[Report Description]
North America Sugar Substitute Market is projected to grow at a CAGR of 3.99% during the forecast period (2020-2025).
- The market is expected to grow owing to the increase in patients suffering from lifestyle diseases such as diabetes, obesity and cardiovascular diseases. Also, the inclination towards living a healthy lifestyle and a rise in demand for low-calorie food products are other critical factors driving the growth of the sugar substitute market throughout the forecast period.
- Clean Label has triggered the demand for sugar substitutes such as stevia, and both food and beverage producers have supported with innovation and product launches by using stevia as a natural clean labeled sweetener.
Key Market Trends
Rising Popularity of Stevia
The growth of the stevia market in the country is majorly driven by ingredient demand from the beverage sector, which has been growing at a remarkable pace due to the rise in the United States' diabetic population. As diabetes remains the seventh major cause of death in the United States (according to a report by American Diabetes Association, 2015), the companies are offering beverages, such as sports drinks with stevia as a sugar substitute. With consumers increasingly seeking out non-genetically modified products, manufacturers are investing in growing or sourcing non-GMO stevia leaf to produce the natural sweetener. For instance,
In 2016, Ingredion in partnership with SweeGen, launched Reb D and Reb M, a GMO-free range of stevia.
United States Dominates the Market
The demand for natural sweeteners is primarily due to the health food trend and the rising awareness regarding the harmful effects of excessive sugar consumption. Another major driver is the growing population of overweight, obese, and diabetic patients and the favorable government initiatives to utilize various sugar substitutes and thus resulting in growth of the market. Furthermore, the consumers have been profoundly shifting towards sugar substitutes that are better alternatives for sugar. The most used brands of sugar substitutes in the United States include Splenda, Sweet’N Low, Equal, Truvia, Stevia IN The Raw, Store Brand, Nutrasweet, and other brands.
Competitive Landscape
The North American market for sugar substitutes is fragmented, owing to the presence of large regional and domestic players. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. The major players are Cargill, Tate and Lyle Plc, Archer Daniels Midland Company and Dupont among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support