Sugar Alternative Market to Exceed a Healthy Grow at CAGR 4.65% from 2020 to 2023
Research Reports
Dec 29, 2020
Market Overview
The global sugar alternative market is witnessing a massive growth over the last decade. Growth of the sugar alternative market is attributed to the rising incidents of obesity and diabetes among sugar consumers. These diseases brings various chronic diseases such as kidney failure, respiratory disorders and other cardiovascular diseases. Increasing consumer awareness is playing a crucial role to increase the demand of the sugar alternative. As a result, the takeaway food manufacturers have started using sugar alternative instead of the normal sugar which in turn escalates the sales of sugar alternative during the forecast period. Key players are emphasizing to promote their new product offerings in the supermarkets & hypermarkets which is creating awareness for sugar alternative among consumers.
Key players in the global sugar alternative market are emphasizing to enhance their investment in product development in order to extend the product line. Additionally, the companies are also inclined to increase their footprint across the world by acquiring local and regional players. Apart from that, the companies are introducing their products in the developing economies in order to penetrate the untapped market.
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Major Key Players:
This report includes a study of strategies such as mergers and acquisitions, product launches by the major sugar alternative market players. It further includes product portfolios, developments of leading major players which includes Cargill, Incorporated (U.S.), Tate & Lyle PLC (U.K.), Archer Daniels Midland Company (U.S.), Ingredion Incorporated (U.S.), Ajinomoto Co., Inc. (Japan), E. I. du Pont de Nemours and Company (U.S.) and Roquette Freres S.A. (France)
The global Sugar Alternative Market is segmented on the basis of type, application, distribution channel and region.
Regional Analysis
The global sugar alternative market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Among these, North America region has the major market proportion in the global sugar alternative market. The market is projected to grow in a high pace in the review period of 2017-2023. Asia Pacific region is projected to witness maximum growth rate in the global sugar alternative market. The growth in sugar alternative in the Asia Pacific region is attributed by the increasing per capita disposable income of the consumer in the developing economies such as China, India & the Association of South East Asian Nations countries and rising consumer awareness regarding the sugar alternative products during the forecast period. Also, the manufacturers of sugar alternative are emphasizing on the various promotional activities in the developing nations of Asia Pacific which in turn accelerates the sales of sugar alternative in this region during the forecast period of 2017-2023. Also, organized retail industry is witnessing a massive growth in the developing nations of Asia Pacific region which is anticipated to be one of the major drivers for the rising growth of sugar alternative in this region.
Key Findings
- Asia Pacific is projected to witness a massive growth during the forecast period of 2017-2023.
- China is estimated to create a favorable environment for the increasing growth of Asia Pacific region.
- North America dominates the sugar alternative market followed by Europe
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, Reportedtimes, iCN Internal Distribution, Research Newswire, English
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