According to a market report, published by Sheer Analytics and Insights, The Asia-Pacific sugar substitute market was valued at $11.34 billion in 2021 and it is expected to reach $20.9 billion at a CAGR of 5.4% between 2022 and 2032. More people are choosing healthier products derived from sugar substitutes including natural and calorie-free sweeteners as a result of rising diabetes and weight-related difficulties. Additionally, to meet the growing consumer demand for natural, secure, and nutritious sweetener systems, food product manufacturers are continuously improving their nutritional labels by including natural sweeteners. For instance, stevia sweeteners can assist businesses in capitalizing on the large market opportunity for goods with low sugar content. As a result, stevia and other alternatives became the dominant market, with strong demand in the area. In addition, greater consumer knowledge of ways to improve their overall health and well-being is anticipated to increase demand for immune boosters and less-sugary goods, which will speed up market growth.
It is anticipated that the variable supply and price of sugar will be advantageous for sugar alternatives. With stevia and monk fruit being high-intensity plant-based sweeteners that have received FDA GRAS certification, the market for low-calorie, plant-based, and naturally sweet ingredients has expanded. Moreover, as people become more aware of the negative health effects of consuming artificial additives, the demand for natural and clean-label food items is rising globally. Therefore, these primary factors are expected to boost the market growth during the forecast period from 2022 to 2032.
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Furthermore, Juice flavoring, soft drinks, carbonated drinks, and other food products all frequently use sugar replacements as a sugar replacement. As consumer tastes shift toward foods and beverages made from organic ingredients, natural sugar alternatives are growing in popularity in the Asia-Pacific region. Natural sugar is a low-calorie sweetener that is 200 times sweeter than sugar and is obtained from plants like stevia, monk fruits, and others. The company has been driven by strong R&D and technical capabilities, and as a result, demand for crystalline sugar has increased over time. However, the region's food and beverage business has had steady growth, which is helping the Asia Pacific natural sweeteners market expands as well. To satisfy the increased consumer demand for healthier products, businesses prefer natural sweeteners over artificial ones. Hence, these rising factors would create more growth opportunities for the sugar substitute market across the Asia-Pacific region.
The market for sugar alternatives is primarily driven by rising consumer awareness, which has caused consumers to pay greater attention to food labels to guarantee that the calorie content and a growing understanding of the relationship between diet and health is the problem of obesity and diabetes. However, significant regulatory obstacles imposed by governing organizations may hinder market expansion.
Some new developments in the Asia-Pacific sugar substitute market:
- On 16th November, 2022, the brand-new Poco Loco location in SOBO provides a memorable dining experience with mouthwatering Spanish and Mexican cuisine. There is no doubt that Mumbai serves as a host for various culinary experimentation locations given the city's constantly expanding gastronomic experiences.
- On 16th November, 2022, Ofi Ingredients establishes its newest customer service facility in Singapore. In order to improve its relationships with regional brands and merchants, Olam Food Ingredients has opened a new Customer Solutions Center in Singapore, according to Neill Barston.
- On 10th November, 2022, Lawson, a network of convenience stores in Japan, just introduced a fairly fascinating new item called flavorless candy, which reportedly tastes like nothing at all.
According to the study, key players dominating the Asia-Pacific sugar substitute market are ADM (U.S), Ajinomoto (Japan), Cargill (U.S), DuPont (U.S), Discovery (U.S), FoodChem International Corporation (China), HSWT (Germany), Ingredion Incorporated (U.S), JK Sucralose (India), Lyan Corporate (U.S), Mafco Worldwide (U.S), Mitsui DM Sugar Holdings (Japan), NutraSweet (U.S), PureCircle (U.S), Roquette Freres (France), Tate and Lyle Plc (U.K), ZuChem Inc (U.S), among others.
The Asia-Pacific Sugar Substitute Market Has Been Segmented Into:
The Asia-Pacific Sugar Substitute Market – by Products Type:
- High-Intensity Sweeteners
- Low-Intensity Sweeteners
- High Fructose Syrup
The Asia-Pacific Sugar Substitute Market – by Application Type:
- Food
- Beverages
- Health and Personal Care
- Others
The Asia-Pacific Sugar Substitute Market – by Regions:
- Asia Pacific
- India
- China
- Japan
- Australia
- Rest of Asia-Pacific
Browse the full report at https://www.sheeranalyticsandinsights.com/market-report-research/asia-pacific-sugar-substitute-market-21
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