Plant-Derived and Synthetic Sugar Market is Anticipated to Grow at a CAGR of 3.3% by 2029

 The Plant-Derived and Synthetic Sugar Market is a growing market that offers a variety of sugar substitutes to consumers. Plant-derived sugars include stevia, monk fruit, and agave, while synthetic sugars include aspartame, sucralose, and saccharin. The demand for these sugar substitutes is driven by increasing health concerns about the consumption of regular sugar and its negative health impacts. The global plant-derived and synthetic sugar market is anticipated to grow at a CAGR of 3.3% by 2029, reaching a value of USD 77,167.42 million.

The major challenges faced by the market include the high cost of production, lack of awareness about the benefits of sugar substitutes, and regulatory issues related to their use. However, increasing consumer awareness about the negative impacts of regular sugar consumption, growing demand for natural and organic products, and increasing investment in research and development are expected to drive the growth of the market in the coming years.

The market is segmented based on type, application, and distribution channel. The types of plant-derived and synthetic sugars available in the market include stevia, monk fruit, aspartame, sucralose, and others. The applications of these sugar substitutes include food and beverages, pharmaceuticals, and others. The distribution channels for these products include supermarkets and hypermarkets, convenience stores, online retail, and others.

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Some of the major players operating in the global plant-derived and synthetic sugar market are:

• Ingredion, Ajinomoto Co., Inc.,
• NOW Foods,
• Roquette Frères,
• NutraSweet Co,
• Tate & Lyle,
• PYURE BRANDS LLC,
• Hermes Sweeteners Ltd.,
• Südzucker AG,
• WILMAR INTERNATIONAL LTD,
• Celanese Corporation,
• JK Sucralose Inc, and others.

Plant-Derived and Synthetic Sugar Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:

Drivers:

• Rise in the demand for healthy food ingredients in the food and beverage sector

Many people prefer to include natural ingredients in daily diets. Natural ingredients are becoming increasingly important in the food and beverage business, and consumers and producers are turning to them. Consequently, using natural ingredients in the food and beverage business increases the demand for sugar from plants. Customers are looking for a healthy alternative to sugar.

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OPPORTUNITY

• EXPANSION AND NEW PRODUCT LAUNCHES IN THIS INDUSTRY

As an alternative to sugar, artificial sweeteners are becoming more and more common. The prevalence of obesity, diabetes, and metabolic syndrome has increased. This, combined with increased consumer knowledge, has resulted in a continuous paradigm change favoring artificial sweeteners with few calories. These artificial sweeteners, non-nutritive sweeteners (NNS), low-calorie sweeteners, and intense sweeteners deliver more sweetness per gram while having zero or a few calories. They are used in beverages, nutritional supplements, medications, and mouthwashes. 

Post-COVID-19 Impact on Global Plant-Derived and Synthetic Sugar Market

Post the pandemic, the demand for sugar products has increased as there won’t be any restrictions on movement; hence, the supply of products would be easy. In addition, the growing trend of plant-based sugar substitutes for table sugar and the increased demand for plant-based sugar ingredients in nutrition and food processing after the coronavirus outbreak are expected to drive the market’s growth.

Global Plant-Derived and Synthetic Sugar Market Scope

Type

• Plant-derived sugar
• Synthetic sugar

Form

• Dry
• Liquid

Application

• Food and beverages
• Dietary supplements
• Pharmaceutical
• Sport nutrition
• Other.

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