Global Sugar Substitutes Market is expected to reach USD 19.10 billion by 2024, according to a new report by Grand View Research, Inc. Rising health conscious population coupled with increasing disposable income and growing consumption of low calorie and healthier food & beverages are the key driving forces propelling market growth.
The market is witnessing increasing incorporation of sugar substitutes into the health & personal care products which is expected to drive demand over the forecast period. Rising prevalence of health problems including obesity and diabetes along with fluctuating sugar prices hampering supply is anticipated to fuel sugar substitutes market growth.
Sugar substitutes are majorly used in the form of sorbitol, tagatose, and aspartame saccharine in health care, cosmetics, and food & beverage industry. Gaining importance of artificial sweeteners in the formulation of confectioneries, bakery, dairy, and frozen foods would have a strong impact on market growth over the next eight years.
Beverage manufacturers such as Coca-Cola Company have pursued their efforts on developing calorie-free substitutes, filed for patents to the FDA in relation with herb called stevia, which is used to impart sweetening characteristics to food and drinks. These developments are expected to facilitate other market players to incorporate these activities into their R&D portfolio and would open new market avenues over the forecast period.
Access for Full Detail of Report and Complete TOC: http://www.grandviewresearch.com/industry-analysis/sugar-substitutes-market
Further key findings from the report suggest:
View Blogs on Related Reports from Same Category: http://www.grandviewresearch.com/blogs/food-and-beverages
Grand View Research has segmented the global sugar substitutes market on the basis of product, application, and region:
Global sugar substitutes product outlook (Volume, Kilo tons; Revenue, USD Million, 2013 – 2024)
Global sugar substitutes application outlook (Volume, Kilo tons; Revenue, USD Million, 2013 – 2024)
Global sugar substitutes regional outlook (Volume, Kilotons; Revenue, USD Million, 2013 – 2024)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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