comprehensive overview of the Sugar Substitutes market is recently added by UnivDatos Market Insights to its humongous database. The Sugar Substitutes report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Sugar Substitutes market. Sugar Substitutes report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates Sugar Substitutes at the global and regional levels. The Sugar Substitutes Market is expected to grow at a CAGR of XX% from 2021-2027 to reach US$ XX million by 2027.
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Market Overview
A rise in sugar consumption is one of the prominent reasons driving the growth of sugar Substitutes globally. The global consumption of sugar amounted to 172.6 in 2018/2019 and is projected to increase to about 171.8 million metric tons by 2020/2021. With the increase in world trade, better agricultural technology, among other reasons, sugar is cheaper and more widely available than ever. In 2018/2019, about 188.25 million metric tons of sugar was produced worldwide, up from 164.7 million metric tons of sugar in 2015/2016. India consumes the most sugar of any country, followed by the European Union and China. In the ten years between 2016 and 2026, the global price of sugar is expected to decrease from 0.17 U.S. dollars per pound to 0.14 U.S. dollars per pound. Though this means that sugar might be even more readily accessible and affordable in the future, this could lead to further global health problems associated with excess sugar consumption.
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COVID-19 Impact
The COVID-19 pandemic was the greatest source of uncertainty, affecting macroeconomic conditions, consumption, and trade. Therefore, it directly affected the production and supply chain of sugar Substitutes. The leading manufacturers had to change the strategy worked hard on their business strategy to stabilize the market. Also, it was expected that it would affect 2020/2021 production in the labor-intensive production systems of counties such as India and Thailand. The Crude oil price fluctuations and the Renovation ethanol program could have significant effects on the international market for sugar by altering the export levels from Brazil. Production in India is characterized by frequent production swings, and these could impact the international market, given that India is also the world’s largest consumer. Heightened concerns over health issues associated with excessive caloric sweetener consumption are some of the prominent reasons for the growing market during the COVID-19 period.
The Sugar Substitutes Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily bifurcated into
• High Fructose Syrup
• High-Intensity Sweetener
• Low-Intensity Sweetener
The High-Intensity sweetener extract segment dominated the type segment and gathered XX% of the Sugar Substitutes Market in 2020. Moreover, the market of this segment is expected to grow at XX% CAGR to reach US$ XX million by the year 2027.
By Origin, the market is primarily bifurcated into
• Natural
• Artificial/ Synthetic
The Natural segment grabbed the major market share in 2020 dominated the origin segment. The segment gathered XX% of the Sugar Substitutes Market in 2020. Moreover, the market of this segment is expected to grow at XX% CAGR to reach US$ XX million by the year 2027.
By Form, the market is primarily segmented into
• Crystalized
• Liquid
• Powder
Based on the form, the market is fragmented into crystalized, liquid, and Powder. The crystallized form accounted for the largest share and is expected to grow at XX% CAGR during the forecast period 2021-2027. In 2020, the crystalized segment generated a revenue of US$ XX million.
By Application, the market is primarily bifurcated into
• Beverages
• Food Products
• Health & Personal Care Products
• Others (Pharma)
The beverage segment grabbed XX% of the Sugar Substitutes Market in 2020. Moreover, the market of this segment is expected to grow at XX% CAGR to reach US$ XX million by the year 2027.
Sugar Substitutes Market Geographical Segmentation Includes:
· North America
· Europe
· Asia-Pacific
· Rest of the World
Based on the estimation, the North America region grabbed XX% market share in 2020 and gathered almost US$ XX million in revenue in 2020. The market of the region would proliferate owing to the surging end-users awareness.
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The major players targeting the market includes
• Cargill Incorporated
• DuPont
• ADM
• Tate & Lyle
• Ingredion Incorporated
• Roquette Frères
• Purecircle Ltd
• Macandrews & Forbes Holdings Inc
• K Sucralose Inc.
• Ajinomoto Co. Inc.
Competitive Landscape
The degree of competition among prominent regional companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in Sugar Substitutes Market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the Sugar Substitutes Market?
· Which factors are influencing the Sugar Substitutes Market over the forecast period?
· What are the global challenges, threats, and risks in Sugar Substitutes Market?
· Which factors are propelling and restraining Sugar Substitutes Market?
· What are the demanding global regions of the Sugar Substitutes Market?
· What will be the global market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by global companies?
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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