DUBLIN, Jan. 6, 2015 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/b2nlp5/sugar_substitutes) has announced the addition of the "Sugar Substitutes Market by Type, by Sub-type & by Application - Global Trends, Forecasts to 2019" report to their offering.
The global sugar substitutes market has grown considerably in the last few years and the growth of this market 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 of these substitutes.
Although the sweetener market is primarily driven by sucrose, high fructose syrup, and saccharine, other substitutes namely stevia, sorbitol, xylitol, and other polyols are expected to dominate the future market scenarios. Personal care products and beverages have been dominant in case of the scope of the application sector. However, research in various fields has opened up new avenues for the application of these substitutes. Confections, bakery, dairy and other food products such as cereals and desserts are now picking up pace in terms of usage of sugar substitutes.
The global sugar substitutes market was estimated at $11,538.6 million in 2014 and is expected to reach $14,355.0 million by 2019, growing at a CAGR of 4.5% for the same period. In terms of volume, the market is estimated to reach 16,870.0 kilo tons by 2019, growing at a CAGR of 1.0 %.
The global low intensity sweetener market is expected to grow at a CAGR of 6.2% from 2014 to 2019. The flourishing F&B sector drives its stevia segment to grow at a CAGR of 17.6% till 2019. The global sugar substituted market in 2014 was dominated by the high intensity sweeteners segment (50.2%), in terms of value, and the high fructose syrup segment (88.2%) in terms of volume.
The global sugar substitutes' market is dominated by the North American region. The demand for low caloric foods and low intensity sweeteners drives the North American market, estimated to grow at a CAGR of 3.9%. A high rate of adoption of stevia by manufacturers drives the European market to grow at a healthy CAGR of 4.8% from 2014 to 2019. The growing F&B market and resultant demand for LIS and HIS drives the APAC market. The Brazilian food industry demand drives the market for LIS and HIS, especially for beverage applications.
The global sugar substitutes market is dominated by few major companies including Tate & Lyle plc (U.K.), PureCircle (Malaysia), Cargill Inc. (U.S.), and Merisent (U.S.). New product developments and investments in R&D have set the sugar substitutes market on a new dimension, thus leading to growth hand in hand with the global sweetener market. PepsiCo (U.S.), PureCircle, Tate & Lyle, and Cargill have been at the forefront for product innovations and R&D activities, especially for stevia products.
These market leaders approximately hold a 60% share in the global sugar substitutes 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.
Key Topics Covered:
2 Executive Summary
3 Total Addressable Market
4 Market Overview
5 Sugar Substitutes Market, By Type
6 Sugar Substitutes Market, By Application
7 Sugar Substitutes Market, By Geography
8 Competitive Landscape
9 Company Profiles
- Ajinomoto Co. Inc.
- Archer Daniels Midland Co.
- Cargill Inc.
- E.I. Dupont
- Hermes Sweeteners Ltd
- Ingredion Inc
- JK Sucralose Inc.
- Roquette Freres S.A.
- Tate & Lyle PLC
- The Nutrasweet Company
For more information visit http://www.researchandmarkets.com/research/b2nlp5/sugar_substitutes
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Source:Research and Markets