According to the research report titled ‘Global Sugar Substitutes Market (2021 Edition) - Analysis By Origin (Natural, Artificial), Product Type HIS, LIS, HFS), Application, By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global sugar substitutes market was valued at USD 15.41 billion in the year 2020 and is slated to record stellar growth during 2021-2026.

Soaring awareness of the health benefits associated with sugar substitutes, coupled with the rising preference for natural sweeteners over processed sugar, and ubiquitous use in soft drinks, sports drinks, and other beverages are parameters acting as growth catalysts for global sugar substitutes market.

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Besides, rising incidences of chronic ailments like obesity & diabetes, new product innovations prompting the use of natural substitutes in end-use sectors, along with variations in consumer lifestyles as a result of enhanced health awareness are together supporting the industry development.

During the COVID-19 pandemic, the global economic slowdown significantly affected large corporations, especially the commodities sector associated with sugar substitutes. The swift spread of the virus and lack of vaccines led to unprecedented market conditions. This had compelled major producers to reevaluate their business decisions and actions to act in accordance with government guidelines to maintain stability in the business sphere.  

In terms of product type, worldwide sugar substitutes market is split into low-intensity sweeteners, high-intensity sweeteners, and high-fructose syrup. Based on origin, the industry is divided into artificial, and natural. As per application scope, the market is segregated into beverages, food products, and health & personal care.

Speaking of regional terrain, Asia Pacific market is poised to observe remunerative growth during the assessment timeframe, owing to the rising consumer awareness about sugar-related health issues, rapid urbanization, and a shifting trend towards a healthier lifestyle. Moreover, end-user sectors like food & beverages, pharmaceuticals, and others are opting for sugar substitutes which is impelling the demand and also inviting new players into the business atmosphere.

The established players in global sugar substitutes industry include Cargill, Inc., Archer-Daniels-Midland Company, Zydus Wellness Ltd., JK Sucralose, Inc., Ingredion Incorporated, DuPont de Nemours, Inc., Whole Earth Brands, Inc., Ajinomoto Co., Inc., Tate & Lyle plc, and Roquette Frères among others.