The Asia Pacific Sugar Substitutes Market would witness market growth of 6.5% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 304.9 Kilo Tonnes, showcasing a growth of 6.9% (2019-2022).
The food and beverage industry are the largest and most influential sector within the sugar substitutes market. Manufacturers are reformulating various products, including carbonated beverages, confectioneries, dairy products, and baked goods, to cater to health-conscious consumers. The versatility of sugar substitutes in different applications has facilitated their integration into a broad spectrum of food and beverage products.
The beverage industry has been at the forefront of incorporating sugar substitutes, with diet sodas and sugar-free beverages becoming commonplace. The demand for low-calorie and reduced-sugar options in juices, energy drinks, and flavored water has driven innovation in sweetening solutions. Diet sodas, which replace traditional sugar with artificial or natural sweeteners, marked the industry's initial foray into sugar substitutes. These beverages aim to deliver the familiar soda taste without the caloric content associated with regular sodas. The rise of diet sodas can be attributed to consumers seeking alternatives that align with health and wellness goals. As individuals became more conscious of the impact of sugar on weight management and overall health, the demand for beverages with reduced or zero sugar content surged.
China's beverage sector often takes cues from international trends. The global movement towards reduced sugar consumption and increased awareness of health impacts have likely influenced the formulation of beverages in China, leading to a higher adoption of sugar substitutes. According to the data from the State Council of China, in 2021, major beverage producers saw their output rise 12 percent yearly to over 183 million tons, according to the Ministry of Industry and Information Technology. In December alone, the beverage output amounted to 13.59 million tons, up 8.3 percent year-on-year. Organizations that generate an annual revenue exceeding 20 million yuan (approximately $3.16 million) are deemed major producers. Thus, rising dairy and beverage sectors in Asia Pacific will boost the expansion of the regional market.
The China market dominated the Asia Pacific Sugar Substitutes Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,159.2 Million by 2030. The Japan market is exhibiting a CAGR of 5.8% during (2023 - 2030). Additionally, The India market would experience a CAGR of 7.1% during (2023 - 2030).
Free Valuable Insights: The Global Sugar Substitutes Market is Predict to reach USD 25.9 Billion by 2030, at a CAGR of 5.8%
Based on Application, the market is segmented into Beverages, Food (Bakery & Confectioneries, Dairy, and Others), and Health & Personal Care. Based on Type, the market is segmented into High-intensity Sweeteners, High Fructose Syrup, and Low-intensity Sweeteners. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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