World Sweetener Market (Sugar Substitutes) Growing at 4.78% CAGR to 2020, according to a new market research report from RnR Market Research
A key growth driver is the high incidence of obesity and diabetes. Obesity and diabetes are lifestyle disorders found in a large segment of the world population.
Childhood obesity and juvenile diabetes are on the rise, especially in developed economies like the US and the UK. In 2013, approximately 347 million individuals had diabetes worldwide.
The sweetener market in the Americas is expected to exceed USD 45 billion by 2020, growing at a CAGR of over 5%. The Americas is the leading producer and consumer in the sweetener market due to the increased demand for convenience food, functional food, and alternative sugar sources. In APAC (Asia-Pacific North) is expected to exceed USD 35 billion by 2020, growing at a CAGR of over 5%. The region has emerged as one of the fastest-growing market for artificial sweeteners driven by two leading countries, China and India. Europe is predicted to generate approximately 26 billion by 2020, growing at a CAGR of over 4%. The European sweetener market has been witnessing an increase in sugar prices that is above the stated preferential pricing of the European Union.