Global Sugar Substitute Market by Product Type, by Application, by Region and Segment, Forecasts 2020–2026

Global Sugar Substitutes Market was valued at USD 13.70 billion in 2016, and is expected to witness CAGR of 4.2% from 2020–2026. The key growth drivers are increasing awareness of low-calorie food consumption, growing use of sugar substitutes in the health & personal care industries and increasing awareness of the repercussions of high sugar consumption.

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Regular consumption sugar can lead to weigh gain, increased risk of heart diseases, acne, diabetes, increased risk of cancer, depression, accelerated ageing of skin, and fatty liver, among other health risks. With growing health consciousness, there has been a shift in consumer preference towards sugar substitutes. Sugar substitutes are food additives that impart the same taste as sugar, but contain less food energy as compared to any other sugar-based sweeteners. These sugar substitutes are used on a large scale by food manufacturers as replacements for sugar in food products.

Market Trends, Drivers, Restraints and Opportunity:

Demand for sugar substitutes from diabetic patients is high as sweet foods with sugar substitutes are completely safe and fit for consumption. In addition, manufacturers are now emphasizing on sugar-free food items, which in turn impels the market growth by leap and bounds
Rise in demand for zero-calorie products followed by rise in consumer awareness is a prime factor for market growth. Sugar substitutes are normally used in ice-creams, powdered drinks, jams and jellies. Hence, rise in demand for sweet products ultimately triggers the need for sugar substitutes
Depending on the criterion such as cost, viability, feasibility and stability, sugar substitutes enjoy a high demand from food manufacturers
However, lack of consumer awareness, side-effects caused due to excessive consumption and obesity issues in users is restricting the market growth
Moreover, availability of cheap alternatives is also disturbing the authenticity of genuine products which in turn causes stunted growth