According to a new report, published by KBV research, The Global Sugar Substitutes Market size is expected to reach $25.9 billion by 2030, rising at a market growth of 5.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,126.0 Kilo Tonnes, experiencing a growth of 6.3% (2019-2022).
The Beverages segment is leading the Global Sugar Substitutes Market, by Application in 2022; thereby, achieving a market value of $11.7 billion by 2030. The beverages segment includes carbonated drinks, flavored water, sports drinks, and teas. Sugar substitutes allow manufacturers to create diverse beverage options catering to different tastes and preferences. The industry has seen continuous innovation in the formulation of beverages using sugar substitutes. These aspects will lead to increased growth in the segment.
The High-intensity Sweeteners segment is registering a CAGR of 5.5 % during (2023 - 2030). High intensity sweeteners enable the creation of sugar-free and reduced-sugar versions of a wide range of products, including beverages, dairy, confectionery, and baked goods. Ongoing advancements in food science and sweetener technology have led to new and improved high intensity sweeteners with better taste profiles and stability. These factors will pose lucrative growth prospects for the segment.
Full Report: https://www.kbvresearch.com/sugar-substitutes-market/
The North America region dominated the Global Sugar Substitutes Market, by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $8.5 billion by 2030. The Europe region is anticipating a CAGR of 5.6% during (2023 - 2030). Additionally, The Asia Pacific region would exhibit a CAGR of 6.5% during (2023 - 2030).
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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