Market Trends of Sugar Substitutes Industry
Health Consciousness Among Individuals Drives the Market
- Excess sugar intake can lead to several health problems, including tooth decay, obesity, diabetes, heart disease, and high blood pressure. Therefore, the increasing awareness of these adverse health impacts and the rising health consciousness encourage individuals to limit their intake of added sugars. According to a survey by the International Food Information Council (IFIC), 61 percent of United States adults were reportedly trying to limit sugars in their diet in 2023.
- Another study conducted in 2022 to understand the reasons behind limiting or avoiding sugars reveals that avoiding gaining weight was the most frequently mentioned explanation amongst approximately 41 percent of respondents. About 38 percent of respondents said they limit their sugar intake to improve their diet, 36 percent to lose weight, 35 percent to prevent a future health condition, and 23 percent to manage an existing health condition.
- As diabetes and obesity become more prevalent, consumers strive to live a healthier lifestyle. They are looking for natural sweeteners with zero calories to keep their blood glucose levels in check. Therefore, it is expected that the demand for stevia will grow as it is aligned with the requirements of the consumers.
- Moreover, health-conscious consumers are avoiding highly refined foods and beverages with added sugars and sweeteners and opting for low-sugar products as they are perceived to be a healthy food option. The statistics by IFIC show that nearly 37 percent of respondents in the United States said that the term "low in sugar" best defines healthy food to them. Therefore, food and beverage manufacturers are shifting to sugar substitutes as they don't contain calories or sugar.
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Asia-Pacific Holds a Major Market Share
- Asia-Pacific currently accounts for the majority of the share of the global sugar substitute market. The primary factors behind this significant growth include the expanding population, the increasing number of health-conscious individuals, and the rising prevalence of chronic medical conditions.
- The rising trend of natural and organic products has boosted the demand for natural sweeteners in the region. Furthermore, sugar substitutes, such as monk fruit sweetener, stevia, and yacon syrup, are comparatively sustainable and have gained immense popularity in the region. Moreover, increased consumer awareness about the adverse health impact of white sugar, along with changing dietary patterns, is driving the market. Also, major players are indulging in partnerships and acquisitions to launch innovative and sustainable products.
- For instance, in January 2021, Tate & Lyle and Codexis expanded their collaboration to improve the production of two of its newest sweeteners, Dolcia Prima Allulose and Tasteva M Stevia Sweetener. Besides this, regulatory bodies in several countries authorized the use of sugar substitutes in consumer products. This, in turn, drives the demand for alternative sweeteners among food and beverage companies to introduce low-caloric products to capitalize on customers' needs and drive their overall sales.
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