The Sucralose Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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As per The Business Research Company’s Sucralose Global Market Report 2024, the sucralose market has witnessed robust growth, surging from $3.76 billion in 2023 to $4.09 billion in 2024, marking a substantial Compound Annual Growth Rate (CAGR) of 8.9%. This positive trajectory can be attributed to heightened health consciousness, escalating demand for low-calorie sweeteners, an expanding diabetic and health-conscious consumer base, the popularity of processed and convenience foods, the dynamic growth of the food and beverage industry, regulatory approvals endorsing sucralose’s safety as a sweetener.
Anticipating continued strength, the sucralose market is poised for significant expansion, projected to reach $5.65 billion by 2028, with an impressive CAGR of 8.4%. This forecasted growth is fueled by escalating global obesity rates, a pronounced emphasis on weight management, a burgeoning preference for non-nutritive sweeteners in the food and beverage industry, widening applications in pharmaceuticals and nutraceuticals, a paradigm shift towards natural sweeteners and clean label products, the surge of emerging markets, and increased disposable income in developing nations.
An increase in demand from health-conscious people is expected to drive the growth of the sucralose market. People are nowadays more concerned about their health so; they opt for health-conscious diet plans and consume health-related products and services. People who are not more concerned about health are at higher health risk. The increase in individuals suffering from obesity, heart diseases, and diabetes will force people to lead a healthy lifestyle. For instance, in June 2021, according to the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations responsible for international public health, with at least 2.8 million people dying each year from being overweight or obese, obesity has reached epidemic proportions on a global scale. Additionally, in October 2022, the Centers for Disease Control and Prevention report, a US-based national public health agency, 6 in 10 Americans are suffering from at least one chronic disease like cardiovascular, cancer, or diabetes. These diseases can be prevented by reducing the risk factors i.e., unhealthy diet, physical inactivity, and obesity. Therefore, an increase in demand from health-conscious people drives the growth of the sucralose market.
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The sucralose market covered in this report is segmented –
1) By Type: Industrial Grade, Feed Grade, Pharmaceutical Grade, Food Grade
2) By Form: Granular, Powder, Liquid
3) By Application: Beverage, Bakery, Confectionary, Dairy Products, Frozen Foods, Other Applications
Top 5 Major Players:
- Tate & Lyle PLC
- JK Sucralose Inc
- Nantong Changhai Food Additive Co Ltd
- Ingredion Incorporated
- Newtrend Group
Noteworthy trends in the forecast period encompass groundbreaking innovations in product formulations and applications, such as baking and beverages, technological strides in sucralose production, the advent of non-GMO and organic sucralose, the introduction of stevia-sucralose blends, sugar reduction initiatives, and the development of customized sweetness profiles.
The sucralose market landscape is significantly influenced by strategic product launches. Leading companies are adopting innovative approaches to enhance their offerings and stand out in the competitive sucralose market. An illustrative example is the move made by Lifeasible, a prominent US-based agro-related products and services company. In May 2022, Lifeasible introduced nine new sweeteners to its food additives line, reflecting a commitment to supporting researchers in crafting healthier foods. These sweeteners, derived from either natural plant extracts or artificial sources, serve as effective sugar substitutes across various products. The array of Lifeasible’s new offerings encompasses Regular Stevia, Rebaudioside A, Rebaudioside E, Enzymatically Modified Stevia, Healthy ready-to-eat sugar, Sucralose, Xylitol, Erythritol, and Sorbitol. This strategic move aligns with the broader industry trend of promoting health-conscious alternatives and underscores the ongoing evolution within the sucralose market.
The sucralose market report table of contents includes:
1. Executive Summary
2. Sucralose Market Characteristics
3. Sucralose Market Trends And Strategies
4. Sucralose Market – Macro Economic Scenario
5. Global Sucralose Market Size and Growth
….
31. Global Sucralose Market Competitive Benchmarking
32. Global Sucralose Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Sucralose Market
34. Sucralose Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Sucralose Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Sucralose Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Sucralose Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: Tate & Lyle PLC Financial Performance
Table 75: JK Sucralose Inc. Financial Performance
Table 76: Nantong Changhai Food Additive Co Ltd. Financial Performance
Table 77: Ingredion Incorporated Financial Performance
Table 78: Newtrend Group Financial Performance
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