness and changing consumer patterns for low-calorie food products. The major market players in the food industry are focused on the development of superior quality products at economical pricing. The above trends are expected to propel demand for sugar substitutes over the forecast period.

Rising prevalence of health problems related to sugar consumption in emerging economies is stimulating the growth of the overall market. Fluctuating supply and pricing of sugar is expected to create opportunities for sugar substitutes.

Sugar substitutes are used in various applications including bakery, confectionery, dairy, frozen foods, beverages, pharmaceuticals, and personal care. Rising health awareness among population and ongoing technological advancements are among the key factors anticipated to trigger the growth of the market.

However, stringent regulatory framework for the production of sugar substitute products and notion among common masses that consumption of sugar substitutes triggers health problems are projected to keep the market from realizing the utmost potential during the forecast period.

 Browse full research report with TOC on "Sugar Substitutes Market Size, Share & Trends Analysis Report By Product (High Intensity Sweeteners, Low Intensity Sweeteners, High Fructose Syrup), By Application (Food, Beverages), And Segment Forecasts, 2018 - 2024" at: https://www.grandviewresearch.com/industry-analysis/sugar-substitutes- ...