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Sugar substitutes to reach S13,761.2m by 2018.

The sugar substitutes market has been forecast to increase at a compound annual growth rate (CAGR) of 4.5 percent over the next five years, increasing from a value of $10,538.8m in 2012, to reach a total of $13,761.2m by 2018.

According to a recent market report: 'Sugar Substitute Market: Global Trends, Forecasts to 2018,1 in terms of volume, the sugar substitutes market is estimated to reach 16,687tonnes by 2018, growing at a CAGR of one percent.

The sugar substitute market has grown considerably in the last few years that is expected to continue.

Factors such as growing consumer awareness, sugar prices and availability issues, increasing investments in R&D for development of more substitutes and cost advantages provided by the substitutes contribute to the demands and adoption rate.

A substance that mimics the taste of sugar, with no aftertaste or stability issues and at a competitive price is the dream of every food chemist out there, or at least, is the dream of the company that employs them.

As global obesity levels rise, a reduction of calories has taken on increased urgency among food and beverage companies. As consumers' waists expand, the interest in reduced calorie foods heightens for many.

North America currently represents the dominant regional market within the sugar substitute market. The demand for low caloric foods and low intensity sweeteners drives the North American market, estimated to grow at 3.9 percent. A high rate of adoption of stevia by manufacturers drives the European market to grow at a healthy CAGR of 5.0 percent from 2013 to 2018.

Key players currently dominating the sugar substitutes market include Tate & Lyle plc (UK), PureCircle (Malaysia), Cargill Inc. (USA), and Merisent (USA).

New product developments and investments in R&D have set the sugar substitute market on a new dimension, thus leading to growth hand in hand with the global sweetener market.

PepsiCo (USA), PureCircle (Malyasia), Tate & Lyle (UK), and Cargill (USA) have been at the forefront for product innovations and R&D activities, especially for stevia products. These market leaders hold approximately a 60 percent share in the global sugar substitute market.

Tate & Lyle and JK Sucralose are the global leaders in the sucralose segment. Pure Circle dominates the stevia segment. Cargill Inc. and Roquette Freres (France) are dominant in the sugar polyols market segment.

Contact Companies & Markets on tel 0203 OB6 8600 or visit www.companiesandmarkets.com
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Title Annotation:foodevo
Comment:Sugar substitutes to reach S13,761.2m by 2018.(foodevo)
Publication:Food Trade Review
Date:Jan 1, 2014
Words:407
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