Driven by the surging demand for low-calorie sweeteners in food and beverages products coupled with a growing inclination towards healthy food to lead a healthy lifestyle and rising health-conscious consumers demanding low-calorie or zero-calorie food and beverage products, the Global Natural Sugar Substitute Market is Forecasted to reach nearly US$ 4 Bn by 2028 says Ken Research Study
Natural sugar substitutes also called “artificial sweeteners” or “non-caloric sweeteners” are plant-based substances that are used to enhance the flavor of food or beverage products. It offers a similar flavor and texture as conventional sugar but contains fewer calories and is considered a healthier alternative to sugar.
Ken Research shares 3 key insights on this high-demand market from its latest research study.
1. Growing Demand for Plant-Based, Clean Label Sweeteners Encourage Market Growth
The increase in awareness regarding the harmful health impact of overconsumption of sugar and the health benefits of natural sugar sweeteners among consumers has increased the demand for plant-based sweeteners, which is likely to boost the growth of the segment. The increase in health-conscious consumers and the rising prevalence of lifestyle diseases such as diabetes, cardiovascular disorder, obesity, and others have boosted the demand for clean-label natural sugar substitutes, which is anticipated to augment the growth of the Global Natural Sugar Substitute Market. However, contradictory opinions regarding the negative health impact of natural sugar substitutes may have shaken the faith of consumers in these products, which may hinder the growth of the market.
According to Ken Research estimates, the Global Natural Sugar Substitute Market – valued at around US$ 2 Bn in 2017 and estimated to reach nearly US$ 3 Bn by 2022 – is expected to grow to around US$ 4 Bn opportunity by 2028.
2. Rising Prevalence of Lifestyle Disorders is a Major Growth driver for Natural Sugar Substitute Market.
The lifestyle disorders such as obesity, diabetes, cardiovascular diseases, and others have become serious public health issues. The increasing consumption of processed or high-calorie food and a sedentary lifestyle is the leading cause of the aforementioned disease. The adoption of low-calorie or zero-calorie food and beverage products among consumers as a part of a healthy diet to prevent any lifestyle diseases and to lead a healthy lifestyle is expected to boost the demand for natural sugar substitutes. The aforementioned factors are anticipated to augment the growth of the Global Natural Sugar Substitute Market.
The below graph depicts the rising prevalence of diabetes among adults aged between 20-79 years in millions.
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3. High Prices of Natural Sugar Substitute Is the Most Significant Barrier to Market Growth
The volatility in the prices of raw materials or ingredients of natural sugar substitutes makes it hard for small-scale manufacturers or manufacturers in developing countries to procure the raw material. In addition, the manufacturing process of natural sugar substitutes is more complex in comparison to conventional sugar which also adds up the cost of the natural sugar substitute. Additionally, consumers in low-income countries may not be able to afford the high-priced substitute of sugar, which may restrict the growth of the market.
The below graph depicts the high prices of stevia, a natural sugar substitute in comparison to sugar in US$ per pound.
For more information on the research report, refer to the below link: