Sugar Substitutes Market Vendor landscape, Regulatory Framework & PESTEL Analysis Till 2024 “The global Sugar Substitutes Market is predicted to reach USD 19.1 billion in the forecast period owing to the growing customer’s preference towards the low-calorie foodstuffs. Sugar Substitutes are the chemical or plant-based constituents that sweeten the flavor of drinks and foods.”
The global Sugar Substitutes Market is predicted to reach USD 19.1 billion in the forecast period owing to the growing customer’s preference towards the low-calorie foodstuffs. Sugar Substitutes are the chemical or plant-based constituents that sweeten the flavor of drinks and foods. They are also known as the “artificial sweeteners” or “non-caloric sweeteners” which are used as an ingredient in processed foods and drinks or as a tabletop sweetener like sweetening a glass of ice tea. The sugar substitutes are sweeter than sugar, therefore small quantity of these substitutes offer greater level of sweetness. Most Sugar Substitutes are less in calorie or contain no calorie. The growing demand for lowcalorie foodstuffs are projected to boost the sugar substitutes market significantly by 2024 with a CAGR of 4.2%. The demand for sugar substitutes is spurring across the globe. Especially in the beverage industry where the sweetness intensity varies from drink to drinks, sugar substitutes are extensively used. The market growth is driven by the factors like quality of the sugar substitutes, the mixture and content in processing foods, the standards enforced by local and international governments. One of the major drivers of the market is the rise in number of ventures pertaining to food industry. This is because the food industry is the main source of taste and has wide applications in medications too. The rising cost of raw material and the growing supply chain prices are expected to restrain the market in future. However, consumption of high content sugar foods leading to diabetes, heart disease and obesity is also increasing. Currently, people are adopting sugar-free products as a preventive measure for the growing health problems. Most health issues are found among people above 45 years of age and are expected to fuel the sugar substitute market in the coming years.
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