Alternative Sweetener Market Size Projected to Garner USD 7,057 Million by 2032 growing at 4.4% CAGR - Exclusive Report by Acumen Research and Consulting
The Global Alternative Sweetener Market Size is predicted to reach USD 7,057 Million by 2032 from USD 4,648 Million in 2022, at a CAGR of 4.4% between 2023 and 2032, as per the Acumen Research and Consulting
The alternative sweeteners market is a rapidly growing industry, driven by increasing demand for low-calorie and natural sweeteners. The market includes a variety of sweeteners such as stevia, monk fruit, erythritol, and allulose. The use of alternative sweeteners has increased in recent years as consumers have become more health-conscious and have begun to look for natural alternatives to traditional sugar. In addition, alternative sweeteners are also used in the food and beverage industry as a way to reduce sugar content and calories in products, which can help with weight management and diabetes management. The market is expected to continue growing as more companies invest in the development and production of alternative sweeteners.
Alternative Sweetener Market Statistics
- Global alternative sweetener market value was worth USD 4,648 Million in 2022, with a 4.4% CAGR from 2023 to 2032
- According to the International Diabetes Federation (IDF), the number of diabetics will rise from 463 million in 2019 to 700 million by 2045
- North America alternative sweetener market share occupied around 38% in 2022
- Asia-Pacific alternative sweetener market growth is projected to record above 5% CAGR from 2022 to 2030
- By application, food and beverages segment capture over 65% of total market share in 2021
- Increasing consumer demand for low-calorie and natural sweeteners, propel the alternative sweetener market revenue
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Alternative Sweetener Market Trends
Alternative sweeteners are a type of sweeteners that can be used as a substitute for traditional sugar in food and beverage products. They include a variety of sweeteners such as stevia, monk fruit, erythritol, and allulose. They are becoming increasingly popular due to their natural origin, low-calorie content, and ability to reduce the sugar content in products.
One of the major trends driving the growth of the alternative sweeteners market is the increasing demand for low-calorie and natural sweeteners. Consumers are becoming more health-conscious and are looking for natural alternatives to traditional sugar. As a result, companies are investing in the development and production of alternative sweeteners to meet this demand.
Another important factor driving the growth of the alternative sweeteners market is the increasing awareness about the health risks associated with consuming excessive amounts of sugar. According to the World Health Organization (WHO), adults and children should limit their regular consumption of added glucose to less than 10% of their total energy consumption. This has led to a greater demand for alternative sweeteners that can be used as a substitute for sugar in food and beverage products.
The food and beverage industry is also a significant contributor to the growth of the alternative sweeteners market. With the increasing demand for low-calorie and sugar-free products, companies are turning to alternative sweeteners to reduce the sugar content in their products. This has led to greater availability of low-calorie and sugar-free products in the market, which can help with weight management and diabetes management.
Alternative Sweetener Market Segmentation
Acumen Research and Consulting has segmented the global alternative sweetener market by product type, source, and application.
- By product type, the market is categorized into high fructose syrup, low-intensity sweeteners, and high-intensity sweeteners.
- By source, the industry is divided into synthetic, and natural.
- By application, the industry is classified into food and beverages (confectionery, bakery, dairy, beverage, and others), pharmaceuticals, and others.
Alternative Sweetener Market Regional Overview
Geographically, the global alternative sweetener market can be divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. According to the alternative sweetener industry analysis, Asia-Pacific is the fastest-growing region in the global market. One of the major factors driving the growth of the alternative sweeteners market in this region is the increasing awareness about the health risks associated with consuming excessive amounts of sugar. Another important factor is the increasing demand for low-calorie and natural sweeteners in Asia-Pacific countries. Consumers in this region are becoming more health-conscious and are looking for natural alternatives to traditional sugar. This has led to greater investment in the development and production of alternative sweeteners by companies in the region.
The food and beverage industry is also playing a significant role in driving the growth of the alternative sweeteners market in the Asia-Pacific region. Companies in this region are turning to alternative sweeteners to reduce the sugar content in their products, which can help with weight management and diabetes management. This has led to greater availability of low-calorie and sugar-free products in the market, which is driving the growth of the alternative sweeteners market in Asia-Pacific.
Alternative Sweetener Market Players
Some of the prominent alternative sweetener market companies are Cargill Incorporated, GLG Life Tech Corporation, Archer Daniels Midland Company, Tate & Lyle, Heartland Food Products Group, Roquette Freres, DuPont de Nemours, Inc., Ingredion Inc., Ajinomoto Co., Inc., andJK Sucralose Inc.
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